The Paypal scam

I have seen countless accounts of them limiting accounts for no reason. Just google it, i dont want to type it all. It is VERY true and they can hold your money for 180 days whenever they want to for any reason. Its not in their ToS they earn interest on it.

 

I am using paypal for over 4 years and everything goes well till now.

 

You had a problem?

 

I have two big issues with PayPal that prevent me from trusting them.
1) They are not FDIC Insured and are not regulated the same way banks are (thus freezing accounts is legal for them to do).
2) Their chargeback protection does not cover intangible items, such as domain names, hosting, etc.

I have not had an account frozen yet, but I did sell a domain on here for $10 and the buyer later filed a request with his credit card company saying his card had been stolen. PayPal hit me with a $20 fee and took back the $10 profit. That leaves me with $30 in missing funds and without a $10 domain name. I fought with PayPal support and at the end of the day they told me that they simply don't protect their on-line merchants against such things. Ironic considering PayPal itself is an on-line service.

I wouldn't classify PayPal as a scam, but they certainly could do a lot more to protect the sellers using their system.

 

Paypal credited $2 in my account after I complained that their call centre kept me on hold for too long when I was calling on an unrelated matter. lol.

 

Im surprised. Everywhere Ive ever gone ive seen limited accounts.

 

Well the only problems that I have had with paypal is, they limited me
about 8 times each time they had no reason to do it, I call them they
just say its there final decision, and I will be able to withraw my money
in 180 days.

 

EXACTLY! We could do nothing wrong. One time I was selling things on ebay, had 20+ feedback and it was 100%. They froze my paypal account saying it was suspicuous activity. It was thousands of dollars and I had 100% feedback, I couldnt get my money for 180 days.

 

well, actually I opened a dispute with my VPS provider after the machine went offline for several days. 2 days later they refunded me with 100% of the fee (paid something like 1 month earlier)
it is a *SERVICE* not intangible goods. intangible goods is links, virtual money or stuff from games (WoW), etc.

 

I've never had problems with paypal

 

I believe this depends how you used your PayPal account. If it against their TOS then they will really suspend it. From which I know PayPal is not allowed on porn sites, scams, and other illegal acts of business online.

 

I believe the reason that you have suspicious activity it maybe because you did open your PayPal account to other country than your registered country. For example, if you did open to a proxy located in France whereas your registered country is United States. This rule is strictly observed by PayPal to prevent fraudulent and suspicious activity.

 

Same here, everything is ok.
Verified my account, and been using for 3+ years. When I had a problem with a scammer - the dispute was professional, and everything was handled in the best way.

 

That is how PayPal works with a scammer. They check on both sides and tries to re-evaluate everything. So just make sure you are legit.

 

Im not the longer member at PayPal, but until now, have had absolutely no problems with them...

 

I have found over the years that those that call paypal a scam?
Tried to cheat the paypal system.
Or tried to cheat either buyers or sellers.
And got caught and kicked off paypal.
Especially those in certain countries who think they can use paypal at will and scam people.

 

One thing I don't like it paypal exchange rate. It's bad.

 

There will always be occasional chargebacks

 

I have been using paypal for 3 years now and it has not given me a bit of tension escept last year when they stopped electronic transfers but they fixed that in few days.

 

Once paypal freezed my account without any notices. I phoned to them and luckily got my account back. I've used paypal for 3 years now without any problems.