| Pages in topic: < [1 2] | Paypal's bait and switch technique - be aware! Thread poster: Marijke Mayer
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Tom in London
United Kingdom
Local time: 19:50
Member (2008)
Italian to English
Williamson wrote:
Both with PayPal and Moneybookers, 400 euros is the maximum allowed amount? Anything about that sum means you run into troubles to get your money transferred to a regular account, even if you are a "verified customer".
Williamson, not in my experience. I've been regularly receiving sums via PayPal for EURO 1,000 and more, without encountering any problems, but that's because when I was initially setting up my account I remember there was a "no limit" option and I went for that.
But now I'm worried that at some point my account may be frozen!
| | | | Marijke Mayer 
Netherlands
Local time: 20:50
Dutch to English
+ ...
TOPIC STARTER | worried about closure, and rightfully so. | Oct 10, 2009 |
You should be worried, Tom. It was the same story with me, all was well until I suddenly got a few payments together making for a larger amount. This is when my account was frozen. I was a verified customer and it means absolutely nothing.
And this is what I mean by :
Paypal's bait and switch technique
If I were you, I would close the PayPal account and use the bank even if they charge more.
All is fine and dandy, things are going smoothing, yo... See more You should be worried, Tom. It was the same story with me, all was well until I suddenly got a few payments together making for a larger amount. This is when my account was frozen. I was a verified customer and it means absolutely nothing.
And this is what I mean by :
Paypal's bait and switch technique
If I were you, I would close the PayPal account and use the bank even if they charge more.
All is fine and dandy, things are going smoothing, you do not have to pay anything to open up an account. The welcome you. You are lulled into a false sense of security and then WHAM!you get a large payment and then they freeze your account.
And yes, as far as I am concerned at least, you can get a bonus for thinking of the name: ProzPay!
Marijke ▲ Collapse
| | | | Tom in London
United Kingdom
Local time: 19:50
Member (2008)
Italian to English
Marijke Mayer wrote:
You should be worried, Tom. It was the same story with me
you can get a bonus for thinking of the name: ProzPay!
Marijke
But I won't be collecting the bonus via PayPal!
Thanks for the warning - I had already opened a polite correspondence with that particular client, suggesting that we might stop using PayPal. Now you've given me more ammunition to strengthen my argument. In fact this client has also had PayPal problems in the past.
[Edited at 2009-10-10 16:17 GMT]
| | | | Williamson
United Kingdom
Local time: 19:50
Flemish to English
+ ...
| Tit-for-tat. | Oct 10, 2009 |
They have their seat in Luxembourg of all places I might add. .
So have +300 banks and Skype. To have a seat (sàrl) in Luxembourg means that company is based is a more fiscally friendly country, nothing wrong with that.
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This discussion becomes a tit-for-tat. No, I did not have any problems withdrawing €1000 vs.beware of paypal and mb because my account was frozen because I failed to supply them with the necessary papers due to intricasies of Dutch legislation (maiden n... See more They have their seat in Luxembourg of all places I might add. .
So have +300 banks and Skype. To have a seat (sàrl) in Luxembourg means that company is based is a more fiscally friendly country, nothing wrong with that.
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This discussion becomes a tit-for-tat. No, I did not have any problems withdrawing €1000 vs.beware of paypal and mb because my account was frozen because I failed to supply them with the necessary papers due to intricasies of Dutch legislation (maiden name story).
The bottom line is: Should I trust PP to receive more than €500 or put more than €500 on my business account to make payments. I have been with PP since 2002 and never had any problem, but the amounts of money received/transferred were always about €500.
What will happen if I receive say €5000 and want to transfer that amount to my verified bank-account. I had to giv my visa-card data and to verify that I am who I am, they withdrew $1.
--
Same question with MB. I became a verified customer after they send me a letter with a code, I had to introduce. With MB., I don't have a business account.
Should my conclusion be to use both only for small amounts of money and be paid by check or wire-transfer or bank-account, if I have an account in the Eurozone? If I want money fast, I don't mind paying their fee, but I would not be to pleased if I found my PP-account blocked with €5000 on it.
[Edited at 2009-10-10 17:15 GMT] ▲ Collapse
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Tom in London
United Kingdom
Local time: 19:50
Member (2008)
Italian to English
| fiscally friendly | Oct 10, 2009 |
"fiscally friendly" = tax haven? So they take more money from us and pay less tax at the other end.
Cool.
| | | | Williamson
United Kingdom
Local time: 19:50
Flemish to English
+ ...
| All banks, great and small. | Oct 11, 2009 |
Luxembourg is no tax-haven.
It takes money where the money is or should I say was. All banks, big and small or about 400 banks from all countries of the world. The state levies a % on the assets of those banks and that is a whole lot of money. It is more lenient towards its citizens and companies. Why is Skype based in Luxembourg of all places?
