posted on September 28, 2006 05:11:35 PM new
Anyone get this email from Paypal regarding the Money Market accounts? The email wants us to fax to Paypal...
1) A copy of the Letter of Acceptance or Business Certificate you received from the IRS. The letter should show your business name & EIN or Tax ID number
OR
2) A copy of your articles of incorporation and utility bill in the name of the business matching the name and address on your Paypal account.
It claims that pursuant to USA Patriot Act, the US Dept of Treasury and SEC require Paypal Money Market Fund to obtain, verify and record information that identifies each person and entity that opens an account in the fund.
What seems odd is that we have had a MM fund for at least two years, so why all of a sudden now? Plus, it seems to go against Paypal's security policies of asking sellers to submit personal information to them in this manner.
posted on September 29, 2006 04:31:21 PM new
Did you go look up Patriot act to see what exactly it says. I would think it may be a scam send it to spoof @paypal and see if it is a real email or not. I did once and they actually said yes that the email was valid from Paypal. Don't remember what it was about but not anything real big. I certainly would not fax anything until I heard from Paypal by phone or email if it is a valid request.
************** Mascot for a week.
posted on October 7, 2006 06:32:01 PM new
I would NEVER respond to any request by any company with financial info by email.That way, you won't get into trouble. Most sellers on paypal don't have a business license, they use their SS# in that place. I think it is a grab for for personal information.
I haven't gotten such a letter, but I would ignore it unless it came to me via postal mail, and even then I would verify the authenticity before responding.
Mascot for a week.