I feel your pain, dude. Problem is (and I pretty much agree with all of your sentiments) that it's their playground. If you've got the time, and deep enough pockets, I hope you kick their butts... PayPal is out of control.
In the end, those of us who want access to the eBay market tolerate a little more indignity from PayPal than we would from your average service provider... Those of us familiar with merchant accounts are already used to doing this.
These are not good areas in which to work for emotionally reactive people. Not a slam, just an observation.
<< <i>I feel your pain, dude. Problem is (and I pretty much agree with all of your sentiments) that it's their playground. If you've got the time, and deep enough pockets, I hope you kick their butts... PayPal is out of control.
In the end, those of us who want access to the eBay market tolerate a little more indignity from PayPal than we would from your average service provider... Those of us familiar with merchant accounts are already used to doing this.
These are not good areas in which to work for emotionally reactive people. Not a slam, just an observation. >>
I agree with you. I got really hot headed and they seem to enjoy it even more. I am an Italian from Brooklyn and I get emotionally reactive at times. Paypal is cool and calculating and will screw you every way they can. I will not sell on ebay anymore. I can sell my stuff to APMEX.
I will disagree with all of you who stated that I should provide Paypal with documents and I will tell you why. I worked as an Investigator and in America, the burden of proof lies on the investigator. This means that if the state, government, or person accuses someone of fraud, crime, wrongdoing, etc, it is up to the investigative team to prove it. You can't just go and accuse someone of a crime and they are automatically guilty, you have to prove wrongdoing. In addition, the accused is INNOCENT UNTIL PROVEN GUILTY. This means that the accused does not have to prove that he/she is innocent.
With Paypal, they can simply accuse you of anything and they can freeze your account for any reason. I will list some of the reasons below.
1) They do a credit report check on you and it shows you have bad credit. Guess what? they freeze your account. 2) They ask you for a laundy list of paperwork which they know you will not be willing to provide, or can't provide. They freeze your account. 3) You piss off a customer service rep. They freeze your account. 4) You sell a lot of stuff and operate efficiently, it attracts their attention and they freeze your account.
Paypal will hold your money for 180 days, earn interest on YOUR MONEY.
Ultimately it is my fault for using Paypal. Their terms of service agreement states they can do all of the above.
I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far.
Paypal has a responsibility to its rule abidding members to protect them from crooks. The way they do that is to weed out the crooks BEFORE they scam a paypal customer. Since paypal is on the hook for deals gone bad (buyer/seller protection) can you really blame them for wanting to be sure you are not a crook? I applaud them in their recent years' progress in making buying and selling on ebay much safer. I have been in many ebay deals gone bad as both a buyer and a seller and paypal has always come through for me with the their protection gurantee.
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
Paypal is an insurance policy and a good one at that. They know which red flags to looks for. While all red flags are not the mark of a scam, there is good reason for paypal to make sure they are not a scam.
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
<< <i>I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far. >>
I follow the rules. I have paypal attached to my main business checking account. That is very easy. Money only flows one way, from paypal to my checking account...because I follow the rules. Paypal implements a lot of conservative actions to prevent scams. Blame the scammers, not paypal. But when you follow the rules, all works well. --jerry
I said your auctions reak of a scam - which is what everyone sees but you
private listings block feedback so future bidders have no idea if you are delivering -
as a buyer do you only buy from private listings so no one knows what you are buying?
did you use PAYPAL shipping so that tracking and confirmation were seen by them, or because of the insurance limit go another route?
your selling history of small items or items non coin related with most in the $50 to $150 range
and all of a sudden BAM -a bunch of platinum eagles - what did you have $20K - $30K sold in last couple weeks?
PAYPAL just wants to insure items are delivered - and will hold funds until they are sure delivery has occurrred
somehow you got the funds out of your account before the 15 day or positive feedback left on items had occurred
so true, you should not have to supply all that stuff to PAYPAL, but also you will have to wait until they give you the money and you will be very reluctant to send the items unless you have the funds - kind of a catch 22
you probably should have sold them to AMPEX or to someone on the BST - there are a couple major dealers always asking to buy them
edit to add - what history?
your selling activity history over the last few months or years volume and value (price) or you typically a $25K a week seller? or have you sold under $1K a month for the last few years?
