Me too. Im currently reporting them to the Financial Services Ombudsman and my Local MP. Im gonna blow this company away.. I have the money, time and brainpower to do it.
I sell online advertising... Thats it.. I had about 1 claim every few months from idiots trying to scam me for free advertising and had a refund rate of less than 1% I even have documented proof my advertising works in a claim someone opened then closed as they werent patient enough for the advertising to work its magic. I have had no reason why my account is limited apart from there are security issues... Huh? i have had my paypal account for over 11 years and transacted over $2million. Theres only one of me and my website is more secure than paypals, if anything Paypal is a security concern for my business. One than i manage correctly.
I finally get popular and start making thousands per month and paypal shut me down but keep my competitors accounts open.
Paypal have an e-commerce monopoly this is undeniable. Why do authorities put a stop to this?
Why has no one stopped to ask how it had $2 billion in spare cash to buy I-zettle? Another move to complete its monopoly.
I have since been accepted by 2 Major debit and credit card processors (worldpay and Streamline) and the Barclays Merchant Bank for worldwide bank transfers. They accept my business plan and see the potential they dont seem to think i have security issues or will cause them security issues.. So who are Paypal answering too with their regulations if my websites and business get approved by banking and merchant processing companies? Paypal are not even regulated by the FSA as far as i know.
They are a law unto themselves, its been 8 months now and i still want my paypal account reinstated, no reply from my formal complaint means they either dont care or dont have a reason to close my account. Yes they can choose to not do business with me for any reason but there have been many cases in the past where that is discriminatory behaviour and punishable by death. (not really, it is discriminatory and can be taken to court)
This is one very simple point:
https://www.lawsociety.org.uk/support-services/help-for-solicitors/practice-advice-service/q-and-as/...
^ Proves they have acted unjustly and unlawfully. (discriminating against me for an undetermined reason, hence them not giving me a reason)
I suggest you get onto your local M.P or council person if not in the uk. Contact the financial Ombudsman (UK) or similar in other countries because paypal is acting unfairly and will continue unless the masses put a stop to it.
