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Paypal: New Agreement Involves US Dept of Treasury Requirements?!?

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  1. OstrichSaK

    OstrichSaK Well-Known Member

    Anyone see that there's an update to the Paypal app that includes the following text:

    "Added new rules for check capture and add funds according to requirements from the US Department of Treasury."


    Does anyone know what these requirements specifically are? How does these 'requirements' affect the end user? I also assume that one needs to accept this and update the app to capture any more checks. I read the user agreement on the Paypal website and they don't give any details either. Anyone else bothered by these new 'requirements' that can't be specified anywhere? :mad:

  2. blanter

    blanter New Member

    I had the same questions and was bothered by this and thought wth :confused: ? I then searched and I expect there has always been some sort of Paypal and US Department of Treasury cooperation because of IRS interests. But it is an odd thing to have to say in an ap update right? I found a site which speaks more about it but puts down Paypal. Check this site out:
    PayPal Secrets & PayPal Information You Didn't Know!

    I also only found this "help" page on Paypal's site speaking about the US Department of Treasury: https://www.paypal.com/helpcenter/m...&countrycode=GB&cmd=_help&serverInstance=9022

    You can also use google search to look too:
    site: paypal.com department treasury
  3. OstrichSaK

    OstrichSaK Well-Known Member

    That fist page doesn't say anything to address my questions nor does the Paypal link which was the page I read before posting this thread. I generally don't take my facts from a website called 'Paypal-sucks.com' either. I prefer to fact check to those types of sources that clearly have a dog in the fight. I still can't find anywhere the specific requirements by the DoT that Paypal has implemented with this update. Everything I've found are passing mentions of restrictions or guidelines that were already in place.
  4. blanter

    blanter New Member

    Ok, then call the US Department of Treasury or Paypal and ask... or fill in the blanks from reading the sources I linked. It's probably not a conspiracy nor going to be a great mystery of the world.
  5. OstrichSaK

    OstrichSaK Well-Known Member

    These posts are of no help. Can anyone else offer some useful insight?

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