I said your auctions reak of a scam - which is what everyone sees but you
private listings block feedback so future bidders have no idea if you are delivering -
as a buyer do you only buy from private listings so no one knows what you are buying?
did you use PAYPAL shipping so that tracking and confirmation were seen by them, or because of the insurance limit go another route?
your selling history of small items or items non coin related with most in the $50 to $150 range
and all of a sudden BAM -a bunch of platinum eagles - what did you have $20K - $30K sold in last couple weeks?
PAYPAL just wants to insure items are delivered - and will hold funds until they are sure delivery has occurrred
somehow you got the funds out of your account before the 15 day or positive feedback left on items had occurred
so true, you should not have to supply all that stuff to PAYPAL, but also you will have to wait until they give you the money and you will be very reluctant to send the items unless you have the funds - kind of a catch 22
you probably should have sold them to AMPEX or to someone on the BST - there are a couple major dealers always asking to buy them
edit to add - what history?
your selling activity history over the last few months or years volume and value (price) or you typically a $25K a week seller? or have you sold under $1K a month for the last few years? >>
Ok let me correct you on something. MY LISTINGS WERE PRIVATE, NOT MY FEEDBACK. If you check my feedback as a seller, its right there for everyone to see. What you can't see is what the buyer purchased. As I stated previously, I have been selling coins since 2006. I sold the 2008 Buffalo 4 coin sets back in June for $8000 and $6500. I sold several 2008 W Buffalo $50 dollar coins. I sold 2006 coins, etc. I did not just start selling coins last week. My Gold Buffalos sold for much more than the Platinum Eagles. I sold a 2008 W Buffalo PCGS MS70 for $4200 dollars during the summer. NONE of my platinum Eagles sold for that much money.
Here is what happened. My account was not limited, I got an email requesting information from Paypal. My mistake was calling paypal and telling that b---h that I was not going to send anything to them. She then stated "I will freeze your account and I won't release your funds until you send us what we are asking you for". Where I come from, that's called EXTORTION. So, because I did not do what they wanted, they are trying to force me to send them my private documents. I chose to close my account. They are still holding my money. This is pretty much how the Mafia works. I wasn't expecting this from Paypal. Once again, explain to me how they're trying to fight fraud when:
1) My coins are PCGS graded. 2) My photos are watermarked, and the serial number is clearly visible in my auctions. 3) I have a 100% feedback rating with 569 total transactions. 4) All my coins are shipped Registered Mail, with Electronic return receipt, AND Restricted delivery. 5) If you read my feedback, I SHIP FAST! 6) I have been selling sice 2006. I have several transactions, some over $8000 dollars. 7) I have a verified account. This means they have ALL of my information.
I guess having 100% feedback and selling expensive coins for several years is very suspicious.
I have been selling for 4 years and didn't think they would do this to me since I didn't give them any reason to. They will do this to everyone. They freeze accounts and steal money. Lets see when this happens to the rest of you guys and then we'll see if you still love Paypal.
<< <i>I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far. >>
I follow the rules. I have paypal attached to my main business checking account. That is very easy. Money only flows one way, from paypal to my checking account...because I follow the rules. Paypal implements a lot of conservative actions to prevent scams. Blame the scammers, not paypal. But when you follow the rules, all works well. --jerry >>
Thanks Jerry for being the voice of reason. The more Paypal looks out for their own self-interests the better they can service their customers.
I went through the OP's scenario myself years ago and keeping a cool head and faxing over required documents- albeit a hassle- allows me to safely deal with strangers on the internet. I've needed Paypal to step up twice now to protect me as a seller and they've done so both times.
To protect you, the consumer, Paypal must first protect themselves.
