Posted by MikeC/TX on 8/3/12 7:35pm
Msg #429285

Paypal

There has been some discussion recently about Paypal and its faults, so I thought some of you might find this article interesting. The lead is about a guy who brought $1 million into his Paypal account - legally, and after notifying them that this was about to happen - before Paypal froze the account because they suspected fraud.

Question not clearly answered in the article - who got the float on that money while the account was frozen??

http://tinyurl.com/cu927d8

Reply by ikando on 8/3/12 9:28pm
Msg #429297

I mentioned my PayPal issue earlier. Although nothing like what is mentioned in the article, I was very frustrated. I'm still looking for an alternative. I'm concerned about ID theft as well as the loss of interest which should be paid on funds held.

Reply by Jessica Ward on 8/4/12 10:52am
Msg #429345

Try squareup. It deposits in your account the same day n/m

Reply by Sylvia_FL on 8/3/12 10:02pm
Msg #429299

PAW had a Paypal account. After he passed away I called them on behalf of Ann to find out what she needed to get the money that was in his account (The payments for his apostille service went into the Paypal account) I sent Ann a list of what they said they needed. She complied with everything - copy of death certificate etc. It has been a year now and she still hasn't received the money. They are ignoring her now. She has had to get a lawyer to sue Paypal.

Reply by MikeC/TX on 8/3/12 11:49pm
Msg #429308

That's just unbelievable - what is she supposed to do, drag his body into their office???

These are the types of situations the article was talking about - Paypal just decides that there's something wrong, so they won't release the money. For them to ignore the widow of an account holder and keep the money - there are just no words...

I hope she has been able to find an attorney that can nail them to the wall. Better yet, I hope there can be some negative PR generated about them.

Reply by Notary1/CO on 8/3/12 10:48pm
Msg #429301

I have used PayPal for years with no problems. I have multiple business and personal accounts. I use it for payment processing and emailing invoices, not for holding funds. I transfer funds from PayPal to my bank checking account, so I do not accumulate a large balance in PayPal. Also planning to use their new PayPal Here credit card payment app for smartphones.

Reply by Glenn Strickler on 8/4/12 2:30am
Msg #429313

Used for many years also without issue. I do take a couple of precautions. I have a bank account (credit union, actually) solely for Paypal. If I pay something using Paypal, when Paypal makes a request to my bank account, I have to release the money from my credit union myself manually. That keeps Paypal from yanking the money back out if an unscrupulous company attempts to reverse a payment made to me. (for example a signing service that pays through Paypal in order to get me to take a signing, then it tries to reverse the payment the next day. I never keep a balance in the Paypal account.

Reply by ToniK on 8/4/12 10:52am
Msg #429344

I use paypal as well but I have their debit card

so soon as money is in it, I hit the ATM and pull it out. I prefer that better than attaching my bank account.

Reply by jba/fl on 8/4/12 7:36am
Msg #429319

"planning to use their new PayPal Here credit card payment app for smartphones."

You might want to look into Square or one of the other credit card apps - many people here already use them and love them. Search for discussions. Start weaning yourself from one company only....kind of like having only one client.

Reply by Notary1/CO on 8/4/12 9:26am
Msg #429332

I already have a Square account. PayPal Here is a fairly new service. Have also looked at Intuit GoPayment. Square users might want to look at PayPal Here.

See comparison chart at https://www.paypal.com/webapps/mpp/credit-card-reader#compare-paypal-here-overlay