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Paypal locked up my account and has kept almost $600.00

PAYPAL HORROR STORY. PAYPAL LOCKED UP MY ACCOUNT AND KEPT MY MONEY; EVEN THOUGH I MAILED OUT THE PURCHASES. THEY GAVE MONEY BACK TO PURCHASERS AND DID NOT REQUIRE THE PURCHASERS TO MAIL BACK MY ITEMS. PAYPAL WILL NOT RESPOND TO COMPLAINTS AND WHEN THEY LOCKED UP MY ACCOUNT I COULD NOT APPEAL IT. THEY STILL HAVE MY MONEY, AND THE PURCHASERS HAVE MY ITEMS!! THEY ARE NOTHING BUT THIEVES AND CROOKS!! DON’T USE THEM!! THEY WILL STEAL YOUR MONEY AND BANKRUPT YOUR BUSINESS IN THE PROCESS!! THEY ARE THE VERY WORST BUSINESS PROCESSOR ON THE INTERNET!! THEY NEED TO BE SUED!! WE SHOULD ALL GET TOGETHER AND START A CLASS ACTION IN FEDERAL COURT FOR FRAUD!! PLEASE BEWARE!! YOU WILL LOSE EVERYTHING IF YOU USE PAYPAL!!!!

Posted: April 4, 2014 at 4:42 pm

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One thought on “Paypal locked up my account and has kept almost $600.00
  1. Rich Vernadeau on

    Paypal is in all reality a global bank which straddles every frontier on the planet. Not only are they regulated only by their own business interests, but they impose their own set of rules and regulations to your money and you have absolutely no recourse, no appeal process, no hope in hell, when they decide to take your money away from you, as is happening more and more.
    It’s not enough for the Paypal/Ebay conglomerate to milk users of outlandish fees which when tallied up especially in foreign currency conversion transactions can exceed 10% of the total sale. They have to carry on their business based on a platform whereby they exercise ultimate power over your money, and that is clearly unacceptable. The argument that you can deal with a competitor is the same monopolistic talk we’ve heard from Microsoft for decades. There is no effective competitor as you either deal with Paypal/Ebay or you are stuck with junior league fudge factories.
    That’s why it’s time that Paypal/Ebay be split up, just like Ma Bell was turned into lots of Baby Bells a couple of decades ago. Let them compete in the open marketplace and offer reasonable fees and considerate customer treatment. In April 2008, eBay and Paypal (which in 2002 became a wholly-owned subsidiary of eBay) began to hold buyer payments from sellers in order to implement a 21-hold policy on funds. This hold was also placed for sales where it is clearly stated in the auction listings that (especially for custom and made-to-order items) shipping is within a certain (but not immediate) time frame.
    Not only are sellers, who state their selling parameters clearly within their listings, being penalized for not having “ship same day” items, but Paypal stands to profit from interest on funds that do not belong to them.
    For at-home, small business owners, this unscrupulous practice by both eBay and Paypal (which are one in the same) is an economic hardship. Sellers are expected to ship items to buyers without, essentially, being paid for their items. The buyer has their items long before (up to 21 days) a seller receives payment. During this time, selling and store fees accrue by eBay and expect to be paid even when the seller’s fees are tied up. If tied to a Paypal account, eBay will still initiate a withdrawal, which instead of coming from an available Paypal balance will now come from personal funds (checking account or credit card).
    eBay has initiated “options” to avoid the holds, which, again for custom-work sellers, does not work. For others, it requires the purchase and printing of UPS and USPS labels and postage via the internet and personal printers to prove shipping, which is not only time consuming but expensive and environmentally wasteful.
    Clearly, eBay and Paypal are preying on the small business owner to earn interest on funds that do not belong to them, in order to cover their own losses in an economic downturn.
    Because eBay and Paypal and subsidiaries, they can apparently make up their own rules that are not (and would not) be practiced between any other merchandise and banking venue.

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