The story of a small business and the Evil Paypal Empire.
Discussion
I like PayPal for buying as it’s so much easier than having to dig my bank card out and type in endless stings of numbers whenever I buy something, but the numerous stories I’ve read from a seller’s perspective mean I’ll never sell anything via eBay or any other platform that uses PayPal until it’s been subjected to significant reform.
I use Paypal on a high turnover store and it's been great - and convenient. I do worry sometimes about some stories I hear. As a customer though; I love it and often, won't complete purchases unless it is offered. I don't want to give my card details to every site I go to and if I don't have my card on me; I'll be damned if I remember all the digits...
Garage19 said:
If you email Paypal they send you generic email responses.
It seems the only way you can contact Paypal is by phone. This means you have no written record of your correspondence with them. I really would like to have a response about why they are holding onto my money in writing.
I will try the email address of the UK director and see if I get anything back from that.
The more you look into it on the internet the more other dodgy actions you find they have taken with peoples money. The thing is, they are by all intents and purposes a bank but some how they get away without having to comply with any of the UK financial regulation that any other financial service in the UK has to.
I think it is a case of big American corporation thinks they can do what ever they like. I bet they do not pay hardly any tax in the UK either.
Record all your calls to themIt seems the only way you can contact Paypal is by phone. This means you have no written record of your correspondence with them. I really would like to have a response about why they are holding onto my money in writing.
I will try the email address of the UK director and see if I get anything back from that.
The more you look into it on the internet the more other dodgy actions you find they have taken with peoples money. The thing is, they are by all intents and purposes a bank but some how they get away without having to comply with any of the UK financial regulation that any other financial service in the UK has to.
I think it is a case of big American corporation thinks they can do what ever they like. I bet they do not pay hardly any tax in the UK either.
Jockman said:
Never had a paypal account. Never been on ebay (prefer Amazon). Never been on Facebook or Twitter.
None of these would add any value to my life.
Ridiculous statement. I'm sure they would.None of these would add any value to my life.
I found a cheap but reliable and fast printer thanks to ebay, for instance. I now deal directly with them and pay via Paypal. Top quality work and half the price of my local printer.
A lot of my business comes from Facebook.
Twitter, I get to interact with fitness models.
Hoofy said:
Jockman said:
Hoofy said:
Ridiculous statement. I'm sure they would.
What value would they add?I use cashback credit cards and receive hundreds of £s in free money each year.
My company has a facebook account that I have no idea how to get into. All my end users are dead anyway (I make coffins)
The wife and 3 stepdaughters are in a group with me on WhatsApp and we converse regularly (even from Dubai)
I have no idea how to tweat and I've never been asked anything via twitter.
I run multiple financial accounts which interact with each other - many of which are not even in my name - so I am quite sophisticated digitally.
I'm happy as I am tbh
Jockman said:
I use Amazon for many purchases - last I looked it was 13x the size of ebay - I'm happy with what I get.
I use cashback credit cards and receive hundreds of £s in free money each year.
My company has a facebook account that I have no idea how to get into. All my end users are dead anyway (I make coffins)
The wife and 3 stepdaughters are in a group with me on WhatsApp and we converse regularly (even from Dubai)
I have no idea how to tweat and I've never been asked anything via twitter.
I run multiple financial accounts which interact with each other - many of which are not even in my name - so I am quite sophisticated digitally.
I'm happy as I am tbh
I am sure you are but you asked whether those companies would add value to your life - I think they would. It's up to you to explore it or not. I'm sure what you wrote is only a small snippet of your life as you currently enjoy it; at least some aspects of your life would be improved. You just have to sift through the sI use cashback credit cards and receive hundreds of £s in free money each year.
My company has a facebook account that I have no idea how to get into. All my end users are dead anyway (I make coffins)
The wife and 3 stepdaughters are in a group with me on WhatsApp and we converse regularly (even from Dubai)
I have no idea how to tweat and I've never been asked anything via twitter.
I run multiple financial accounts which interact with each other - many of which are not even in my name - so I am quite sophisticated digitally.