<< <i>I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far. >>
I follow the rules. I have paypal attached to my main business checking account. That is very easy. Money only flows one way, from paypal to my checking account...because I follow the rules. Paypal implements a lot of conservative actions to prevent scams. Blame the scammers, not paypal. But when you follow the rules, all works well. --jerry >>
Thanks Jerry for being the voice of reason. The more Paypal looks out for their own self-interests the better they can service their customers.
I went through the OP's scenario myself years ago and keeping a cool head and faxing over required documents- albeit a hassle- allows me to safely deal with strangers on the internet. I've needed Paypal to step up twice now to protect me as a seller and they've done so both times.
To protect you, the consumer, Paypal must first protect themselves. >>
I agree with you on Paypal protecting the consumer, protecting themselves, protecting me, etc. How is freezing my funds and denying me access to MY MONEY protecting me? I'm not the only one with this problem, they've done this to THOUSANDS of people. There are websites dedicated to Paypal injustices.
I feel really protected now that I don't have access to my funds. I feel even more protected when they attempted to withdraw money from my checking account. I guess they need to steal my money for my PROTECTION. This is the same mentality as when you go to the Airport and some lowlife TSA worker gropes you, your wife, or child for your own PROTECTION.
Let me give up all of my rights to privacy, let me allow Paypal to hold my money for 180 days, let them withdraw money from my account. I ACTUALLY FEEL A LOT SAFER NOW THAT MY ACCOUNT IS FROZEN AND I FEEL PROTECTED BY THE FACT THAT THEY ACCESS MY MONEY WITHOUT MY PERMISSION.
Next time I go to the airport and some pervert is grabbing my nuts I will feel really SAFE & PROTECTED.
No, they will do it to two types of users; scammers, and those who fly off the handle and refuse to cooperate because they lack a fundamental understanding of how payment processing works.
I actually have customers asking me why I refunded their payment. They are disappointed that I could not complete the transaction. These people were looking forward to receiving coins which they won and paid for. What about the money I lost on the sale? What about the final value fees that Ebay will be charging me for incomplete transactions? How is Paypal protecting these buyers?
How would you guys feel if you won an auction for a coin you really wanted, sent payment, and then the seller refunds your money because Paypal froze their account? I think you would be disappointed. I worked really hard to build my reputation for years with Ebay. In one day, all my years of hard work, sales, and positive feedbacks went down the toilet because some b----tch on Paypal had to make it personal with me.
<< <i>How is freezing my funds and denying me access to MY MONEY protecting me? >>
By your own admission, they did not do that until after you refused to cooperate.
Russ, NCNE >>
Russ,
Ok lets say I'm at fault and I refused to cooperate. Fine I'm the bad guy. I told them to close my account. I don't owe anyone any money. All my coins were shipped and received by the buyers. I don't want to do any more business with Paypal. Why can't they release my money? So punishing me by keeping my money is ok Russ? So its ok to hold people's money hostage because they refuse to cooperate? I deserve it for not bowing down and following their orders? Are we living in America or is this the Soviet Union?
So if I tell my bank that I want to close my account and withdraw all my money and the bank says no, we are keeping your money and you can't close your account its perfectly ok?
GUINZO1975, we can tell your frustrated and feeling taken advantage of, take a day or so and try to calm down, then call PayPal and give them what they need to satisfy them about your acct and you will be done with it, yes maybe you got a bad rep on the phone, all Bussiness's have them. When a payment processing company guarantees buys and sells they some times may seem over cautious. In the end it is there company and we either think there policies and demands are worth it or not. Our choice AL
It states very clearly in their TOS that in the event of a closed account they may hold funds for up to 180 days against the possibility of chargebacks. Just because your buyers have left feedback does not mean there is no possibility of chargebacks. It happens all the time.
<< <i>So if I tell my bank that I want to close my account and withdraw all my money and the bank says no, we are keeping your money and you can't close your account its perfectly ok? >>
First, you're comparing apples to oranges. A checking or savings account at your bank isn't processing third party payment transactions that could come back and bite them. Second, if you were closing a merchant account at your bank, yes, they very likely would do exactly as PayPal has done.
