PPC Submitter : Sunday, May 27, 2012, 21:20
Paypal is Holding over $27,000 of my money after services delivered
Paypal Review- An open letter
Imagine for a moment you go to your bank and they tell you they will not be releasing your funds to you for not a week, month, 2 months, but up to 180 days.
Well that is exactly what has happened to me and they are not even a bank. Paypal user beware, this is a paypal review.
After 5-8 days of great sales, I get an email to let me know my account has been limited…that equals by the way we are holding your money hostage and making interest without your permission.
I proceeded on April 8th to jump through a series of hoops “request for information” on the services I was providing. Just FYI its coaching…but does that matter? NOT AT ALL.
For a week I went back and forth with Paypal to come to THEIR conclusion they are holding my money up to 180 days.
Since the service of coaching is already delivered I sent a demand letter yesterday with no response.
So now I will let the market join in the conversation.
By the way if you are a news station, I have the calls recorded.
For anyone who is about and for free enterprise, business and against corrupt organizations please take a moment to share this with your representative, friends, and partners.
One last item, I have a credit card processor as well and we did the bulk of our processing with them. These transactions were just for a small portion. I don’t recommend anyone rely on paypal in fact I recommend you run from paypal before they decide to steal, o I mean hold your money to make interest on it.
Here was the open letter I sent on 5/14/2012
RE: Case PP-001-733-245-455
I am demanding that the hold on my funds/account be lifted. I am not requesting that my account be re-opened or allowed to continue to use the PayPal service, as I have already taken my business to your largest competitor and am no longer in need of PayPal’s services.
I have previously requested a review/appeal of my case which was denied, however because I know that holding my funds for any period of time for a non-fraudulent violation of PayPal’s Acceptable Use Policy is excessive, an abuse of power, and against the law.
I will be filing complaints with the following agencies on Tuesday morning, May 15, 2012 if I am not satisfied with PayPal’s response to this demand to release my funds:
The State of Missouri Office of the Attorney General
The State of Missouri Office of Finance
The Washington State Office of the Attorney General
The United States Federal Reserve
The United States Attorney General’s Office
I understand that PayPal does not operate as a “bank” which is precisely why they may be interested in such complaints
The Better Business Bureau:
All complaints will be filed “online” Tuesday morning, May 15, 2012 and written copies will also be sent via certified postal mail.
Next, I will use my unique skill set to bring broad media attention to this matter as it is a direct extension of my respected advice and opinion in the business space to my vast audience.
I have no problem with, and agree to leaving a balance of $2000 for credit card chargeback purposes for the duration of the 180 days. I feel that this is a fair resolution while still leaving PayPal with the means to charge back any future credit card disputes to my account.
Please be aware that replying with the standard “this is part of the terms of service that you agreed to” will not satisfy my demand, or deter me from filing my complaints with the agencies listed above on the morning of Tuesday, May 15, 2012. It will be up to those agencies to determine if PayPal is operating within the law, abusing power, etc.
With recent political interest of the White House and President of the United States on PayPal’s dealings it isn’t in your best interest to continue to illegally hold my money.
Again, I will be filing complaints with the above listed agencies on Tuesday morning, May 15, 2012 if I am not satisfied with PayPal’s response to this demand to release my funds.
Case PP-001-733-245-455
Randy Schrum
randy.schrum@randyschrum.com
———————————————–
End of Letter
I sent this to about 30 corporate paypal email addresses for paypals review and received no response.
What is your response? Do you think anyone should be able to hold your money?
Here is the article on my website:
http://randyschrum.com/paypal-review-holding-27849-70-of-my-money-an-open-letter/
Submitted By:: Randy Schrum
Location-: St. Louis Missouri
Similar ComplaintsItem delivered and positive feedback received but funds still on holdHave held my money for 2 weeks despite the fact that the item was delivered with positive feedback. I spoke to 4 pay pal reps as well as 2 ebay reps all giving me different...
Sold and electronically delivered four gift cards and got scammedI sold and electronically delivered four gift cards to the winning bidder of my four eBay auctions. Several weeks later, the buyer submitted a chargeback to his credit card company asserting that he did not...
Good for you for not taking paypals bullshit and for not sitting back and doing nothing while they hold your money and collect interest off of it. This company needs to be stopped!!!