Illegal holding of funds by paypal

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

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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!

I have been on Ebay for 12 years. Although I have changed accts a few times , I have always been at 100% feedback and Power seller. Which they take away all the time, who cares!! This is the third time in 9 months they have put my funds on hold in paypal. No warning, no complaints they just do it. It has now been two weeks on this hold. I am disabled and this is my work. I have ebay fees due. Shipping to get out and no funds.My acct will go negative in a few days. I call paypal and it is always the same bullshit lines. I am looking for a lawyer but know that it would be an up hill battle. Something needs to be done about these companies. Banks can’t even hold funds for 21 plus days!! I use to love selling on Ebay not anymore.The stress is killing me:(

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Posted: November 1, 2012 at 2:48 pm