I'm on a 180 day hold from selling some equipment to help pay medical bills.. Mostly because I didn't use the equipment and selling it softens the amount of money going out for my MS. In all transparency I do have another business that sells items restricted by law and we are licensed to do so. Those items are not permitted by PAYPAL, but I didn't realize all of them were. Only thought some fell into the category. That said, I was told I can't sell the items and I made sure to remove the paypal from our site to adhere the warning. But then the equipment selling transaction of over 3K came thru and Paypal locked me out. Now keep in mind, I've never had a claim or anything from a customer. And most transactions were less that $100. But Paypal says then need to keep money in case of a claim or dispute. So here is my thoughts.... I see this is happening to many others, and I've already contacted some state officials as we do govt work and have contracts to do so. I reached out to some reps for the state and I expressed my thoughts about how PayPal seems to be capitalizing on a little grey area that allows them to hold funds. Not pay interest as they are earning it and there is no real process to get the money other than wait. The talk was how the big tech companies are pushing the limits and it's getting to be time for congress to step in and investigate best practices. Paypal isn't the only one, but my rep said he was going to have some staff look into it. In the mean time, I'm thinking it might be time for another class action to see if we can't bring some light and attention to how one sided the 180 paypal lockdown is handled.. Anyone interested, please let me know and hopefully paypal doesn't suppress the first amendment here... We shall see..