<< <i>I sell over 100k on ebay/paypal each year and have never been asked for for bank statements, credit card statements, vendor information or proof of inventory. I sell from a personal account and not a business account.
I would open a new paypal account and do my business from there. More than one paypal and ebay account is always a good idea for all sellers. >>
I never get that kind of question from paypal either. In fact I just sold a 12K coin last week and as usual I moved the money out of paypal right away with no problem. Paypal charged me 4% which is pretty high.
I feel the OPs pain- to a degree, but honestly, much of what you went through, unfortunate as it was (and, is) you brought upon yourself.
As suppose as I cooperated fully with Paypal I didn't inherit any of the hassles you brought up. It's their jukebox. Dance to the tune they play or find another venue to dance on.
<< <i>I feel the OPs pain- to a degree, but honestly, much of what you went through, unfortunate as it was (and, is) you brought upon yourself.
As suppose as I cooperated fully with Paypal I didn't inherit any of the hassles you brought up. It's their jukebox. Dance to the tune they play or find another venue to dance on. >>
...And it reads like he did just that.
sometimes you have to go along to get along; some folks just aren't wired to do that.
I understand the OPs frustration. I detest giving out personal information. I was a victim of Identity theft a few years ago, right after giving my information to Chubb Insurance for insuring a Gemstone. Since I use different addresses for different things, and since it was the specific info I provided the agent, I'm certain someone in the company took me for a ride. It was a huge mess to straighten out after all the new charge accounts he opened. I would be up in arms also if Paypal wanted to pry into my personal information. I'm fine with them keeping all the money for 6 mths versus giving them my personal info.
Luckily paypal has never asked for my SS or any other personal info. I am expecting their request any time though, considering they will begin reporting in 2011. I don't think there's anything any of us can do about it though, other than comply or quit buying/selling off Ebay all together. I've also used paypal many times for off Ebay purchases. They have certainly become a giant. They've come a long ways since 1999 when they used to pay $10 referral fee when you brought them a new customer. All transactions for sellers were free at that time thru a personal account. Like always, you never know you had a good thing until it's gone.
Comments
<< <i>selling $15 K in platinum eagles all in last week is a big flag, especially with your history
My history? what history? please elaborate
they froze your account or limited funds removal until feedback left or proof of delivery? >>
In the end, those of us who want access to the eBay market tolerate a little more indignity from PayPal than we would from your average service provider... Those of us familiar with merchant accounts are already used to doing this.
These are not good areas in which to work for emotionally reactive people. Not a slam, just an observation.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>I feel your pain, dude. Problem is (and I pretty much agree with all of your sentiments) that it's their playground. If you've got the time, and deep enough pockets, I hope you kick their butts... PayPal is out of control.
In the end, those of us who want access to the eBay market tolerate a little more indignity from PayPal than we would from your average service provider... Those of us familiar with merchant accounts are already used to doing this.
These are not good areas in which to work for emotionally reactive
people. Not a slam, just an observation. >>
I agree with you. I got really hot headed and they seem to enjoy it even more. I am an Italian from Brooklyn and I get emotionally reactive at times. Paypal is cool and calculating and will screw you every way they can. I will not sell on ebay anymore. I can sell my stuff to APMEX.
I will disagree with all of you who stated that I should provide Paypal with documents and I will tell you why. I worked as an Investigator and in America, the burden of proof lies on the investigator. This means that if the state, government, or person accuses someone of fraud, crime, wrongdoing, etc, it is up to the investigative team to prove it. You can't just go and accuse someone of a crime and they are automatically guilty, you have to prove wrongdoing. In addition, the accused is INNOCENT UNTIL PROVEN GUILTY. This means that the accused does not have to prove that he/she is innocent.
With Paypal, they can simply accuse you of anything and they can freeze your account for any reason. I will list some of the reasons below.
1) They do a credit report check on you and it shows you have bad credit. Guess what? they freeze your account.
2) They ask you for a laundy list of paperwork which they know you will not be willing to provide, or can't provide. They freeze your account.
3) You piss off a customer service rep. They freeze your account.
