I made the effort to call PayPal and ask about BItcoin - CRYPTO NOT ALLOWED

[CrackedLogic]

TL:DR

PAYPAL DOES NOT ALLOW EXCHANGES WITH ANY CURRENCY, YOUR ACCOUNT CAN BE BANNED

So I've been reading about Spoetnik's trust abuse, and I've saw that it's related to PayPal. So being curious me, wanting to end the trust warfare, I decided to look at PayPal's ToS,  I couldn't find anything directly, so I decided to drop their support and email, I asked whether or not I was allowed to use PayPal to buy or sell bitcoin. The next day I got a call from PayPal and I spoke to one of their representatives. Her answer to my question was no. PayPal no longer allows any virtual currency due to "security risks".

I asked her to forward me a written confirmation,  I will be taking out any personal information. This Is what I got from her.

Email before our call:

Jan
20
PayPal Customer Support
RE: MyAccount (ID: [MY Account ID here])
* To view the entire message on a separate window, click Print then select Cancel.

 

Dear [MY NAME],

 


I hope you are doing well today. My name is [PAYPAL REPRESENTATIVE] from PayPal Customer Service. I understand that you need assistance with using cryptocurrency on your PayPal account. I am happy to assist you today.
 

 

PayPal discontinued the use of  virtual currency such as Bitcoin for security purposes, I am glad to inform you that South African payPal account allows you to make an online purchase using a credit or cheque card.

 

To help you, I have outlined the steps below on how you link your card on your PayPal account.

Log in to your PayPal account.
Click Profile near the top of the page.
Click My money.
Click Update (if you are adding an additional card) or Add my card (if you have no other cards linked to your PayPal account) beside Debit and credit cards.
Click Add a Card.
Select the Card Type and enter the required information.
Click Add Card.
 

We'll be glad to hear from you if you need clarification or assistance. Please don't hesitate to email us again. You can also call us at 0861-729-725 (local South African number) or +1-402-517-4519 (U.S. telephone number) Monday to Friday, 9:00 AM to 5:30 PM local South African time.

 


Thank you for choosing PayPal. Have a great day!


Sincerely,

[PAYPAL REPRESENTATIVE]
PayPal,
Copyright © 1999-2016  PayPal. All rights reserved.

The Email after our call:

Jan
21
PayPal Customer Support
PayPal Cosnumer Support
* To view the entire message on a separate window, click Print then select Cancel.

 

Dear [ME],

 


I hope you are doing well today. My name is [PAYPAL REPRESENTATIVE from PayPal Customer Service.

 

It was my pleasure speaking with you today [ME], according to the PayPal Acceptable Use Policy updated on July 1, 2015, using bitcoin to transfer or “top-up” Paypal is “illegal,” as it violates one of the terms of the official policy:

 

“You may not use the PayPal service for activities that relate to transactions that involve currency exchanges or check cashing businesses”

 

Although many exchanges and bitcoin payment service providers claim bitcoin-to-paypal transfer service is legitimate and “legal,” it clearly violates one of the terms of the PayPal Acceptable Use Policy regarding currency exchange.

 

Technically, Paypal users are not allowed to exchange Paypal balance for digital currencies and bitcoin users cannot exchange the digital currency for Paypal balance. Over the past few months, Paypal has abruptly closed many Paypal accounts suspected of bitcoin and cryptocurrency trades.

 

The legality of bitcoin-to-paypal transaction services offered by leading exchange is still left undecided. However, the Paypal team asserts through its terms and conditions that all bitcoin / digital currency related activities are banned.

 

We'll be glad to hear from you if you need clarification or assistance. Please don't hesitate to email us again. You can also call us at 0861-729-725 (local South African number) or +1-402-517-4519 (U.S. telephone number) Monday to Friday, 9:00 AM to 5:30 PM local South African time.


 


Thank you for choosing PayPal. Have a great day!


