Disgusted with Paypal Limitations

[mvincent1102]

I have had my PayPal business account for over 3 year and have never had 1 issue. Yesterday after taking a payment I got an email that my account was limited and I could no longer withdraw money from my account or use PayPal to make payments. I needed to upload a copy of photo identification. Now I appreciate the steps that PayPal takes to keep our accounts secure as much as anyone, but for them to limit my access to my own money with no warning or notification is the most unprofessional thing I've ever seen from a financial institution. On top of that, I immediately supplied the information that was asked for and was told it would take between 1-2 business days to regain access to my account.

How on earth can you practice business like this?! Thankfully I do not have a dire need for the funds located on my account at this time, but that's not the point. If my bank called me and said, hey we need to confirm your identity, and then in 2 days we'll unlock your access to your account, I'd never do business with them ever again. Security is 1 thing, but there has to be a better way to do this. I've seen cases on here where people have waited over 5 days and their account is still locked.

There is a very good chance I will convert this account to one of the new cash apps. Probably Zelle, since it works directly with my bank and the transfers are instant. But I just wanted to come here and say shame on you PayPal. Security is important but the Customer should always be #1. No acceptations!

[sharpiemarker]

@mvincent1102 

They can't let us access the funds while verifying our account. That just only makes sense for both parties' protection. For all PayPal knows, it's some stranger who has access to your account right now and withdraw some money or making some purchase and then you find out and PayPal ends up holding the bag to refund you. People just think it's "my money" and I can do whatever while they are verify my account. What good does that do, if it's some stranger on the other end. When you are entrusting PayPal with your money, they have to do due diligence and comply with the laws. All fin-techs are supposed to do this now to combat anti-money laundering /anti-terrorist funding/financial crimes and due to US Patriot Act. 

Contact customer service to follow up on the verification, although they can't lift it over the phone due to it being handled by a different dept. Times for restoring of accounts depends on how many cases they got on the queue and the circumstances of your limitation:

Click HELP at the top menu, scroll down to click CONTACT US, and then scroll down to click CALL US.

Call early, during business hours, west coast time to try to get a US rep. Say "Live Agent" to the automated recording.

[mvincent1102]

@sharpiemarker 
Again, I have no issue with the security precaution, and understand how allowing access compromises the security of the account, what I don't understand is how there have been no issue for 3 years+ and randomly this comes up.

Why don't they ask for these security updates regularly or in advance, and then if not performed within a period of time, then limit an account. Give people an opportunity to prevent these interruptions. I'm sure there are much larger businesses who move money though PayPal on a daily basis, I just don't see how they can do stuff like this without any warning.

Your reply would make more sense to me if my account was "flagged" for suspicious activity or something of that nature. I would get that. But it wasn't, it was just a verification request for a photo ID. Which I provided immediately. They have my email, and phone number on my account. This seems like the lazy and easy way for them to do it, not taken into consideration the consequences these actions have on their customers.

If my CC Company/Bank thinks something is suspicious on my account they will call/contact me immediately and we will discuss if there is an issue or not. I just don't get how PayPal thinks this is OK. And I can't understand anyone who would be OK with losing access to their own account for an unpredictable amount of time for no reason with no warning.