Anyone that still have balance on PayPal, Withdraw like MAD

[ngenme]

They seized my $9600 balance. I usually clear my account. However, it's near payment day, I thought I'll just withdraw at once. I've been in business with them for years and is not doing anything risky, or so I thought.

As usual they ask for documents and stuff. Then they rejected what I sent and ban permanently. Of course I can give notarized copies and get my bank to testify. But that doesn't seem to be the real issue.

However, I found this URL on the web

http://www.paypalsucks.com/PayPalFormerEmployee1.shtml

I think paypal deliberately use obviously flawed anti fraud detection. So when legitimate people supply legitimate papers they can claim that it's fake or "risky" and seize money anyway.

Despite the fact that my payers are all legitimate I think they intent to grab all of my money.

I am going to sue them.

Meanwhile, I wonder if parking companies can wire money to Indonesia? I have a US bank account if they cannot.

Update: they can. There goes Paypal greedy 2.5% kurs. Even if it has to be more than $1k, who care. I'd rather park my money at bodis, parkingcrew, and voodoo than at paypal :D now.

How can people in Indonesia sue. Should I sue their subsidiary in Singapore?

 

[liquidcherry]

Yet again, another whiner about paypal.
Without again not saying WHY paypal seized account.
Paypal just does NOT take money from an account unless there is fraud.

Funny, that these whiners whine about paypal, yet paypal is still in business, still takes care of business, still is HONEST with those who do HONEST business.

Dawg,

I don't think you should call someone a fraud or whiner just because they complain about pay pal??

Since more info surfaced after your comment i can see where you are coming from...YOU are working for paypal!!! lol

Jokes aside, let me tell you about my own probs with them, maybe it will make you think twice or change your strong believe in them....

I used SOLELY paypal for all my online ventures in the past and never had a problem UNTIL a client of us had their CC stolen...so the client contacted PP, PP just froze our account,(couldn't use my PP account at all), they notified me and i submitted ALL necessary documents, contracts etc....it took more then 3 months to get my account back working....on the other hand, i used in the meantime google checkout since this was the only alternative for me and even they didn't provide recurring charging i managed to have it working, sorta(do you know what P.I.T.A it is to manually change 60+accounts?) NO, you don't lol

Besides that, i kinda understand that companies like PP try to limit fraud or problems BUT!!!!

During the period of not having PP and using google checkout, there was another incident with one of my clients card..but google NEVER froze my account, i still could use it and after providing google with evidence that i was not at fault.... boom!! everything went smoothly...and it took not even 3 weeks to clear eveything out....so....you still wanna praise PP and their practices to a level holier than anything?? i don't think so......

Besides that just think about what you could do with a 9600 bucks loan in a 180 day time period...and multiply it with thousands of accounts or similar incidents, just saying....just like the banks, they work with YOUR money, use it to make big profits... (and sadly if you need a small loan they give you the finger)

Anyway, just food for thoughts....peace and out

Cheers

Liquid

 

[iowadawg]

Yet again, another whiner about paypal.
Without again not saying WHY paypal seized account.
Paypal just does NOT take money from an account unless there is fraud.

Funny, that these whiners whine about paypal, yet paypal is still in business, still takes care of business, still is HONEST with those who do HONEST business.

 

[Ben42]

Without knowing the details I can't really comment, so...why did they seize your account?

 

[lothos]

I always withdraw money from paypal immediately. I don't think I've left over 200 bucks in there for more than a couple days.

 

[barefoottech]

Yet again, another whiner about paypal.
Without again not saying WHY paypal seized account.
Paypal just does NOT take money from an account unless there is fraud.

Funny, that these whiners whine about paypal, yet paypal is still in business, still takes care of business, still is HONEST with those who do HONEST business.

I agree

 

[ngenme]

Yet again, another whiner about paypal.
Without again not saying WHY paypal seized account.
Paypal just does NOT take money from an account unless there is fraud.

Funny, that these whiners whine about paypal, yet paypal is still in business, still takes care of business, still is HONEST with those who do HONEST business.

I would have said the exact same thing till it happen to my self. Why do you think I had $9600 there? I trusted them.

The official reason why they banned my account is because they think my account is high risk because they cannot verify my identity.

I am NOT accused of fraud or violation of TOS. And that's EXACTLY what worries me. If I am accused of fraud, I can sort that out. Even those that violate their TOS get sorted out. It's because I don't, I am concern that their real reason is because they want to seize my money.

They said they'll return it after 180 days. However, many things can go wrong for that 180 days. They're unreasonable now, how can I know they will be reasonable 180 days from now.

