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- PayPal Talk
( https://www.aspkin.com/forums/paypal-talk/)
bmwsouthside | 08-20-2010 08:23 PM | An actual letter from paypal about holds! I apologize for any difficulty you have encountered with PayPal. We
value your business, and want to do everything possible to resolve your complaint. I have reviewed your inquiry to the Division of Banking in Colorado. Please allow me to offer further explanation.
A review of your Account registered with the email address
****sales@mail.com, shows PayPal delayed funds settlement, known as Payment Holds” on July 24, 2010. This is a common practice in the payments industry. The logic behind such Holds is to reduce the probability of an Account being charged off for failure to resolve a negative Balance.
When a buyer is dissatisfied; it can result in a dispute or a
Chargeback. When sellers don’t have the funds available to cover
disputes and Chargebacks made to their accounts, the associated cost is significant. Holding funds also helps ensure that funds are available if needed for refunding a buyer. Managing this cost is our responsibility – it’s also a benefit to sellers because it enables PayPal to keep service costs for all our members lower than other online payment providers. PayPal re-evaluates Payment Holds placed on Accounts every 35 days and either extended another 35 days if the merchant’s performance still demonstrates risk factors, or graduated out if lower risk. We continually review our account portfolio for a number of different reasons – business practices, economic impact, as well as being a payments processor for their account. It is our responsibility to systematically or manually review each account on its own merits.
After your contact on July 27, 2010, the PayPal representative requested your Account be reviewed to have the Payment Holds removed. Based on your impeccable history with PayPal, the Holds were removed on August 5, 2010. Your frustration is understandable, please know that the intent of our action was not to cause you undue inconvenience or difficulty, it is a security issue.
Again, please accept my apology for any inconvenience that this
situation may have caused you. If you have any further questions,
comments, or concerns, please feel free to contact me at executiveoffice@paypal.com.
Sincerely,
C*****
Executive Escalations
PayPal, an eBay Company
This is response from paypal complaint filed with Colorado Department of Regulatory Agencies (DORA), Division of Banking. complaint filed with Division of Banking on July 30th and they sent a letter addressed to PayPal President Scott Thompson on Monday August 2nd. The hold was removed from paypal account on August 5th.
MORE PROOF THAT PAYPAL IS THE SCUM OF THE EARTH.They are running out of excuses to give us why they steal our money that they hold for NO REASON!Continue to not play fair with paypal, they will not play fair with you.Please keep in mind that this account was put on money hold with 0 negatives, 0 disputes, with 400 positive feedbacks.Member since: Nov-04-08 in United States. so it can happen to anyone! |
Nice. This further proves my point that all this 1 month PP/EB, hell 6 month's-1 year PP/EB is all crap. You are judged the most by what you actually do on accounts, not so much how long you have actually had them. |
Quote:
Originally Posted by IDK
(Post 160475)
You are judged the most by what you actually do on accounts, not so much how long you have actually had them. | Me thinks so too for sure. |
aspkin | 08-20-2010 10:06 PM | Great post BMW, very insightful. |
slapped | 08-20-2010 10:12 PM | Well you HIT Paypal right where they ABSOLUTLY DO NOT want to be hit.
Paypal has been fighting the Federal Goverments Pressure to Force them to Charter as a Bank. If they Ever Do, Paypal will be forced to Comply with all State and Federal Banking Regulations,,,of which they want NO PART OF,,,,
Also in the Letter thy say: "common practice in the payments industry" about the Holds,,,they forget to Mention that they Pioneered it. |
Quote:
Originally Posted by slapped
(Post 160496)
Paypal will be forced to Comply with all State and Federal Banking Regulations,,,of which they want NO PART OF,,,, | A double edged sword. The closer they have to follow certain rules the harder it will be to use them to be sure. |
GreenBean | 08-20-2010 10:56 PM | @pod, Not necessarily. Since 'we', the forum stay attuned to their ways, their continued use is still possible.
Criteria exist. paypal accounts need match them :peace: |
touché
Where there's a will... |
GreenBean | 08-20-2010 11:08 PM | Quote:
Originally Posted by pod
(Post 160511)
touché
Where there's a will... | No touche, seriously. Just I dont want you (or other users to despair). As much as paypal really really vex us, they also show themselves & their foibles.:spy: Catch them and it helps maintaining accounts :peace: |
bmwsouthside | 08-20-2010 11:17 PM | You are exactly right pod Quote:
Originally Posted by pod
(Post 160502)
A double edged sword. The closer they have to follow certain rules the harder it will be to use them to be sure. | When they have to follow rules we have this all figured out and the battle will be won. at that time we will really kick paypals ass! We have to keep fighting paypal and ebay everyday just like an army. |
Quote:
Originally Posted by bmwsouthside
(Post 160515)
the battle will be won. at that time we will really kick paypals ass! | Well I wouldn't get that excited... Already the SS number is a hurdle...
