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  #1  
Old 09-13-2008
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Default Paypal auto sweep (automatic withdraws)

i found this article, anybody know anything about this?


Post by former PayPal employee #2
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As an ex-employee of paypal I understand the frustration this company has put you through. Most of the employees who knew what they were doing have left the company because of their practices. I will check these forums when I can and assist people including giving specific complete names, work numbers, and email addresses of people to contact. For years PayPal has told their employees not to give out their last names. This is done simply to make it more difficult for you to communicate properly with the company and to make it more difficult for you to seek restitution against an individual.

The company does not make decisions on your accounts. All decisions are made by one person on the Omaha fraud team. The decision to lift the limited access on your account comes from one person in resolution services. If someone on the fraud team makes a quote "no appeals" you are done. The resolution services team will not even try to lift the limited access on your account but will continue to tell you that you need to fax in documentation.

If you already have a limited access account and want to continue to use PayPal, although I don't know why, you need to clear all of your cookies and cache and change your IP. Do not use anonymizer or other public anonymous IP's since they have a team that just reviews those logins. Your best bet is to use AOL dial up. Also all bank accounts on your account will be inactive. If you add them to your new account it immediately will be flagged and shortly will also have a limited access. Contact your bank if your account is placed on limited access and report your cards and bank accounts as lost stolen. This does 2 things. First, PayPal will not be able to debit funds from your bank account to get back any recent ach transactions. They also may attempt to debit your account if your PayPal accounts fall negative. Second, this allows you to continue banking at the same location but have a new debit card and bank account numbers.

The fraud team does use some tools that show a percentage of like information on 2 or more accounts. For instance if you have the same name one 2 accounts with the same address they will find your other account. Make certain that you use a new address, even a po box works. If you have a PO box try to get one with a different zip code, state and city. The tools they use compare the following, name, social security number, address, bank accounts, credit cards, auction id's, bank routing numbers. These also include things you attempted to add but were unsuccessful. Also if you believe you removed a bank, address, or credit card from your first account you are wrong. Members of the fraud team still see that information and will use it to link your other accounts.

The other advice I have for everyone who uses PayPal is to get your money out as soon as possible. If you are going to continue to use PayPal call them at the number above and request to have a feature called Auto Sweep turned on. This is a feature that they do not advertise but is available. This takes all the money in your account at the end of the day and automatically withdrawals it to your bank account. You need to give them your Social Security Number and also lift your withdrawal limit before they will allow this. When you call, if the rep does not know what you are talking about ask them to transfer you to a professional or look in the knowledge base under auto sweep.

Another FYI do not withdrawal more than $2500.00 in a 24 hour period or over a weekend. You may hit the ques and invite someone to place a limited access on your account. If you withdrawal more than $5000.00 in a 24 period you will also hit a que and they will look at your account. There are also another 50-100 ques that can flag your account. I will not go into detail since they are in place to protect consumers and actually work.

If any of you have had problems with a single employee please post their name and what department they are in and I will respond with their full name and phone number if know them. If you have to contact a person directly at PayPal most employees email addresses are their first initial last name @paypal.com.

One other thing, when you try to send a payment via credit card and you are not given that option it is because of a thing called the risk model. Usually it is a high risk transaction and you or the seller have entered some type of fraud que.

I hope this information helps each and every one of you.
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Old 09-13-2008
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Interesting info, but most of it is covered in the ebook and on the forums, as well.

Interesting info about the limiting ques - dollar amounts.
  #3  
Old 09-13-2008
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Good stuff, I like being validated.
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Old 09-20-2008
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has anybody ever used this paypal auto sweep feature in which they automatically withdraw all your funds to you bank account at the end of the day?
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Old 09-21-2008
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Excellent information. Thank you
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Old 09-22-2008
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Still can't find any info on this autosweep feature.
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Old 09-22-2008
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C'mon!
5 seconds with Google and I got this: Paypal auto sweep

I just read this little bit of information (regarding using the auto sweep):

Quote:
...
One of my golden rules is NEVER NEVER ship an item out until those funds are physically in your bank account. You are not paid until those funds are in your bank account. You do not want to be placed in a situation where PayPal steals your money from a chargeback or some other reason and be in a position where your out the money and the product.

Once you get your money into your physical hands, you then print the shipping label out. You might want to look into other services, because why would you want to be logged into your PayPal account 24/7. Take a look at Welcome to U-PIC for insurance for your items, they are cheap and pay fast. And look at Endicia - Print Postage Online! they integrated UPIC with their system.

