PPC Submitter : Monday, June 4, 2012, 13:27
Random secruity hold on money
About a month ago a friend of ours wanted to send a student some money, as a gift, towards his collage admission fees. The student lives in Peru and his family could not afford to pay for his admission into school. The friend sent a GifT transaction of $600.00 to the students new PayPal account. The student lives in Peru, the gift money from USA. The student was notified that the money was in his account however he was not able to move the funds out of PayPal to his bank account. Nor would PayPal let him return the gift to the sender. The only option he had was to use the money for purchases on line, Ebay. I knew both parties and tried to help the student identify what the issues were but failed with PayPal. So I suggested he try sending me the money as a “service”. As soon as PayPal finished with an investigation the student sent the $600.00 to my account. PayPal charged the student $25.00. As soon as the money was in my account PayPal opened a “case” to investigate the possible “error” with the transaction and asked me to confirm the transfer was authorized by me. I filled out the required questionare. PayPal said they would notify me when there investigation was complete. What investigation? For what? PayPal wanted the shipping address for the item I shipped the student. There was NO ITEM. So of course I had great problems with the form. It has been a couple weeks and no word from PayPal. IN the mean time I have given $600.00 of my own money to the student so he could register for collage. I am out $600.00. Now PayPal has shut down my PayPal account because the account was “randomly selected” for a security check. I cannot get into my account without providing my complete bank account number and complete credit card number, then answer more questions. The today PayPal has now done the same “random selection” on my business PayPal account. So they have shut me down on both accounts, personal and business. To make matters worse I am in South America, I flew here to help the student get into college by bringing him the money myself!
Submitted By:: D. Peck
Location-: South America
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Don’t think of it as random when it comes to paypal holding your money. Think of it as customary. Never rely on getting your money when you think you will. You are just setting yourself up for disappointment. This is why it is impossible to run a business using paypal because paypal holds money whenever they feel like it.
I dont believe anything is random when it comes to paypal. They hold fund for no reason at all. I feel they hold the money so they can make money off my money, This is one of the MANY reason I will never use them again!
It seems like holding funds is more, and more common with this company. They will find any excuse to keep your money in lock down, and worse make you wait for the looong its’ time. I hate them, speaking to someone who been their and done. well good luck!!