Paypal account limited and under review
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I have a paypal account for over 10 years. Never any problems.. sold on ebay for 10 years never any problem. This year I superseeded by seelling and have sold more than ever. Now, I get this message:
We recently reviewed your account, and we need more information about your business to allow us to provide uninterrupted service. We would like to return your account to regular standing as soon as possible. We apologize for the inconvenience.
Dec 8, 2011: We noticed some changes in your business and would like more information from you.
Has anyone ever gotten this. They are asking for suppliers information that I order my products from. What does this mean? Anyone help as I am very concerned now. Thank you
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No but I got an email asking me for my personal information to verify my account. What is that all about? I haven't paid with Papal in a while but I knew my passwords and security isn't that enough?
I will ask my friend who is on here more often if they have sent her one. She sells online all the time.
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When I was selling on Ebay with Paypal I had this problem. When you are actually successful with your business, they start asking for proof of invoices and supplier information and such and such. Then, and I PROMISE YOU, shortly after you provide them with ALL THE INFORMATION they ask for, they are going to start holding a big portion of your funds in something called a "Reserve". You'll get hit with two types of Reserves. The first Reserve is called a "Risk Reserve" where they will hold A LARGE AMOUNT of funds in your paypal account. In my case, they held $10,000. The second type of Reserve is called the "Rolling Reserve". This is where the true thievery comes in. They in addition to already holding your money, they will hold a certain percentage of sales for an indefinite amount of time. Some people have had their sales held fo 30 days, some 60 days, or as in my case, it was 10% of all my sales held for 120 days. This means for example, you sell something for $1000. In addition to having to pay your Ebay fees, AND PAYPAL FEES, 10% of the $1000 will be held for 120 days, so that means $100 would be held for 4 months. But this occurs to ALL OF your future transactions.
I advise you right now. Give them their information, get all of your money out right now and close your account. you'll regret it soon if you don't.

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