4) You sell a lot of stuff and operate efficiently, it attracts their attention and they freeze your account.
Paypal will hold your money for 180 days, earn interest on YOUR MONEY.
Ultimately it is my fault for using Paypal. Their terms of service agreement states they can do all of the above.
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
<< <i>Paypal is a money transmitter, period. >>
Paypal is an insurance policy and a good one at that. They know which red flags to looks for. While all red flags are not the mark of a scam, there is good reason for paypal to make sure they are not a scam.
"A car is a tool that takes you from one place to another. Everything beyond that is a payment for other people's perception of you."
<< <i>I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far. >>
I follow the rules. I have paypal attached to my main business checking account. That is very easy. Money only flows one way, from paypal to my checking account...because I follow the rules. Paypal implements a lot of conservative actions to prevent scams. Blame the scammers, not paypal. But when you follow the rules, all works well. --jerry
I said your auctions reak of a scam - which is what everyone sees but you
private listings block feedback so future bidders have no idea if you are delivering -
as a buyer do you only buy from private listings so no one knows what you are buying?
did you use PAYPAL shipping so that tracking and confirmation were seen by them, or because of the insurance limit go another route?
your selling history of small items or items non coin related with most in the $50 to $150 range
and all of a sudden BAM -a bunch of platinum eagles - what did you have $20K - $30K sold in last couple weeks?
PAYPAL just wants to insure items are delivered - and will hold funds until they are sure delivery has occurrred
somehow you got the funds out of your account before the 15 day or positive feedback left on items had occurred
so true, you should not have to supply all that stuff to PAYPAL, but also you will have to wait until they give you the money
and you will be very reluctant to send the items unless you have the funds - kind of a catch 22
you probably should have sold them to AMPEX or to someone on the BST - there are a couple major dealers always asking to buy them
edit to add - what history?
your selling activity history over the last few months or years
volume and value (price)
or you typically a $25K a week seller?
or have you sold under $1K a month for the last few years?
<< <i>I did not say you were a scammer,
I said your auctions reak of a scam - which is what everyone sees but you
private listings block feedback so future bidders have no idea if you are delivering -
as a buyer do you only buy from private listings so no one knows what you are buying?
did you use PAYPAL shipping so that tracking and confirmation were seen by them, or because of the insurance limit go another route?
your selling history of small items or items non coin related with most in the $50 to $150 range
and all of a sudden BAM -a bunch of platinum eagles - what did you have $20K - $30K sold in last couple weeks?
PAYPAL just wants to insure items are delivered - and will hold funds until they are sure delivery has occurrred
somehow you got the funds out of your account before the 15 day or positive feedback left on items had occurred
so true, you should not have to supply all that stuff to PAYPAL, but also you will have to wait until they give you the money
and you will be very reluctant to send the items unless you have the funds - kind of a catch 22
you probably should have sold them to AMPEX or to someone on the BST - there are a couple major dealers always asking to buy them
edit to add - what history?
your selling activity history over the last few months or years
volume and value (price)
or you typically a $25K a week seller?
or have you sold under $1K a month for the last few years? >>
Ok let me correct you on something. MY LISTINGS WERE PRIVATE, NOT MY FEEDBACK. If you check my feedback as a seller, its right there for everyone to see. What you can't see is what the buyer purchased. As I stated previously, I have been selling coins since 2006. I sold the 2008 Buffalo 4 coin sets back in June for $8000 and $6500. I sold several 2008 W Buffalo $50 dollar coins. I sold 2006 coins, etc. I did not just start selling coins last week. My Gold Buffalos sold for much more than the Platinum Eagles. I sold a 2008 W Buffalo PCGS MS70 for $4200 dollars during the summer. NONE of my platinum Eagles sold for that much money.
Here is what happened. My account was not limited, I got an email requesting information from Paypal. My mistake was calling paypal and telling that b---h that I was not going to send anything to them. She then stated "I will freeze your account and I won't release your funds until you send us what we are asking you for". Where I come from, that's called EXTORTION. So, because I did not do what they wanted, they are trying to force me to send them my private documents. I chose to close my account. They are still holding my money. This is pretty much how the Mafia works. I wasn't expecting this from Paypal. Once again, explain to me how they're trying to fight fraud when:
1) My coins are PCGS graded.