It wont get easier. Manageable, sure. But the battle will never be won. |
bmwsouthside | 08-20-2010 11:37 PM | Its called spinning words. Quote:
Originally Posted by slapped
(Post 160496)
Well you HIT Paypal right where they ABSOLUTLY DO NOT want to be hit.
Paypal has been fighting the Federal Goverments Pressure to Force them to Charter as a Bank. If they Ever Do, Paypal will be forced to Comply with all State and Federal Banking Regulations,,,of which they want NO PART OF,,,,
Also in the Letter thy say: "common practice in the payments industry" about the Holds,,,they forget to Mention that they Pioneered it. | You said it. They keep saying the same stuff and they not saying nothing! paypal is not going to be able to spin the same words everyday. stall tactics. bs is what we call it. |
bmwsouthside | 08-20-2010 11:38 PM | Quote:
Originally Posted by pod
(Post 160516)
Well I wouldn't get that excited... Already the SS number is a hurdle...
It wont get easier. Manageable, sure. But the battle will never be won. | good point about the ssn. thats going to push us into another area but im sure we all are reasonable guys and thinking of solutions for that. |
slapped | 08-21-2010 01:52 AM | Quote:
Originally Posted by pod
(Post 160502)
A double edged sword. The closer they have to follow certain rules the harder it will be to use them to be sure. |
I Do Not think so at all,,,If they are at some point Forced to charter as a Bank,,,they will have to Treat their Customers accounts as INDIVIDUAL Bank accounts, not like a Small part of one Giant account. That is EXACTLY what Paypal is, ONE Giant bank account that is Divided among All of its Users, so for Paypal to Move Money from One account to another is kinda Like a Person moving money from one Pocket to Another.
As a TRUE Bank, there are Regulations as to how Money must Move from one account to another, even if the accounts are in the Same Bank. Another thing Paypal will NO LONGER be able to PROCESS Payments in your account Directly, The will have to Create a TRUE Merchant Services Division and ATTACH your Paypal account to it so that AFTER the Payment is Processed it will then Be Deposited in your Account, that means AT THE VERY Least that the 180 Hold Thing is Dead, There are No True Merchant Service Providers that Do this,,,Why?,,,,I Have got to believe that it is Against Federal Banking Regulations.
The ONLY Companies that get away with this type of SH!T are NON-Banks, like Paypal, CCNow, 2Ckout,Google,ect, ect,,,,This Practice is UNHEARD of with Chase Merchant Services, American Express Accept pay, BOA, and so on.
There is of course a Down Side, REAL Merchant Service and Bank Accounts Require EVERYTHING (Id Wise) and it MUST Be Real, BUT There wil No LONGER be Limitations put on your account whenever it pleases them, NO More "Parting our Ways" Email for NO REASON at all. No More Disputes when People use Credit Cards thru Paypal, Only when they Pay with Money from their own Paypal accounts No More Attaching Bank accounts to your Paypal account, Because Paypal Now is a Bank, EVERYONE Gets a Debit Card Just Like your Bank Now, and Much, Much More.
So A LOT would Change and overall, Considering Everything I feel that it will be for the Better.
Just my Opinion |
Quote:
Originally Posted by slapped
(Post 160531)
Paypal will NO LONGER be able to PROCESS Payments in your account Directly
REAL Merchant Service and Bank Accounts Require EVERYTHING (Id Wise) and it MUST Be Real
| Thats kind of what I meant by double edged sword. Some good things like they wouldn't be able to play games at their will. Some bad things like a stealth account is no longer possible. |
jbluntz | 08-21-2010 03:52 PM | It's not over yet, we still got Amazon and plenty other auction sites, when it's no longer possible to make a stealth paypal, alot of the stealth activity will just move to other payment processors and auction sites. |
DogFacedBoy | 08-21-2010 05:38 PM | jbuntz PM sent |
xl_The_Jackal_lx | 08-24-2010 07:24 PM | As much as I'm not a fan of government intervention in economic matters, if we have to live under it, I'd rather the playing field be level (i.e. PayPal has to abide by the same rules as other financial institutions like banks). |
turbo | 08-30-2010 06:05 AM | Quote:
Originally Posted by jbuntz
(Post 160627)
It's not over yet, we still got Amazon and plenty other auction sites, when it's no longer possible to make a stealth paypal, alot of the stealth activity will just move to other payment processors and auction sites. | Too true, I wonder who it would be? |
HurricaneHuntr | 09-06-2010 06:51 PM | can you pm me the email address you email? I have now, just now in fact an account that just got payment holds... which is retarded since it hasn't had a dispute or a problem ever in it's 4 months of paypal time. I wanna give them an email. |
dhunter0294 | 09-13-2010 04:26 PM | @ ENTIRE THREAD, Do any of you guys ever see PayPal chartering as a bank OR do they stay as a corporation our entire lives? |
First Edition | 09-13-2010 06:57 PM | paypal does have money market accounts that are not FDIC insured... I'm sure they've got their fingers in banks, no doubt | All times are GMT -5. The time now is 11:32 AM. | |
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