Paypal makes you have a cash account to use P/P balance

[harddriver]

I'm not sure when this became a thing with Paypal ( this past year or so) but I used to be able to just buy stuff with money that was paid into my P/P account balance. Now when I receive a payment from someone I need to "ACCEPT" the money and either transfer the balance to my linked bank account or it offers to create a cash account so I can spend my money directly from my PP account.

WTF is this? Why must I create another subaccount within my PP account just to use the current balance, it kind of defeats the implied simplicity of PP does it not?

 

[Monkey Man]

Why must I create another subaccount within my PP account just to use the current balance, it kind of defeats the implied simplicity of PP does it not?

Indeed it does IMHO, mate.

Fits the trend of "more red tape" 'though, doesn't it?

 

[CornNutz]

Hmm, My papal account works normal. When someone sends money it just goes toward my papal balance automatically (which just happened on the Sep 1)
From there I can use paypal to pay for stuff from my paypal balance, or transfer to my bank account.

EDIT: it calls the paypal balance "PayPal Cash Plus account" so you probably just need to allow it to create that "Cash Plus account", then you'll be all good

EDIT AGAIN: It's because of a new federal regulation in 2019
https://cross-border-magazine.com/us-us ... 9th-march/

 

[MetalHeadMike]

PP phucking blows, but it's convenient. Catch 22 for sure.

 

[harddriver]

So according to this article it should have already set itself up since I had a confirmed account prior to their cutoff date??? or if I did not setup this so called cash account between the 14th and 25th of March then I won't be able to hold balances like I used to??? I guess I'll click on the next step to see what the parameters for setting up this new cash account system is, but from what I read it should have already by default set one up.

The reason for these changes is a new federal regulation that comes into effect on April 1st, 2019. US personal account holders who want to keep money in PayPal or use other features that rely on a balance will need to have a balance account linked to their personal account. These upcoming changes only impact US-based PayPal users, but if UK or EU sellers have an entity set up in the US with a US PayPal account then they may also see a change. However, chances are that you are already fully verified with PayPal and that you do not have to change anything in your account.

If you have a personal PayPal account and have confirmed your identity with PayPal before the 13th of March 2019, you do not have to do anything. PayPal will automatically link a balance account between the 14th and 25th of March.

If you do not have a PayPal Cash Plus account after the 29th of March and do not want to hold a balance in your PayPal account then you also do not need to do anything. You will still be able to receive money with a personal PayPal account and transfer it to a linked bank account or debit account, but you will not be able to hold and use a balance in your personal PayPal account. If you have not received a PayPal Cash Plus account on or before the 29th of March and want to hold a balance in your PayPal account then you will need to set up a PayPal Cash or PayPal Cash Plus account.

 

[Monkey Man]

So according to this article it should have already set itself up since I had a confirmed account prior to their cutoff date??? or if I did not setup this so called cash account between the 14th and 25th of March then I won't be able to hold balances like I used to??? I guess I'll click on the next step to see what the parameters for setting up this new cash account system is, but from what I read it should have already by default set one up.

They probably just need you to "OK" it, bro', with the rest of the process' being automatic.

Hmm, My papal account works normal. When someone sends money it just goes toward my papal balance automatically (which just happened on the Sep 1)
From there I can use paypal to pay for stuff from my paypal balance, or transfer to my bank account.

EDIT: it calls the paypal balance "PayPal Cash Plus account" so you probably just need to allow it to create that "Cash Plus account", then you'll be all good

EDIT AGAIN: It's because of a new federal regulation in 2019
https://cross-border-magazine.com/us-us ... 9th-march/

You're all over it like white on rice, mate. Well done.