Paypal's holds on verified funds is illegal. Join the class action law suit to make them stop!

[Temp20220226P]

Paypal's policies of with-holding verified funds has absolutely no statutory, logical, or ethical basis as grounds to hold and keep your money from you against your will and without your permission. In fact, so outrageous and corrupt is the practice of  these"forced interest free loans," the practice is literally against the law. Paypal must be forced to play by the rules, and obey the laws like every one else! Even if that means we as the customers it swindles on a regular basis must take matters into our own hands, and do so in the form of a class action lawsuit for all interest and damages Paypal has caused our lives and finances by it's unethical and illegal practice of with-holding access to our verified funds!

     To that end, I am asking the community of those whom have suffered this intolerable acts of corporate greed by Paypal, and suffered Paypal unlawful with-holding of your verified funds for any period of time, and for whatever made-up excuse they gave you, to please contact me at about the possibilities of forming a class of victims willing to bring the class action law suit so clearly required to ensure Paypal plays by the rules like the rest of us do! 

      If you don't believe their policy to be not only harmful to people who need and deserve the funds we earned without being forced to loan it interest free to a billion dollar company first, just ask yourself the following: What do you think would happen to you, if you took some ones money without their permission? You'd expect to go to jail, and face criminal charges for your illegal behavior, right? Well, Paypal, in all of it's corporate ego, has come to believe itself above the laws of this country. The proof of this, is the policy and practice of with-holding verified funds from it's customers, in violation of criminal statutes, banking laws, and all other laws Paypal wrongfully thinks do not apply to it (EVEN THOUGH IT IS A MONEY LENDER OFFERING CREDIT AND CREDIT CARDS, AND DEALS IN AND WITH DEPOSIT ACCOUNTS!)! We have rights as consumers under the banking laws, laws that govern financial companies, as well as the Fair Credit Reporting Act as Paypal never gives a legally recognized reason for wrongfully with-holding and converting for it's own uses your money via the with-holding policies! We do not need to stand for this! Join me in punishing Paypal by hurting it, the way it has hurt us... In the pocket book! Let's sue for our interest, and to get Paypal to stgop stealing our verified funds once and for all!

I look forward to hearing your stories about how you ewere harmed by Paypal unlawfully with-holding funds you earned and needed immediately,! We will show this greedy corporate egomaniac that even a billion dollar company must obey the laws of this country, and may not make gifts unto itself in the form of interest free forced loans from other peoples moneys, and that in this country justice is not determined by the size of your bank account but the merit of your actions and treatment of your fellow citizens!

Respectfully waiting to hear from all of you,

Joel <removed> Juris Doctorate

[Cider_ensemble]

I can't withdraw $150 in funds from my band's music. In my book this is theft.

[kernowlass]

@Cider_ensemble 

@Temp20220226P 

@Jdoggiedog 

@Azazel3584 

@Dylan9446 

You can take out individual law suits but the loophole for the last class action suit was legally closed afterwards and is now legally approved as per their user agreement.

if you are rich enough to challenge it and risk losing lots of cash then go ahead but you won't be able to do a class action suit, read the link.

https://www.theverge.com/2012/10/17/3511792/paypal-class-action-suit-ban

[notseerf]

Hi,paypal are currently holding over $2000.00 paid to me,my friend whose a lawyer in Redding,North(California)told me,after asking him how paypal can do this advised me that paypal are legally bound to pay statutory interest on any funds they(as opposed to the sender)hold.

If you consider that they keep money from hundreds and thousands of there customers each year,many times for up to a month,it is easy to see why they are so keen to ''protect buyers''

''protecting buyers'' is being used to make huge amounts each year that should be paid to the people whose money they are holding.

I contacted one of my buyers and asked him if he requested paypal to hold his money and he told me he wasn't asked and would have said no if he had been

paypal also holds payments because the amounts are outside the sellers ''norm'' but in my case paypal held similar amounts last year and are even holding a payment which is perfectly within any limit as a payment outside the norm to me,its a payment of only $196.64.

It appears that paypal are holding large amounts of money,which they earn interest on and which was not paid to them by stopping payments

Can anyone tell me if there is a procedure for claiming interest on payments made to me from buyers who are not part of paypal.

I am in the fortunistic position of being able to deal with this legally but I understand California residents have access to a free ''small claims'' system

--I wrote the above prior to seeing that a class action is being built,so its unedited to take that into account.I am in a position to help with this as its not only a monetary situation its an action thats basically wrong and if pursued legally will result in paypal having to pay statutory interest everytime they hold cash,they may also find themselves in the unenviable position of having to make ''back payments'' as the minimum punishment they will receive

regards

Andrew <removed>

[SteveValenzuela]

You want to see how messed up they are they closed my account jan 13th 2021 and held it for 6 damn months and was to be released july 6th by this message i was sent by PayPal

Dear Steven <removed>,

Thank you for contacting PayPal with your concern.