Sincerely,


[PAYPAL REPRESENTATIVE],
PayPal,
Copyright © 1999-2016  PayPal. All rights reserved.


 
 
Consumer Advisory - PayPal Pte Ltd, the Holder of the PayPal  payment service stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (users) are advised to read the terms and conditions carefully.

Here the PayPal ToS states that:
https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full

relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f) are associated with the sale of traveler's checks or money orders, (g) involve currency exchanges or check cashing businesses, (h) involve certain credit repair, debt settlement services, credit transactions or insurance activities, or (i) involve offering or receiving payments for the purpose of bribery or corruption.

I hope this clears up any doubts, aggressive behaviour or any inappropriate behaviour. Spoetnik, I may have proved your point in a way, but please act in a civil manner.

[1713533162]

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[foggyb]

They don't allow virtual currency, but paypal itself is a form of virtual currency. Kind of ironic.

[mtnsaa]

Well I can understand that Bitcoin is a very grey area so they are not ready to implement that yet (hopefully this starts to change after Wences Casares from Xapo starts working after being named to Paypal's board). However I find it really unfair to suspend or ban accounts just for buying Bitcoin. I've actually done this myself once but nothing happened luckily. A warning email about the dangers of it would be more than enough.

[CrackedLogic]

Well I can understand that Bitcoin is a very grey area so they are not ready to implement that yet (hopefully this starts to change after Wences Casares from Xapo starts working after being named to Paypal's board). However I find it really unfair to suspend or ban accounts just for buying Bitcoin. I've actually done this myself once but nothing happened luckily. A warning email about the dangers of it would be more than enough.

It's not only bitcoin though, from what I understand, it's any type of currency exchanges.

[mtnsaa]

Well I can understand that Bitcoin is a very grey area so they are not ready to implement that yet (hopefully this starts to change after Wences Casares from Xapo starts working after being named to Paypal's board). However I find it really unfair to suspend or ban accounts just for buying Bitcoin. I've actually done this myself once but nothing happened luckily. A warning email about the dangers of it would be more than enough.

It's not only bitcoin though, from what I understand, it's any type of currency exchanges.

Yes, something similar happened for years, I would say decades and it was the relationship between Paypal and gambling/casino sites. I'm sure many got banned for using it or for offering Paypal deposits in their sits. But they silently started to accept it not so long ago so maybe the time is coming for them to adopt Bitcoin, and as I mentioned earlier, the hiring of Casares is a clear sign something is brewing.

Check this article: http://www.cnbc.com/2015/09/15/paypal-quietly-re-enters-online-gaming.html

[BitHodler]

Nothing new, you could have saved your time waiting when you could easily scroll through their site to find what you were looking for.

I find their policy towards Bitcoin to be not of this time and very hostile towards Bitcoin. We can only act by stop using PayPal entirely. That will be a good begin.

[walwus]

Hasn't the whole PayPal vs Bitcoin feud been known info for quite some time now..?

[CrackedLogic]

Hasn't the whole PayPal vs Bitcoin feud been known info for quite some time now..?

If you take a look at the reputation section there's a few threads about a user giving negative feedback about PayPal and exchanging it for bitcoin.

As far as I know, the users contesting against him didn't realize that this wasn't allowed, so his feedback is valid.

[CrackedLogic]

Nothing new, you could have saved your time waiting when you could easily scroll through their site to find what you were looking for.

I find their policy towards Bitcoin to be not of this time and very hostile towards Bitcoin. We can only act by stop using PayPal entirely. That will be a good begin.

Yeah I didn't find anything directly towards bitcoin, I saw the currency exchange bit, I was just confirming that.

However, PayPal have tried to impletement bitcoin, they used braintree for merchant accounts to accept bitcoin payments, aside from the odd "security risk" they had, it's more likely that they were losing money.
If this is the case PayPal won't allow bitcoin till it becomes widely adopted by the world.

