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Big PayPal changes ahead: Frozen fund process to gain transparency

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posted on Jan, 22 2013 @ 01:41 AM
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First; out of the whole article, this is what I liked most.



He admits the current system has a “guilty until proven innocent bias to it,” and he acknowledges it's time for things to change.


It should be innocent until proven guilty. But, no.

I'm guilty, and I have no clue what for. It would be nice if you didn't have to go get an appeal just to see what the heck is wrong, or even try to fix it.

But something tells me this will be a waste with more lies to go along with it.



Top News
January 21, 2013
By: Stacy Carey

www.examiner.com...


Many customers have been frustrated over the years by PayPal's aggressive process in freezing funds. While the goal is to prevent fraud, the system also tends to put users in a tight spot when they can't access funds that are legitimately theirs. Now, the eBay-owned service is making changes to ensure more transparency.


Everyone with frozen funds, good luck because you'll never see it.

But hey, I am willing to give the benefit of the doubt.


edit on 22-1-2013 by Manhater because: (no reason given)




posted on Jan, 22 2013 @ 01:50 AM
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reply to post by Manhater
 


hmmm


could be an issue with all banks ... only because of a recent issue I had:


I 'directely deposited' money into one of my accounts and later that night, I logged in to transfer it to another one (same banking institution) ... anyway.. I log in and it says, the money is 'unavailable' OMG I ring the bank hotline at 11pm at night, waited 20 mins and then some, got BS explanations like:

"oh it was an 'electronic deposit' and is frozen until 3 am... OMG.. WT actual F???

I said to the customer sevice person on the phone..."no way... it was a cash direct deposit!!!

funds were 'gone' until the next day. OMG who the ef was doing wtf with my money????

not good at all!! AND there was nothing I could do about it.

sheesh



posted on Jan, 22 2013 @ 01:55 AM
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I got lucky.

My account hit 0 when they froze me out.

It happened right after I bought my gaming machine.

Totally irked me.

Especially, when I've never had a problem doing transactions on ebay.

And, I've been a member for well over 10 years.
edit on 22-1-2013 by Manhater because: (no reason given)



posted on Jan, 22 2013 @ 01:58 AM
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Don't use paypal.

Problem solved.



posted on Jan, 22 2013 @ 01:59 AM
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reply to post by litterbaux
 


yes well what do you suggest for the banking institutions?




posted on Jan, 22 2013 @ 02:44 AM
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I've successfully managed to avoid Paypal altogether. Unless they undergo a complete change in management from the top down, I would never in a million years use them, because of how poor their reputation is and how many horror stories I've heard. Legitimate customers lose their money all the time, for no apparent reason, and it's a huge struggle to get it back. It's like that South Park meme, "Aaaand it's gone."



posted on Jan, 22 2013 @ 02:54 AM
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Originally posted by Thurisaz
reply to post by litterbaux
 


yes well what do you suggest for the banking institutions?



Use more than just one. Have one for bills only and keep enough in it for 3 months of bills, averaged, so if there are any "freeze" issues you have a big enough window of time to resolve the issue.

If you have more money for investments/savings, keep that in yet another bank account. Preferably an institution known for it's investment savvy. If you have even more still, then it's really a good idea to break up your investments into different institutions.

Keep your "play" money in a Credit Union and/or a Paypal type account.

Bottom line, spread the wealth. It might seem like a hassle to have to keep track of 5 different bank accounts, but it's even more of a hassle to have all your money disappear overnight or get frozen indefinetly.




posted on Jan, 22 2013 @ 03:10 AM
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As one of the customers who protested by ending my account i am glad
to see things change, after i read about charities that had huge issues
with paypal over ridiculous things and were treated so poorly i could not
continue using them.



posted on Jan, 22 2013 @ 03:17 AM
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Paypal are the epitome of online crooks if you ask me. And they're legal. Sheesh.

I stopped using them years ago, when they tried to take money that was not there for an item I never received. Crooks.

As for banks.. ha.

I know they've got shonky practices. For a fact. I guess they don't expect people to check their accounts at 3am, but I've seen my account in debit of hundreds before, and have been shocked at this.

Only to find the next morning, balance returned.

They take your money and use it, then cover it back... no interest to you. And should I have a financial payment and it should be processed at that time, you can guess who'd foot the dishonour fee.

Ahh but then they would have to admit it.

They did it before with my credit card (debit card) too, and blamed master card for holding funds thinking something was odd. Sure, as soon as I made it clear I was complaining without end, they relented and paid MY money back to ME.

banks... if it weren't for the fact every man and his dog pays into an account only, no cash in hand, and that every sodding place needs some sort of bank to work, I'd take my money and stick it in a pillow case.

All $0.59 cents of it.


edit on 22-1-2013 by winofiend because: (no reason given)



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