In order to protect PayPal from the risk of reversals, we will hold the funds in your account for a period of up to 180 days. You will receive an email around July 5th  advising you that your funds are available for withdrawal. Once you receive this email, you can log into your account and click  Transfer Funds to receive your funds.

If you do not receive the email advising you to withdraw your f...

Thank you for being part of the PayPal community. For additional questions, please visit www.paypal.com and click Help & Contact, near the bottom of any page.

Sincerely,
PayPal Account Review Department
PayPal

Copyright © 1999-2021 PayPal. All rights reserved.

they did not release it 

My account was closed Jan 13 2021 and i have the documentation to prove this and  how can you put limitations on a closed account on April 6th that is impossible. You have held my money for 6 months now and will be holding it past the 6 months and thats not right . You team did not  do this right and I should not have to suffer from there mistake  I have all the emails telling me the account was closed Jan 13th so please correct your mistake and release my money
 

Hello Steven <removed>,

Thank you for contacting PayPal with your concern.

We appreciate your interest in PayPal; however, our decision to leave your account in a permanent limitation status is final.

PayPal reserves the right to limit access to any account reported to be involved in possible fraudulent or high risk behavior. In the event of a dispute, PayPal will seek to recover the funds from you by debiting your PayPal balance and, if there are not sufficient funds in your PayPal balance, PayPal reserves the right to collect your debt to PayPal by any other legal means.

If you want to refund your buyers, you are able to do that any time as long as the status of the transaction is completed.  To issue a refund, go to the activity page, click the payment you want to refund, and click refund this payment.

If you do not hav...

Due to the potential risk of chargebacks and other risks of funds reversals, your balance will be held 180 days from the date of the limitation (6 Apr 2021). At that time, any remaining funds will be available for withdrawal.

they changed the date on me and now are holding my funds of 880.70 for another 4 months how in the hell is that right claiming they put account limitations on a **bleep**ing closed account on april 6th  duh WTF 

[Twallway1978]

They’re still doing it. A month after delivery was confirmed I am still waiting for funds to be held

[Faithofstarz]

Yes, I have been waiting for my unemployment deposit from the government, of $8,400 for over a year now. They said it was because my deposit was not approved ahead of time. Then they asked for my I.D. , proof of bank account, ext. I sent it all in . Then they said they needed permission from where the money was sent, to release funds. When I called the unemployment office, they were confused and said we would not have deposited the money if it wasn’t yours. Then PayPal abruptly closed my account and said they were holding my money for 180 days. It’s been well over a year and no one can even give me any information on what to do or why its still being held. PLEASE HELP. I myself have even thought about hiring an attorney, but I can’t afford it. The deposit was unemployment money that I desperately needed and still need. Shannon <removed>, Akron ,Ohio

[Dmar1014]

Worthless **bleep**

[RNMary123]

Christmas ornaments ordered in 11/19 were delivered 2/20.  PayPal at first stated they were fine in their delivery.  Long before supply chain problems....they at first sided with seller as the merchandise was delivered.  But they were Christmas ornaments with 2019 written on them.  I appealed and « won »...they would only give me 59.99 credit to use.  I purchased a 9.99 item  and learned after two months that the credit was not applied.  PayPal charged me late fees. PLUS reported to credit companies I was late x 2 months.....next month I was putting in a bid to buy a house....and my credit score took a 48 point dive because of paypal!!!!  I was unable to get loan at interest which was favorable.  I had no previous late payments in past 5 years!!!! PayPal said it was thier fault and they would fix it....their « credit » was not with the credit division, I never got the refund.  I ended up loosing that house. I now have a credit score 38 points lower (slowly increasing) and ended my relationship with paypal.  American Express immediately fixes problems and does it faster and better.  

[Temp20220109c]

Paypal is a classless company that has taken advantage of consumers long enough. They false advertise about your ability to 'connect your bank or debit card' for instant access to YOUR funds. What they don't tell you is this process actually complicated and instead of providing customer services reps that can help, the send their customer service centers 'off shore' so they you have deal with foreigners who speak broken english and have a very hard time understanding what your saying. I'm doing whatever it takes to warn people in my professional world (entertainment) of the dangers of trusting your money and business with paypal. Google, Apple and Zelle are companies that are far better to deal with when it come to fin tech. I will also pressure members within the Universal Music Group to stop using vendors who associate with paypal as it will harm our overall business. Paypal rep has been trashy long before we had issues with them but the company hasn't done anything to make things easier for its customers and clients. I'll stand with you guys in an effort to get people to see that Paypal is no place where you want to conduct your financial business either as a client or and especially if you have customers.

[Ladyfarmer1956]

I've had this problem in the past. I've even wrote them and told them I hate to use PayPal.