[teddy5145]

Nothing new, you could have saved your time waiting when you could easily scroll through their site to find what you were looking for.

I find their policy towards Bitcoin to be not of this time and very hostile towards Bitcoin. We can only act by stop using PayPal entirely. That will be a good begin.

Yeah I didn't find anything directly towards bitcoin, I saw the currency exchange bit, I was just confirming that.

However, PayPal have tried to impletement bitcoin, they used braintree for merchant accounts to accept bitcoin payments, aside from the odd "security risk" they had, it's more likely that they were losing money.
If this is the case PayPal won't allow bitcoin till it becomes widely adopted by the world.

And in the meantime Bitcoin and Paypal will be arch nemesis until time tells whose the winner is
But I heard that Paypal hired Xapo CEO as their employee, this could be a sign of friendship for Bitcoin and Paypal
Don't worry though as People more aware of what bitcoin is and it will spread around the globe someday

[knowhow]

Lets say paypal has the market on their side ,if they allow bitcoin transaction they would be sharing their service with bitcoin,but if the ceo from xapo went into them i guess they realized they lost some costumers on these last 7 years.

[morantis]

TL:DR

PAYPAL DOES NOT ALLOW EXCHANGES WITH ANY CURRENCY, YOUR ACCOUNT CAN BE BANNED

So I've been reading about Spoetnik's trust abuse, and I've saw that it's related to PayPal. So being curious me, wanting to end the trust warfare, I decided to look at PayPal's ToS,  I couldn't find anything directly, so I decided to drop their support and email, I asked whether or not I was allowed to use PayPal to buy or sell bitcoin. The next day I got a call from PayPal and I spoke to one of their representatives. Her answer to my question was no. PayPal no longer allows any virtual currency due to "security risks".

I asked her to forward me a written confirmation,  I will be taking out any personal information. This Is what I got from her.

Email before our call:

Jan
20
PayPal Customer Support
RE: MyAccount (ID: [MY Account ID here])
* To view the entire message on a separate window, click Print then select Cancel.

 

Dear [MY NAME],

 


I hope you are doing well today. My name is [PAYPAL REPRESENTATIVE] from PayPal Customer Service. I understand that you need assistance with using cryptocurrency on your PayPal account. I am happy to assist you today.
 

 

PayPal discontinued the use of  virtual currency such as Bitcoin for security purposes, I am glad to inform you that South African payPal account allows you to make an online purchase using a credit or cheque card.

 

To help you, I have outlined the steps below on how you link your card on your PayPal account.

Log in to your PayPal account.
Click Profile near the top of the page.
Click My money.
Click Update (if you are adding an additional card) or Add my card (if you have no other cards linked to your PayPal account) beside Debit and credit cards.
Click Add a Card.
Select the Card Type and enter the required information.
Click Add Card.
 

We'll be glad to hear from you if you need clarification or assistance. Please don't hesitate to email us again. You can also call us at 0861-729-725 (local South African number) or +1-402-517-4519 (U.S. telephone number) Monday to Friday, 9:00 AM to 5:30 PM local South African time.

 


Thank you for choosing PayPal. Have a great day!


Sincerely,

[PAYPAL REPRESENTATIVE]
PayPal,
Copyright © 1999-2016  PayPal. All rights reserved.

The Email after our call:

Jan
21
PayPal Customer Support
PayPal Cosnumer Support
* To view the entire message on a separate window, click Print then select Cancel.

 

Dear [ME],

 


I hope you are doing well today. My name is [PAYPAL REPRESENTATIVE from PayPal Customer Service.

 

It was my pleasure speaking with you today [ME], according to the PayPal Acceptable Use Policy updated on July 1, 2015, using bitcoin to transfer or “top-up” Paypal is “illegal,” as it violates one of the terms of the official policy:

 

“You may not use the PayPal service for activities that relate to transactions that involve currency exchanges or check cashing businesses”

 

Although many exchanges and bitcoin payment service providers claim bitcoin-to-paypal transfer service is legitimate and “legal,” it clearly violates one of the terms of the PayPal Acceptable Use Policy regarding currency exchange.

