by Raydal
16 replies
I don't know if this has already been posted, but this may be
of interested to some who have/had money frozen by PayPal.

https://accountholdsettlement.com/

-Ray Edwards
#paypal #settles
  • Profile picture of the author agc
    I got the email, but didn't dig into the details.

    But being a class action settlement, it's probably just some pennies on the dollar limp wristed pansy slap when Paypal really deserves a good stiff mandingo rogering.
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  • Profile picture of the author E. Brian Rose
    The total settlement was for $4,000,000, which is a shame, because there are a lot of people that felt the burn of unjustly having their accounts frozen, not to mention the damage to their reputation by not being able to offer refunds, dues to a frozen account.
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    • Profile picture of the author Sid Hale
      Hey Brian,

      Originally Posted by E. Brian Rose View Post

      The total settlement was for $4,000,000, which is a shame, because there are a lot of people that felt the burn of unjustly having their accounts frozen, not to mention the damage to their reputation by not being able to offer refunds, dues to a frozen account.
      Unjustly ????

      Not sure how one would draw that conclusion.

      Like Kay, my experience has been that those whose accounts have been frozen were with good reason.

      I also find it odd that someone whose primary service currently announces "Recently Paid Client Earnings: $184,646,545.33" (all accomplished via Paypal, I might add) would make a statement that seems to proliferate that myth.

      Care to elaborate?
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      • Profile picture of the author agc
        Originally Posted by Sid Hale View Post

        Not sure how one would draw that conclusion.

        Like Kay, my experience has been that those whose accounts have been frozen were with good reason.
        Like you and Kay, I've also never come across a convicted felon that wasn't guilty. Yet, somehow, they seem to keep turning up here and there.

        How do you suppose that could be? I mean it can't even be possible, because hey, we've never seen such a thing in our personal experience.

        My problem isn't that they terminate the guilty.

        It's that they sometimes also terminate the innocent unjustly, and arrogantly presume themselves to be beyond scrutiny or appeal.

        That part doesn't really mystify me. I mean, hey, I'd do the same if I could get away with it.

        The truly amazing part are all the suckers chiming in with "well they must be guilty or else they wouldn't be accused". That just blows my mind. I can't even imagine a world or an age where I was so simple or so naive to believe such a thing. In a grown adult with access to modern information? please. Inexcusable.
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        • Profile picture of the author Sid Hale
          I don't think I recall seeing that sentiment posted anywhere in this thread.

          Originally Posted by agc View Post

          The truly amazing part are all the suckers chiming in with "well they must be guilty or else they wouldn't be accused".
          I've mentioned it elsewhere before, but in case you didn't see that thread...
          My Paypal account has been frozen before. Rather than rant about it to a bunch of people who could do nothing about it (as we've all seen often enough on this and other forums), I rectified the situation that caused my account to be frozen, called Paypal to explain my understanding of the reasons and to provide evidence that the situation had been rectified.

          My account was unfrozen within a couple of hours.

          The "assumption of guilt" comes from repeatedly reading rants from people who feel like they have been wronged, and then finding out that those people
          • had no understanding of the terms of service they agreed to when they opened their account with Paypal,
          • filed their "rant" without first reading the TOS to see if they "might" have been non-compliant, and
          • when shown specifically how they violated Paypal's terms (often with bolded sections quoted directly from the TOS), still refused to recognize their error and continued their tirade.

          A Paypal account is NOT an entitlement. There are rules that must be followed in order to utilize their service, and they have no obligation to listen to any account holder's excuses after the fact.

          The Acceptable Use Agreement is in force as soon as you use the service, and should be read and understood in its entirety BEFORE such use. Of course, that is way too much work for the "get rich quick" mentality that permeates the internet marketing community, but my experience has been that we/they bring it on themselves by following advice from other internet marketers whose main claim to fame is that they wrote an ebook and had one good run on a WSO (if that).
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          Sid Hale
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  • Profile picture of the author woodsy1
    Is it only small accounts that this happens to? I have ran nearly 4 million through paypal in the last 3 years, had a small hiccup but there customer service was on point.
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  • Profile picture of the author sbucciarel
    Banned
    That's the first time I've heard the words "Paypal" and "Settles" in the same sentence. Never had a problem with Paypal, but have read many stories about them holding funds for at least 6 months or so and freezing accounts.
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    • Profile picture of the author Kay King
      I've never heard of an acct frozen longer than 6 months - and with only two exceptions every person who told me their PP story had violated the terms either by lying about their location or their age or something else. They got caught.

      In the past we had had dozens of "paypal took my money" threads on this forum and every time it seems the thread ended up with "Yes, I did violate the terms but ...." I'm sure many people will try to get a piece of the pie but at $3 to $440 payouts no one's getting rich on this settlement.

      I think the OKC reference above is way out of line.
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  • Profile picture of the author 247acheiver
    About 4 years ago I had my Paypal account frozen for an 'undisclosed' reason. Fortunately I didn't have much equity tied up there at the time. I created a new account shortly after that with a new mailing address and credit card number and I haven't looked back since.

