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They do this on Purpose, that money you are owed, and the money owed by millions is held by paypal in a bank account that get interest. , Free Money
Yesterday - 11th December 2018, I had an issue with withdrawing funds to my back account. The issue was not due to funds on hold this time, it was a pending transaction for withdrawal of funds to my bank account. I have never had this problem until recent times and it has happened to me on two separate occasions and my partner on one recent occasion for relatively small amounts. On the face of it, it seems that Paypal will use random and unorthodox methods to hold on to legitimate gained and funds. Is this purely a interest gaining exercise which would be a totally illegal practise or is it that their systems cannot cope?.
Yesterday 11th Dec 2018 I contacted Paypal to ask why funds were being delayed on two separate occasions? The advisor told me that the issue was with my bank. I stated that this was a recent thing and I had no problems before, therefore I wanted to understand if there was action I could take to prevent the issue re-occurring.The Paypal representative repeated that the issue was with my bank. I ended the conversation that the service being delivered through PayPal and my bank was no longer economical and seriously needed to review if I should carrying on with their service.
late last night 11th December 2018, I received an email from Paypal stating that they had released my funds to the bank.
My BIG QUESTION is, why did the Paypal advisor say it was a problem with my bank when the funds hadn’t even been released from Paypal?
This leads me to again question, ARE PAYPAL PLAYING DIRTY MONEY HOLDING TACTICS TO GAIN FURTHER PROFITS ? or DOES PAYPAL HAVE SERIOUS SYSTEM ISSUES PREVENTING THEM FROM OPERATING IN A REASONABLE MANNER?.
THE TRUTH IS, LIKE YESTERDAY, PAYPAL ARE NOT GIVING US THE WHOLE TRUTH.
Therefore, is Paypal still the right platform for us to use? For those EBay sellers, cash on collection seems to be the immediate solution and bypass Paypal.
For giving friends and family funds, then simple bank transfers or Apple Pay is an immediate solution.
Apologies if seems a long winded rant, but I for one am getting my patience tested by Paypal.
So I got one for you. I've been a paypal business customer for about 4 years now. I was a pro customer for a while paying them $40 a month plus transactions for payment processing on my site. Ok I run 3 different websites and there for run 3 businesses . Registered with the Feds my home state plus 27 other states due to the new stream line tax. I am far from a crook and am all about customer service. So long story short my ebay account got suspended about 3 weeks or for weeks before this story i'm about to tell. So when that happened I stopped using paypal business free payments but I still had the pro site. So they where processing payments for me still. Well I found a cheaper payment processor and broke it off will pro on good terms I didn't owe them and they didn't owe me. My ebay suspension is up at this point so I unload a bunch of great deals on ebay. Aboutn 100 listings. Don't think nothing about it and let it ride. I wake up 2 days later with over $4200 in sales ,my paypal account restricted and my ebay account restricted. That was 50 orders that I promised free 2 day shipping on in US that I couldn't get the money for. So I called paypal and they tell me that it's because I haven't sold in a while. I explained 3 weeks is not a while and I was still selling and you where processing on all three sites. So she looks it up and said yes i'm sorry you have but I still can't lift the limit you will have to send paperwork and id in and then we will review in 3-5 business days after. I told her it's christmas you have got to be **bleep** me and asked for supervisor he told me the same thing. So I send the receipts over and explain i can't put the money out for all these items to ship express can I use the paypal shipment center and take it from my balance. They told me no. I fulfilled all but maybe 10 I had to return. Now this is 8 days ago I sent all paperwork in and all of my business licenses. And all of the orders have been delivered. Well I call paypal today and they say I gotta keep waiting the funds don't get released next day after delivery on a restricted account that she can't do it but will submitted the paperwork to the people who can. Give it a few hours and they will respond. They did in 3 hours by email. Told me appeal was denied and they are going to close my account any money I have left they will hold for 180 days then contact me to refund it. They have over $4k now well I can't respond to email and they where closed but I'm gonna call them here real soon. And if not I will be taking them to court asap. Sorry so long I get long winded when I'm **bleep**
Hello all, I’d like to reach out to everyone who is tired of PayPal’s sick policy and sketchy business. Here what lead me to this: I was paid by 2 friends money as friends and family. When I went to withdraw the first payment to my bank they said there was a 72 hour delay plus the 1 day to withdraw if they didn’t find a issue. The second one I withdrew to my debit card and they also placed a 3 day delay. I have already talked to an attorney and it appears it isn’t the first time PayPal is sued for placing unjustified holds on funds. It appears PayPal is only holding funds to gain interest from the money. Also: it states in PayPal’s policy’s that holds are randomly placed to a very small percentage, yet both of mine in different days were placed on hold. Fun fact: PayPal has already been sued in 2015-16 for these same unjustified practices.
I'm have $4,000 being withheld by PayPal and no one in customer service can help me.
Here's what's going on with me: https://www.paypal-community.com/t5/Payments/PayPal-is-Holding-My-Money/td-p/1689124
I'd encourage everyone here having issues to file a complaint to the Federal Reserve and to the Federal Trade Commission. Links below:
Federal Reserve complaints: https://forms.federalreserveconsumerhelp.gov/secure/complaint/formComplaint
Federal Trade Commission complaints: https://www.ftccomplaintassistant.gov/#crnt&panel1-1
This money was withdrawn from my mother's bank account on Tuesday and they still haven't returned my money. They can't even agree if my money will be back in my bank account or in my PayPal balance.
I just spent about 3 hours total on 4 separate calls and 3 chats to PayPal Support. They took my money, took my bank account off my account, and then had the gall to charge me for each charge as a 'placeholder' for payment instead of charging to the damn bank account like they were supposed to. Then, as I was following along with directions, they directed me to hit a button which cancelled my 2-month-old PayPal Business Debit account. I just spent another hour on the phone with card Customer Service in India and outside of the U.S. that were snarky, rude, and laughing at issues. They even transferred me when they didn't want to talk to me. I've had a PayPal Business account for over 10 years. I had a basic account for years before that. I feel like this company just doesn't care anymore about us customers. I'm very sick of it and would like to join in on this suit. I have about 50 customers and corporate clients who are also interested.