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What does Paypal mean with my account?
 

Hi guy! Last name I emailed paypal to release my funds after 45 days limitation. And today when I woke up, I got an email from them

I don't understand what Paypal mean that they suggest me to add the phone number in my Paypal account and then I can get, send funds even though my account has been limited. Can someone explain it for me?

Re: What does Paypal mean with my account?
 

You're not getting your money for 180 days from the date of the limitation, at which point you'll be able to dump it all into a bank account of your choosing. The only thing you can do until then is refund people.

Them giving you the BS about the mobile phone is just them trying to get you to link all your info at once so they can be sure to add it to the list of stuff that's banned.

Re: What does Paypal mean with my account?
 

You made the mistake of contacting them because of your 45 days limitation - now you are stuck with 180 days...not much else to say - wait and get backups going

Re: What does Paypal mean with my account?
 

PP is ridiculous. First they tell you they want to "part ways" and then they tell you they are there to "help you" when all you want is your money. I had my funds held for 180 days and had my transfer reversed when I tried to transfer and now have a 45 day limitation till Jan.14th. Just mark your calendar and try to get it out as fast as you possibly can when it becomes available. I wish you much luck.

Re: What does Paypal mean with my account?
 

Their policies are much easier to swallow once you realize that most of their policies revolve around credit card rules.

Most credit cards allow a 180 day window for chargebacks on purchases. They just want to make sure that the money is there if someone charges back a bunch of your purchases in that time period.

Re: What does Paypal mean with my account?
 

They can be ridiculous but that 180 day rule is pretty standard - accept it and move on - best way to avoid is 1) relying on ONLY one account (big no no) and 2) relying ONLY on pp funds for life (also a big no no)

Re: What does Paypal mean with my account?
 

This is yet another round of the games they play.

Not fair on the user, for sure.

Appears they apply the rules as they want.

We have to try to not get caught.

:peace:

Re: What does Paypal mean with my account?
 

hang in there you will get your funds..we all have been there at some point or another it is truly sad how they can just keep holding funds that don't even belong to them and they are still collecting interest on the funds while we have to wait...:nono:

Re: What does Paypal mean with my account?
 

As I said before, the 180 days revolves around the chargeback policies of credit card companies.

Most credit card issuers give their users the ability to charge an item back within 6 months of purchase. PP is worried that someone who bought from you will chargeback using their credit card which PP cannot dispute, so they hold your funds for the duration of this period to protect themselves from loss.

In many instances, PP will release your funds earlier than 180 days if they find that:

1) You have a low % of CC-based sales. If most of your sales come from direct transfers through PP you're usually pretty good.

2) Sometimes they will move up the date of your money's release to 180 days from the date of your last CC-based sale.


or:

3) Sometimes people report that they receive a good portion of their money (between 50-80%) after just 45 days and they don't have to wait the full 180 days. This is because PP is releasing the funds that are not associated with CC purchases.



.... As you can imagine, all this goes down the drain if your account was limited because of a excessive CC chargebacks.

Re: What does Paypal mean with my account?
 

Good post.

Re: What does Paypal mean with my account?
 

I don't have much time to come on here but always check this forum from time to time. Anyway want to share a recent paypal experience to see if anyone has had similar.

I have 3 accounts all with not much in go past the 180 days and no email from paypoo to say they would release funds. One is upto about a year and waiting, one is about 10 months and the other has just gone past 180 days.
In the past funds have always been released on time. But these are my most recent limited accounts.

I phoned paypal numerous times for the account which is around a year and waiting, and the most recent 7 month one and both they have told me on the phone they will not release my funds unless I send them a written letter and they will then write back to explain their reasons.

Nothing I sell is vero, but all my accounts are stealth. So letter sending is likely out of the question. I am just thankful the amounts are minimal.

Re: What does Paypal mean with my account?
 

Send them a written letter... FROM A LAWYER... and watch how fast you get that email.

Re: What does Paypal mean with my account?
 

Here are the rules to follow to avoid this:

1. Spread your sales over many accounts.
2. Withdraw regularly, do not leave more money in PayPal thsan is necessary to pay your eBay fees and cover any refunds.
3. Be consistent with your withdrawals. Avoid spikes if at all possible.
4. Be prepapred to supply information, should PayPal request it. This is best avoided altogether, if at all possible.
5. Do NOT rely on what you have in PayPal to cover your living expenses. Until the money is in YOUR BANK ACCOUNT, anything can happen at any time.

Having multiple accounts on multiple venues is the key. That way, if you happen to lose an account (and you WILL, it happens to all of us sooner or later) you are not stuck trying to figure out how to pay your bills and feed your family on four cents a day.

Re: What does Paypal mean with my account?
 

This is a little misleading. Your money is not 100% safe once its in your bank account. As long as your PP agreement is still in effect, they have the "right" to take money out of your bank account to cover charges and negative balances.

There have also been reported cases where they've illegally taken money out from a bank account without the necessary agreements in place that would allow them to do so.

Re: What does Paypal mean with my account?
 

^^^^^^^ that's why I immediately transfer money out of the immediate bank acct. to a master I keep that eb & pp have no access to. I have 4 TD Bank accts. & 1 master. Same with BBT. I have 6 accts. & 1 master. As soon as $$ hits the acct. associated with eb or pp I transfer to the master. I also have overdraft protection turned off and the most I will have hopefully is an overdraft charge should something happen. My items all range over $100 so an OD charge is better than $100-$180 loss.

Re: What does Paypal mean with my account?
 

TD is a good bank account - very true