Never rely on paypal if you run a business
We are in a business of internet television services and used paypal as a method of payment. We had a very successful ride with paypal, everyone loved it until one day it was limited and all money frozen for 180 days. Nothing would help to reason paypal and they decided to permanently limit our account. I searched for all our competitors who used paypal and used same technique to close their accounts as well as they seemed to have a competitive advantage. Guess what, it worked, all competitors’ accounts were suspended. PayPal is a bunch of idiots allowing any information coming from anybody to play a key role in suspending business account. So if you run a business NEVER rely on paypal, NEVER leave more than $200 on your PP account, diversify your merchant accounts with other payment methods such as moneybookers, 2checkout, merchantinc and others.
By the way, once your business account gets suspended, your personal account gets suspended as well, so its just a snowball of grief that can cause you sleepless nights and lots of stress.
Paypal limitations cost me my home and businessI don’t have the strength to go into it here and now so I’ll give you the short version. Basically I wanted to update my business name and things went very rotten from there. I’ve...
Frozen funds and limited account is putting me out of BusinessI was a 10+ year Paypal business account holder until last week, when my account was limited and funds frozen. I cannot get a specific answer as to ‘why’ – all I get are form...
Posted: October 23, 2012 at 3:01 pm
I have never sold with paypal, I used to use it for buying stuff but then they demanded all sort of information from me that I was not going to give them access to like my bank account, SSN and a copy of my DL. Now I rather not buy something then pay with paypal. There is nothing that I need that bad. I have since learned that you actually have better protection shopping using a credit card then with paypal.