I'm happy as I am tbh
t that is often published on news media. Hoofy said:
I am sure you are but you asked whether those companies would add value to your life - I think they would. It's up to you to explore it or not. I'm sure what you wrote is only a small snippet of your life as you currently enjoy it; at least some aspects of your life would be improved. You just have to sift through the st that is often published on news media.
.... Darren, but perhaps some pointers for the future so thank you t that is often published on news media. Edit, I did ask you a question.
Edited by Jockman on Wednesday 18th May 16:42
I will never accept paypal for a payment ever again since they limited my account some years back.
Only use it linked to a card for purchases. Never put anything in 'my account'.
One of the worst companies to deal with ever and seemingly can take your money at will for whatever reason they like.
Only use it linked to a card for purchases. Never put anything in 'my account'.
One of the worst companies to deal with ever and seemingly can take your money at will for whatever reason they like.
Very interesting thread, we have just had a similar situation through ebay sales, fortunately we don't rely upon them for cashflow.
As previous people have mentioned Paypal are great for customers / buyers (annoyingly even myself on ebay etc) but completely dreadful for businesses particularly at getting funds released.
I think a lot of pressure had been put on them a while back from a money laundering point of view which has partly created the reason for the chain of events you have had along with many others.
My advice to anyone is look for an alternative payment gateway! **This is important read their terms properly** not just for transaction fees but also for how long it will be before funds are released to your bank. One provider we looked at wanted to hold funds 21! days before release can you imagine what that would do to a businesses cashflow! We even managed to negotiate one company down in time although we didn't use them in the end.
Scary scary stuff for a small business.
As previous people have mentioned Paypal are great for customers / buyers (annoyingly even myself on ebay etc) but completely dreadful for businesses particularly at getting funds released.
I think a lot of pressure had been put on them a while back from a money laundering point of view which has partly created the reason for the chain of events you have had along with many others.
My advice to anyone is look for an alternative payment gateway! **This is important read their terms properly** not just for transaction fees but also for how long it will be before funds are released to your bank. One provider we looked at wanted to hold funds 21! days before release can you imagine what that would do to a businesses cashflow! We even managed to negotiate one company down in time although we didn't use them in the end.
Scary scary stuff for a small business.
Dave_ST220 said:
Garage19 said:
So my warning to all you business owners that have to do business with paypal is always, always, always empty your accounts when funds appear.
IMO that is why you have been flagged, usually have small amounts transferred but waited for larger amounts? I've been with Pay Pal 14 years and had no issues (touch wood!). They did limit our account last week but that was resolved within 48 hours (we hadn't emailed PCI compliance as they hadn't sent the request to us). Don't get me wrong they are a ball ache to deal with at times but don't think other providers are automatically any better as they aren't in my experience. BTW, if you get Pay Pal Pro you could use their virtual terminal rather than World Pay so all sales go via the resulting in better fees. The downside is obviously you then have all of your eggs in the Pay Pal basket. It's a shame Google Checkout went out of the window as offering multiple payment gateways is never a bad thing. Try this email address :- europeanservices@paypal.com or business-support@paypal.co.ukThey worry they'll be stuck refunding a customer and as you withdraw fund from your account so quickly they won't be able to reclaim it from you.
The £2k is to give them a buffer to debit refunds from
To be fair to PayPal... I remember now that my fiancé had a dispute on a large transaction that a client she had, made against her. My partner was furious and she'd almost resigned herself to PayPal siding with the customer. But they actually did a thorough investigation and told the customer 'tough luck'. We were both shocked as it seems they side with the customer by default.
p1stonhead said:
I will never accept paypal for a payment ever again since they limited my account some years back.
Only use it linked to a card for purchases. Never put anything in 'my account'.
One of the worst companies to deal with ever and seemingly can take your money at will for whatever reason they like.
Absolutely this. I don't offer PayPal payments on my business as they aren't worth dealing with, Worldpay works just fine.Only use it linked to a card for purchases. Never put anything in 'my account'.
One of the worst companies to deal with ever and seemingly can take your money at will for whatever reason they like.
EBay And PayPal are utter s
te as a seller, either business or private. Dave_ST220 said:
Garage19 said:
So my warning to all you business owners that have to do business with paypal is always, always, always empty your accounts when funds appear.
