What's your craziest Paypal story. I remember my Paypal story quite vividly. I had made money on Paypal and I had to verify it. I got a bank account and everything and then it got locked down. I couldn't withdraw it all but I sure could keep putting money into Paypal. Utterly useless.
While I've never had problems with it, once they were bought by eBay I began to hear horror stories - like, BIG sellers making hundreds of thousands a year getting their accounts completely locked down and losing it all. My mum once had her Paypal debit card locked randomly by the company when she tried to buy groceries. Also, she's had buyers complain to Paypal, get a complete refund (before they even notify her), and then not have to return the item... and she's incredibly picky about descriptions - she over-describes and undervalues most of what she sells and the leeches still shaft her out of stuff. The big issue I have is the monopolistic practices that got pushed out when eBay took over - eBay basically requires you to use Paypal when you sell on eBay, and then double-dips on the money you make. It should be illegal on monopoly/anti-competition laws... seems like it should, anyway.
The same here!Why does paypal keep taking money out of my account for no reason?!!!! they keep making me overdrawn and im having to pay fees to my bank because of it! Paypal have a lot to answer for!
To put it simply, Send cash to another party process (Foreign currency) - Flawed concept Cash to be remitted over needs to be converted - PP earned from conversion rate (1st way) Cash remitted over said to be free but Other Party needs to compensate fully - PP earned from transferred fees (2nd way) Cash to be taxed for using PP services - PP earned from service charges (3rd way) Total 3 ways to leech from clients, not wrong nor illegal but deemed injustice and overboard! My Hassle, Commoner
I am Malaysian and I registered my paypal account in Singapore when I was working there. When I moved back to Malaysia and I want to change my Bank for withdrawal purpose and I was not allowed to change to Malaysia' s banks. No choice, I registered another paypal account in Malaysia and used it for receiving payment.
Same thing happened to a buddy of mine, while temporarily working in the USA. Once he returned PayPal refused to acknowledge his request to change banks and kept his money there. Utter bullcrap. I was afraid to admit it for a long time but now I proudly confess that I never used PayPal - never had, hopefully never will
'Rewind' 5 years ago. Am closing an account at my bank, an account with a debt card connected with PayPal. I get back home and initiate a withdrawal (stupid me), since the card was the primary and I was too much of an idiot to actually remember I cancelled the card 6 hours ago and it's no longer 'valid'. The banks take 2-3 days at least here to really close down an account, so the withdrawal worked flawlessly. I immediately contacted my bank to see if my money was somewhere 'in the limbo' or still in the account, which wasn't officially closed from their side. They claimed no transaction was made. Contacted PayPal which took 3 weeks to reply to my complain, they sent the money, so it was something I had to discuss with my bank. Long story short: I lost 400 bucks. And started being way more careful when doing ANYTHING money related online or offline
It is easy to sing that tune when you are on this side of the fence, but if you were on the other side of the rich and powerful, then it would be all about the money...and you would be going to bed each night just like they do thinking of more ways you can double dip.... in other words, you would not have the morals you appear to be showing now...
We used paypal for years but got tired of the $30.00 a month fee, so we moved to Stripe and all is well.
@QuickLance Designs Yes you may encounter problems with paypal , but just don't stop with it. In-order to solve issues quickly , contact their support via twitter , they are pretty faster & the issues will be resolved quickly than traditional email / phone support. I have resolved few issues like that in the past with Twitter Paypal support , you can find them here at https://twitter.com/AskPayPal Hope this helps
I had quite a nightmare with Paypal in the past. When I first started out in the hosting industry I had bought out another hosting business which instantly put my monthly turn over to $xx,xxx.xx which looked suspicious to Paypal. I had a limitation put onto my account while details were verified - I supplied them with my ID, proof of address, uk company registration documents and shareholder details, all the billing system information / invoices for the payments in question plus proof of me purchasing servers from my vendor. Apparently, this wasn't enough and they shut down my Paypal account freezing the £10,000 I still had in there. This carried on for months while I was making daily phonecalls trying to talk to someone who wasn't instructed to stick to the same old script. Unfortunately, other than being able to withdraw the occasional £500 the phone calls were of no help - they insisted that nothing could be done. So, I decided to write a letter to their headquarters in Luxembourg. I told them of my situation, told them the effect their company was having on my company by taking 10k out of my cashflow and how actions like this are destroying an already struggling economy - Low and behold, 3 weeks later my account got put into 'review' with a 5 day grace period of where I was allowed to withdraw all my money. In total, my money was held for 6 months. After the review, Paypal decided they would put a limitation on my account where 15% of every payment received will be put on hold for a period of 60 days. This limitation was on my account for 3 years and has only recently been removed. You hear a lot of nightmare stories about Paypal, and anyone should really give it a lot of thought before relying on Paypal for receiving payments.
Reading your story ArcServers makes me think - witch online money transaction provider should we use? I'm using Paypal for a while now, no problems found out yet except the pending balance. I have steady incomes every month and I am verified but money still goes to pending balanace and thus I have to wait for a 'short' period of time before withdrawing. Can't fight it so I'm used to it.
Hi Luka, That 'pending' balance is a limitation, that's what I am referring to when I say about the 15% being held in my previous post except mine was pending for 60 days. How long have you had pending balances? You can have it reviewed annually, so if it has been a year or so you can call Paypal and have them review for you. It's tough to say which online payment processor should be used because, despite it's pitfalls Paypal is the most popular and widely trusted by buyers. When my Paypal was completely restricted I used Moneybookers (skrill), Alertpay and Google Checkout (card payments, shame it isn't what it used to be as was the best service by far). For a business that was using Paypal for 90% of payments I was surprised at how well I had managed without it.