posted on October 24, 2001 07:41:09 PM new
Hello everyone,
We have recently opened a paypal account. Before opening the account, we called their customer service and, being familiar with all procedures involved in taking credit card/online payments, asked MANY MANY questions about opening new account. I personally asked them to walk us through opening an account so that we do not run into any problems. At the end of the conversation with the rep I asked at least 3 times "If we follow the instructions you have given us, will we run into funds being frozen in Paypal?". The answer was "No, as long as you do what we discussed, this should not happen". And of course, 1 week later the account was restricted for additional verification. To start with, we were given various false and misleading information by their rep, such as "you can have all 3 accounts at the same time, personal, business and premier" or "the name on the bank does not have to match the name on the paypal account". Although I told the rep that their Terms of use aggreement states otherwise, I was told I did not read it correctly or misunderstood the writing. When the account was restricted, they asked for additional verification. All was immidiately faxed. Took them 5 days to review it. The account was then unrestricted, we received a confirmation email. 5 minutes later, the account was restricted again. We called their restrictions department, and spoke to Kathy. She said she will not tell us why it was restricted again, the restriction was transferred to Corporate office, we can not email the corporate office or call them, and she will not tell us why our account is restricted. I asked her "You are holding $12000 of my money and I do not have the right to know why?". The answer I received was "Just sit and wait until they get ahold of you, I don't know how long it will take. This is all I am going to tell you. I will not speak with you anymore, as I have nothing else to say. Goodbye". Then I heard a click. They are holding $12000 without providing a reason why, the rep I spoke with was absolutely rude, and all I can do is sit and wait and hope someone will contact me?
I have read there is a join lawsuit getting started in Chicago against Paypal, I am starting to think I should look into this (Clifford Horwitz, Esq., 312-372-8822, http://www.outofthedark.com/CorporateWars/PayPal/index.html). Has anyone else experienced similar problems? I would think if someone is holding this much money they would at least be obligated to give a detailed explanation as to why they are doing it, and do what is necessary to resolve the situation? Meanwhile I am sure Paypal is collecting interest on these funds (soon to be 2 weeks) and no one knows how much longer this will last.
posted on October 24, 2001 08:58:48 PM new
Does anyone have any contact information for higher ranking officials in Paypal, CEOs, directors, etc. Phone #, mailing address or email address?
posted on October 24, 2001 09:45:54 PM new
pcpartsohio,
In PayPal's IPO filing there was the address and contact phone number for the CEO-Peter what ever his name is. You can find it towards the end where the company was giving facts about him signing for a loan. Here are some phone numbers and an address.
PayPal, Inc.
1840 Embarcadero Rd
Palo Alto CA 94303
(402) 935-7733
(650) 251-1100
posted on October 24, 2001 09:57:36 PM new
Just so we can understand, you violated the written TOS because you believed that a voice on the phone was telling you that it would be ok?
posted on October 24, 2001 10:44:03 PM new
I agree with Logia: Those PayPal reps speak for PayPal. They cannot legally misrepresent their product or their service, even if their Terms of Service say otherwise. As for your case, understand that you will probably have to sue them to retrieve your money. They may simply never call you to discuss your problem.
posted on October 24, 2001 11:05:47 PM new
I think PayPal may file chapter 11, I heard PayPal lost lot of money! so they try to restrict as many accounts as possible to hold as more money as possible!
[ edited by cgigate on Oct 24, 2001 11:07 PM ]
posted on October 24, 2001 11:39:58 PM new
I do not think I violated anything, other then having a bank account with company name and Paypal account with my name, although I am the signer on the account (not a problem per conversation with PayPal rep). But they asked for the signature card which was provided. I wonder of PaypalDamon will reply to this thread. If I do not get the resolution to this problem, I plan to contact BBB, FTC, CA and OH attorney General, their local police department, FBI and however else I can possibly find to file a complaint with. If their reps provide false information (2 people were on the phone, me and my partner), then they freeze the account and provide no reason why, no explanation and no resolution to the problem, I think it is safe to consider it Internet fraud, no matter what kind of company it is or how big they are. ALL merchadise was shipped that people paid for, even if they think certain payment are "fradulent" there is no reason to hold all the money, but at this point it is just a guess since I do not know the reason. It is the same as me accepting someones payment, keeping it and not sending the product. With $12000 involved, I am sure a variety of Government agencies will get involved. Also, if anyone has a similar problem with a large sum of money involved, please let me know, I am sure the more people will file similar complaints together the more chance of success we have. If there are enough people, I would be willing as far as a joint lawsuit against Paypal, because this is simply rudiculous. It seems they are in need of money so they freeze peoples accounts so that they can use that money.
