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After 10 years I have reached “spending limit”

I am using ebay for over 10 years, using paypal as it is the only way to pay for the merchandise. I have few credit cards attached to my paypal, which are charged for the transaction.
Suddenly I received an email from paypal that I reached some limit of 10000$ and my identity needs to be verified. As a verification process , my bank account has to be linked to paypal and I have to sign some online agreement to authorize paypal using my account.
????? Any sense? I called and some pretty much stupid rep tried to avoid answer my direct questions , and repeating some nonsense, filled up by the ‘thunder worlds” : Government requested paypal to users verify accounts and keep them linked to paypal with the authorization to use and why ?? because of money laundry / terrorists attacks / frauds. The rep could not provide any document about this ‘Government act’ neither explanation about the validity of the identity verification in their way.
To me it looks like a simple lie to confuse the users and get them to sign the authorization to let paypal use the accounts for the transactions , rather that credit cards – much more attractive profit for paypal.

I found it completely not-ethical, pushy and would agree to participate in any law suits against paypal now.

I would close my paypal account at all, but how else pay for transactions on ebay ??

So paypal is abusing the situation , knowing that the customers who are using ebay for many years would finally reluctantly agree on that pirate step and would give them access to the bank account. And then … I can just see problems.
Anyway, it reminds me HST in British Columbia, even worse.

It must be fought back and restrain paypal, or to force ebay to use some other service provider and get away from paypal this yummi chunk of profit from the ebay customers transactions .

Posted: November 20, 2012 at 4:51 pm

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One thought on “After 10 years I have reached “spending limit”
  1. Kelly on

    Paypal lets scammers rip you off left and right using their service but when good honest folks want to simply use their service to pay for small purchases we are all of the sudden money laundering terrorists. I got the same email warning me about reaching my spending limits and paypal will never get access to my bank account so I wont be using paypal anymore.