Getting annoyed with their 21 days holds

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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

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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!

Getting annoyed with their 21 days holds and also I had like 4 or 5 payments that were scheduled to clear after the 3 day holding period once items were delivered and my money was not clearing. I called and they had to manually release the funds. I asked what happened and he said it he doesn’t have any idea why but there was some sort of glitch that caused the payments to be held again immediately after they were released. The funny thing was that he said it will never happen again but if he didn’t know how it happened how could he promise that it wouldn’t happen again? Just goes to show you how completely incompetent they are over at Paypal’s customer service. How come there’s never a glitch when it comes to paypal taking my money, it’s only when it is me wanting my money? If this happens one more time I will be looking for a different way to collect my payments. It should not have to be this hard.

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Posted: October 5, 2012 at 2:22 pm