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Barefootsies

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#1

Free PayPal Tip of the Day

09-07-2010, 03:05 PM

When using PP to receive payments for a service.

1. Receive the money for SERVICE
2. Transfer the money out and to your own checking account.
3. Pay for things via your credit card, debit card, or something else not PP related.

If you receive a payment, say from a client, and then you immediately send out a payment to someone else for something (like design) they will flag you as high risk/money laundering. This is getting a lot of people's accounts closed in accordance with anti terrorism, and money laundering laws.

So to avoid this, you need to transfer the money to your own account, and then pay via some other form of personal payment Paypal can't see. This way, if you were to pull a fraud, PP could then claim the money from your personal bank account. Where as, if you transfer out immediately, they can't do shit and they lose the money.

I am sure many have made this same exact error I did. So now you know.

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#2

09-07-2010, 03:08 PM

“If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you.”
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#3

09-07-2010, 03:23 PM

Did they give you hard time about your transactions?

Last edited by woj; 09-07-2010, 03:25 PM.

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#4

09-07-2010, 03:26 PM

Plus the funky error messages don't help http://www.highrevenue.com/payment-p...ssporte-paypal Fucked up if you just sent payment and pull up that error page so you have to resend. I guess that's okay ifyou're only paying one expense... what if you're paying a shitload of people?

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Barefootsies

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#5

09-07-2010, 04:04 PM

Originally posted by woj

Did they give you hard time about your transactions?

Well, I do business internationally. So I have payments going all over the world. Poland, Sweden, Netherlands, UK, etc.. Also typically the same names over and over again.

But the problem apparently comes in where you have a client pay you for something, and then you immediately start paying people out of that money. For example, someone buys a site $1000.00 and you then pay the programmer, then the designer, then the logo maker out of that payment and your Paypal balance. They see that as money laundering.

You need to pull it out, to your bank, and then pay the people with your credit card or whatever not involving PP apparently. Otherwise, those transactions going out as fast as they come in can be the issue and they close you without warning.

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#6

09-07-2010, 04:09 PM

Paypal suck sometimes
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#7

09-07-2010, 04:09 PM

i have never had that problem once and i do what you do daily...

i have had them ask me to send in a copy of my passport when i was abroad, but that is it...

.
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beta-tester

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#8

09-07-2010, 04:17 PM

Do you report your "income" transferred from Paypal to your checking account for tax?
Or how does that tax thing work exactly?

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#9

09-07-2010, 04:24 PM

That sucks, btw I can still pay my small hosting with paypal to ya right?

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#10

09-07-2010, 04:29 PM

<--- never had a problem like that.
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#11

09-07-2010, 04:34 PM

In some cases with Paypal, the sender of the payment can reverse the payment. He/she/shemale can reverse the payment some time after the payment was made. Be careful how the payment is labeled. The payment may be reversed for a true or fake reason, such as "shipped product was not received."

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#12

09-07-2010, 04:38 PM

never had a problem with paypal
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Barefootsies

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#13

09-07-2010, 05:03 PM

Originally posted by beta-tester

Do you report your "income" transferred from Paypal to your checking account for tax?
Or how does that tax thing work exactly?

They passed a new law that went into effect for that this year. It applies to the PP/EP electronic type dealios. Paypal will send you a 1099 at end of year for income statement (U.S.). Talk to your C.P.A. about it.

However, the short answer is yes. I can't very well have a ton of money going out for programmers, servers, and alike without money coming in. I simply do an export for the year, and give to the accountant. Simple and easy.

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Barefootsies

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#14

09-07-2010, 05:04 PM

Originally posted by Nicky

That sucks, btw I can still pay my small hosting with paypal to ya right?

Yeah, we gotcha covered hoss.

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#15

09-07-2010, 05:08 PM

I have a separate checking account tied to my paypal. one time paypal did a withdrawl from it. I bought something thought I had a balance. well the paypal displayed balance. then they deducted money from my checking account which wasnt in there and it ended up costing me for over drawn. plus the difference of what I thought was in my paypal. honestly I never had that problem with epass. in fact epass withdrawal showed up in my checking account today

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woj

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#16

09-07-2010, 05:28 PM

Originally posted by Barefootsies

They passed a new law that went into effect for that this year. It applies to the PP/EP electronic type dealios. Paypal will send you a 1099 at end of year for income statement (U.S.). Talk to your C.P.A. about it.

However, the short answer is yes. I can't very well have a ton of money going out for programmers, servers, and alike without money coming in. I simply do an export for the year, and give to the accountant. Simple and easy.

"Under the legislation, PayPal will be required to report to the IRS the total payment volume received by PayPal customers in the U.S. who:

1. receive more than $20,000 in payment volume in a single year; and
2. receive more than 200 payments in a single year.

