Buyer changes his shipping address then did a chargeback

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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!

In April 2012 I sold a Gold coin to on Ebay. The buyer payed the $950.00 on time and requested I ship the item to a new address, indicating he was going to be away on business and did not want a valuable item lost or stolen while he was away. The day after I shipped the item the buyer filed an unauthorized purchase claim with Paypal. Paypal then placed a hold on the funds while they investigated the ‘charge-back’. I supplied Paypal with proof of delivery, emails from the buyer regarding his being satisfied with the purchase. On the 29th day of the Paypal 30 day review I was notified that the charge-back was honored and $950.00 would be deducted from my account. I advised Paypal that that would be fine if the coin was returned to me. I’ve made repeated attempts to contact Paypal since then and have not had the courtesy of a reply. It ts clear to me now that this was fraud from the beginning yet Paypal is doing nothing about it.

Similar Complaints

Chargeback By PayPalBy L. Philpot A few days ago I was “charge-backed” by paypal from a fraudulent buyer, a total of $154.50 plus a $10 charge from paypal for investigation fee!?!?!. The buyer received the merchansdise, a...

PayPal Verified AddressBy Charles Weed I sold an item on ebay got instant payment from the buyer. He kindly asked in email please send to my moms address not mine. I sent the item a few days...

Posted: June 7, 2012 at 3:25 pm