Paypal - 18 year old age limit

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droobleZ

droobleZ

Member
Feb 3, 2008
266
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18
Canada
Alright, so I've just turned 17 and I have also just finished one of my first ebooks (not related to making money online or anything). Anyway, I'd like to have visitors be able to use Paypal as a payment processor, but with me being 17, I'm not "suppose" to join Paypal.

So, do they run checks on all their members? I was reading their Terms of Service, and found this legal garbage:
You authorize PayPal, directly or through third parties, to make any inquiries we consider necessary to validate your registration. This may include ordering a credit report and performing other credit checks or verifying the information you provide against third party databases.
​
Basically what I'm asking is, as long as I transfer money I receive to my bank account, there's not much they can really do right? Once it's in my bank account, they can't take out money from it, correct? Also, is there any major legal risk in this?

Thanks for your time and answers!
 


There's no way for them to verify your age...so no. I had a Paypal account when I was 15.
 
Cracker said:
There's no way for them to verify your age...so no. I had a Paypal account when I was 15.
Click to expand...

Not entirely true!

When you hit a certain amount they will ask you to submit copies of drivers licence, passport, etc., before you can withdraw money again. For me it happend around $10,000.

You will probably not run in to problems with smaller amounts...
 
Just found the email from PayPal:
We are sending you this notice because you have received more than 6,500.00 EUR (about 9,500.00 USD) in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money
Laundering regulations to collect information from customers when they
receive more than the set limit in total payments. Please log into your
account, go to the Account Overview page, and follow the instructions there about how to provide the required information. These steps need to be completed as soon as possible to comply with this regulation.
​
Maybe this only applies to customers living in the European Union, but there might be similar rules for Americans.
 
Keep in mind that as long as your under 18, you'll have to automatically lose every dispute people file with you. A friend of mine sold a myspace account with like 10K friends, the guy bought the account, and then myspace deleted the account. The guy opened a dispute and under normal circumstances my friend would have won, because its a virtual item, but the guy reported him as a minor and won.
 
I was about 14-15ish when I started doing this, you should be fine as long as you don't get any disputes. I lost $1,600 through an ebay sale awhile back. Now I'm in college doing this and running a successful local web design company. Still don't know shit about ppc and aff marketing, thus why I'm here. Best of luck to you though.
 
Dreamer said:
Not entirely true!

When you hit a certain amount they will ask you to submit copies of drivers licence, passport, etc., before you can withdraw money again. For me it happend around $10,000.

You will probably not run in to problems with smaller amounts...
Click to expand...

I've never had any more than ~$800 in my account (unfortunately) so I haven't had any of that. I wouldn't have to worry now though because I'm of legal age, anyway.

But that's some interesting information, thanks. Only thing is...I wouldn't trust Paypal enough to keep $10,000 in there :repuke:
 
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