PayPal Took My Account

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

f 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!

By Anonymous

I sold an item on eBay to a Buyer “overseas”. He selected the slowest and cheapest shipping. I advised him that it would take 6-8 weeks. Long before delivery date he registered a complaint with PayPal (owned by eBay). Without consulting me PayPal confiscated my entire account (over $200). PayPal did not even wait for the delivery date or for a Tracer by Canada Post. My rating with eBay is 100% (not one negative report). The Buyer’s rating is 60% (2 out of 5 reports are negative).

So beware of PayPal and make sure to leave no money in your account. I learned too late to not trust them. My emails to them have been ignored. There is no fax number to reach them as their most rcent fax number was terminated. I wonder how many others have been ripped off like that?

My advise to everyone is to transfer your funds to your bank IMMEDIATELY following each sale on eBay. A good alternative to eBay is http://www.webidz.com/ where there is NO LISTING FEE but unfortunately they too use PayPal so once agin BEWARE.