Paypal account suspended with 55k inside and 180 days hold

[zamzam]

Ok, folks although I have managed to keep this in for a while now its time to release some heart breaking news! A recent Paypal stealth account of mine was limited which was talking over 80% of my business profit. The account had been running for 5+ months before it was hit with the 180 days hold. (55k currently in the blocked account)

Supplier invoices, my ID, business info etc. requested all of which was sent to them the following day. Few days later hit with the risk email from Paypal saying they would be parting ways and would review my account after 30 days but the money could be on hold for upto 180 days

Between this time I tried everything from seeking legal advice to writing letters to eBay and Paypal head offices. The only response was from the email to escalations team who said they have reviewed the account and there decision stands. And to contact them after 30 days to have all or partial funds released

Its now been 4 days over the 30 days they asked and I was waiting for them to follow up but they haven't. So sent email through yesterday asking whats going on?? Still waiting to hear back

I would really appreciate if anyone has been in a similar boat to shed some light on this? Will they release my funds soon or play the hard way of 180 days!!!

[Ebayorbust]

Ouch, sorry to hear that.

You might want to revise your expectations of stealth accounts and indeed using PayPal in general. To leave £55k in a stealth account is crazy.

You should think twice about rocking the boat on this one. It's a stealth account. If you kick off at them enough you may never see that money again. Tread very carefully.

Good luck.

[suspendedfoe]

your first mistake is you left that much money. PayPal has become so strict with even a grand and you leave that insane amount? even later getting that much at once as a deposit to your bank account or even check seems a little scary. which bank is going to accept a booming 55k deposit after 180 days!

Good Luck with everything but i really have no experience with such a big amount, the only thing i can tell you is to think your steps here.

[Callidus]

YUCK! Leaving that much money in PayPal is horrific, was only going to end up one way.

Who did you seek for legal advice and what did they say?

Pretty much everyone's been in the same boat, but not for that kind of money. They may stagger the release of your money or could play hardball making you wait the full 180 days.

[jeffweico]

NEVER leave that much in PayPal. If you are going to do volume like that, you really need to go the route of multiple accounts. First, it helps to keep your accounts alive by staying under the radar AND is you have 10 accounts and eBay closes one, you still have 90% of your business.

The way you are doing it now is extremely dangerous to your financial health.

[GreenBean]

Triple ouch. I feel sick to read this.

BUT here is some advice not just for you but others.

Never have large amounts held in paypal. Keep control of your own monies.

If you take legal advice, then instruct them to make contact. You are not going to be respected by paypal staff and will be treated like a piece of dirt.

Avoid getting into those types of mind games with those that have hold of your funds.
Patience is your needed approach.

When you start again, make sure to never let funds grow to high levels. paypal may snatch them.
Sighs. I am so darn sorry you are caught in this. I wish you well for recovering your funds.

[LoopHole]

Blinked twice to see if i read that right. That is a huge chunk of money. Which i am guessing is not all pure profit?

If i were you i wouldn't wait the 4 days to email. In fact i wouldn't even email, I would call and ask to speak to a supervisor or someone higher up to get this sorted out immediately.

Do you have any leads on why you think you were suspended? Also, if i may ask the account only was 5 months old and had a pretty chunk of change inside. Did you withdraw money at all from that account or use any money from the account before it was hit?

[slokor]

You must be sick of hearing this but that is an absurd amount of money to be leaving in a stealth paypal account. Next time spread your business across multiple accounts.
As for the current situation - not much you can do about it other than wait or call in. You will more than likely be waiting the full 180 days. Just hope they dont make you jump through hoops after that time period has elapsed because it IS something they can do. If they really want to they can hold on to those funds indefinitely until you prove your identity and theres not much you can do about it...

[Bunneh]

The funds wont get reviewed/released after the first 30 days, it starts from 60 normally.

[Haidukken]

Hey man... HEY MAN! £55k?

I don't leave more than £150 on my account and even then I don't sleep well!

Hang in there and just know that there is no shame in crying. I would.

[usaamah426]

I'd feel physically sick for hours on end if this was me :(

[rsot]

Wow OP, very rough to hear. GreenBean gave you good advice.

You do need multiple accounts going for this kind of operation.

As for your current account, you have e-mailed them so just wait...PP isn't known for quick response. Most of my experiences (although US, Canada primarily, I do have UK operations but none limited so far) have been waiting out PP 180 days for release but never this crazy amount. Worst was when I joined this forum years ago - about 12k stuck for 180 days.

[Theno1mrb]

Seriously people do you believe this guy? Dude if you can afford to leave 55k sitting in paypal you must be minted!

You say your account is just five months old which means you were taking roughly 10k plus a month on a new stealth account which if you purchased it from here you did not listen to the info you would have been given about taking it slow to start with?
If you really had that sort of dough in paypal you must have been doing something naughty selling ⊗⊗⊗⊗ gear or something and was keeping it there in case of charge backs or refund requests as I'm sure there is more to this than what your saying?

Whats your ebay id so we can see for ourselves your feedback and so on, You sure it was just not 5.55 which got held?

Sorry but I find this hard to believe don't you just think about it for a second??

[revenge]

Next time get a savings account.

This experience will make you stronger.

[zamzam]

Thank you for all your replies guys, however "Theno1mrb" do you really think I would want to share news like this if it wasn't true. Come on grow up will you, you seriously don't have much experience personally therefore your comments are all a load of s***

It doesn't make a difference what items I was selling and believe me you are the last person I would want to even disclose that sort of business information to. However everything was legit and I had invoices etc. to proof authenticity aswell as proof of ownership!

Finally I have now decided to sit out the 180 days hold and if all goes well this balance should be with me in no time...

[wired]

Trying to withdraw 55K or even quick multiple deposits amounting to that is going to flag up alarm bells everywhere from PAyPal to your bank and potentially the HMRC,but its its all legit, taxes paid, authentic goods, then you will be fine - but how did you afford stock while all your capital was in PAyPAl - HMRC gonna be uber interested in that.

Im not going to tell you how crazy you where leaving all that in there - because I did the same and had £12K locked away - it did all get released after 60 then 180 days on a rolling withdrawal...so fingers crossed for you, but they are going to require some severely good ID for that account I would imagine

[GreenBean]

Originally Posted by Theno1mrb

Whats your ebay id so we can see for ourselves your feedback and so on, You sure it was just not 5.55 which got held?

FYI, ebay IDs are kept private to stop oddballs creating problems.

Try not to assume either.... It backfires.

[zamzam]

***quick update***

funds have finally been released 180 days after initial hold!!!

Ps. Thank you everyone who commented...

[PeHe oT PecToPaHTa]

The problem was not the wait (180) but with the business eB and PP acc. When no problem on eB, with a perm. lock on the PP you can't make any more money with this couples. But can when created new ones of course.

[Play]

Nice to hear the good news. Now go and put the kettle on, you deserve a treat.

[jayne dunn]

Op, How did you live from Nov-2015 to Apr-2016 when your 55k stuck with paypal? Can you share with me? Thank you