Paypal limitation - Balance reserve? Anyone had this?
My paypal was limited last week and I received this email this morning...
"Based on a review of your account, we've decided that reserves will be applied as follows:
- Collateral Reserve: The collateral reserve amount of: £---- has been applied temporarily to your account. This amount will be eligible for review 90 days from the date of this email.
- Minimum Balance Reserve: In this case a minimum balance of 50% will be retained on all incoming transactions up to the amount of £5.300. The minimum balance reserve will be eligible 90 days from the date of this email."
Has anyone had this before? I just phoned them and asked what is going on and the man I spoke to didn't really give me any information but he said the 90 days is worse case scenario and that he is going to get the team to review it and get back to me by email. If they were just going to hold the money I wouldn't be too worried as its not as huge amount (still a lot to me though), but the fact they are going to hold 50% of all sales I make is a joke. All the money I make comes through paypal so they are going to be holding half of the money I make for 90 days!! What can I do?
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