BP 11122023 129pm - Flipbook - Page 154
4. Is personal information required to establish a PayPal account?
Yes – PayPal is a money transfer business regulated by the United
States Treasury Department and, as such, is obligated to collect
certain information from users (SSN, Name, Address) to verify that the
person establishing the profile is a legitimate US citizen.
5. Are fees charged for a Charity profile?
Yes - Transaction fees of a specific % + $ per donation are charged.
6. Does Venmo lack a data reporting format that makes it efficient for
multipurpose use, such as for both donations and events (i.e., retreats,
food sales, festival tickets, etc.) since it relies on the payee to document
the purpose of the payment?
Yes - Venmo requires information to be entered into the
