admin : Tuesday, August 11, 2009, 15:37
New PayPal Development- “Rolling Reserve”
Another slap in the face for sellers using PayPal. It seems they are now holding a percentage of certain account holders sales before there is ever even a problem.
According to one account holder, PayPal is not using much discretion when deciding which accounts to apply this “safety feature” to. And on top of this, they do not seem to be notifying the owners of the accounts that are being affected either. PayPal has been avoiding customer notifications a lot here lately (see the previous post, PayPal Adds New Fees… )
This “rolling reserve” is apparently some kind of new buyer protection policy (or should I say PayPal protection policy?) used to create a “buffer” for any future chargebacks. What ever happened to “innocent until proven guilty”?
I have 2 companies working. We receive payments by paypal.
First company: 10,000 USD held + 10% of every new order for 60 days.
Second company: Today 5,000 USD held + 10% of every new order for 60 days.
If our profit is not more than 15% how the hell they want we can support our biz? Pay staffs, rents, providers, advertisement… PayPal is a stupid company, I hope Google Checkout or another cames soon and clean this rubbish and their stupid “policies”.