Paypal Limited - Was Making $350+/day through it

I use a good solid merchant account for all transactions much better.

May i ask what type of "merchant" account are you guys talking about?

This is becoming less of the normal response then 5 years ago....primarily because Pay Pal can and will freeze your account FOR ANY REASON THEY CHOOSE.....AND CAN AND WILL HOLD YOUR FUNDS FOR UP TO 180 DAYS.

Years ago...on this very forum....I said I hoped more honest marketers got screwed by Pay Pal....in order to prove my point.

Ironically the very same company that owns Pay Pal......Ebay......had the nerve to send me a POWER SELLER CERTIFICATE THE VERY DAY PAY PAL FROZE MY ACCOUNT WITH 100% PERFECT FEEDBACK...NOT A SINGLE COMPLAINT...NOT A SINGLE NEGATIVE. NOW U TELL ME HOW MUCH SENSE THAT MAKES?

I too was asked to send in enough personal information that they could literally steal my identity 100 x..........and oh yeah...the answer given as to why the froze my account?

"excessive sales." I am quoting the robot I finally reached on the phone.

$6800 and some odd change....was held from me earning interest for pay pay....and by the way.....after 180 days you wont get your money back....unless you call them and request it...and then it's phone tag baby.

Since one of my old post NUMEROUS HONEST MARKETERS HAVE BEEN JERKED AROUND BY PAY PAL......and the days of then freezing the accounts of crooks only are long over.

I exposed against threats from Pay Pal's legal "team".....the skim scam in which millions and million in frozen accounts sit in banks generating interest.....and even though I was completely exonerated of anything and was given my money back.....I earned not one penny of interest on what the STOLE from me.......and did not get so much as an apology.

Pay Pal has been sued....and the did in fact lose in one class action suit. Another is coming.

But be warned......3 years ago....if you mentioned that you were going to take any type of legal action against these *******s....you 'violated their TOS..." and your account was bannned. Banned spelled N A Z I S.

I find it interesting that if your FDIC insured band screwed you out of money .....you'd raise holy hell as well you should.

Yet Pay Pal (not FDIC insured) can do what they please..and rather then getting outraged people bend over and kiss the ass of the very thieves who take their money.

I have NEVER understood why anyone would give them that kind of power.

I will only use pay pal with the credit card option........and I use a merchant account because Pay Pal has NO regulation....they regulate themselves.....and I know for a fact numerous good Warriors on this forum have at the very least had their money frozen.......so no...you aint gotta be a crook.

To the OP.....I feel bad for you. But let this be another lesson in putting your faith and business foundation in and on any bell or whistle....especially one that does NOT have to answer to anyone...and they make it very clear in their TOS.

My show Pay Pal Corruption Exposed did massive numbers on Blog Talk Radio.....and I flat out said live on the air.....Please come and sue me.....I welcome it.

But Pay Pal has a problem that is going to arise in the next class action suit...and it's the angle I've been preaching for years......what DO THEY DO WITH THE INTEREST EARNED ON MONEY FROZEN....THEN RETURNED 6 MONTHS LATER...CUZ THEY SURE AS HELL DON'T GIVE IT TO THE POOR SOB THEY ROBBED IT FROM...WHOSE BUSINESS MIGHT HAVE SUFFERED FOR IT AS WELL.

NO ONE has EVER been able to give me the answer on this very forum. NO ONE. And that's why I did the show......and after a year of research.....I can say with certainty ....the "frozen accounts and the interest earned off the millions of dollars held " is big business.

It's the dirty little Pay Pal secret and interestingly enough that was what Pay Pal's attorney told me not to discuss in any way , shape , or forum.

I wonder why. lol.


And I also know why I was never sued for that show. They would have had to explain what happens to that interest....and I'm not so sure they want to do that.


Peace, Vegas Vince

Because honest businesses get shut down without rhyme or reason. All the time.

EDIT: And what Vinnie said is true.

Check this out - you can read the thread I posted yesterday about help, so I won't go into details here...but...

Paypal, when they shut me down, actually STOLE, yes STOLE money I had paid to my web host, software, and a wso I purchased. The REVERSED all that money that was paid. Not a peep to those people why - but now I have 10 people banging at my door, wondering why on earth I did a "chargeback".

Let me tell you something - PayPal will screw you over. I never thought it would happen to me. But it did. So yes, be afraid. If you overly rely on paypal, they could come a knockin' and you could find yourself out of a business.

Rob

This is why: http://www.warriorforum.com/main-int...st-paypal.html

There are lots of honest people here who got their account frozen...

Always have a backup plan.

Cheers,

~Gary

Took a seminar with an internet marketing educator a few weeks ago. On the second seminar (out of three) he told the audience that paypal has frozen his account because so many people had booked the seminar and thus a rush of money flowed into his paypal account in just a few days.

Now he has to provide additional info about his website and whatnot other details in order to unfreeze his funds.

So it´s still going on with paypal.....

Most of the writing sites only pay via Paypal, so I suggest writers be VERY AWARE of this. I believe a Warrior has already had her account frozen pretty recently.

I don't know why any proper IM'er would go with Paypal. "Customers trust it" makes no sense to me when I consider that most online shopping sites do not use Paypal.

If you want to accept credit cards you can use Amazon or Google or 2Checkout. I really don't understand why so many people use Paypal if they don't have to.

How do you do this? I thought PP only allowed one business account?

New bank acct/address?

Can you recommend 3-4 merchant accounts, and any hidden disadvantages they have.