I provided documents they ask and can give more. Hell, if my identity is really the issue and I got another chance to proof my self, I'll fly to singapore and visit their office.

You may think this is an easy issue to solve. After all, the issue is just whether I am who I say I am. No dispute in all these years against me.

I think the actual reason is the following.

1. I made a lot of money recently. Bizs improve. What can I say.
2. This raises some flags. Obviously. Or perhaps some hacker indeed have access to my account. No money lost yet.
3. Naturally they limit.
4. They asked for verification. I send them documents.
5. Now this is where they go wrong. They asked for ID and bills. Those can be easily faked.
6. Because those can easily be faked, most sent to them are indeed fake. Not mine. I sent real ones. However, you're facing a fraud department that handles ID where 99% of which are indeed fake.
7. They err in favor of rejecting ID.
8. So they set limitation to permanent.
9. Their procedure is to hold money for 180 days.

It is also possible that they just want to seize it forever like what this guy said:

Yes, the application process COULD be made more stringent, but it is felt (probably correctly) that a brand-new customer would certainly balk at doing things like sending in notorized copies of their driver's licence and so forth. So an "alternate strategy" for offsetting the charge-back losses slowly evolved at PP. It's the perfect scheme really; since PP can't usually catch the scammers and dosen't want to loose customer base by making things more stringent to start with- they decided to simply re-coup their chargebacks from the pockets (and accounts) of good, solid people under the easily-defensible and impossible-to-criticize guize of "Fraud Prevention and Enforcement".

http://www.paypalsucks.com/PayPalFormerEmployee1.shtml

This is what I feared the most.

Again, I don't mind providing notarized copies, etc. It's just that they have closed their eyes and ears.

Anyway learn from my lesson:
1. Don't live huge balance in paypal. I actually deliberately store money in paypal as favor. Rather than storing it in my credit card where paypal has to charge first, why not leave some in paypal to help them save costs. Well, bad idea. Just don't.
2. Bodis, voodoo, and parkingcrew can just wire money to your bank account. Once your bizs grow there will be risk. They will limit your account. It happens. So just wire straight to your bank bypassing paypal if money is more than $3k per month.

 

[Tippy]

You have 9k in paypal and biz is booming yet you still live with mommy and daddy, how old are you.

 

[Tia Wood]

What business were you in that kept 118k in a paypal account on a weekly basis? I need to change my business.

Yeah, no kidding! I'd like to know too.

 

[Michelle]

I always withdraw money from paypal immediately. I don't think I've left over 200 bucks in there for more than a couple days.

I am the same It only takes one dispute to put your account on hold

 

[baseballworld]

Let me get this straight. You lost $9,600.00 in a paypal account thats now locked? Someone should kick you. Hard. Why would you need that much in a paypal account.

 

[interestedenough]

I heard in a Domainsherpa interview with Adam Dicker (he owns DNF aka DNF) that paypal cancelled his account because he was bringing in too much money (in his case, they gave the money back). So I am guessing there are some types of financial transactions that make paypal nervous. Instead of investigating in depth the problems, they resolve to just close those accounts.

If you think of it, transactions from Domainers might look fishy sometimes:
- Today, you sell a domain to somebody in Singapore and Tomorrow , you are selling one to somebody in Ireland or India.
- No tangible asset is being exchanged.
- You sell a domain without exactly knowing who it is that is buying it from you.
- Some domains, and their owners are pretty weird.

 

[alien51]

I think if your money is approaching $10,000 USD, you are very close to triggering the money laundering alarms. Lesson learned: Do your financial transactions below radar.

If identity verification is the ONLY issue, i don't know why you and Paypal can't agree on what identity verification is acceptable.

I haven't read it on any of the thread posts here, but have you actually called them on the phone?

I called up Paypal once to complain about a chargeback issue, they even have an agent who can speak my native Alien language.

 

[johname]

utility bills are asked for to verify the home address the same as one in the PP account. Its not a "Oh your full name not on the utility bill=fail". The odds are incredibly high he has the last name of his parents anyway.

PP verifying you, you really should have done this before you started bring in the big bucks.

The only thing I thinks a sham here is the amount of time, 180 days, hopefully that's just worst case scenario for getting it handled.

The key here is it looks like there no other party that complaining they were wronged. PP wont keep the money if it's bodis parking income for example.

 

[Dave]

This topic is all a bit too strange. $9.6k in Paypal balance and you never once withdrawn because you played too many video games whilst living with your parents yet apparently business is booming and yet you don't seem too pissed off about losing $9.6k!?

Strangest Namepros thread ever if this is legitimate..

 

[alien51]

you still live with mommy and daddy, how old are you.

