So i posted a comment yesterday that I didn't agree with Paypal's "verification" and "limits". They're illusory because you don't actually exceed a limit the same way you do, say, on your credit card, or weekly debit transactions, or whatever.
This is all a trick by Paypal to try to get you to have them use your bank account information and not let you pay with credit. As far as being "legally required" to do so, that's false, since my account "limit" was $11,200, and as far as I know there's no such limit enshrined in any law of the country I live in, and I should know, I'm a lawyer!
So I phone "customer service" and after a lengthy fight with the condescending, annoying, and useless voice recognition technology, I got an agent who refused to help me and refused to put me to a supervisor, so I insisted. I asked her point blank if she was refusing to put me to a supervisor despite my specific request, for the recording, at which time she relented and said she would put me through to a supervisor.
After which I was put on hold for 15 minutes then Paypal hung up on me.
All this is really about is Paypal wanting to use your bank account, since that's "real money" which they can arbitrage (make overnight interest on) and pay less fees on, than your credit card, which the credit card companies charge fees on. So they are trying to force their customers to divulge confidential bank information. I believe this is unfair business practice.
Paypal should be reminded that a telephone company in Canada was recently found liable for fraud and ordered to pay the maximum penalty according to law for hidden fees and deceptive practices.
If Paypal wanted to be honest about it they would say "it's not in our business model" or better still they could offer a choice of fees on "cash transactions" or "credit transactions".
Instead, they are trying to force customers to do business their way all the while giving them misleading information about what they want. This is unethical, shameful, and just plain wrong.
Hopefully they have the good sense to do something about their shameful business practices.
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