    I feel for the ones who have had to endure traumatic times due to Paypal's often shady practices.
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  • Profile picture of the author agc



    Without recourse to due process (hint: that would be access to a legitimate appeal process or at a minimum outside arbitration) to provide some check and balance against tyranny, Paypal is like slavery with a benevolent master.

    So long as you stay in good graces... blue skies, milk and honey. But god help you should you incite the wrath or the whim of the master.

    THAT was what the reference was about... and I don't think it was out of line at all. Inconvenient for those who find big thoughts of noncompliance with capricious and arbitrary rules discomforting, perhaps. But not out of line.

    I have the same problem with Paypal, Google and Amazon. Slavery with a benevolent master. Well Paypal and Google at least, as they exercise near monopoly powers in their sectors. At least Amazon is just one of many affiliate programs.
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    • Profile picture of the author Kay King
      Paypal is like slavery with a benevolent master.
      No, it's not.

      Unless you owe paypal money (negative balance)...you can turn and walk away from Paypal...or Amazon...or Google any time you please. You are not obligated to report to or work with or show up for any of the three entities.

      In fact, it's unlikely those businesses would notice you are gone.
      Had that worked for slavery, we could have avoided a war.
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      Saving one dog will not change the world - but the world changes forever for that one dog
      ***
      Please do not 'release balloons' for celebrations. The balloons and trailing ribbons entangle birds and kill wildlife and livestock that think the balloons are food.
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  • Profile picture of the author agc
    (Yeah, I somehow knew where this was going to go.)

    Yes it is. When paypal is a defacto monopoly, you have almost no choice when doing business online... kinda like trying to be in business and not deal with the railroads in the late 1800's. To say Paypal or Google are somehow optional if one wants to do business online is either delusional or disingenuous.

    So after Paypal seizes your receivables without recourse, with which you were planning to pay your payables, leaving you bankrupt, you can turn and walk away. Yeah. Sure thing.

    I'm too tired to give a basic civics lesson to an Ohio conservative who is grown and shouldn't require one. I'll just give a few bullet points and not comment again.

    * monopolies are baaaad, umkay?
    * robber barons
    * equal access to the rule of law is not optional for a free republic
    * absolute power, corrupts absolutely

    Srsly.


    Post ban and a week vacay, I'm wondering what redeeming value this place has worth sticking around for.
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    • Profile picture of the author Sid Hale
      Originally Posted by agc View Post

      * monopolies are baaaad, umkay?
      * robber barons
      * equal access to the rule of law is not optional for a free republic
      * absolute power, corrupts absolutely
      Paypal is far from being a monopoly for payment processing. Feel free to go get your own merchant account and do your own payment processing. Oh... but be sure to read their TOS as well, as they will levy similar restrictions on your account, should they feel that your business practices increase their financial exposure.

      I don't even understand your reference to "robber barons", as they (robber barons) are characterized by the fact that they prey on those that have no choice. The proliferation of Paypal account holders is not out of desperation, but due to the fact that they provide the easiest, most trusted solutions for available for the customer.

      Equal access to the rule of law is exactly what is in evidence here. Paypal (the supposed monopoly?) is NOT the litigant here. It is their account holders that filed the class action suit, and no settlement is reached except by the agreement of those litigants. How fair could you get? In a class action suit, any qualified party can "opt out" of the class action and choose to file their own suit if they don't want to chance a lower benefit that a class action settlement potentially brings with it.

      As Kay pointed out... the "absolute power" lies with the account holder. They can withdraw all funds and close their account at a moment's notice. They are not required to even open an account in the first place, nor do they have to justify closing that account if they decide to do so at some future date.

      Post ban and a week vacay, I'm wondering what redeeming value this place has worth sticking around for.
      Well, in this regard, the WF and Paypal are very similar. They both impose penalties for not following the rules, but you don't have to be here in the first place.

      You can simply close your account here, too... if you so choose.
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      Sid Hale
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  • Profile picture of the author agc
    lolz. Nice kool-aid.

    Anyhow, as I said, I'm done responding.

    Particularly to someone so clueless about how the class action industry really works, and who it really benefits.
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  • Profile picture of the author ss442
    It's about time. We do however have to remember that these companies like Google, Paypal, Ebay, facebook and others can make their own rules and it can be difficult to challenge them unless you have an endless bucket of cash and a lot of staying power.
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    Ed Sunderland

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  • Profile picture of the author seobro
    Ebay still forces us to use pay pal even now. They are two sep companies. Well, finally pay pal has to pay. Glad they are not freezing as many accounts as before, but I am not sure they will learn their lesson until more people leave this company. BTW, why does WF use pay pal when we know about all its major issues.

    PayPal To Settle $3.2 Million Class Action Lawsuit | Stock News & Stock Market Analysis - IBD
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