I was wondering about that. LOL

But anyway, I've read a news article in CNN that many Americans have already moved-in with their parents after their unemployment benefits have dried up. Oh, recession.

 

[dezinerite]

I've been using Paypal for years too. I feel they try to do the right thing whenever they can but they have pissed me off several times already (incl. not keeping their word of "buyer protection").

Not withdrawing almost 10K to your bank account is quite shocking, esp. coz Paypal's known for freezing accounts almost whenever they feel like it. I remember going abroad on holiday once and I had to make a payment and as soon as I logged in they recorded a different IP and froze my account. They've got a cabinet full of my verification documents now.

 

[mis_chiff]

I hire a specialist to unlock the account. He seems to be pretty good.

I can introduce you to him. Very good and very experienced. Not sure he clicks with my situation though.

That statement sounds as shady as an eclipse...

what do you mean you hired a "specialist"
and what did this "specialist" do/provide
to get the account unlocked.

as for Utility Bills, not sure how they work
where you are, but here [Canada] they are sometimes used as an acceptable verification of address.

and with all the money you claim to make, surprised you still live at home.
You don't have to buy a mortgage, just rent...

 

[holyroller]

Was having a look round my paypal and after a while saw that I have a limit of £165,000 per month (not sure if this is a total or for specific transactions). I very much doubt the $ amount actually has anything to do with the locking of your account and paypal often lock account if someone even a few transactions down the line from you commits fraud or uses a stolen credit card etc..

I know the 180 day thing has been in Paypals TOS for years and know a few people who have been caught foul of this, although in the end they got their money back (albeit 6 months later).

Most likely paypal will have a reason for the ban/lock, but if another persons account is involved they probably won't tell you what it is.

The most I have ever had in my paypal account was around £1200, over the last 6 years my account has been frozen/locked around 5 times. Twice because they got it into their head I was a charity, even though I never claimed that, once because someone used a stolen credit card to pay for goods from someone I had made a transaction with, and twice to verify my identity. Longest time it has lasted for was around 2 weeks.

 

[Domainace]

Interesting. I don't especially trust Paypal with my money, but what's with the hostility towards the OP here? Who cares if he lives with his parents? What does that have to do with anything? Does anyone here know so much about his circumstances that you can pass judgement on that alone? Are you also aware that not all cultures are so keen to kick the kids out at 18 as America?

I don't see why he has to explain his living situation to anyone, and it's a bit bizarre that some posters are so consumed with that.

 

[ngenme]

Good news guys. I got my money back. My account is still permanently limited. Hiks hiks. What to do?

 

[IAmAllanShore]

Just a quick data point to share .
A business I owned kept large amounts of money in PayPal simply because we did "trust" eBay/PayPal for the exact reasons you mentioned. We did one weekly "sweep" from our online sales into the bank, and had been doing this for years.
Then one night (~2:30AM) on the day before we always did our weekly sweep, I got an email saying that we were all of a sudden "high risk" and that they'd be holding the money for 180 days, at which point I could request that it be released. (Note: not even that it would be released in 6 months, but that I could request that it be.)
Now I'm still waiting for $118,192.54 to be released from PayPal, and I'm using a merchant account through my bank for a lower rate than I had through PayPal.
PayPal isn't perfect, and neither is any company their size. The problem is that they tend to be rather cavalier with how they handle risk/customers, and have no problem playing a heavier hand than needed (Game theory).
Back to lurk,
:gl:

Think of all the companies, all the people, on the net who do millions per month.
Who accept paypal!
Do you really think a company doing a million dollars a day via paypal is going to have paypal shut down their account?

Remember, paypal is owned by ebay!

Few years back, I don't know if it is still that way today, a simple form was on paypal to fill out if you saw you were going to be having like 25,000 or more in sales in a given time.

 

[Keral_Patel]

Not trying to teach any sneaky ways here but If you have that much transactions then why not keep multiple paypals. [Legit Multiple Paypals on your name, your mothers name, your sisters name etc etc etc]

Yes tax filing and other stuff does increase but I spread risk across the newer accounts and my old established accounts can only be used for receiving money from the people I know from years.

 

[RazorNF]

Yes, for sure never leave such a large balance in your Paypal account.

I tend to always withdraw to my bank whenever I get a sizable payment.

 

[Dave_Z]

How can people in Indonesia sue. Should I sue their subsidiary in Singapore?

Generally you either sue the party in their jurisdiction, or sue in yours and somehow enforce your favorable decision (if ever) on the respondent that lives or is "domiciled" elsewhere. Your PayPal agreement can give you an idea where to sue.
Unfortunately, cross-border lawsuits aren't exactly cheap. Not unless one can afford to fight for the so-called principle.