Hi, Paypal Has Claimed Another Victim Today. I Lost Around $500 In My Account. The Reason What They Sent Me Is Paypal You Are Just A Payment processor Not An Investigation Company. I Have A Business Account. Whenever Some Sending Me Payments You Are Getting Your Share. You Are Not Providing Any Service For Free. Really Need To Think About Paypal Next Time Before Using. Horrible Stories About Paypal..
Ya you really should "Think About Paypal Next Time Before Using" because you obviously have no idea how a payment processor works
This is very worrying. Doesn't Paypal give any opportunity for you to explain your transactions? Do they have a right to do this?
They have every right to hold an account if they feel that it poses a risk. Being a 3rd party processor, they are 100% liable for the funds you and every other business that uses them processes. If you were to accept a bunch of fraudulent transactions and then run off, Paypal would be stuck with the bill no matter how large. Since it is extremely easy to get a Paypal account, they are much more likely to hold money than through a merchant account, where you are actually qualified as a legitimate business. Until paypal actually requires and verifies a business to be legitimate, they will continue freezing people's accounts, even if they are doing it to completely good business. I've personally had $40,000 held and I've had an account permanently banned without any chargebacks or other reason. Paypal is really quick to put a hold on accounts, but again, they've made their system so easy to setup, and the potential for loss is so high they have no choice. My suggestion is get a real merchant account. There's a reason that it's not difficult to compete against Paypal. Also, you'll get your money back after 180 days. This is the Visa / Mastercard length of time, a business is liable for a fraudulent transaction.
Did they limit your account? If yes then u may be asked to send them some documents,so just send them and follow up with call and your account will be restored soon.
Just curious on how you lost your money? Did Pay Pal confiscated it or did they limit your account pending further information? For your rant against Pay Pal, do note that when you sign up, you agree to their Terms and Conditions. Pay Pal has to be strict so as to prevent themselves being used for money laundering and other activities. They do not want to be banned by other countries.
From what I understand from the above posts; If all they did is 'limit' your account, then you shouldn't worry much. Simply upload some [scanned] documents in the PayPal resolution center (using which they can verify that you actually are what you claim to me). For example : Bank statements, driving license, Utility bills, etc. I faced a similar situation once; but within 4 hours of uploading my documents the limit/hold was released. Good Luck.
I was terrified reading the OP's post...since I have just recently started transacting through paypal, but the reasoning and suggestions provided here by other members have calmed my nerves.... I am pretty re-assured now that if your activities are clean....the money is not completely confiscated by them...instead it is put on hold for 180 days.... Thanks all..... Regards, RightMan
Do n't worry. I have never experienced things like this with Paypal @Op if they had limited your account.. tell us the reason what you did and also email them if they have any questions regarding your account or better call them (I heard that Paypal support is one of the worst)
I've had a PayPal account for years and never had this problem (knock on wood). But with the way things are going these days, I'm really thinking about using MoneyBookers.com. I've signed up with them a year ago or so, just never really used them. I think it's time for a change.
Damm, this really scary, you never know the next morning you wake and and login to your paypal account and you get find " limited account with $1000". thats the reason one should never keep cash in paypal.
I too have the same experience but the problem was resolved in just a couple of days after I submitted a proof of address and a national ID.
This is the second Paypal horror story I've read on this forum this week! I wonder if they are initiating a security crackdown?
Today I Uploaded My Address Verification Document, My Bank Account Statement And Called Their Customer Service Number But They Still Need "Invoices For The Last 5 Transactions Which I Dont Have". I Said Since It's a digital Product so i cant provide the invoices. And The Agent Said Might Consider Your Request Be sure to check your inbox. Let's See What Happens Now?