PayPal WebPayments Pro 90 Day Hold Proves We Made A Poor Decision

[LearnStuff]

After having a sound PayPal account for 5+ years, we upgraded to PayPal Pro to implement a shopping cart on our site.  After our application was approved, they informed us that there would be a 90 day hold on 30% of our funds.  We had no choice this late in the game.  Here are the facts:

PayPal WebPayments Pro facts:

1)  At $30 a month plus fees, it is one of the highest cost gateways in the industry.

2)  The 90 day hold is indefinite.  Your chargeback history, business volumes, nor account status matter.

3)  They will not take a deposit to offset.  We do a few thousand a year and offered to park $10K in an account.  no go

If you are looking to start an online business or take your existing business and extend it online, I can honestly say that the worst decision you could make would be to go with PayPal WebPayments Pro.  We did and are now having to actively scramble to convert to a new gateway.  With another business we use Quantum Gateway and they are incredible.  $10 a month.  Very small fees.  ACH deposit that night.

[iizuu]

Hey there, the same thing just happened to me.  Thanks for the referral to Quantum.  I'll have to check it out as I will be leaving Paypal as well due to the fund hold.

To make sense of the hold, I would have to charge interest of 10%.  If they accept then staying may be worth thinking about.