I refused to disclose my annual income to PAYPAL and they froze my funds !

reply to post by tauristercus


Paypal is a bank, do not deal with banks.
Bank is another word for crook, thief, liar.
I have no bank accounts, I also keep 100 percent of my money when I cannot "overdraft".
Dump all banks and credit unions as soon as you can, I recieve and spend MY money when I want to.

Those pieces of crap ! I will spread this far and wide. I never use them for anything. I pay the extra money for the Visa net spend. Now days it cost you money to get your money cost you money to deposit money and spend your money The whole damn system has gone insane.

You are nothing but a slave.

Originally posted by g146541
reply to post by tauristercus

 

Paypal is a bank, do not deal with banks.
Bank is another word for crook, thief, liar.
I have no bank accounts, I also keep 100 percent of my money when I cannot "overdraft".
Dump all banks and credit unions as soon as you can, I recieve and spend MY money when I want to.

That's right people ask for my bank account information. I tell them the only use I would ever have for a bank ?

Is to rob one. Legal rip offs.it sucks. I hate banks hell I even hate the whole monatary system.

Here's how I feel about the monatary system.
In case you're interested.

Originally posted by g146541
reply to post by tauristercus

 

Paypal is a bank, do not deal with banks.
Bank is another word for crook, thief, liar.
I have no bank accounts, I also keep 100 percent of my money when I cannot "overdraft".
Dump all banks and credit unions as soon as you can, I recieve and spend MY money when I want to.

Paypal is NOT a bank. Please remember this.

As I understand it, Paypal is owned by eBay.

Years ago I got sucked by eBay into opening a Paypal account. All was fine with the money coming in, but when I wan'ted to remove it. I couldn't . Finally I outfoxed them and spent the money on eBay, and never used Paypal again.

My advice is to boycott both Paypal and eBay.

Originally posted by coop039

Originally posted by g146541
reply to post by tauristercus

 

Paypal is a bank, do not deal with banks.
Bank is another word for crook, thief, liar.
I have no bank accounts, I also keep 100 percent of my money when I cannot "overdraft".
Dump all banks and credit unions as soon as you can, I recieve and spend MY money when I want to.

Paypal is NOT a bank. Please remember this.

How do you figure?
They handle transactions for a price and can legally steal your money as well.
This sounds like a bank to me.
Of course, they do not loan money but it seems banks do not either nowadays.
Paypal is a bank, please remember this.

reply to post by g146541


PayPal does loan money. They offer their own credit cards................

Originally posted by rayuki
so from reading the PayPal letter they are basically accusing of you of being a scammer.

you had previous PayPal accounts that you used to scam people, and then did a legitimate trade, opened a new account and thought you could get away with it? lol

talk about pwned.

no sympathy from me here, you get what you deserve.

it clearly states you have multiple accounts yet you state this was your first one?

also judging from your post you went fair off at the staff each time you called, maybe learn that yelling at people over the phone gets you nowhere. be stern, but civilized in your tone and you will get alot further then just yelling at people.

im amazed so many people just skipped straight over the paypal letter and havn't commented on it.

yes paypal can be a PITA, but in this case it seems pretty clear cut and the OP is clearly lying since he says he has no other accounts and this was his first, yet paypal clearly have evidence otherwise or they wouldn't have shut this account down.

the whole thing just wreaks of BS. why would they say you have previous accounts if you dont? in the second letter they sent you it implicates you have outstanding refund requests on those as well so in essence you have scammed people before and now been caught out in an honest transaction, karma much?

edit on 17-5-2012 by rayuki because: (no reason given)

edit on 17-5-2012 by rayuki because: (no reason given)

If this were true... then Why the pluck would he be posting here?????

You're obviously one of those internet bullies just talking crap. Could it ever be an issue that we was a victim of identity theft via paypal? Someone else opened a paypal account in his name previously?

A little secret... those that try to fight against the issues usually aren't the ones that were guilty. Coast Guard raids boats in the search of drugs... literally tearing up some boats. Even though they didn't find drugs this time, they know who the drug pushers actually are because those that are not will complain and file a claim to have their boat repaired. Those who have not filed claims, they keep an eye out for.

This is most troubling news. Star for you sir.

reply to post by randyvs


Charge you money to deposit, charge you money for your money to sit there, charge you money if you don't have enough money, charge you money to recieve your money, all the while making a bunch more money off the interest on your money. I don't understand why people take it....

