PayPal holding payment for Iranian coin

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PayPal holding payment for Iranian coin

#1 Unread post by Greyhound » Sat May 23, 2020 1:48 pm

A couple days ago I attempted to order a NGC graded 1956 1 Pahlavi gold coin that dates from the reign of the last Shah of Iran, Mohammad Reza Pahlavi. I had previously purchased a 2.5 Pahlavi coin and thought it would be nice to have another denomination. I placed my order with a New Jersey rare coin dealer and paid with PayPal. I immediately got an email from PayPal stating the following:

“To comply with government regulations, PayPal is required to review certain transactions. The payment you sent is currently being reviewed and we will complete this process within 72 hours. This review only involves this transaction and does not affect the use of your PayPal account.”

After researching the reason for this, it turns out that any PayPal purchase you make that contains a word like Iran, Persia, Persian, etc. will result in a hold on your payment until PayPal decides you're really not funding Iranian terrorists. Doesn't matter that the purchase is entirely within the US and does not transfer a single penny to the country of Iran, you still get flagged. You could be adopting a Persian cat from an animal shelter and the same thing will happen. Extremely heavy-handed and annoying! I haven't heard back yet from PayPal, but I'm not sure they will release the funds after 72 hours, because some people who have had this happen said they first had to respond to PayPal and explain exactly what they were ordering and why their order contains one of the "forbidden" words. I did a chat with a PayPal support person, but they had no authority to speed up the transaction and release my payment. There are a number of other trigger words relating to primarily Islamic nations, cities, people's names, etc. that will also get a payment put on hold. Something to be aware of if you wish to order coins from the middle east or Asia.



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Daniel
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Re: PayPal holding payment for Iranian coin

#2 Unread post by Daniel » Sat May 23, 2020 10:30 pm

Interesting. I didn't know.

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Re: PayPal holding payment for Iranian coin

#3 Unread post by Paul » Sun May 24, 2020 7:23 am

Welcome to 2020.............
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Re: PayPal holding payment for Iranian coin

#4 Unread post by Greyhound » Sun May 24, 2020 12:37 pm

Update: It took two days, but PayPal finally released the hold on my payment to the coin dealer without asking me any questions about the transaction.

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