PAYPAL IS HOLDING MY $53,832.05 HOSTAGE FOR 180 DAYS
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I am woman owned small business owner and my company has been with PayPal for 18 years. I received an email yesterday stating that PayPal was closing my account and holding MY (not theirs) $53,832.05 for 6 MONTHS. The supervisor said they could not give me ANY explanation or ANY reason for for freezing and canceling my account and online business which has been in excellent standing for 18 years. They said I would have to contact my attorney to access this information. Through research we've made the discovery that PayPal is randomly putting holds on thousands of customer funds and millions of your dollars. As a customer for 18 years my company has paid substantial fees to PayPal and now we are being treated disrespectfully and unfairly. All of this is occuring a week before Christmas when we cannot access funds for employee salaries, Christmas bonues, taxes, office lease, employee insurance and online advertising costs during the most important time of year, the gift giving season. And distributors from around the world cannot purchase product from us for first quarter. My attorneys are addressing this major issue, but I would like comments from anyone else who is experiencing this dehabiliting attack which could potentially destroy my business, family and life.
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Account Limitations
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If you have been told your Paypal account has been permanently limited then Paypal tends to hold any funds for 180 days.... the same time frame that buyers have to open Paypal disputes.
If no disputes are opened in 180 days then normally you are allowed to withdraw the funds. That is as long as you are over 18, the account is in your legal name and registered in the country where you reside.
Sometimes they confiscate funds under this policy.
https://www.paypal.com/us/webapps/mpp/ua/useragreement-full?locale.x=en_US#actions
Paypal also may request further documentation from you before you can withdraw those funds.
May be too late now but contact options for Paypal are accessed by clicking help/contact bottom left of Paypal pages...
1. Paypal phones are slowly re-opening and increasing in numbers (you can use the guest option if you can't log in).
2. Live chat is also randomly available.
3. You can send them a message, during business hours you may also be able to message whilst logged out.
Or
4. Have you considered contacting Customer Service via Facebook or Twitter?
You can send them a personal message from their Facebook or Twitter pages.
It's: https://www.facebook.com/PayPal and @AskPayPal for Twitter.
Advice is voluntary.
Kudos / Solution appreciated.
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Paypal do not limit accounts for no reason, what would be the point?
They would make a lot more money allowing you to carry on using paypal and paying fees for payments than they would by freezing your account for 6 months.
So if you have been told your Paypal account has been permanently limited then Paypal tends to hold any funds for 180 days.... the same time frame that buyers have to open Paypal disputes.
If no disputes are opened in 180 days then normally you are allowed to withdraw the funds. That is as long as you are over 18, the account is in your legal name and registered in the country where you reside.
Sometimes they confiscate funds under this policy.
https://www.paypal.com/us/webapps/mpp/ua/useragreement-full?locale.x=en_US#actions
Paypal also may request further documentation from you before you can withdraw those funds.
May be too late now but contact options for Paypal are accessed by clicking help/contact bottom left of Paypal pages...
1. Paypal phones are slowly re-opening and increasing in numbers (you can use the guest option if you can't log in).
2. Live chat is also randomly available.
3. You can send them a message, during business hours you may also be able to message whilst logged out.
Or
4. Have you considered contacting Customer Service via Facebook or Twitter?
You can send them a personal message from their Facebook or Twitter pages.
It's: https://www.facebook.com/PayPal and @AskPayPal for Twitter.
Advice is voluntary.
Kudos / Solution appreciated.
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To Esteemed Adviser and your comment "What would be the point of holding MY money." What is the point of PayPal being so secretive and not transparent. Don't give me the excuse it's for chargebacks that take 180 days. Don't underestimate my intelligence. A chargeback would be for my product, a pillowcase that sells for a small amount $36.00. PayPal does not need to keep $53, 832.05 of my money for 6 months for a chargeback and never has for 18 years. My company is in excellent standing. The holding of this large amount can easily devastate my life and my online business. Every day my money is held hostage by PayPal is loss of interest in my bank account and loss of sales and I'm holding PayPal accountable. All companies have policies, but not policies that are clearly unfair and borderline criminal. Release my funds from your unethical prison immediately and transfer to my FDIC safe, bank account.
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You have the facts, if you don't like them then feel free to ignore them, bye then.
Advice is voluntary.
Kudos / Solution appreciated.
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