Paypal forces you now to send G/S payments?

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I think this is a new change, I don't think there's option in some circumstances for F/F payments

Just had to send a G/S payment to a friend and it was pretty annoying, could be depending on the account

Anyone with more information?

It's also a good reminder to try out Wise: https://wise.com/
 
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Or venmo. That is how I’ve been sending to friends lately.
 
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If this is true will be very annoying because for good and service you will have to pay fees..
 
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that must be very recent, since I sent a F/F payment a couple of weeks ago.
 
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It is recent, as of today, but it's a strong nudge, not a force. Here's the default screen that comes up--it no longer has the Friends and Family option:
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If you click on "Change," you get the option to choose:
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Pretty obnoxious in my opinion, though not surprising.
 
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Pretty obnoxious in my opinion, though not surprising.

I agree, not surprising, because...

If this is true will be very annoying because for good and service you will have to pay fees..
 
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This has been implemented for awhile now. Just need to make sure you switch to FF before sending.
 
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Yes, it has been that way for a while now, so the thread title seems to be a false alarm.
 
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It's an early warning system - I can send F/F to some people and the option no longer shows up to some

 
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I wonder if it is related to whether the recipient has a business account with PayPal.
 
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Likely, yes

I think it's a 2-3 weeks old change
 
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Someone in Singapore couldn’t F&F me (in Canada), I thought maybe it was a country thing
 
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I wonder if it is related to whether the recipient has a business account with PayPal.

yes. You cannot use F&F anymore for non personal accounts.
 
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It is also undesirable, because I believe that for those of us in the U.S., proceeds from G&S transactions will be reported to the IRS as 1099 income. https://www.paypal.com/us/smarthelp...RS-Will-I-receive-a-1099-tax-statement-FAQ729

Phew, is this new? I don't have it for 2021

Wise is pretty awesome in this regard too, the same account has both a personal page and a business page, you can't make payments from business bank accounts to personal payment accounts any more, so I guess they adapted to things this way
 
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Pretty scummy that anything above $600 needs to be reported

Let's say a friend sends $1000 to you, and if a normal person sends it, they'll definitely send it as a G/S by mistake - Paypal will take $40 as fees, then if you don't want to be reported to IRS, you need to pay $1040 to have it refunded, as Paypal doesn't refund fees once they get their hands on the money
 
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Phew, is this new? I don't have it for 2021

Wise is pretty awesome in this regard too, the same account has both a personal page and a business page, you can't make payments from business bank accounts to personal payment accounts any more, so I guess they adapted to things this way
Yes, new-ish (see below) for 2022.

Pretty scummy that anything above $600 needs to be reported

Let's say a friend sends $1000 to you, and if a normal person sends it, they'll definitely send it as a G/S by mistake - Paypal will take $40 as fees, then if you don't want to be reported to IRS, you need to pay $1040 to have it refunded, as Paypal doesn't refund fees once they get their hands on the money

Yes, I believe the threshold used to be $20,000, and some are trying to lobby congress for a lower threshold. Either way, the "way out" as I understand it, at least for items that you're not making a profit on, is to provide receipts for those items come tax time...

https://www.thetaxadviser.com/news/2022/mar/new-lower-form-1099-k-threshold-cautions-criticisms.html
 
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Yes, new-ish (see below) for 2022.



Yes, I believe the threshold used to be $20,000, and some are trying to lobby congress for a lower threshold. Either way, the "way out" as I understand it, at least for items that you're not making a profit on, is to provide receipts for those items come tax time...

https://www.thetaxadviser.com/news/2022/mar/new-lower-form-1099-k-threshold-cautions-criticisms.html

It's a good read, thank you - next tax season won't be fun for me though 😀
 
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Don't worry guys the US Government just wants the billionaires to pay their fair share. This won't affect any of us.

In all seriousness this is very annoying and making any kind of hobby like this one much harder to continue without having to start factoring in taxes or making sure we trade less than $600 worth of watches each year.
 
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Maybe Paypal is also feeling the pinch from all of those competing money transfer services and they’re trying to make money everywhere they can.