Originally posted by g146541

Originally posted by coop039

Originally posted by g146541
reply to post by tauristercus

 

Paypal is a bank, do not deal with banks.
Bank is another word for crook, thief, liar.
I have no bank accounts, I also keep 100 percent of my money when I cannot "overdraft".
Dump all banks and credit unions as soon as you can, I recieve and spend MY money when I want to.

Paypal is NOT a bank. Please remember this.

How do you figure?
They handle transactions for a price and can legally steal your money as well.
This sounds like a bank to me.
Of course, they do not loan money but it seems banks do not either nowadays.
Paypal is a bank, please remember this.

They are not officially a bank. They do not have to follow any international banking guidelines, for the most part.

From wiki:
Peter Thiel, the founder of PayPal, has stated that PayPal is not a bank because it does not engage in fractional-reserve banking.[52] Rather, PayPal's funds that have not been disbursed are kept in commercial interest-bearing checking accounts.[53]

In the United States, PayPal is licensed as a money transmitter on a state-by-state basis.[54] PayPal is not classified as a bank in the United States, though the company is subject to some of the rules and regulations governing the financial industry including Regulation E consumer protections and the USA PATRIOT Act.[55]

In 2007, PayPal Europe was granted a European Union banking license, and is regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF).[56] [2] [57]

reply to post by karen61057

Only thing I had to do was give them my phone number, they called me like 10 minutes later, asked my name, and that was that. It was at least 6 years ago that I did that, but the account is still active, and I have never had to answer any personal questioniares asking about anything. If they said that I had to, I would tell them to shove it up their..... Well you know, close the account, rather than give them any info. Never even had to link it to a bank account.

reply to post by bigyin

If I could find another way to do transactions I would drop paypal.

Ahhhhhh, herein lies the rub!

VISA, MC, AMEX, Discover, and the rest of the credit card companies have been "double-dipping" (IMO) for longer than PayPal has been in existence. In order to accept credit cards, a business owner must fill out a credit application more intrusive and tighter scrutinized than any individual would fill out for anything. Then if approved, they pay the issuing card company a percentage of their credit card sales, monthly fees for keeping the account open, and more fees for use of the equipment. This is not to receive credit; this is to accept payment using the cards!

The excuse is that there is a certain amount of credit involved that stems from the buyer protection plans they include with the cards. If a customer buys something from a seller using a credit card, and the purchase turns out to be less than satisfactory, the credit card company guarantees a refund... and in order to do that, they pull the money directly from the buyers merchant account. Essentially, the credit card company sets itself up as the seller's financial supervisor. Now, should there not be enough future card sells to cover those repayments, the credit card company is now extending credit to the seller.

I tried at one point to get a merchant account for my old design firm, but the costs were simply too high. I even thought about charging a card fee to accept credit cards and was quickly told that was against the terms of the agreement and the agreement would be terminated if I did and I would be financially penalized.

One thing I have learned is that anyone who threatens my money will eventually take my money. So I declined. I never accepted credit cards.

Society has come to rely on them, however. Internet transactions are almost impossible without credit card acceptance. Most businesses today could not maintain sales without accepting credit cards. So we are all squeezed into this corner... if you wanna make money, you have to deal with a credit card company. If you wanna spend money, you have do deal with a credit card company. In the process, these companies charge for accepting the card, for using the card, for using equipment to accept the card, for the privilege of accepting the card, for interest on balances, for having the card, and fees for whatever they can dream up next.

Enter PayPal. The convenience of accepting credit cards (or a reasonable facsimile thereof) for people who don't want or can't get a merchant account. And they're the only game in town. Use them, or lose out.

I'll lose out.

TheRedneck

yeah i have always had problems with Pay Pal, they wanted me to disclose my banking information, send them a full bank statement and a copy of an official id. Of course I said you can go and f***** yourselves!!!

And well my account was completely suspended just after i did a donation to Wikileaks.

