About 3 or 4 years ago PayPal added the option to buy cryptocurrency, which I thought I’d try. (Dumb idea 🙄)
Part of the sign up process was glitched. I retried and clicked submit one too many times, I guess. Now I’ve been unable to use PayPal for years. They blocked me because THEIR SITE was broken, but the web page essentially accuses me of being a criminal and asks for my bank records. No way in hell.
This was just for me to pay others. I can only imagine how awful PayPal is if you are a vendor.
Fuck PayPal.
I haven’t. Maybe someday I’ll be willing to, but not today. It’s a hassle and extremely intrusive to provide my bank statement and photo ID to a company whose security I don’t trust.
If you don’t trust their security why would you even want to use them and trust them with your money?
Sometimes it’s the only option or the preferred option.
Yes its giving them a few things you wouldn’t give anyone else, you can btw also black out many things not necessary on your ID, they are also not storing the data for longer than necessary for the verification, at least in EU idk how they do it outside.
But tbh, i trust them regarding these things, not deeply but enough to give it to them within the given lines.
I think they might even be required to do this due to money laundering and bank safety regulations. But I’m not entirely shure about it. I just had my account locked once i transferred 10k€ to someone else (the transaction was locked for some time as well as the receivers account) i had a talk to their support obviously and they said they need to do some stuff due to these regulations (in my case money laundering laws)
I wouldn’t give them a photo ID, but I do give them my bank account details. I just give them the number of an account that I use only for PayPal.