My advise is stay out of PayPal as long as you can for one purpose to collect money as a seller and to pay as a buyer using your credit card and bank account only to pay for items.
and this one a couple posts down:

Quote:
I am getting a lot of emails from people on the other site about them (sellers) shipping out items to buyers after the buyers paid them via Paypal -- and they PayPal freezes their accounts with the money still inside or the buyer initiates a chargeback and the buyer looses his merchandise and money.

For you sellers out there that can still use PayPal -- Change your sales policy. Call PayPal and ask them to turn on the Auto Sweep Feature. It's free and it deposits all the money received from your PayPal account into your bank account at the end of each business day. Tell your buyers that you are not paid until the money is in your account.

If somebody pays for something on Monday via PayPal, wait for the Auto Sweep feature to deposit your funds into your account at the end of the day. When the transfer is complete (you must confirm it), THEN SHIP YOUR MERCHANDISE.

The Auto Sweep feature is not part of PayPal's fraud que -- and this will help reduce the chances that your account will be limited because of "suspicious withdrawals."

This simple change in your selling policy will elimiate much of the fraud that you sellers are dealing with! If PayPal ends up limiting your account, it will not matter -- you have the money already.
PayPal's Auto Sweep Feature -- Page 1

I can't believe this hasn't been discussed here, before! These posts are over a year old.

BTW: The quote in the original post, above, can be found here (at bottom of page): paypal phone # hard to fine? -- Page 4

The phone number alluded to in the first post, above, is (post dated 10-22-2003):
Quote:
First PayPal's customer service is located in Omaha Nebraska not Nevada. Second if you look up the number they will only supply you the local number for Nebraska. Call 1-888-221-1161. This way you don't have to pay a dime.

Last edited by Quasi_Mojo; 09-22-2008 at 01:34 PM.
  #8  
Old 09-22-2008
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And, where is the "official" news about autosweep?
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Old 09-22-2008
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*sigh*

Google: siteaypal.com auto sweep
(damn emoticons!)

You can see that they don't advertise it very much.

Last edited by Quasi_Mojo; 09-22-2008 at 01:43 PM.
  #10  
Old 09-22-2008
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They do like to keep it hush hush don't they. How dare we take away the interest they're making on our money...
  #11  
Old 09-22-2008
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In fact, it's mentioned only once in the help files (UK anyway). All it says is a small paragraph regarding why auto sweep may have been turned off.
  #12  
Old 09-26-2008
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I just found these instructions (post dated 05-25-2007):

Quote:
Auto-Sweep is an optional feature that enables you to have the funds in your Business or Premier account automatically transferred to an external U.S. bank account on a nightly basis. The funds will post to your bank account in 3-4 business days. To have the Auto-Sweep feature activated, please contact our Customer Service Department.

To enable Auto-Sweep once activated, please follow these steps:

1. Log in to your account at https://www.paypal.com
2. Click the "Profile" tab.
3. Click "Auto-Sweep" in the "Financial Information" column. (you will probably have to call to have this enabled - see posts above)
4. Click "Edit."
A bank account must be added and confirmed
Your withdrawal limit must be lifted
5. To enable Auto-Sweep, select "Yes" under the question "Would you like to enable Auto-Sweep?"
6. Select the bank account.
7. Click "Save."

When you add funds to your account, the Auto-Sweep feature will automatically be disabled. This is to ensure that the funds are not swept back out to a bank account. You can enable the functionality again at any time.

Please note, a member who is enrolled in the Money Market Fund and has their Auto-Sweep feature turned on will have the funds swept to their bank account before the Money Market Rate is calculated. Also, if a member has a PayPal Debit Card, there will not be a cash balance in their PayPal account for use with the debit card.

You must have a Verified Business or Premier account in order to be eligible for Auto Sweep.
Re: It is called Auto-Sweep - Website Payments Pro (US) - PayPal Developer Community

Last edited by Quasi_Mojo; 09-26-2008 at 04:17 PM.
  #13  
Old 09-29-2008
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I'd like to question the validity of that statement by ex-employee. Like ebay, paypal makes you sign a clause that says they can sue you and kill your family if you ever disclose such information. Therefore I doubt the truth.
  #14  
Old 09-29-2008
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That may be somewhat true, but the question, as in all legal matters, is will they?
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  #15  
Old 09-30-2008
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An ex-ebay employee would have to give the information out anonymously for their protection and that then makes the information unknown as if it is unreliable.
  #16  
Old 09-30-2008
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I agree mostly it is trial and error as well as common sense. After i pass the initial limitation my account can withdraw thousands at once no problem. Also i noticed they havent been asking for documents recently i dont know if thats just the luck of the draw or what. But it seems like they are caring more about you shipping the item and the buyer getting it asap than who you are. If you make a paypal account, and you receive $5000 today and then try to withdraw it its not going to fly.
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