This legislation applies to all payment providers including PayPal and takes effect in 2011, so the first reports will go to the IRS in January 2012."

Does that sound right? or did you hear a different version?

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Barefootsies

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#17

09-07-2010, 05:31 PM

Originally posted by woj

"Under the legislation, PayPal will be required to report to the IRS the total payment volume received by PayPal customers in the U.S. who:

1. receive more than $20,000 in payment volume in a single year; and
2. receive more than 200 payments in a single year.

This legislation applies to all payment providers including PayPal and takes effect in 2011, so the first reports will go to the IRS in January 2012."

Does that sound right? or did you hear a different version?

That sounds about right. C.P.A. was telling about it. Which doesn't bother me. Nor do I really care to be honest. I already reported that shit. I simply did price screen, or export rather, of my PP anyway. But I am sure it sucks for those who never bothered reporting that revenue and the PP/EP free money going away.

Should You Email Your Members?

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#18

09-07-2010, 05:33 PM

Yes, the fuckers fucking suck... I got a new account about 6 months ago because they closed my other one that I had since 2004, and they shut this one off about 2 months ago. Now I need to wait to get my $ out. Fuck them in their fucking asses, they suck.

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Barefootsies

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#19

09-07-2010, 05:42 PM

Originally posted by NaughtyRob

Now I need to wait to get my $ out. Fuck them in their fucking asses, they suck.

The ole 180 day dealio eh?

Paypal internal dispute policy 45-60 days.
Bank and most credit card dispute policy 30-90 days.

PP hold back 180 days. Twice as long as most limits on disputes.

Last edited by Barefootsies; 09-07-2010, 05:43 PM.

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#20

09-07-2010, 05:43 PM

Yeah, $437

Originally posted by Barefootsies

The ole 180 day dealio eh?

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#21

09-07-2010, 05:49 PM

heres another tip ...never let the buyer put an url to a porn site in the transaction yes it happened to me and yes my account got frozen for breaking thier Tos .. thanks to the dumb buyer

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#22

09-07-2010, 05:51 PM

I only use PayPal to pay people, never receive payment. So I actually pay directly from my checking acct. Instant transfer. I personally think that's the only way to use PayPal without opening yourself up to other troubles. Of course, how to get paid by International customers/partners is the problem.

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lagcam

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#23

09-07-2010, 06:01 PM

Originally posted by Barefootsies

When using PP to receive payments for a service.

1. Receive the money for SERVICE
2. Transfer the money out and to your own checking account.
3. Pay for things via your credit card, debit card, or something else not PP related.

If you receive a payment, say from a client, and then you immediately send out a payment to someone else for something (like design) they will flag you as high risk/money laundering. This is getting a lot of people's accounts closed in accordance with anti terrorism, and money laundering laws.

So to avoid this, you need to transfer the money to your own account, and then pay via some other form of personal payment Paypal can't see. This way, if you were to pull a fraud, PP could then claim the money from your personal bank account. Where as, if you transfer out immediately, they can't do shit and they lose the money.

I am sure many have made this same exact error I did. So now you know.

I think you are misleading people with this post. The process you described would not be considered money laundering. Paypal can see the original source of the funds and can follow their trail through the system until their ultimate withdrawal.

That aside, why on earth are you trying to give people advice on how to "safely commit fraud"?

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Barefootsies

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#24

09-07-2010, 06:02 PM

Originally posted by MisterPeabody

I only use PayPal to pay people, never receive payment. So I actually pay directly from my checking acct. Instant transfer. I personally think that's the only way to use PayPal without opening yourself up to other troubles. Of course, how to get paid by International customers/partners is the problem.

Agreed.

Seems to be the golden rule.

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Barefootsies

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#25

09-07-2010, 06:05 PM

Originally posted by lagcam

why on earth are you trying to give people advice on how to "safely commit fraud"?

**rolls eyes**

Jesus fucking christ man. Give it a rest already.

I explained what happened to me, as well as a couple of others I know, and what PP finally admitted was the problem in regards to being flagged. If you show that pattern of behavior in regards to $1000.00 comes in, and you transfer out payments to programmer, designer, etc.. almost immediately then it looks bad. Add in some international business, and it raises flags. Especially when you are pushing through X,XXX and XX,XXX volume per week. This post is to help others from getting into trouble based on the feedback from PP.

I am a fair guy, but this shit reeks of your normal truth twisting.

Last edited by Barefootsies; 09-07-2010, 06:18 PM.

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#26

09-07-2010, 06:42 PM

Originally posted by Barefootsies

This way, if you were to pull a fraud, PP could then claim the money from your personal bank account. Where as, if you transfer out immediately, they can't do shit and they lose the money.

You can roll your eyes all you want you twat, but how exactly did I twist your words there?

