PayPal closed my account and are holding my money
In this past month alone, I’ve done approximately $50,000 worth of sales with paypal. I recieved a letter stating that my account is being terminated. I have a balance of close to $1,900 in my account which they refuse to transfer to my checking account. I have never, ever had a problem with a client sale. Have never, ever had to issue a refund and yet I was shut down as high risk because of the size and volume of our transactions, or so I was told by:
Merchant Risk Management
480 862 7357
I was told my money will be mine again in approximately 180 days. Until then, Paypal will earn interest and use my funds to run their business. I have advised my customers to notify their credit card companies to stop payment on the sales in question after which I will process their sales through another company. Paypal told me that if I do so my account will be in negative balance. So what, they shut me down.
Posted: July 26, 2012 at 5:43 pm