2) My photos are watermarked, and the serial number is clearly visible in my auctions.
3) I have a 100% feedback rating with 569 total transactions.
4) All my coins are shipped Registered Mail, with Electronic return receipt, AND Restricted delivery.
5) If you read my feedback, I SHIP FAST!
6) I have been selling sice 2006. I have several transactions, some over $8000 dollars.
7) I have a verified account. This means they have ALL of my information.
I guess having 100% feedback and selling expensive coins for several years is very suspicious.
I have been selling for 4 years and didn't think they would do this to me since I didn't give them any reason to. They will do this to everyone. They freeze accounts and steal money. Lets see when this happens to the rest of you guys and then we'll see if you still love Paypal.
<< <i>
<< <i>I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far. >>
I follow the rules. I have paypal attached to my main business checking account. That is very easy. Money only flows one way, from paypal to my checking account...because I follow the rules. Paypal implements a lot of conservative actions to prevent scams. Blame the scammers, not paypal. But when you follow the rules, all works well. --jerry >>
Thanks Jerry for being the voice of reason.
The more Paypal looks out for their own self-interests the better they can service their customers.
I went through the OP's scenario myself years ago and keeping a cool head and faxing over required documents- albeit a hassle- allows me to safely deal with strangers on the internet. I've needed Paypal to step up twice now to protect me as a seller and they've done so both times.
To protect you, the consumer, Paypal must first protect themselves.
<< <i>
<< <i>
<< <i>I use a oneway savings account set up at my credit union with paypal, when I send money to it I then pull it out to a different bank as soon as it hits. It does not allow money to be drawn like a check or debit and I feel that gives me a measure of protection from Paypal demands. I have been contacted 2times telling me I have to put a two way account up but I have resisted so far. >>
I follow the rules. I have paypal attached to my main business checking account. That is very easy. Money only flows one way, from paypal to my checking account...because I follow the rules. Paypal implements a lot of conservative actions to prevent scams. Blame the scammers, not paypal. But when you follow the rules, all works well. --jerry >>
Thanks Jerry for being the voice of reason.
The more Paypal looks out for their own self-interests the better they can service their customers.
I went through the OP's scenario myself years ago and keeping a cool head and faxing over required documents- albeit a hassle- allows me to safely deal with strangers on the internet. I've needed Paypal to step up twice now to protect me as a seller and they've done so both times.
To protect you, the consumer, Paypal must first protect themselves. >>
I agree with you on Paypal protecting the consumer, protecting themselves, protecting me, etc. How is freezing my funds and denying me access to MY MONEY protecting me? I'm not the only one with this problem, they've done this to THOUSANDS of people. There are websites dedicated to Paypal injustices.
I feel really protected now that I don't have access to my funds. I feel even more protected when they attempted to withdraw money from my checking account. I guess they need to steal my money for my PROTECTION. This is the same mentality as when you go to the Airport and some lowlife TSA worker gropes you, your wife, or child for your own PROTECTION.
Let me give up all of my rights to privacy, let me allow Paypal to hold my money for 180 days, let them withdraw money from my account. I ACTUALLY FEEL A LOT SAFER NOW THAT MY ACCOUNT IS FROZEN AND I FEEL PROTECTED BY THE FACT THAT THEY ACCESS MY MONEY WITHOUT MY PERMISSION.
Next time I go to the airport and some pervert is grabbing my nuts I will feel really SAFE & PROTECTED.
<< <i>They will do this to everyone. >>
No, they will do it to two types of users; scammers, and those who fly off the handle and refuse to cooperate because they lack a fundamental understanding of how payment processing works.
Russ, NCNE
<< <i>How is freezing my funds and denying me access to MY MONEY protecting me? >>
By your own admission, they did not do that until after you refused to cooperate.