Oh and I repeat, the process you described is not considered money laundering for the reasons that I stated.

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Barefootsies

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#27

09-07-2010, 06:54 PM

Originally posted by lagcam

Oh and I repeat, the process you described is not considered money laundering for the reasons that I stated.

Do you work for Paypal? Do you hold some office at PP we are unaware of??

I never said it WAS money laundering. I simply gave the feedback that PP provided in regards to 'appearance' according to their policies, and based on that behavior of money in money out in a short period of time.

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#28

09-07-2010, 07:07 PM

paypal is strange...

they process adult ILLEGAL forums like EXTREME-BOARD.com since long time, but then they ban honest mainstream webmasters... just weird... seriously.

.
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Barefootsies

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#29

09-07-2010, 07:08 PM

Originally posted by Argos88

paypal is strange...

they process adult ILLEGAL forums like EXTREME-BOARD.com since long time, but then they ban honest mainstream webmasters... just weird... seriously.

Do they still process for RapidShare?

For the longest time I think they were the processor of choice for them.

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#30

09-07-2010, 08:12 PM

never had that problem before... only time i had repeated issues is when I did a MAX atm withdrawal and a checking account withdrawal for the rest in the same day. All they did was block my paypal card til I called.
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#31

09-07-2010, 09:38 PM

I guess you're new to PayPal and don't really know what's up yet. Your original post, your "Free PayPal Tip of the Day" is not even remotely close to factual in regards to day-to-day business with PayPal.
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#32

09-07-2010, 09:44 PM

What type of PP account do you have?

I am premiere business (with debit) and have never had that problem.
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#33

09-07-2010, 09:55 PM

I have been using Paypal since 2003 and never had a single problem with them. I receive money to the account, Buy some software or licenses, pay myself, leave a small balance, transfer more, etc. Some transactions are a few hundred dollars, and some are $8000, $9000. Never a problem.
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#34

09-07-2010, 10:42 PM

Originally posted by Barefootsies

When using PP to receive payments for a service.

1. Receive the money for SERVICE
2. Transfer the money out and to your own checking account.
3. Pay for things via your credit card, debit card, or something else not PP related.

If you receive a payment, say from a client, and then you immediately send out a payment to someone else for something (like design) they will flag you as high risk/money laundering. This is getting a lot of people's accounts closed in accordance with anti terrorism, and money laundering laws.

So to avoid this, you need to transfer the money to your own account, and then pay via some other form of personal payment Paypal can't see. This way, if you were to pull a fraud, PP could then claim the money from your personal bank account. Where as, if you transfer out immediately, they can't do shit and they lose the money.

I am sure many have made this same exact error I did. So now you know.

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#35

09-08-2010, 12:07 AM

Originally posted by woj

"Under the legislation, PayPal will be required to report to the IRS the total payment volume received by PayPal customers in the U.S. who:

1. receive more than $20,000 in payment volume in a single year; and
2. receive more than 200 payments in a single year.

This legislation applies to all payment providers including PayPal and takes effect in 2011, so the first reports will go to the IRS in January 2012."

Does that sound right? or did you hear a different version?

Well, I don't receive more than 20k a year there anyway...

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#36

09-08-2010, 01:20 AM

I've never had a single problem with PP at all. Just don't use it for adult and there will never be any issues, unless you do funny shit, then you are asking for issues but that would be with any type of bank.

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#37

09-08-2010, 11:00 AM

Originally posted by Argos88

paypal is strange...

they process adult ILLEGAL forums like EXTREME-BOARD.com since long time, but then they ban honest mainstream webmasters... just weird... seriously.

.

I know MANY MANY other illegal boards that use paypal.... I think they use fake business names, like "I am selling toilet paper", and paypal believes it...

anyway PP is been topnotch with me so far.... for many years...

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#38

09-08-2010, 11:05 AM

Originally posted by nikki99

I know MANY MANY other illegal boards that use paypal.... I think they use fake business names, like "I am selling toilet paper", and paypal believes it...

anyway PP is been topnotch with me so far.... for many years...

Plus they encrypt their user id,so only way to see it to send money by yourself.
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#39

09-08-2010, 11:13 AM

I've only had problems with the stupid dispute something and they freeze it bollocks.

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#40

09-08-2010, 11:51 AM

Paypal sucks...
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#41

09-08-2010, 11:55 AM

I thought you didn't do conversions to/from paypal.......

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#42

09-08-2010, 12:03 PM

Originally posted by HighEnergy

I guess you're new to PayPal and don't really know what's up yet. Your original post, your "Free PayPal Tip of the Day" is not even remotely close to factual in regards to day-to-day business with PayPal.

Should You Email Your Members?

Link1 | Link2 | Link3

Enough Said.

"Would you rather live like a king for a year or like a prince forever?"
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