so i signed up in paypal and account is fully verfied and i'm from usa. I have been selling digital download products and streaming videos, at a month i had sales of around $3,000 and how stupid i was not to take out the money off paypal. so what i did was kept my money in paypal without withdrawl and i kept the money in paypal for 2-3 months without and my total sales added up to around $10k. So finally i decided to withdawl the full balance when i requested the transfer after a day paypal reversed the payment and put a hold on my account, so paypal emailed me saying i have to send my photo id + address verification. i'm like ok and i sent all the documents, then they restored the account and my 2nd attempt to to take out the money they again reversed the money back. and put my account status to limited. Now they called me asked me what kind of buisness i run, etc etc etc. So i have told them everything, but what they said was my buisness was highly risky to them and they wont release my funds, their terms of services says i have to wait for 180 days before they can release my money, i had a big argument with them but they wont release the money, so that was it, also one of their paypal guy told me they might release a portion of the funds after few months if i dont have any chargebacks, so i emailed them after 2 months and no reply at all they just stoped replying to emails. Now its been like 5 months they are not releasing my funds , i have to wait 1 more month to get my money back from them. in the past 5 months i dont have a single chargeback on my account. So what was their point ? Just kept my money for no reason. This things happend to lotta people i suggest u stay off from paypal if u have big sales, they steal ur money. There's also a site with full of people's phone tap talking to paypal customer services where they deny ur rights, paypal also said they wont ever close ur account, and keeep ur credit card information and Bank information. So basically they are saying u can't terminate ur account with them. Thats just wrong when u open an account u can close it there has to be an end. But they refused that. Here's the site for ur research on why not to use paypal, and check out real people's experience with paypal with phone conversation. http://www.paypalsucks.com I suggest u guys check out google Checkout.
Thanks for the advice. I only use PayPal for tiny transactions just because I don't trust it, but I've never tried Google yet. The name gives me comfort, though. If I like it, I'll try to close my PayPal account (actually my mother's; I was too young when it was created) too, and I'll let everyone know how it goes. Perhaps an account with almost no money in it will be easier to close.
Paypal is fine for small transactions, but for larger ones in which you're actually going to be earning a lot of money, it's always wiser to just use another system--one of those merchant systems not affiliated with any third parties.
a similar thing happened to me.. when paypal sees huge payments they will place a hold, yes it doesnt make sense
yes u may post it. i just hate paypal ..i tired google they are pretty good pays without no question asked, made like $25k transaction no problem at all.
I heard stories like this before, I guess they are protecting themselves because big amount just screams money laundering or something. However, not everyone is out to scam or to do anything illegal, somehow they cannot understand that. I too am just using Paypal for small transactions under $30. Beyond that, I insist on using my other payment processors. I guess I am using Paypal just because people here deal in that.
this is very strange, are you telling the whole story? did you open paypal account with some kind of virtual credit card(VMI card)? could you copy/paste your e-mail correspondence with paypal i had my own problems with paypal but this story doesn`t sound right
ya some people did lawsuit them...but it takes long time ..going to laywer + court i dont have much time, i am a student. yes it is the whole story, u can go http://www.paypalsucks.com/ u will find more about paypal's stupidity. It was a mastercard, and us citibank account. Everything is legit. When u make a big sale in a month u will be notified by paypal of limiting ur account 100% sure.
i had sales over $20,000/per month, that didn`t cause any problem with Paypal if you could provide more information about your own case instead of refering to paypalsucks.com copy/paste e-mail from Paypal?
good to know ur buisness is working out with them, but i guess for most of us it doesn't, i am not gonna post my email addess here. for what i post its true, u can hear people talking to paypal customers about their situations and paypal's resonse on it.
Dont try to withdraw more than $1000 at once...if higher is requested, I think they flag the transaction. I have had no problems with PP yet...
Here is the guy marc.perke he's talking to paypal for his account balance about $300+ and see what happens, this is live talking to a rep from paypal customer services. http://marc.perkel.com/audio/paypal2.mp3
I don't know from your story, they wanted verification, and once they got theat they dug a little further and risked your business as a high risk, which means it was likely a high number of chargebacks would come back against that type of business. That is why they withheld the funds. It is lame, but not suprising considering how they do business.
what kind of digital product do you sell? your web site url? holding funds in reserve for 180 days is very irregular, i have to go over paypal TOS again
I run a digital goods site www.getyourscript.com and recently some fag decided to come and opurchase al my scripts with resale rights at a $30.94 value. I recieved the money but paypal a day later held the payment. about 2 weeks later after I send in al info. the owner of the paypal says his paypal account got hacked into with 8k in it. I sent that to paypal. Never responded back to me. 1 week after that they reversed the fee back to the hacked account and got away with my goods as well. if you ask me, paypal is a bunch of bullsh--.