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Paypal deserved it!
 

I am an avid reader of this brilliant forum. I setup a legitimate business account with paypal after talking to them prior about my business model. They said yes as long as it was verified. I took the pain and got it verified. Over the weekend three payments came and wham---they limit my account. So, I do the normal remove the limitations steps. And the moment I send them my business registration form--I get a email from jerk paypal accounts review telling me that account is closed so either wait 180 days or refund the payment. I ain't waiting 180 days--so I decided to refund the buyers. At the end of all the refunds---there is a negative balance in my account. This was because I had paypal automatically convert the USD to my currency. These slime balls deserve it! Though this is not a significant account (50 USD)--but still they deserve it. Paypal is nothing more than a bait and switch. I called them again and asked them why did they close my account when the first said yes...lame excuse that the initial verification is not complete...bla bla...paypal is good to scammers but not to honest people...

Beware that they will come after you for the negative balance with debt collectors. Obviously it is in your real name, so they will have the details to chase you, or they will take it from your bank account on the paypal account if you had one.

Paypal does this ALL the Time here in the U.S. and It is against the law for them to do so. When I run into this Problem Here, as long as it is NOT a Stealth Account I resend an up to date letter that I had Drafted by an Attorney a few years ago to their Legal Dept., Reminding them of the law, and the 3 times that I have done so it has yeilded Positive results.

They do not come after you with debt collectors in the UK. They simply access your credit report and find out all other bank accounts you own, then they limit your Paypal accounts when they have a nice healthy balance and transfer this balance to the negative ablance.

I have this right now.

Thanks but everything was stealth...the bank account has nil money in it and I closed it....plus I do not have any other paypal accounts....