PAYPAL - Judge, Jury and Executioner (the conclusion)

I have to agree with the naysayers from your point of view OP. I had an account with Paypal for 5 years in which time I even once became a Power Seller which means I had a lot of money going through the account. In that time I had no problems with Paypal. They occasionally sent me emails requesting certain information which I supplied as “what the hell difference does it make PTB know all anyway”, and those emails related as in your case to money laundering. It even shows up on your credit check. But at the end of the day you bend over and play the game. Its much easier that way. But you choose to go against the grain and in your case got royally shafted. Oh well. Lol.

I love my Paypal account and eBay, I look after everything I buy and I always buy quality, eBay and Paypal ensure I can get some money back on those items when I have finished with them. I recently sold my 15 year old Skoda Felicia which I bought for £700 3 years ago for £280, that little diesel took me thousands of miles around Europe and all the way back to its original place of conception the Czech Republic where everyone drives a Skoda Felicia. I know “Skoda Felicia?” “quality?” it drove like a Rolls Royce.

reply to post by tauristercus


the conclusion :

you lied - they invoked thier T&C , you get your money back in 180 days - and no longer have a paypal account

bitching about the T&C after you lied to them is just petulant

PS - this reply is not about weather the paypal EULA is fair or reasonable - to be honest i think it sucks , the problem is you lied - then crided because you got caught

Lets start collectively sending emails to paypal about this case using the email's subject line's identification code and ask them if its the way they do business... I'm doing so an closing my account... This is ridiculous they don't need to know your income they only do transaction for all that I know having THAT MUCH security hosted there consist of a security risk and also provide EVERYTHING a identity thief could ever dream for...

if you don't like disclosing you income to pay-pal it only cost $125 to set up a Nevada LLC corporation and start a bank account in the corporation name.

en.wikipedia.org...
en.wikipedia.org...

I wasn't kidding here's my contribution to the cause, even though he lied to them they had no reason to ask him such info they aren't a credit agency and/or part of a banking system in which requires such thing to be known...

reply to post by tauristercus

Here in the USA we have what is known as "Small Claims Court" For $35 spent in the County of the transaction, you can beg the court to order a claim against the company. If you win the case you receive the money plus the fees and any other related expenses. If the company doesn't show on that date you automatically win. Many companies fold and pay the initial claim amount, as it is cheaper to pay then to litigate for a small amount. Also companies don't like a black eye posted in the local newspaper as owing the claim. It goes into a permanent record in the county books.

I would assume in Australia you have a similar court transaction. Look into it.

Sorry to hear things didn't get resolved. Not sure if you saw my reply in the other thread, but I strongly recommend that you try contacting them through different e-mail addresses. Don't bother with the phone and tier one customer support. Go higher.

www.abovetopsecret.com...

Originally posted by mainidh
reply to post by anoncoholic

 

I'm a bit confused - non-negotiable means that the bank can only pay the money to the person named on the cheque?

Still your cash tho, you just can't get someone else to cash it in your name?

I'm money illiterate however, probably why I'm always skint, and I've had hassles writing my own signature at times from banks, who leer at me with sneaky eyes as if I'm some sort of scoundrel..

Since reading this original thread a few days ago, I wondered what the motive for suspending accounts and holding funds could be - especially since the funds are frozen and will be returned to the buyer on request... or to the seller after 6 months.

I am no financial wizard, but can funds that are frozen be considered assets for paypal, until they have been expelled from their books?

Do they have anyway to use the funds for their benefit? I mean to ask, can they submit these 'frozen' funds into an interest bearing account, where they can profit the interest, before expelling the frozen funds?

If this is possibe, think about the implications. What if they did this to 5,000 people world-wide, with an average of $200.00 per person, 1,000,000.00 would be gaining interest for them at any given time.

in an account that gains 4% interest... that's $40,000. Might not seem like a lot, but $40,000 can add up quickly, especially if this is possible and the number of people experiencing this problem is higher than 5k, or the funds that are frozen are more than $200 on average.

Maybe not possible for them to do, but maybe worth checking into.

reply to post by esteay812


It's exactly what they do. It's unfortunate that their clients have to suffer because of it. I think what really did him in was that he was selling precious metals and it was a brand new account. I don't know how he sold on ebay in the past, but I'm pretty sure a paypal account is a requirement. And if he was requesting the money via wire transfer at first, that probably threw up a bunch of red flags. On the other hand, they could have easily contacted the buyer, made sure they received their item, and then released the funds to the seller.

Originally posted by mileysubet
So you refused and or lied about your income to a credit based money exchange company, and now your angry?

I have never known PayPal to be a "credit based" company. You have to link a source of money, or add money, to them in order to do anything. They're just a money exchange company.

That is all.