After 10 years I have to get Verified

PayPal Warning

While we do not have the resources to verify each and every complaint we receive, we do believe that all reports posted here are true based on our own experience with Paypal and the growing number of corroborating horror stories we receive every day. The main subject of the majority of these horror stories is the following:

Your Paypal account can be frozen at any time, without advance notice, leaving you without your money for months (if not forever), and there isn't much you can do about it.If you would like to submit your own PayPal horror story, we would be more than happy to post it for everyone to read, providing that it is truthful and void of inappropriate language. Please feel free to submit your story by clicking Here

If you are searching for an alternative to PayPal, we strongly suggest acquiring a Real Merchant Account. CLICK HERE FOR OUR TOP PICK.

How Does PayPal Make Money With My Money?

According to the San Francisco Chronicle, there are approx. 100,000 complaints outstanding at PayPal (Are any of these yours?). In many instances disputes can run on for months leaving people frustrated and out of pocket as they are unable to access their accounts. So what happens to the millions of dollars tied up in frozen accounts and disputes? Well, here is a clip from the San Francisco Chronicle that basically sums it up:

U.S. District Judge Jeremy Fogel of San Jose refused to dismiss a lawsuit that seeks class-action status on behalf of thousands of PayPal customers nationwide. A common allegation is that the company brushes off or stalls customer grievances for months and meanwhile freezes the customer's account and pockets the interest (So that's how they make their money!). No wonder they freeze so many accounts!

After using Ebay and Paypal for over 10 years as both a buyer and a seller, I reached the $10,000 limit and was told I needed to be “VERIFIED.” Because of some unfortunate events in my life (foreclosure and other credit issues), I cannot get a bank account or a credit card and cannot become verified. I have been a good 100% customer with Ebay and Paypal for so many years and now I am being punished because of this. I am not a bad person and, hopefully, can put all this behind me some day. I feel there are many people out there in my situation because of the present economy. I work, pay my bills, pay taxes, take care of my children and grandchildren and have always been a productive human being, but have faced some unfortunate events in my life and. Why would they punish me for being a good customer?

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Posted: October 12, 2012 at 3:41 pm