PayPal as a payment method

Hello @Tony.V !
Are you planning to add PayPal as a payment method for Invest accounts as well?
Thank you

Itā€™s not supported by PayPal.

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It is supported by PayPal. Just not with CFDs.

Edit: I thought this is the Amex, thread. PayPal is already there for CFDs, for ISA/Invest coming next hear Q1/Q2 like Tony said.

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PayPal is currently not available for the Invest/ISA accounts. Yet, this is about to change soon - not a while ago we spoke with them again regarding the matterā€¦ so stay tuned. ETA: 2021 Q1-Q2.

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Hi guys,

I canā€™t see the PayPal option on the CFD accounts. Am I doing something wrong?
Is this maybe dependent on being a EEA or non EEA account?
Thanks

So 1 year later PayPal is still not available as an option, why ?

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PayPal does not allow deposits into investing accounts, I think itā€™s in their policies or something along those lines. Itā€™s available in CFD, and if you previously wanted to you could deposit there and transfer the cash over. But now with the introduction of fees for various payment methods in the invest and ISA, I wouldnā€™t do that as they said they will be detecting any activity where someone is using the CFD side for free deposits into the ISA.

That`s sound partially true about PayPal. How it is possible for eToro to use PayPal, but here is not allowed? Are you familiar with this comparison ?

I have no idea, I tried to find the post which said the reason but I couldnā€™t but Iā€™m pretty certain there was a reason they couldnā€™t do it

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Not an expert on all of the regulatory requirements, but it might be something to do with KYC and/or money laundering rules.

Unless PayPal have become more strict on it (itā€™s been years since I created mine), you can create an account without any verification of your identity and receive money into it. That feels like itā€™s asking for trouble with traceability and proof of where your funds came from.

My job involves developing software which processes payments, so I maybe know more than the average Joe, but to reiterate I am not a lawyer or an expert on the rules and thatā€™s why we have other people responsible for compliance :grin:.

Not being able to use Paypal on my invest account is the only thing atopping me from switching from Etoro to T212ā€¦ can anyone from the T212 team give an update on this request?

If not can anyone provide an altrrnative that doesnā€™t involve me converting my currency from USD to GBP, im a Uk resident and dont have a US bank account.

You can deposit on CFD and move the funds over?

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Thank you ! I just found this out from another post too