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PayPal: 'Aggressive changes' coming to frozen funds policy

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Indeed its mainly uploaders or people affiliated with illegal sites are the ones bitching.

in my own perspective if your going to be involved in the scene your going to have to deal with it.
 
cvrle77 said:
No, they are probably those who least complain on paypal.

Majority is people trading on eBay.

There's about 1 billion websites out there, besides WJ, you know... [pokerface]
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Really? Do people really complain that much on eBay? o_o

Well i guess there are a lot of scams on there.

You mean theres more then just WJ on the net o_o teach me!!
 
Oh yes, they do, there's tons upon tons of posts about eBay and Paypal scams of overprotecting buyers. Uploaders wouldn't make 0.0000001% of all paypal transactions. I remember reading somewhere, they have special software, that closes users account and put their money on hold for 180 days, while they are investing that money (read bank) and get % on that money. It took me 1 year + some days, to get 130 Euros from my frozen account, more than 200 emails, and 30 euros phone bill, to get my money from them. After one year, they wrote to me, that I can transport that amount on any other verified paypal account, so I had to use friends, to get my money. At the end, I got about 80 euros....

Imagine thousands upon thousands of accounts frozen, and all that money put in bank for 6 months, while getting interest on it.
 
cvrle77 said:
Oh yes, they do, there's tons upon tons of posts about eBay and Paypal scams of overprotecting buyers. Uploaders wouldn't make 0.0000001% of all paypal transactions. I remember reading somewhere, they have special software, that closes users account and put their money on hold for 180 days, while they are investing that money (read bank) and get % on that money. It took me 1 year + some days, to get 130 Euros from my frozen account, more than 200 emails, and 30 euros phone bill, to get my money from them. After one year, they wrote to me, that I can transport that amount on any other verified paypal account, so I had to use friends, to get my money. At the end, I got about 80 euros....

Imagine thousands upon thousands of accounts frozen, and all that money put in bank for 6 months, while getting interest on it.
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So what i got from that, is, Paypal intentionally holds funds for x amount of time, because its garners them interest. So when they finally let you have the money, they made profit from holding it for so long?

Or did i just interpret that wrong?
 
Kief said:
Maybe its just me, but aren't most people who 'complain' just Uploaders?
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I know some people who had legitimate businesses online who got screwed by Paypal weird anti-scam mechanisms.

For example, one of them had a niche related to christmas and being so, he made most of his money on november/december. Paypal froze his account for 8 months, 'cause the suddent amount of revenue sounded too suspicious :facepalm:

But I'm really glad they're improving that, it's a good thing.
 
Kief said:
So what i got from that, is, Paypal intentionally holds funds for x amount of time, because its garners them interest. So when they finally let you have the money, they made profit from holding it for so long?
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Exactly. IF they let you have the money, ever.
Since you are being accused being guilty, doing nothing, and you need to prove your innocence. Many with frozen accounts, are unable to do that, and all trapped money stays with them.

Correct me if I'm wrong, but if someone is accusing you being guilty, don't they need to provide evidence for that?

That's something that does not happen with paypal.
 
The only problem I had was about a transaction of around 400 dollars I received for a service, that happened to be made using an stolen credit card.
The legitimate owner of the CC complained and PayPal took the 400 dollars from my account lulz

I kinda understand how much it sucks for the CC owner, but damn...
The thief got my services
The owner of the CC got his money back
And I got nothing but a nice feeling of having worked for free xD
 
Indian government is smartass - Paypal HAS TO auto-send the money to user's bank account the day money is received. Other government's should look at this rule too. They (Reserve Bank of India) asked Paypal to either pay interest on the money kept in anybody's account or send it to their bank on the same day.
 
@Rox

Indian Govt. does that to ensure no money goes untaxed. Once you withdraw any month to your bank, it's officially recorded, and PayPal also asks for PAN card, so they can cross check identities as well if they want.
I don't mind them monitoring PP but having to withdraw to bank sucks coz I have to pay to withdraw first at 2.5% conversion fee than pay my suppliers using PayPal, by having account balance system, I could pay without: waiting 3 days for bank transfer, conversion fee and credit/debit card.
RBI sucks at this.
 
Yashraj said:
@Rox

Indian Govt. does that to ensure no money goes untaxed. Once you withdraw any month to your bank, it's officially recorded, and PayPal also asks for PAN card, so they can cross check identities as well if they want.
I don't mind them monitoring PP but having to withdraw to bank sucks coz I have to pay to withdraw first at 2.5% conversion fee than pay my suppliers using PayPal, by having account balance system, I could pay without: waiting 3 days for bank transfer, conversion fee and credit/debit card.
RBI sucks at this.
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I have read the complete article. What you said is true, but they also did it coz Paypal WAS earning interest money by keeping its users money. One cannot do that. RBI viewed Paypal as a Bank and indian banking laws are very very strict.
 
@Rox
Did you hear about the recent amendments to Indian banking laws? The laws/policies have been relaxed. This should now allow PayPal to maintain balance for Indians.
About interest.. on user perspective, it doesn't even matter.. if you feel you are losing interest revenue, then withdraw or else keep in your PayPal.
 
Always withdraw the money to your bank account.On this way,you can secure your money.If you use ebay,than your paypal account is in high risk.Their security system is a nightmare....
 
I would appreciate if paypal takes new steps as alot of people whom havnt scammed any one but got their accounts blocked would love paypal again rather than hate it.
I hope they also add new countries in paypal as its not available in some countries yet
 
Ive still got $200 frozen thats been frozen for over 5 years. Just not worth the phone bill, time and headache to get it. Now I always keep my paypal balance at no more than 2 months operating cost.
 
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