RE; HELP WITH PAYPAL COMPLIANCE DEPARTMENT = LIMITED ACCOUNT

[Stephbejeweled]

On October 1st I received an Email from Paypal that they show I am operating or intend to operate as a Dealer in Precious Metals or Jewels and asked for several documents from me. HELP...  I am NOT a Jewelry Dealrer or Jewelry Retailer. I have a Ebay Store where I sell all types of items. I contacted Fincen.gov and the representatives also verified that I did not fall under the catagory of a Dealer or Retailer of Previous Metals & jewels. Etc. Yes, I do buy used Jewelry, yet the majority of the preowned jewelry I am selling was purchased from other Ebay Jewerly Dealers and I have been advised that makes me exempt and I do not include those purchases under the $50,000 dollar limit per year. 

I have answered all of Paypals questions, sent many documents, Proof of my Business License, Invoices from the Ebay Jewerly Dealers I have purchased from and several emails. I have called many times and each time the telephone represntative states they don't understsand whey my limitations have not been lifted. 

How long does it take for the Compliance Department to at least answer my emails and tell me how long it will take. It's been 7 days. 

I want this resolved. I have sent them everything they asked for and I am NOT a Jewerly Store, Not a Jewerly Dealer / Retailer and I don't fall under that catagory per several Fincen Reprentatives. 

Can anyone help me or give me some advise>>>>???

[sharpiemarker]

Call the Compliance Dept number:

https://consumerist.com/2008/06/06/all-the-secret-paypalebay-email-addresses-and-phone-numbers-you-c...

[Stephbejeweled]

Thank you I will try emailing them again 🙂 

[DPCreations]

PayPal can make rules for its own categories.  PayPal would have a right to consider you a jewely store if you sell jewelry; it seems logical.

Only the compliance department can answer your specific questions.  The compliance department determines it's rules.

[Stephbejeweled]

I sell all items,  preowned clothing, preowned Sports collectibles, and preowned jewerlry. I do not fall under the Fincen.gov catagory of a Jewerly Dealer or Jewelry Retailer since I have not met the threshold of $50,000 dollars of used Jewerly from the General Public. I have not met the Threshold and have no intentions of buying lots of used Jewelry from the General Public for resell. 

It's just fustrating that I have submitted everything they asked for to my knowledge, called and spoke to several diffrent phone representatives who keep saying they will forward my information to the compliance department as I can only get the Fraud / Limitations department andt hey are a separate division of Paypal. 

[Stephbejeweled]

In order to be determined if you are a considered a Jewerlry Dealer / Jewelry Retailer there are guidelines set forth by Fincen.gov.   I have spoke to Fincen and looked at the guidelines and I do not fall under their guidelines and I do not intend to buy over $50,000 dollars in preowned Jewelry from the General Public. I sell all sorts of preowned items. 

[lancelotme]

Paypal has to comply with all those anti terrorism,money laundering laws from both USA and Europe,if you search this board,you will find 2 foreign based precious metal dealers accounts restricted and asked to submit documents.

But if you are not a precious metal dealer,you should have no problem.

[sharpiemarker]

I also have a bit of advice.  Jewelry, metals etc can be high risk.  Try not to lean on PayPal Seller protection too much, try to self insure your orders by setting aside a modest fund for losses.   Know going in that there will be rare occasion of shrinkage aka transactions going bad.  There was one case where this jewelry merchant was going beyond to comply, even notifying PP of suspected fraud and then started getting chargebacks and PayPal decided not to do business with them no mo and close their account with 180 day hold before that merchant can withdrawl their money.  Don't give PP no risk and help them make money, don't do crazy stuff with the account and you won't have no problem.

Ship with tracking of course, and get paid first before you ship stuff out.  And don't fall for buyers who give you a lot of instructions to follow.  (I.e., that they paid and that you have to provide tracking first before the money is released to your account. Or they will send a courier or pay you extra, blah, blah) All they should be doing is pay up, sit back and wait for the delivery and you take care of the rest.

Good luck.

[Stephbejeweled]

I have a room full of pre owned clothing and I mean a ton of it that I just haven't gotten around to listing. My Ebay store is my sole support and the only money I have to pay my bills and have a roof over my head so I get pretty stressed when Paypal tells me that they feel I am a Jewerlry Dealer and need to send them all sorts of documents or they will close my account. YIKESSSSS..  

[lancelotme]

@sharpiemarker

here was one case where this jewelry merchant was going beyond to comply, even notifying PP of suspected fraud and then started getting chargebacks and PayPal decided not to do business with them no mo and close their account with 180 day hold before that merchant can withdrawl their money.  Don't give PP no risk and help them make money, don't do crazy stuff with the

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are you referring to this Australian precious metal dealer who sells on Ebay ,they are professional dealers in Australia with their own ship and website,but they were selling on Ebay and they sell wholesale lots to pensioners who resell them on Ebay?

They kept 80k,yes 80k in their PAYPAL account and haev some chargebacks and disputes,but one day Paypal restricted their account and they have to hire a lawyer to have that 80k released.

Now they can no longer use Paypal and they do not qualify for any of the three gateway processor to accept credit card direct on Ebay(there are only 3 gateway processors who work with Ebay),so they cant sell on Ebay.

It sounds like they were doing well on Ebay to have 80k in PAYPAL,most folks would need that as working capital,call it tax avoidance or whatever,Paypal does not like it,we dont really know the reason behind it.