Payment HOLDS after 2 years of accounting
Can anybody help me understand this please. paypal Admin have not yet provided any justified answer and its basically destroyed my business.
I have a website and for over 2 years i have been receiving into the account 2.5K on average o month.
No limitations. No resolution cases (recently in last 3 month) -
No problems at all. Everything was fine up until the 24th of May .
All of a sudden the payments coming in are now being HELD.
I messaged admin, they gave a very generic response. that from time to time we all face this problem.
And because i have received over £100 this month, they have to Hold the payments as i hit a £100 threashold.
I cant understand this. Iv been receiving over 2.5K a month for the past 2 years. Have a working capital loan and pay that off within 3 months.
They provided NO answers really and no reason for this limitation. I dont understand it, its effected my business as the customers funds where used to purchase their items so they could receive them in a timely manor.
Can somebody please explain WHY paypal would after 2 years apply a £100 a month Threashold.
Its not right, Its not fair, its effected my LIFE and My Business.
Admin provide nothing and do nothing.
I did not have any resolution cases. No refunds. No problems at all, so where has this £100 a month Limitation Come from
Anybody ever had this before. What do i do. My Business is tanking.
Thanks paypal for standing by your customers.
Its a Joke and unjustified, and you are yet to justify it..
Id like to hear how this is being justified.
You don’t want to understand it or not satisfied even if you were told.
Never run your business payment by payment or you won’t make it against these holds that can be put on your account at anytime. Need to have some skin in the game, not use your customer’s money to buy stock, to pay for your expenses. That’s like opening a restaurant, stand outside on the street to generate customers asking them to pay first and then buy the ingredients to cook their order.
Have some capital on hand to pay for stock, shipping to keep business afloat in the meantime. A credit card with a modest credit line will do to tide you over, paying for inventory to fulfill the orders and do the tasks to release funds sooner. Chop, chop.
You’re raking in 2,5k per month on average…where did the profit go? Nothing left to run business with? Sign of bad business model.
Kudos & Solved are greatly appreciated. 🙂
Excuse me but your assuming i don't have capital.
Obviously i have had no choice but to fund my customer purchases outside of paypal using my own capital.
However i shouldn't have to do so..
This Topic isn't about the ASSET, this Topic is about the LIABILITY.
The Liability being Paypal because i trusted them enough to use them as a Payment Gateway.
Trust that is obviously Not appreciated or Deserved.
Furthermore your reply offered no insight into the subject matter.
i asked WHY did paypal do this...
Does anybody actually have anything to say that will justify their actions, Because their Admin don't.
for 2 years straight - including a few resolution cases here and there - 2.5K into my account every month. No limitations. But on the 24th of May a limitation was imposed - £100 a month then HOLDS on all funds going in.
There is No reason for their limitation and they have provided no Justifiable reasoning either.
Its a complete Breach of trust , Professionalism , ethics, morals and Human understanding.
Had paypal had a valid reason they would of broke their neck to detail it..
yet they haven't, Simply because they cant.
Im still waiting for a sensible explanation other than the generic copy & paste cop out.
The have however released the funds that came in recently..
But still the limitation is still standing. for what reason. NOBODY KNOWS.
The only obvious conclusion is that it is a complete ABUSE of administration.
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