@Neil272760 wrote: Utterly ridiculous!!!! I've been running my business since 2004 with PayPal. I think I've had one chargeback. I recently applied for Virtual Terminal & now PayPal wants to keep 30% of my turnover in Reserve for 60 days as insurance against chargebacks & buyers/sellers protection! What planet are you on? Thats more than my profit margin! "" Snip"" ""Snip"" I am definitely leaving PayPal and will be watching for any reply you make because this is plain theft. The amounts involved do not justify the risk. I am also making a complaint to the FSA & The Department for Business, Innovation and Skills (BIS) Hi, Am with you, this idea that they can keep 30% of what is effective your turnover is crazy and has to breach the law somewhere (at least here in the uk , you can't just withhold peoples money) or anywhere in the western world. Now, let me know if I understand you here. Paypal will hold 30% of your account for insurance ? Is that correct ? If I am correct in understanding this, thats just plain stupid, if they want some insurance it would be better to require the person keep a certain amount available in thier account equal to the transanction for that given month. If you know what I mean. Too cover any possible charge back in that time ( Or in the time that is set out by PayPal in accodance the rules for charge backs.) You should contact those org's, as this is just wrong for them to do this.. Regards,
... View more