Russ, NCNE
How would you guys feel if you won an auction for a coin you really wanted, sent payment, and then the seller refunds your money because Paypal froze their account? I think you would be disappointed. I worked really hard to build my reputation for years with Ebay. In one day, all my years of hard work, sales, and positive feedbacks went down the toilet because some b----tch on Paypal had to make it personal with me.
<< <i>What about the money I lost on the sale? What about the final value fees that Ebay will be charging me for incomplete transactions? >>
All you had to do was provide the requested information. You have nobody to blame but yourself.
Russ, NCNE
<< <i>
<< <i>How is freezing my funds and denying me access to MY MONEY protecting me? >>
By your own admission, they did not do that until after you refused to cooperate.
Russ, NCNE >>
Russ,
Ok lets say I'm at fault and I refused to cooperate. Fine I'm the bad guy. I told them to close my account. I don't owe anyone any money. All my coins were shipped and received by the buyers. I don't want to do any more business with Paypal. Why can't they release my money? So punishing me by keeping my money is ok Russ? So its ok to hold people's money hostage because they refuse to cooperate? I deserve it for not bowing down and following their orders? Are we living in America or is this the Soviet Union?
So if I tell my bank that I want to close my account and withdraw all my money and the bank says no, we are keeping your money and you can't close your account its perfectly ok?
AL
<< <i>Why can't they release my money? >>
It states very clearly in their TOS that in the event of a closed account they may hold funds for up to 180 days against the possibility of chargebacks. Just because your buyers have left feedback does not mean there is no possibility of chargebacks. It happens all the time.
<< <i>So if I tell my bank that I want to close my account and withdraw all my money and the bank says no, we are keeping your money and you can't close your account its perfectly ok? >>
First, you're comparing apples to oranges. A checking or savings account at your bank isn't processing third party payment transactions that could come back and bite them. Second, if you were closing a merchant account at your bank, yes, they very likely would do exactly as PayPal has done.
This stuff is basic business reality.
Russ, NCNE
<< <i>I sell over 100k on ebay/paypal each year and have never been asked for for bank statements, credit card statements, vendor information or proof of inventory. I sell from a personal account and not a business account.
I would open a new paypal account and do my business from there. More than one paypal and ebay account is always a good idea for all sellers. >>
I never get that kind of question from paypal either. In fact I just sold a 12K coin last week and as usual I moved the money out of paypal right away with no problem. Paypal charged me 4% which is pretty high.
As suppose as I cooperated fully with Paypal I didn't inherit any of the hassles you brought up.
It's their jukebox. Dance to the tune they play or find another venue to dance on.
<< <i>I feel the OPs pain- to a degree, but honestly, much of what you went through, unfortunate as it was (and, is) you brought upon yourself.
As suppose as I cooperated fully with Paypal I didn't inherit any of the hassles you brought up.
It's their jukebox. Dance to the tune they play or find another venue to dance on. >>
...And it reads like he did just that.
sometimes you have to go along to get along; some folks just aren't wired to do that.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I understand the OPs frustration. I detest giving out personal information. I was a victim of Identity theft a few years ago, right after giving my information to Chubb Insurance for insuring a Gemstone. Since I use different addresses for different things, and since it was the specific info I provided the agent, I'm certain someone in the company took me for a ride. It was a huge mess to straighten out after all the new charge accounts he opened. I would be up in arms also if Paypal wanted to pry into my personal information. I'm fine with them keeping all the money for 6 mths versus giving them my personal info.
Luckily paypal has never asked for my SS or any other personal info. I am expecting their request any time though, considering they will begin reporting in 2011. I don't think there's anything any of us can do about it though, other than comply or quit buying/selling off Ebay all together. I've also used paypal many times for off Ebay purchases. They have certainly become a giant. They've come a long ways since 1999 when they used to pay $10 referral fee when you brought them a new customer. All transactions for sellers were free at that time thru a personal account. Like always, you never know you had a good thing until it's gone.
Thanks for your support and feedback. I get it............I deserve everything I got and I should be punished for my sins.
Regards,
Victor