8 ms·

Hey there, I'm currently banned from PayPal, and I actually went through what you did. I filed an arbitration using a service called FairShake (https://fairsha

by tpae 4y ago

Hey there, I'm currently banned from PayPal, and I actually went through what you did. I filed an arbitration using a service called FairShake (https://fairshake.com/ https://fairshake.com/), and finally they decided to settle with me. They said they will give me my money, but I can no longer use any of their services including Venmo. I agreed and took the money. Happy to answer any questions regarding my experience, feel free to telegram me @tdpae

yieldcrv 4y ago
I’ve gotten around venmo bans with a new email address, new card, and staying under the KYC transaction size limit actually not necessarily even a new card if you’ve used AMEX Send thats valid in lieu of the exact same AMEX Card it was linked to
- AinderS 4y ago
  What you're doing may be considered "structuring" [1], which under the demented laws of the US can land you in jail. [1] https://en.wikipedia.org/wiki/Structuring https://en.wikipedia.org/wiki/Structuring
  - yieldcrv 4y ago
    Cute, fortunately structuring relies on avoiding regulatory thresholds for reporting and the KYC threshold that venmo sets is a completely arbitrary company policy that has nothing to do with the law and has nothing to do with reporting that a licensed financial institution needs to do or for reporting to a regulator Thanks for your concern, this is just circumventing a dark pattern of poor UX
  - from 4y ago
    The law on structuring (https://www.law.cornell.edu/uscode/text/31/5324 https://www.law.cornell.edu/uscode/text/31/5324) is about evading the $10,000 reporting threshold for financial institutions taking cash deposits or businesses taking cash payments for goods/services. If they are perpetuating some kind of fraud on Venmo making multiple accounts to do so in violation of the ToS is maybe wire fraud (so is just about everything) but by itself is probably not illegal.
gurchik 4y ago
Did they ever give an explanation for the ban or was it some no answer like "please review the terms and conditions"?

by tpae 4y ago

yieldcrv 4y ago

I’ve gotten around venmo bans with a new email address, new card, and staying under the KYC transaction size limit actually not necessarily even a new card if you’ve used AMEX Send thats valid in lieu of the exact same AMEX Card it was linked to

AinderS 4y ago
What you're doing may be considered "structuring" [1], which under the demented laws of the US can land you in jail. [1] https://en.wikipedia.org/wiki/Structuring https://en.wikipedia.org/wiki/Structuring
- yieldcrv 4y ago
  Cute, fortunately structuring relies on avoiding regulatory thresholds for reporting and the KYC threshold that venmo sets is a completely arbitrary company policy that has nothing to do with the law and has nothing to do with reporting that a licensed financial institution needs to do or for reporting to a regulator Thanks for your concern, this is just circumventing a dark pattern of poor UX
- from 4y ago
  The law on structuring (https://www.law.cornell.edu/uscode/text/31/5324 https://www.law.cornell.edu/uscode/text/31/5324) is about evading the $10,000 reporting threshold for financial institutions taking cash deposits or businesses taking cash payments for goods/services. If they are perpetuating some kind of fraud on Venmo making multiple accounts to do so in violation of the ToS is maybe wire fraud (so is just about everything) but by itself is probably not illegal.

gurchik 4y ago

Did they ever give an explanation for the ban or was it some no answer like "please review the terms and conditions"?