old paypal users pls read and reply

[DNFreek]

yesterday i recieved a 700$ payment fmro some one, and when i am trying to accept this payment i am getting this message

Your account balance is approaching €1.400,00 EUR. PayPal is required by law to inform you that the UK Financial Services Compensation Scheme does not apply to claims for e-money issued by PayPal.

In the unlikely event that PayPal becomes insolvent, your e-money balance may become unusable. By clicking on the checkbox below you acknowledge that you understand this warning and accept that your balance, at any time, may exceed €1.400,00 EUR. If you choose not to accept this warning, the payment will be denied.

I acknowledge that I understand and accept this warning

what is this can some one please explain

thanks in advance

 

[Focus]

Call paypal

 

[dolansco]

If paypal goes bust , you loose your money ..

Not Likely , but they are required by law to tell you. Most financial instutions are part of a compensation scheme , Paypal are not ( over a limit ? ) , so they must warn you ... thats all

 

[DNFreek]

thanks alot i am really new to paypal
and also this has nothing to do with my balance limit

 

[companyone]

Looks like a scam...i would be careful about clicking on any links in this email.

Peace,
Dan

 

[BLazeD]

Looks like a scam...i would be careful about clicking on any links in this email.

Peace,
Dan

Yeah... make sure you are on the proper Paypal site!

 

[Shaggy]

But its not a email, is it? I figured he was in his paypal account.

 

[Welkin]

If paypal goes bust , you loose your money ..

Not Likely , but they are required by law to tell you. Most financial instutions are part of a compensation scheme , Paypal are not ( over a limit ? ) , so they must warn you ... thats all

I think it's not a scam and fully agree with dolansco's version.

 

[Onward]

Call paypal

This is the only advice you need here.

 

[dolansco]

CALL PAYPAL This is the only advice you need here.

Indeed... I stand over my above synopsis , but I would call and ask , seeing as you seem to be from USA , and are getting a European message ( ie the € symbol and Uk financial message ---- both of which are normal for EU accounts ) , that is unless you have a European Paypal account.

 

[DNFreek]

yes it was in my paypal account when i try to accept the payment not from email etc

my acount is a german account , i opened it in euro first and verified it fmro my german bank ,later i converted it to US$

also i posted this on other forum and got these replies

The UK has very strict financial regulation, which affords UK savers and borrowers quite a lot of legal protection. It seems they are just reminding you that this protection doesn't apply to your PayPal balance so if they do go bust (very unlikely) you might not get your money back.

Just seems like a routine reminder to me - nothing to worry about.

here is nothing to worry about. As they said, they are just obligated to give you that warning, pretty much like all the standard disclaimers that you sign or acknowledged in life.

You pretty much do not need to worry since there is no indication that Paypal is closing down within the forseeable future.

It means that the UK won't back paypal if they go under. (Which I doubt) Don't worry about it, I keep about 5 X that amount in my paypal at all times and never had a problem with receiving my money.

thought might help others as well

regards

so far what i heard its just a routine reminder of there policies

 

[Thomas Nash]

Maybe nothing to worry about but ive received payments larger than this and never received this warning. Weird.

 

[Dale Hubbard]

PayPal are now a banking operation in Luxembourg, and not just an e-money outfit regulated by the UK FSA. CALL PAYPAL. There may be some changes made since they changed to a fully-fledged bank and now have some strange European Union fiscal obligations.

 

[paulc]

I presume you were expecting the payment?

 

[DNFreek]

i assume it was just a rouitne reminder from paypal about the policies

payment was recieved and withdrawn to bank as well

thanks U all for the help u gave