I do a lot of business on ebay. I sell body kits, hoods, and spoilers for imports. I've been doing it for about 6 months, and business has always been good. About 3 weeks ago my paypal account was put on restriction because there were a couple of chargebacks in a small period of time, and my account was put "under investigation". I resolved these issues immediately by providing tracking information for shipments and providing refunds for orders that were not yet shipped. A few days ago, the resitriction was lifted, and I proceeded to withdraw the $25,400 that was sitting in my account from payments that built up over the last few weeks.

Today, my account was put on restriction AGAIN, and the fund withdrawal was reversed. After searching for a ridiculous amount of time for a phone number, I finally found one on www.paypalwarning.com. I spoke with an extremely rude representative that told me to fax proof that I have my items in stock. I told her that my orders are drop shipped from my suppliers, and she told me that the restriction wouldn't be removed until I faxed proof that I have my items in stock. I told her I could fax her invoices from my suppliers, stating that I paid for my orders, and she said that "might work".

After reading some of the horror stories on paypalwarning.com, I can honestly say that I will probably never see this money again. I just contacted Jacoby & Meyers and requested information about the class action lawsuit that is currently underway.

 

Hope everything works out in your favor. Just offering some support for a fellow owner.

 

That is unfortunately part of doing biznis. I hope it works out, that's a shitload of money. I wouldn't ever trust anyone uninsured with a deposit that large. You don't need a class action suit. You can sue on your own to get your money. The only ones that make money in class actions are the lawyers (it's a cash grab).

Take them to court or at least turn it over to a lawyer to handle. The $500 or so bucks it would cost is probably less than you paid PayPal to handle the transactions. Lawyers are paid to deal with rude people. At least you will have a representative who can deal with those punks at their own level.

 

Jeez, I get fed up with reading these alarmist over the top thread titles that misstate the facts. You have not been ripped off so don't try to suggest it.

 

You should withdraw the money as soon as it goes in. That's what I do.

 

Paypal is really sucky.. Go for billpoint instead. If you even attempt to log into your paypal account from on of the countries that isn't approved on the Paypal list, your account is blocked.

 

I hate PayPal. I've never used nor I will ever after hearing some of the horror stories online.

 

I'm closing my paypal account now

 

[QUOTE]Originally posted by babygrass
[B]Paypal is really sucky.. Go for billpoint instead.

 

The smart thing to do with paypal is use two bank accounts. Have one bank account which has the majority of your money in it. Then set up another bank account that you transfer money back and forth from to use with paypal. That way once you have transfer your money out of the account you use for paypal, paypal can't go back and pull the money out.