Your PayPal account might have a negative balance currently, and it’s all the fault of the banking system.
Since 1999, I use PayPal regularly and it’s a great tool for online transactions, including the sale and acquisition of domain names.
As I check my PayPal account daily, I was surprised to find a negative balance of approximately $25 dollars appear overnight.
It seems that many other PayPal users are having the same issue currently, and the banks are to blame over an address issue.
According to a message left by a PayPal user who had the patience to wait for the PayPal support’s explanation, the negative balance is related to the use of PO box addresses in the contact information of one’s account.
Due to changes in legislation there year, Banks cannot do money transfers if they are linked to a PO Box, especially those for who are sending money abroad. In my case, I had sent a payment of $74+ or so to a friend in Canada. During that time, my paypal account balance was around $50 So I expected a withdrawl from my bank of around $24. The Representative explained to me that due to the sudden changes in the legislation that came about on July 1st, when they submitted the request of $24ish dollars to my bank, it was rejected because of the P.O. Box. Ordinarily this would have gone through within a few days after the Paypal transaction, however, according to my customer representative, they’ve been scrambling to get a handle on this with banks across the country and rather than trying to figure it out, they just charged the difference ($24ish) to my paypal wallet. They never charged my bank account for the difference!
In other words, PayPal can’t get the money from your bank account if your PayPal account’s primary address is a PO box.
You need to change it to a regular address, in order to avoid getting hit with a negative balance.
Paypal are crooks. They asked for picture id etc after 10+ years of no issue transactions and I thought that was ridiculous. I asked them to return MY MONEY to MY BANK account and they have to this day refused without photo id. Thieves imo. I found out when I was going to use the balance to donate it to a charity. Really. Paypal are crooks and the sooner everyone jumps on the blockchain the sooner these parasites will dissapear. Poof, bye, bye corrupt fiat system.
ByeByeFiat – So what holds you back from not providing a photo id? Acne scars?
The principle of it. They have been happily taking.my money for over a decade and all of a sudden photo id to remove my funds to the original funding bank account?!?!?! Ok for photo I’d if I want to continue to use their service. I don’t. Adiós, return my funds or you are a thief, simple.
The future is on truth machines on block chains not fascist systems designed to devalue wealth and control sheeple.
Fu paypal. I will send the charity btc instead. ☺
Watch real dollars leave the corrupt system at http://fiatleak.com
Stay on topic.
From PayPal support:
“This correction happened because we were owed 26.09 due to transaction ID [redacted], in which the bank withdrawal was rejected due to a non physical address. ”
PayPal has yet to disclose how it handles such bank requirements going forward.