Has this happened to anyone else? They take 10% of all funds I collect daily. Those funds are held in a "reserve" account for 90 days. I've called twice trying to get an explanation and see how I can get this removed. The people give me the run around and seem like sharks to me. Aren't they just making interest off my money and withholding it for no reason? I've never had a charge back or any other problem with my account in the couple of years I've had it.
not happened to me yet but what are they thinking when they take away 10% of the funds daily !! this is ridiculous.
It's not taking the funds away, it's holding the money to cover any charge backs or refunds. Many payment processors do this with merchant accounts, but I wasn't aware that PayPal did that. sithburns, what did PayPal actually tell you? Have you been pulling all the money out of your account as soon as you receive it? If you have PayPal may be concerned that you won't have the funds to cover any chargebacks or refund requests.
That's very not cool. Are you using standard paypal or Paypal Payment Pro? Either way it seems ridiculous. A lot of businesses run on 10% margin and there would be little to nothing left if they held 10% in reserve. You'd like...have to be able to float the whole company for 90 days and stuff. Crazy.
It sounds really weird. I bet that they suspect you on some illegal actions. Trying to contact them via email or phone could help. And if they are not helping you just tell them that you won't take any loose excuses
I started a thread asking if it was normal or legal to get your money taken away for months without any reason or warning. I see we are not the only ones. Whats wrong with paypal people? A lot of people hate eBay but in reality is paypal the cause of most issues. We are honest sellers, 100% perfect feedback in last 10 years, thousands of transactions, 99% of disputes won, 2 lifetime chargebacks which we won because they were customer fraud, thousands of verified paypal transactions and all this seems to be irrelevant to some small fries at paypal, the real bad seeds of any business. I really need advice and help from this great community, I can totally see paypal spreading the abuse to many of us here, if somebody does wrong I really thing their accounts have to be shut down, in no way their money to be taken away without any reason. I have to mention that the reason they gave us was that we have increasing our transactions very fast ( since we transfer our google and authorize.net transactions last month ) and they have consider that a high risk issue withou even any foundation of what the unprofessional paypal "associate" say, we were told to submit a whole buch of paperwork to see if they would reconsider but warn will be almost impossible. Luckly we do have all paperwork but God knows if they will actually find it acceptable. Like I said, it happened to a few of us know, it can happen to more of us here, we really need some advice, some similar experince members sharing any kind of solution. eBay should also defend its sellers against no brain associates who really can damage ebay business, as if they need more problems. Please help!