Unable to operate due to spurious withholding of funds

Kleiner
Contributor
Contributor

A big thank you to PayPal for effectively closing down my business. I've been a PayPal customer for 16-years, processed approx. £13,000 in sales and paid around £500 commission/fees to PayPal in the last 12-months.  I've also re-paid over £1400 paid to PayPal Working Capital in the last 60-days - well ahead of schedule - but PayPal have now decided to spuriously delay withdrawals from my business account for 72-hours, without good - or valid - reason. This leaves me unable to dispatch goods, make payments - including debits from my bank account back to PayPal - or process refunds to customers by any method other than 'e-cheque' (whatever that is). Additionally, I will now incur further charges for payments that are late or returned as unpaid.

 

I called Customer Services and had them reverse the withdrawals, moved the money to my personal PayPal account and tried to withdraw it from there. Result: Pending for 72-hours. I changed the PayPal address on my eBay account to my PayPal personal account. Made a sale. Result: Funds withheld for 21-days.  I currently have 17 transactions with the status, 'Pending', 'Withheld' or 'On Hold',  between my two accounts, totalling £360.00. Ironically, I could do anything with this money except withdraw it. I can send it to someone else, buy goods on eBay or **bleep** it up the wall on slot machines at one of the gambling sites. I could even withdraw it from a cash machine if I had the PayPal debit/credit card. The only thing I'm not allowed to do with it, is put it where I actually need it. In my bank account.

 

I'm now unable to operate. Goods will arrive late and eBay cases will be opened, leaving me with a negative PayPal balance. Payments wont be made to Working Capital because the negative balance is always deducted first. I can't repay the negative balance because all MY money is either withheld or stuck in pending withdrawals.


Yes, I've tried calling Customer Services. 6-times today, in fact.

Congratulations to PayPal.

 

IT'S. NOT. YOUR. MONEY.

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