Mike’s Personal Blog

I signed up more than a week ago for a Paypal Philippines business account and though it is clear that Philippine accounts can’t receive money yet, I’m still pleased to know that the Philippines is now at least included in their list of countries. My excitement was even more increased when I got a letter from them telling me that my account was locked and that I have to submit supporting documents to prove the existence of my business. Are they really getting serious?

Here’s a copy of said email.

Dear Michael John Lopez ,

PayPal as a regulated financial services company is required under law
to assess its customers against certain lists of individuals and
entities which have had sanctions imposed against them. PayPal as a
financial institution is required to comply with these regulations in
multiple jurisdictions where we do business.

Where a potential business name match is identified, PayPal's policy is
to lock the account and request further identifying documentation. The
decision to lock your account has been taken solely by PayPal in line
with its compliance policy in regards to the legislation covering
financial sanctions.

We apologize for any inconvenience this may cause. To regain access to
your account, provide the following documentation within the next seven
days:

" A copy of a business registration, certification, or license
" A copy of a utility bill verifying your business address

Include the email address associated with your PayPal account on all
copies.

Fax the information to Attention: Compliance at +303-395-2802 or mail
the documentation to:

PayPal, Attention: Compliance
P.O. Box 45950
Omaha, NE 68145
United States

PayPal currently does not accept scanned documents. Reply to this e-mail
with all questions at complianceverifications@paypal.com.

Sincerely,
Kevin
PayPal Compliance Department
PayPal, an eBay Company

Copyright © 1999-2006 PayPal. All rights reserved.
Consumer advisory - PayPal Pte. Ltd., the holder of PayPal’s stored
value facility, does not require the approval of the Monetary Authority
of Singapore.  Users are advised to read the terms and conditions
carefully.

As you can see, they are now requiring me to submit my documents and that my friend to me is a good sign. Kudos to the movers of Paypal Philippines!