Financial information

[Jmcinvale]

My PayPal was limited several years ago to where I cannot use their services anymore due to something that looked completely legit with no reason whatsoever to suspect it was not legit only later on it was found to be not legit.

My girlfriend's son had sold something and transferred the money to me to give to her. Neither of us had any way of knowing and had absolutely no reason whatsoever to suspect he actually sold something he didn't have, but no matter how I tried to explain, PayPal wouldn't budge.

Anyways I'm fine with their decision as nothing will change their minds.

However the major problem I have is they still have my financial information on file even though there is absolutely no legitimate reason whatsoever for them to still have it on file and they absolutely refuse to remove it.

How can I get my financial information completely removed?

I don't like anyone having my financial information when there is absolutely no legitimate reason whatsoever for them to have it.

Makes me more vulnerable as if they get hacked my financial information could potentially be exposed to the hacker and they could use it to get money.

[kernowlass]

@Jmcinvale 

https://www.paypal.com/us/smarthelp/article/HELP345

[Jmcinvale]

"As a financial service company, PayPal is required by law to retain information related to the provision of financial services to our customers for a certain time, during which the data may not be erased. Your data may be automatically erased once the retention time has ended and there's no other legal reason to keep it longer."

That's rather vague as they do not state the law nor how long.

"We retain data to comply with the law, prevent fraud, collect any fees owed, resolve disputes, troubleshoot problems, assist with any investigations, enforce a site's terms and conditions, protect PayPal from legal risks, and take other actions otherwise permitted by law in the country and regions where we operate."

So in effect since they thought I did something fraudulent (according to them I knew about it even though I actually didn't know and had no way of knowing), they according to that could keep my data indefinitely even if there's no legal reason to do so.