posted on September 28, 2000 03:08:34 PM
If you have a business account and pay an
extra .6%, Paypal will sweep all your funds into your bank account daily. Is this correct? If they are in your bank account can Paypal pull the funds back out?
posted on September 28, 2000 06:07:06 PM
I'm amazed at finding a Customer Service phone # posted here for PayPal. On their website, they DEFINitely don't abide by the sacred rule that if you're going to have a commercial website, you should display a PHONE number (not just an e-mail contact) prominently at your site.
This whole turn of events with frozen accounts is very troubling to me, and reminds me hautingly of the problems that have occurred at eBay with sellers getting suspended because of ridiculous complaints from newbies who didn't bother to read the guidelines, etc.
If PayPal wants to put themselves in a position of being a great friend to business people on the internet, they'd better start acting more like a bank and less like a mere conduit!
posted on September 28, 2000 06:23:32 PM
Thanks for posting this thread. I accept PayPal as a seller but my auction dollars have been under $40.00.
I am just going to start listing items in the several hundred dollar range and just today was debating whether I should accept PayPal or require a Money Order. The items belong to my business partner and I do not want to take a loss as the entire cash amount would come out of my pocket.
posted on September 28, 2000 06:34:35 PM
Wow! Completely safe? Hmmm...
Yahoo PayDirect doesn't charge and doesn't do chargebacks at this time.
ExchangePath is new and so I can't really say for sure, but they have worked for me so far.
Bidpay is instant money orders and they seem rather strict about whether you can cancel those or not, but the fees are steep. They do accept international transactions though.
EnergyFlow is another one, but again, I am not sure about how completely safe it is.
I can tell you that even Money Orders are not completely safe. There are a LOT of them out there that are counterfeits. Sorry! About the only ones, according to one banker, that are safe are the Postal Money Orders.
I don't think anything is completely safe. But the above are fast.
posted on September 28, 2000 07:45:30 PM
Well, I heard back from PayPal this evening. Not bad...a 24 hour turn-around. Here is what I received:
"Dear XXXXXX,
We regret to inform you that you received funds from an account with reports of fraudulent credit card use.
The transaction under review is:
- $XX.XX 7/XX from XXXXX XXX [email protected]
To help in our investigation, we request that you send an email to [email protected] with the following information:
1. The item that was purchased, and the value of the item;
2. The name and address given to you by the buyer;
3. Whether or not you have shipped the purchase;
(If you have not yet sent the purchase, please do not proceed with the exchange.)
4. If shipped, the company used for shipping, date of shipment, and tracking number of the shipment;
5. Details of any other payments you sent or received that were related to the above transaction.
6. A phone number where you can be reached during the day and evening.
We would like to obtain as much information as possible about the above transaction, including any email correspondence between you and the buyer, in order to expedite this investigation. Solving fraudulent cases helps us continue to offer PayPal as a secure
and cost-effective payment service. Thank you for your cooperation and assistance.
Sincerely,
PayPal Account Review Department
PayPal -- A Service of X.com"
Pretty comprehensive, and explanatory. Since this auction ended over 2 1/2 months ago, I don't have the delivery confirmation, mailing address, or any of the email correspondence anymore. I usually go through every 2 to 3 months and clean out certain types of paperwork. However, I was able to pass on item and item number, selling price, ending date, shipping date and method of shipping, and that the name they gave me was familiar. However, the email they gave me was not. I checked back on this auction (it was still available surprisingly), and noticed that the winning bidder (with a different email) at the time bid and won a number of items in that short time frame, then disappeared. In fact, one seller commented in this bidders feedback that the item shipped came back as unforwardable.
It'll be interesting to see how this ends up!
Stay posted...
"Who's tending the bar? Sniping works up a thirst"
[ edited by koto1 on Sep 28, 2000 07:46 PM ]
posted on September 28, 2000 08:07:20 PMVeryModemYahoo Paydirect does not allow buyers to chargeback.
I don't think this issue is a chargeback dispute but a case of fraudulent funds being used to make a purchase. I don't know what PayDirect's policy is on fraudulent credit card use, etc. but I'm sure they have one.
So far I only know how two companies handle this, PayPal and BillPoint.
posted on September 28, 2000 08:33:06 PM
Lotsafuzz - The entire account is restricted. Yes, it would make more sense if the amount in question was just restricted, but no, I can't get at any of my money.
Hopefully, some kind of action will take place tomorrow. If not, I don't foresee anything getting cleared up until the beginning of the next work week.
"Who's tending the bar? Sniping works up a thirst"
posted on September 28, 2000 09:03:18 PM
I sure would like to see a logical explanation from PayPal. What right do they have restricting you from all of your money?
PaypalDamon... How about a straight answer on this one?
posted on September 29, 2000 10:35:35 PM
This is wild, and very unfair!
Are they actually putting a hold on your account for MORE than the amount of the suspect transaction? Since this is now ancient history, I wonder what took so darn long!
posted on September 30, 2000 12:27:19 AM
Barkrock -
Yes, in fact, my account balance is now twice what the amount in question is, and I can't get to it at all. In fact, the day before this all happened, I had requested to withdraw some $$ directly into my bank account. This transaction has also been put on hold. So actually, the amount being held "hostage" is approximately 3 times the amount of the alleged fraudulent transaction.
