I have a fully verified business account with Paypal from the last 3 years. I have had alot of transactions in the past, large and small and never had probelm in receiving or sending money. Now my account has limited access from the last 4 days. I have supplied Paypal with my identification and address details and not heard from them since.
My online businesses are relying on Paypal and im receiving payments for sales made but not able to pay my suppliers due to which Im not able to fulfill orders and my customers are asking for a refund.
Paypal is not a bank and their so called "contracts" are not legally binding and they in fact have no right to hold my money.
Also im abroad and calling the Uk helpline would cost me alot for no reason to get my own money back.
Paypal did the same last year and then reinstatted my account saying it was a security measure and now its happened again.
I need to take legal action against Paypal as they have to right to hold any ones money.
If my account is not reinstated soon I have no other option to take this to small claims court and claim compensation for damage to my business.