 

Technically, Paypal users are not allowed to exchange Paypal balance for digital currencies and bitcoin users cannot exchange the digital currency for Paypal balance. Over the past few months, Paypal has abruptly closed many Paypal accounts suspected of bitcoin and cryptocurrency trades.

 

The legality of bitcoin-to-paypal transaction services offered by leading exchange is still left undecided. However, the Paypal team asserts through its terms and conditions that all bitcoin / digital currency related activities are banned.

 

We'll be glad to hear from you if you need clarification or assistance. Please don't hesitate to email us again. You can also call us at 0861-729-725 (local South African number) or +1-402-517-4519 (U.S. telephone number) Monday to Friday, 9:00 AM to 5:30 PM local South African time.


 


Thank you for choosing PayPal. Have a great day!


Sincerely,


[PAYPAL REPRESENTATIVE],
PayPal,
Copyright © 1999-2016  PayPal. All rights reserved.


 
 
Consumer Advisory - PayPal Pte Ltd, the Holder of the PayPal  payment service stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (users) are advised to read the terms and conditions carefully.

Here the PayPal ToS states that:
https://www.paypal.com/us/webapps/mpp/ua/acceptableuse-full

relate to transactions that (a) show the personal information of third parties in violation of applicable law, (b) support pyramid or ponzi schemes, matrix programs, other "get rich quick" schemes or certain multi-level marketing programs, (c) are associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card, (d) are for the sale of certain items before the seller has control or possession of the item, (e) are by payment processors to collect payments on behalf of merchants, (f) are associated with the sale of traveler's checks or money orders, (g) involve currency exchanges or check cashing businesses, (h) involve certain credit repair, debt settlement services, credit transactions or insurance activities, or (i) involve offering or receiving payments for the purpose of bribery or corruption.

I hope this clears up any doubts, aggressive behaviour or any inappropriate behaviour. Spoetnik, I may have proved your point in a way, but please act in a civil manner.

Really?? lol, https://www.cryptocoinsnews.com/breaking-paypal-merchants-can-now-accept-bitcoin/

[shorena]

-snip-
Really?? lol, https://www.cryptocoinsnews.com/breaking-paypal-merchants-can-now-accept-bitcoin/

Did you need to quote all that for a single sentence?

Yes, really, paypal is not accepting bitcoin, but rather working with a few companies that do so. The ToS still apply and if you do a peer to peer trade, e.g. via this forum you will have problems with paypal if bitcoin was involved.

[CrackedLogic]

-snip-
Really?? lol, https://www.cryptocoinsnews.com/breaking-paypal-merchants-can-now-accept-bitcoin/

That is correct, but however if you look at the date, it was way back in 2015. PayPal have stopped, if you looked above in one of my previous posts, I did mention this before.

[BellaBitBit]

They don't allow virtual currency, but paypal itself is a form of virtual currency. Kind of ironic.

Exactly, ridiculous and makes no sense.  Also stating due to security reasons - yet paypal has security issues themselves.

[CrackedLogic]

They don't allow virtual currency, but paypal itself is a form of virtual currency. Kind of ironic.

Exactly, ridiculous and makes no sense.  Also stating due to security reasons - yet paypal has security issues themselves.

Although PayPal is a virtual currency, that's not the point they're trying to convey. PayPal is a virtual form of fiat. Bitcoin is a cryptocurrency.
There's a difference between them. They do not see that Bitcoin would be "secure enough", and yes, it is ironic that they have security issues, but from their point of view,
They'd rather have 1 issue than 2.

[knowhow]

Lets say they are scared and not ready to see the volume of bitcoin being trade into fiat by their service,as we know we most prove the origin of huge ammount of money..