PayPal reserve and holdbacks ruining my business
Hello I hope that someone of you can help me. I will try to be as brief as possible. I have a paypal account in Europe. I am an ebay seller in the US & UK and on the 11th of July (out of the blue) paypal announced that they are setting a $1000 reserve on my account, and a 20% rolling reserve for 60 days, for every sale that I do. The reason was that I was doing a lot of volume (June was $52.000 in volume of sales) and they needed to be protected! Right now they have $11.000 dollars on reserve and although eBay was very understanding and agreed to defer their payment for 3 months!!, now they are asking for their fees. I need to pay ebay $10.400 which is money that I already have on my paypal account (on reserve though) but they will not release it!! So they are actually letting my business close! They want to protect me (as if I believe it) and themselves by a fictitious and future problem, by creating a very real & present problem! Just in case you might have a health issue in the future, we will kill you now, in order to avoid the possibility of having to deal with that in the future!! Is there anyone here who had the same situation? Does anyone know what agencies I can contact in Europe to apply pressure? Does anyone know if there is an actual alternative to paypal that I could use? MerchantInc can accept cards and send them to a bank account.. (I don’t have one in the US)… Wonder if Payoneers’ bank account works? Anyway does anyone have any idea of how I can make paypal release my funds and what government agencies I can address in order to apply pressure to Paypal?
Posted: October 13, 2015 at 7:32 pm