After jumping through all of their hoops to get a business account, they let you have one, then they will lure you in by letting you do business for a while to build up a nice balance in your account, then when you try to take it out to purchase products for your customers, or use the debit card they so freely give you, to purchase products, you wake up one day to a call that says..We have frozen your account! No reason, just the simple fact that someone with a "GOD' like complex over there just decided it might one day be a risk. No disputes, no chargebacks unresolved, nothing!! Just cut you right off. Now you have no money to buy the product that people have paid you for unless in their words"we hope you have other capital" WTH?? Are you serious? I'm over it!!!
We WILL be joining the class action lawsuit, I have already sent an email to our company attorney and the one that's filed the class action lawsuit. BTW, they have already lost a case over this..read the following;
On March 12, 2002, Girard Gibbs filed a class action lawsuit in the Northern District of California against PayPal on behalf of consumers whose funds were erroneously transferred or held by PayPal.
The lawsuit alleged that PayPal engaged in unlawful business practices by freezing customers’ accounts on the basis of “suspicious activity”, without giving them details of the investigation, and by transferring money out of customers’ accounts into other individuals’ accounts without their authorization. The lawsuit contended that, since PayPal did not make a telephone number or email address accessible for customers to contact the company, customers experienced great difficulty in their attempts to contact PayPal and retrieve their money. Although some customers eventually managed to recover their funds, the lawsuit claimed that PayPal refused to pay them interest on the money that was taken.
Plaintiffs alleged that PayPal’s behavior, including its failure to conduct a timely investigation of the reported errors and failure to make a telephone number available to consumers, violated the Electronic Funds Act.
On November 2, 2004, the Court approved a class-wide settlement requiring PayPal to provide injunctive relief and pay $9.25 million towards claims submitted by class members.
