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I AM ALL IN!! IT IS ABSOLUTE INSANITY TO ME THAT THEY CAN GET A WAY WITH STEALING OUR MONEY...THEY GET THEIR FEES RIGHT OFF THE TOP & THEN STEAL OUR MONEY FOR 180 DAYS SO THEY CAN INVEST & MAKE MONEY FOR THEMSELVES. MEANWHILE OUR KIDS ARE GOING HUNGRY, BILLS UNPAID & HOUSING IN JEAOPARDY BECAUSE THE MONEY WE COUNTED ON WAS STOLEN FROM US. IT AFFECTED ME IN SUCH A WAY THAT WHEN EBAY CAME ALONG TO COLLECT 45.00 ON PAYMENTS THAT PAYPAL HELD (& IS STILL HOLDING) THE ONLY FUNDS I HAD IN MY ACCOUNT WAS 50.00 FOR GROCERIES. I WENT HUNGRY FOR A WEEK!!
SO HOW DO I GET INVOLVED IN THIS SUIT?
PS. WE SHOULD ALL BE ASKING FOR OUR FUNDS RETURNED (& NOT HELD IN THE FUTURE), INTEREST FROM THE DAY THEY RECEIVED & AN ALLOTMENT FOR THE SUFFERING WE HAVE HAD TO ENDURE!!
SO PLEASE LET WHAT I NEED TO DO!
I am from Canada and there is a class action lawsuit running against PayPal from what I can gather.
I run a small business and money is always tight, I am forced to use PayPal when selling items on eBay until 2020 when the agreement ends between the two. https://gizmodo.com/ebay-is-finally-breaking-it-off-with-paypal-which-is-d-1822617604
Let me make it very clear that I have used PayPal for over 10 years and I have transferred thousands of dollars through the service. It is too bad that PayPal, which duty it is to process the payments, nothing more and nothing less, is forcing itself into this position. A bank cannot hold my money when I want to withdraw it and neither can PayPal. I agree that there is a certain amount of time needed to transfer the money to a bank, no issue there. Where I do have the issue is that I pay service fees on each transfer but am not getting any service when I am calling to ask what they mean with this statement:
"At PayPal, our primary concern is making sure that your money is secure. We do this by routinely reviewing some transactions. We’ve placed your withdrawal under review and this will last for up to 72. If it passes our review, we’ll release it and the regular withdrawal timeframe will then take effect. If we can’t release it for any reason, we’ll contact you."
This statement is false as thousands of users of the service can attest to:
1. It is not done routinely reviewing some transactions. From what I can gather it is reviewing all withdrawals over a certain limit, which is NOT disclosed.
2. When asked I am not given an answer why PayPal is reviewing the withdrawal and what the review process is.
3. I have paid fees, upfront, to use the services of PayPal under their rules and policies. In my agreement it does not state why withdrawals are placed under review. Therefore the service agreement between me and PayPal is being violated.
4. When both parties have 100% feedback (as is in my case) and have sold and purchased through the PayPal environment and are verified and have adhered to providing tracking information in the transaction and have provided proof of delivery by placing a signature the transactions needs to be executed swiftly - within 1 business day. It might still take 3-4 business days for the money to show up in the bank account of the person placing the withdrawal, which is common practice.
If money is transferred illegally than PayPal, as the payment processor, has the right to involve the authorities, they are not allowed to play their own policing agency. A case number with the proper authorities will be opened and the authorities will investigate. At such time the person requesting the withdrawal will be notified by the proper authorities.
I do recognize that PayPal is protecting their own interest - here is in overview of the statistics:
This statistic shows the net volume of payments per quarter of PayPal from 2014 to 2018. In the fourth quarter of 2018, the online money transfer provider processed around 2.8 billion payments. As of that period, PayPal had 267 million active user accounts worldwide.
Once the buyer of the product acknowledged the product was received and is to their satisfaction by placing positive feedback the funds need to be released within reasonable time (1 business day is reasonable). At that time the "seller protection" and "buyer protection" agreement is fulfilled.
Returns of product - when a product that is acquired through the PayPal agreement should not fulfill the satisfaction of the buyer they can ask to return the product and at that time the "seller protection" and "buyer protection" agreement is not fulfilled, meaning the funds for withdrawal are not released until the dispute is resolved.
I think that this only makes common sense? It is no longer common sense when PayPal is not disclosing why they are placing a withdrawal under review.
We are speaking to our lawyers right now about a Class Action Lawsuit, much like the Google Bans class action suit.
We know 100's of people that have been scammed in one way or another by PayPal. Looking to find 1000's, as this could be one of the largest class actions yet to date.
We cannot allow this mafia style business keep stealing peoples money.
Fees aside, we are looking for people who have limited or lock accounts that cannot or couldn't get their remaining balance withdrawn.
Look out PayPal we are coming for you and will put your mafia rein to an end.
Just got "terminated" today and unable to give a reason to as why. They cant even quote the specific policy. This is straight discrimination like the wedding cake lawsuit.