As I figured, no resolution today. So...probably nothing over the weekend. I think I'm going to give them a call on Monday.
"Who's tending the bar? Sniping works up a thirst"
posted on October 1, 2000 11:27:08 AM
Koto
This really stinks.
Without asking we can tell the dollar amount is under $20.00 yet they've held all your money coming in and going out (your withdrawl/transfer)
I don't understand the questions that they asked you though. #1 don't they already know what and how much was purchased?
#2. Vaild question although wouldn't they already know that also;
#3. Whether or not you have shipped the purchase--- I guess you might be a holder? but most of us ship asap when paypal says the moneys there.
4. If shipped, the company used for shipping, date of shipment, and tracking number of the shipment;
Does the PO with a .55 cent stamp on it acceptable.
Hope you get this resolved soon.
You can sweep your account daily but it doesn't do much good if they are holding the money. (and probably charging you each day too....
posted on October 1, 2000 05:13:29 PM
Hi Pandoras_Trinkets -
Yes, I ship as soon as I receive payment, so this item has been long gone for over 2 1/2 months. Unfortunately, having been that long, I don't have the mailing address and confirmation number anymore. But I did tell them the day it was shipped, approximately where, and that it was shipped USPS with DC. I guess they are trying to see if there is any pattern setting up, but this was the one and only time I had any business dealings with this individual. Actually, looking at his feedback, I'd imagine there's a few people going through the same thing as me because of him.
PayPal has got about $130 of my money held hostage now, so I'm definitely giving them a call Monday morning. I called this weekend, and their message states that their business hours are 4 am til 10 pm Pacific time, Mon through Fri.
"Who's tending the bar? Sniping works up a thirst"
posted on October 1, 2000 07:12:48 PM
Boy this scares me. I've used PayPal for quite a while and have been a big supporter, but if they freeze me account at the drop of a hat I'll drop them in a hurry.
posted on October 2, 2000 02:20:09 PM
Just wondering since it is Monday if you heard anything or if your account is still frozen? I have been watching this thread wondering how it will turn out.
posted on October 2, 2000 03:58:11 PM
Excuse me? There is something here I don't understand so please bear with me. If a buyer places a stolen credit card number with PayPal to open an account, shouldn't there be an automatic checking of that card number? If you go to a store and purchase something, they swipe your card through a machine. It automatically sends that card number someplace that says that number is either safe to accept or decline. Why isn't the PayPal system doing this? Am I missing something here?
posted on October 2, 2000 06:29:15 PM
I am also VERY concerned about the resolution of this problem. I must admit that I am a bit flabbergasted that Koto1 does not keep PERMANENT (well at least for the number of years required by IRS)records of every transaction. Sounds like asking for trouble if you ask me - ummm yes I do realize you didn't -Rosalinda
TAGnotes - daily email synopsis about the Online Auction Industry http://www.topica.com/lists/tagnotes
posted on October 2, 2000 07:05:09 PM
Hmm I wonder what Paypal would do if the IRS would come in and freeze all their funds and everyone that works their? See how they like it. It seems they let the October 1st must upgrade slip (for now they will be back with another scheme) because of all the uproar and bad press and this stuff doesn't help you think they would have enough sense to try to take care of it right away so the person it is happening to could have said oh they took care of it right away instead of getting more bad press. Really where did these guys go to Business School . . . ? It never ceases to amaze me . . .
posted on October 2, 2000 10:57:23 PM
mrgroup - I do keep records of my transactions...ranging from purchase price of items to Ebay printouts of my sales to receipts from the post office for shipping. However, I don't keep the mailing address of every buyer of my goods...that info stays with me until either I hear from them and they are happy, or over 2 months go by and I feel the transaction has been completed.
Well, for everyone who has been following this, here is what happened. I called PayPal Monday morning and talked with customer service. I went over the situation with them again, and expressed my concern that 1)all my moneys were being held "captive", so to speak, and 2)the situation was not being expedited as quickly as I would like. The agent I talked to was very understanding and helpful, and said that he would forward all the info to "[email protected]". Evidently, email/messages from customer service get immediate attention, as opposed to email from us in the field.
By Monday late afternoon the restriction on my account was lifted (and I immediately withdrew my $$ ). I then received an email basically telling me that if my account had been verified, all this would have been resolved quicker and easier. Well, maybe. But I don't know about that. I'm just glad that this round is over.
So, what will I do now? First, I'm not going to actively push and advertise PayPal. I'll still accept payments through them, but only if the bidders ask. Second, I guess I'll have to hold onto bidders' personal info just a little bit longer.
Thanks to all who contributed to this thread, and for all your info and concern. Hopefully, this thread provided some needed info for everyone who may find themselves in the same unfortunate situation!
"Who's tending the bar? Sniping works up a thirst"
[ edited by koto1 on Oct 2, 2000 10:58 PM ]
posted on October 2, 2000 11:07:09 PM"So, what will I do now? First, I'm not going to actively push and advertise PayPal. I'll still accept payments through them, but only if the bidders ask. Second, I guess I'll have to hold onto bidders' personal info just a little bit longer."
Glad things finally got cleared up for you. One question. In retrospect, given the choice between having your account restricted for the time it took to investigate it or taking the loss on the funds in question, which would you choose?
-Rosalinda