PayPal's demand for additional personal information - after being a customer for over 17 yrs

[Temp20230206]

I've been a PayPal customer since 2002 and recently PayPal has questioned who I am (after profiting all this time from me being me) and has limited my account and demanded that I transmit personal information to them over the internet which I am unwilling to do.

Of course, being what I consider an ethically bankrupt company, PayPal is also holding ransom funds in my account until I capitulate.

I would ask how is this even legal and in the meantime I'll just keep using Amex for all my online purchases, since Amex basically provide the same purchase guarantees that PayPal does.

[sharpiemarker]

@Temp20230206 

It's not about how old your account is. It is the federal/economic (tax) laws in recent years that require PayPal to request this information to comply with AML/KYC/US Patriot Act laws. PayPal also has to verify if you're the real owner of your account. Can go rogue no more, real world laws is catching up with virtual world.

[Temp20230206]

The fact remains, PayPal is requesting that I transmit my personal information over the internet which I am not going to do. Security experts say this is a bad idea, increases the risk of identity theft.

As for the money PayPal has conveniently kept in my account, the fact that I am only wanting to transfer this to my personal bank account, in which case my bank has already complied with the law here in Canada, having confirmed for 100% that I am who I say I am, this should be enough.

Regardless, I need PayPal like I need someone to kick me in the head. 

Paypal is now officially redundant in my world. My bank and my credit cards are all that I need from this point on, for all my online purchases.