Removing the Rolling Reserve

[CaptHowdy13]

I have a very simple problem: I want the rolling reserve on my account removed. I have waded through many posts of people not knowing why they had a reserve, etc. Well, I know why. I tried out the Virtual Terminal, and was sent an email saying I would have a rolling reserve put on my account. Fair enough. I closed down the Virtual Terminal function, and guess what...still have the Rolling Reserve in place to the tune of almost $900.

My "Account Manager" who was so eager to communicate with me when signing me up for VT, now won't answer my emails and actually isn't even getting voicemails anymore. Lots of turnover at PayPal perhaps?

So, I am asking the folks here...how do I have the rolling reserve removed? And please don't give me that stock (and trite) "That's how they do business..." line. I've had a PayPal account for years and only when I signed up for VT did I get hit with the reserve.

If it means closing my account to get my money, I'm willing to do that in a heartbeat, and you guys can have PayPal and their fees. I'll probably get fees for this post.

[drjc5]

I'm in the same position. Except they have nearly £1000 of mine and they've had that or more for over a year. It's really unbelieveable that they can get away with this. I want my money back and I've got no idea how to do it. Can ANYBODY help?

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@CaptHowdy13 wrote:

I have a very simple problem: I want the rolling reserve on my account removed. I have waded through many posts of people not knowing why they had a reserve, etc. Well, I know why. I tried out the Virtual Terminal, and was sent an email saying I would have a rolling reserve put on my account. Fair enough. I closed down the Virtual Terminal function, and guess what...still have the Rolling Reserve in place to the tune of almost $900.

My "Account Manager" who was so eager to communicate with me when signing me up for VT, now won't answer my emails and actually isn't even getting voicemails anymore. Lots of turnover at PayPal perhaps?

So, I am asking the folks here...how do I have the rolling reserve removed? And please don't give me that stock (and trite) "That's how they do business..." line. I've had a PayPal account for years and only when I signed up for VT did I get hit with the reserve.

If it means closing my account to get my money, I'm willing to do that in a heartbeat, and you guys can have PayPal and their fees. I'll probably get fees for this post.

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[cokes4u]

 I have the same problem.  Paypal holds 20% of my Ebay selling price in rolling reserve for at least 60 days...What a racket. I have never had a chargeback in the years I have had my account with Papal.  And fees of over 3%.  Guess we should all buy stock in Paypal...they are worse than the banks.  Since I have a merchant account with my business and bank, I will NO longer accept Paypal as a choice for payment.......Think of the interest Paypal is making on all of us sellers...ouch!!!

[cadnetllc]

I have been doing business now for 16 months through Paypal putting up with the Rolling Reserve of 30% released in 90 days. After the year ended my balance reached over $10,000  That's 10K I could be investing right now.  I think I need to look into some other processing options. If paypal wants to keep my business then hopefully someone will respond to me?

Glen

[drjc5]

THAT'S EXACTLY HOW I FEEL!  THEY HAVE BEEN TOTALLY UNHELPFUL.

JANET

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@cadnetllc wrote:

I have been doing business now for 16 months through Paypal putting up with the Rolling Reserve of 30% released in 90 days. After the year ended my balance reached over $10,000  That's 10K I could be investing right now.  I think I need to look into some other processing options. If paypal wants to keep my business then hopefully someone will respond to me?

Glen

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[tech2002]

This is the same issue I have I hate rolling reserve does nothing to help me at all I am frustated with attitude that PayPal has regards the rolling reserve I have small business that my budget is very small and the best this PayPal puts every transaction 30% off to rolling reserve so even if people send me money they owe me they take that 30% off, it is ridiculous I didn't heard any merchants that have such thing . I wish Paypal stand up and remove the rolling reserve.

[SAKJewelry]

Ok so this is what i just did as i had the same exact problem as you and could not find the answer.

First off you do not have to downgrade your account like other people keep saying.

you just contact customer service. they are able to tell the date you canceled your VT billing agreement if there are any "reserve" amounts after the day you closed VT they will automaticly release those amounts. when that is done they will turn off the rolling reserves for you.

I just did mine today.

hope this helps.

[drjc5]

thanks,

what does 'VT' stand for?

when you do thi, do you keep your paypal account or lose it?

thnks

janet

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@SAKJewelry wrote:

Ok so this is what i just did as i had the same exact problem as you and could not find the answer.

First off you do not have to downgrade your account like other people keep saying.

you just contact customer service. they are able to tell the date you canceled your VT billing agreement if there are any "reserve" amounts after the day you closed VT they will automaticly release those amounts. when that is done they will turn off the rolling reserves for you.

I just did mine today.

hope this helps.

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[SAKJewelry]

VT means Virtual terminal

no my paypal account is still open it does not close