Yes, get this: I sold a Harley Davidson, the buyer picked up the bike and paid the bill in front of me online using paypal. I saw the transaction complete and gave the man the keys to his new bike. Later, I received a message from paypal asking me for my business registration number and proof of inventory purchase and was informed that I have a rolling reserve placed on my account. I wrote a love poem to paypal asking what retard they had assigned to review my account. It clearly states when I log in that I have a "Premier, verified account" not a business account. I then produced the receipt for the motorcycle bought 11 years ago and the registration. They still insisted on applying the rolling reserved as suddenly I had a "spike in increase of transactions by number or value." This was the 4th bike I had sold via e-bay and taken payments for all via paypal. All feedback is positive. The customer service folks that contacted me (three separate people) insisted that this was somehow protecting ME and the buyer. Let's take a view of this transaction as if we have an IQ of just 31: 1) e-bay auction concludes with a seller having an excellent history with both e-bay and paypal and previously sold 3 nearly identical items 2) buyer sends deposit using paypal 3) buyer and seller meet, exchange goods for money and bike is gone to new home 4) seller is left with a percent of the funds How in the **bleep** does this PROTECT ME OR THE BUYER? I am disadvanted as a seller throughout this ludicrous charade of buyer protection. What's more, the buyer paid via VISA, which states that they take the risk of the transaction from the moment they authorize the payment from the buyer to the seller. paypal even contacted the buyer to verify that the buyer has indeed received goods as described. WHERE IS THE paypal RISK IN ANY OF THIS TRANSACTION? I can't deliver 80% of a motorcycle and tell the buyer, "sorry, there is a new rolling reserve put on my account. You'll get the keys, transmission and ignition module in x months when the total funds clear." Now, paypal has my money, likely deposited in an overnight moneymarket account earning interest, and they are able to profit from my profit while I am left short changed and denied the time value of that same money. HOW ON EARTH CAN THIS BE LEGAL? It seems clear to me that paypal no longer wants to be in the online payment arena. What is their next trick?
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