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This website is a collection of horror stories, news reports and other information addressing problems with Paypal, Inc..
I’ve been an Ebay seller for over 4 years and a Paypal account holder for just as long.
I’ve seen and heard of many Paypal horror stories over the years and just figured, like everyone else, that:
a) These people had it coming to them!
b) This is just a ruse to get me to set up my own merchant account!
c) I’m 100 percent legit and these things will never happen to me!
Boy was I a fool!
I used to do about $3-4000 a month on Ebay and 99% of that was transacted through Paypal, this was fine before the beginning of 2004 when Paypal was a seperate entity. When Ebay purchased Paypal and took over at the beginning of 2004 things started to take a turn for the worse. All of a sudden buyers would make payment and I would not get any notification from Paypal, not only that but frequently items that but Ebay’s Selling Manager Pro (an item that I pay for monthly) would not reflect payment, at times for 2-4 days, but many times not at all and I’d have to go in and manually fix the records.
More to the point of this post, I recently added some new products and my Ebay sales have gone over $8000 per month, still most of the transactions are carried out using Paypal. I’ve had a few glitches when getting funds transfered to my bank account, such as waiting for 5 days rather than the advertised 3-4.
Anyway I initiated 3 transfers in the last 10 days, I need these funds in order to pay bills for items that I sell among other things. Out of these 3 transfers I have currently only received the funds for one of them in my bank account, and that was the last one that I initiated. I still have over $6000 in transfers from more than 7 days ago that still have not hit my account. These were initiated OVER 7 DAYS AGO and they show as completed in my Paypal account, but are still not in my bank account.
After all of the problems that I’ve had with Paypal, I have set up merchant accounts to collect Visa, Mastercard, Discover, Amex and Echecks.
I’ve setup my website to accept regular credit card and Echeck payments, next step is to configure everything so that Paypal is out of the loop when it comes to Ebay transactions as well.
No more of this Paypal garbage for me!
Shameless plug here for the merchant account folks that are advertised here, give them a try, very quick to set me up good rates and very helpfull customer support. I’ve called 4 or 5 times already and they answer the phone!
And even better, they know what they’re talking about!
Posted: April 20, 2012 at 5:41 am