IMO that is why you have been flagged, usually have small amounts transferred but waited for larger amounts? I've been with Pay Pal 14 years and had no issues (touch wood!). They did limit our account last week but that was resolved within 48 hours (we hadn't emailed PCI compliance as they hadn't sent the request to us). Don't get me wrong they are a ball ache to deal with at times but don't think other providers are automatically any better as they aren't in my experience. BTW, if you get Pay Pal Pro you could use their virtual terminal rather than World Pay so all sales go via the resulting in better fees. The downside is obviously you then have all of your eggs in the Pay Pal basket. It's a shame Google Checkout went out of the window as offering multiple payment gateways is never a bad thing. Try this email address :- europeanservices@paypal.com or business-support@paypal.co.ukIn your case it is a total pain in the ass and I feel for you but what is your choice? Other have mentioned on here they might reconsider using paypal or not do business at all; that is your choice but if you want to trade on ebay successfully you have no choice.
Lifes a b
hBeen there, done that unfortunately!
My company used to take in $250k+ a month on PayPal, not pure profit but gross revenue. We had all documentation etc, I had a dedicated account manager etc, then one day I got limited with $255,000 in the account. Told them it wasn't my money, and we needed to pay our suppliers... got nowhere at all with them. Suddenly our account manager didn't want to speak to us and I threatened to take action, got nowhere again but a permanent limitation that couldn't be lifted.
I ended up refunding our main supplier and receiving the payments via bank transfer to our business account. Understandably not possible for you if you're receiving multiple payments... Haven't touched PayPal since then, we were paying them thousands a month in mass payment fees and they still wouldn't budge.
It's just not worth it... our account was legitimate, real information, business is still running to this day with the same sort of turnover/profit.
My company used to take in $250k+ a month on PayPal, not pure profit but gross revenue. We had all documentation etc, I had a dedicated account manager etc, then one day I got limited with $255,000 in the account. Told them it wasn't my money, and we needed to pay our suppliers... got nowhere at all with them. Suddenly our account manager didn't want to speak to us and I threatened to take action, got nowhere again but a permanent limitation that couldn't be lifted.
I ended up refunding our main supplier and receiving the payments via bank transfer to our business account. Understandably not possible for you if you're receiving multiple payments... Haven't touched PayPal since then, we were paying them thousands a month in mass payment fees and they still wouldn't budge.
It's just not worth it... our account was legitimate, real information, business is still running to this day with the same sort of turnover/profit.
VISE said:
Been there, done that unfortunately!
My company used to take in $250k+ a month on PayPal, not pure profit but gross revenue. We had all documentation etc, I had a dedicated account manager etc, then one day I got limited with $255,000 in the account. Told them it wasn't my money, and we needed to pay our suppliers... got nowhere at all with them. Suddenly our account manager didn't want to speak to us and I threatened to take action, got nowhere again but a permanent limitation that couldn't be lifted.
I ended up refunding our main supplier and receiving the payments via bank transfer to our business account. Understandably not possible for you if you're receiving multiple payments... Haven't touched PayPal since then, we were paying them thousands a month in mass payment fees and they still wouldn't budge.
It's just not worth it... our account was legitimate, real information, business is still running to this day with the same sort of turnover/profit.
Bloody hell! Shocked would be an understatment. I take it you never found out why? I wonder if they check company acoMy company used to take in $250k+ a month on PayPal, not pure profit but gross revenue. We had all documentation etc, I had a dedicated account manager etc, then one day I got limited with $255,000 in the account. Told them it wasn't my money, and we needed to pay our suppliers... got nowhere at all with them. Suddenly our account manager didn't want to speak to us and I threatened to take action, got nowhere again but a permanent limitation that couldn't be lifted.
I ended up refunding our main supplier and receiving the payments via bank transfer to our business account. Understandably not possible for you if you're receiving multiple payments... Haven't touched PayPal since then, we were paying them thousands a month in mass payment fees and they still wouldn't budge.
It's just not worth it... our account was legitimate, real information, business is still running to this day with the same sort of turnover/profit.
s/credit ratings .Gassing Station | Business | Top of Page | What's New | My Stuff