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Paypal reversed payment from a good buyer

A very good eBay buyer from Mongolia sent a $154.50 payment for a Turkish coin made in Turkey and in his payment through PayPal he mentioned that he liked a coin from Shiraz of the Ilkhanid dynasty that he bought 2 months before (The Ilkhanids was a (13th century Persia/Iranian dynasty). PayPal picked up the word Shiraz, sent his payment back and limited my account. They want me to sign an affidavit that I will not do anything like that again, in essence charging me with doing something wrong.
I called the U.S. Treasury department OFAC spoke with a representative that told me the ruling was simply “NO Importation” if the coin was already outside of Iran it was not subject to this regulation. I asked them to contact PayPal and explain the ruling but they said they could not because PayPal was a private company and they could do whatever they want to! I have over $500 in my PayPal account which I cannot take out because of the limitation PayPal placed on it. Do you think it would do any good to speak with the New Jersey department of Banking & Insurance, it certainly seems like blocking my access to my own money ($500)without cause is a violation of banking regulations?

Posted: May 21, 2013 at 6:20 pm

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