Can't transfer funds

jw105
New Community Member

I am attempting to send the funds I have earmed on this acct thru surveys at my school to my actual Paypal acct. I had to sign up with paypal using my school email address so I could have the funds transferred to me. Anytime I try to transfer, I get an error saying that "sorry, we cannot process this at this time." I don't want to veriify this acct since I have a verified acct already. All I want to do is transfer my Paypal balance from this acct to my other acct. Is there a system issue preventing me from doing this?

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1 REPLY 1

snowshoe
Frequent Advisor
Frequent Advisor

You need to verify the account, does not matter what your intent was as there are new requirements.

 

All US financial institutions such as banks, credit card issues and 3rd party transaction processors such as PayPal are required by law to reasonably verify the identity of the person behind any and all Accounts into which money is collected. Verification mitigates money laundering and terrorist financing.  PayPal takes advantage of the fact that you had to prove to the bank you are who you say you are.  Therefore, by linking and confirming your bank account, the background work has already been done and PayPal has now met the legal requirements to protect themselves.

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