I have paypal they are a pupet of us government to get all your detailed data

Originally posted by SilentKillah

Originally posted by rayuki
so from reading the PayPal letter they are basically accusing of you of being a scammer.

you had previous PayPal accounts that you used to scam people, and then did a legitimate trade, opened a new account and thought you could get away with it? lol

talk about pwned.

no sympathy from me here, you get what you deserve.

it clearly states you have multiple accounts yet you state this was your first one?

also judging from your post you went fair off at the staff each time you called, maybe learn that yelling at people over the phone gets you nowhere. be stern, but civilized in your tone and you will get alot further then just yelling at people.

im amazed so many people just skipped straight over the paypal letter and havn't commented on it.

yes paypal can be a PITA, but in this case it seems pretty clear cut and the OP is clearly lying since he says he has no other accounts and this was his first, yet paypal clearly have evidence otherwise or they wouldn't have shut this account down.

the whole thing just wreaks of BS. why would they say you have previous accounts if you dont? in the second letter they sent you it implicates you have outstanding refund requests on those as well so in essence you have scammed people before and now been caught out in an honest transaction, karma much?

edit on 17-5-2012 by rayuki because: (no reason given)

edit on 17-5-2012 by rayuki because: (no reason given)

If this were true... then Why the pluck would he be posting here?????

You're obviously one of those internet bullies just talking crap. Could it ever be an issue that we was a victim of identity theft via paypal? Someone else opened a paypal account in his name previously?

The OP doesn't deserve anyone's sympathy. He did get what he deserved. I read his whole post. He broke Paypal's TOS.
Before you sell something through paypal. You need to read their TOS. He has no one to blame but himself.

I can't believe so many people are supporting the OP. Talk about ignorance....

I've used PP and eBay for years with very, very few problems. 95% of issues people have occur because they don't know how the game is played. NEVER link your main bank account to your PP account. NEVER! Open a separate bank acct to 'link' with your PP acct, and keep a small balance in it. You almost HAVE to link a bank account to your PP acct, because by linking a bank account, you become "trusted" or "verified".
If you're going to buy anything 'expensive' (over $100), USE A CREDIT CARD! That way, if the seller scams you, you can file a chargeback with your credit card company.

If you sell stuff on eBay, PP will often hold your money for up to 21 days. That sucks, but they'll do it!
I had a serious issue once where I called PP customer service and got the biggest idiot alive. I called back later that night and got someone with a brain who solved my problem in 30 seconds! Your experiences will vary dramatically from one service person to the next. It can take hours, sometimes days to resolve problems.

OP: Your letter from PP explained to you that you had multiple PP accts. IF YOU OPEN MULTIPLE ACCTS, THEY WILL SHUT YOU DOWN AND BAN YOU!
You are allowed one personal acct and one business acct. It's stated in their terms of service.

reply to post by ColeYounger


I agree. However, I have never had pp hold my money more then 7 days, and that was a few years back and the person paid pp with a check so they waited for it to clear. I never ship til my money is out of my pp account.

reply to post by coop039


PP has changed their policies because of the number of scammers out there. If you sell an item, receive payment, and then withdraw the money from your PP acct, (before shipping the item) PP will often reverse your withdrawl. (Which they can legally do)

They will NOT give you your funds until you ship the buyer the item, the buyer has received the item, and the buyer is satisfied with the item. Trust me.... Even if you've had an account for some time, they'll still do it.

Try telling them "I'm not shipping the item till I get paid." They will refund the buyer their money instantly, and you'll get a "frowning face" on your PP acct.

reply to post by coop039


Like you said in your post,

In 2007, PayPal Europe was granted a European Union banking license, and is regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF).[56] [2] [57]

If you are gonna roll out a rulebook and get technical I guess I will too.
Proof is in your own words.
Paypal is a bank. crooks, thieves, Etc.

Originally posted by ColeYounger
reply to post by coop039

 

PP has changed their policies because of the number of scammers out there. If you sell an item, receive payment, and then withdraw the money from your PP acct, (before shipping the item) PP will often reverse your withdrawl. (Which they can legally do)

They will NOT give you your funds until you ship the buyer the item, the buyer has received the item, and the buyer is satisfied with the item. Trust me.... Even if you've had an account for some time, they'll still do it.

Try telling them "I'm not shipping the item till I get paid." They will refund the buyer their money instantly, and you'll get a "frowning face" on your PP acct.

edit on 17-5-2012 by ColeYounger because: Adding this footnote: Apologies for straying from the OP topic...I'm trying to educate people on how PPeBay works.

I just sold an item last week, got paid, withdrew the money and shipped the item. I never say "im not shipping til i withdraw my my money."