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I’ve been a Paypal customer for as long as I can remember. At the beginning just for purchasing stuff online and later on I started selling a few items every once in a while.
About 5 months ago I started selling iphone unlock services for eBay customers. Since I was one of the first ones incurring on this business I got a very very high volume of sales. At first everything was just fine, Paypal noticed my customers were happy and I had started getting tons of positive detailed seller ratings and they decided to remove the 21 days hold policy they have when you are a new seller. After things started getting bigger, I was getting orders from stores internationally and I was happy seeing ,my business thrive, I had zero negative feedback, the worst I got was a neutral from a jerk whom I had reported that wanted to blackmail me so I could give him a free unlock in exchange for good feedback.
The thing is that one morning I get this crazy email that my account had been blocked and that I needed to provide Paypal with some information. I called as soon as I could and they started asking me how was it that I was charging people for something AT&T does for free and that they thought my business was a huge liability because I was getting hefty payments from store owners in other countries.
After the whole deal they evaluated my account and decided to place a hold on $2000 and as if that wasn’t enough they started doing what they call a rolling reserve where they will hold 15% of all the sales I make through Paypal for 6 months until they reevaluate my account again. So 6 months from today for example ill get 15% of the sales I make today, the same for the sales tomorrow, etc. As per them this was a protection so they could prevent credit card payments from being claimed as fraudulent by the cardholders.
It’s been 5 months and not a single chargeback or dispute has been placed, not a single one, and I’ve gone through 500-600 unlocks performed… So I called yesterday and asked them to reevaluate this issue so they could release my money because I certainly need it. They said nothing can be done until 6 months have passed. So I’ve been thinking why in hell Paypal thinks they have the authority of holding people’s money just like that. There’s money that ill have to wait till next year before I can have it back and that’s seriously fucked up cause I know they are using it and making a profit off it.Similar Complaints
Posted: October 5, 2012 at 2:39 pm