Tax-laws belong of the competence of the Member States and not of Brussels.
Everybody is free to set up business in that Member ... See more Luxembourg is no tax-haven.
It takes money where the money is or should I say was. All banks, big and small or about 400 banks from all countries of the world. The state levies a % on the assets of those banks and that is a whole lot of money. It is more lenient towards its citizens and companies. Why is Skype based in Luxembourg of all places?
Tax-laws belong of the competence of the Member States and not of Brussels.
Everybody is free to set up business in that Member State where taxes are lowest.
(see tax-misery index).
Why do you think that a big translation agency of German origin set up shop in Luxembourg. Right, taxes and customers (EU+ the banks). Years ago, I applied there. Whereas some EU-states deduce 50% of a salary, Luxembourg deduces 13% for taxes and social security
Besides with the European Savings Guidelines in force, Luxembourg has to impose an advanced tax-payment on interests from savings accounts.
Gone are the "coupon trains" from Brussels to Luxembourg. Replaced by flights to Geneva and other tax-havens.
But that was not the point.
The point was : will Paypal block my business-account if I receive a large sum, say 5000-10000 euros or prevent the transfer of that sum with the excuse that it has to "protect me"?
The same question for Moneybookers, where I don't have a business-account.
Both verified my identity.
[Edited at 2009-10-11 08:16 GMT] ▲ Collapse
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But that was not the point.
The point was : will Paypal block my business-account if I receive a large sum, say 5000-10000 euros or prevent the transfer of that sum with the excuse that it has to "protect me"?
The same question for Moneybookers, where I don't have a business-account.
Both verified my identity.
[Edited at 2009-10-11 08:16 GMT]
As a citizen of Algeria I can't use Paypal so it doesn't really concern me...However I can use Moneybookers, and the funny thing is that they blocked my account without advising me then when I wanted to withdraw they just asked me for some proof of my location i.e. bank statement (recent one)...
Well I was infuriated because under THEIR terms and conditions they freeze an account if the holder can't provide the paperwork or is unwilling...They didn't warn me and nothing was there to say that I had a frozen account till I clicked on withdraw !!!
I didn't give that much thought, I scanned a statement that was about six months ago (recent for me means in the current year !!!)...I sent it, and guess what a week passes and my account is still frozen !!! Because, I had to send a statement which was issued about no less then three months again... I really think that they do believe that I am psychic because how the hell do you expect someone to know what you want if no correspondence is done !!!
Then THEY FINALLY unlocked it !!!
Now what makes it funnier or bitter may be is that when I asked them why they broke the terms and conditions as they were supposed to answer me they superbly eluded the question...I sent them several emails which they answer in a courteous manner but still with evasive answers !!! I asked them for the contact of the regulatory organism and did contact them...
Is anyone familiar on how to file a complaint and did anyone live that kind of situation because I really feel that they should stick to the terms and conditions...And I really think that people who had the same experience should stick together to file a lawsuit of at least do something about...I'd be more than happy to sue them if I knew how to do it under British law...
MoH
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This has been a real eye-opener for me.
I had quite a large sum held with Paypal, thinking it would be fine just sitting there for a few months, but after reading this I've transferred it all to my bank. Some of the stories on the Paypalwarning site are total nightmares!!
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| Virtual Banks are a higher risk than face to face | Oct 12, 2009 |
I also had a problem with PayPal. A payment from a client was frozen and returned to the client. According to PayPal this was all done for my security and best interest. I won't go into details, but I should state that I was overwhelmed by the arbitrary and unsupported procedure (according to PayPal it was a routine random check up of accounts). I was even more overwhelmed by the scarce answers I got from PayPal, as someone has said, in the most polite manner, but not addressing the logic of... See more I also had a problem with PayPal. A payment from a client was frozen and returned to the client. According to PayPal this was all done for my security and best interest. I won't go into details, but I should state that I was overwhelmed by the arbitrary and unsupported procedure (according to PayPal it was a routine random check up of accounts). I was even more overwhelmed by the scarce answers I got from PayPal, as someone has said, in the most polite manner, but not addressing the logic of the situation and rational arguments. This sounded an alarm in my relationship with PayPal.
For this reason I have begun to ask my clients to consider direct transfers, either to my bank or through express mail, with preference to PayPal. And after reading these leads I think it's a good procedure to establish a limit to PayPal deposits. If I'm going to receive an amount that might be the inflexion point between solvency and insolvency, or may affect my normal balance, I don't want risks like these. ▲ Collapse
| | | | Laurent KRAULAND (X)
France
Local time: 20:50
French to German
+ ...
| Careful with those stories... | Oct 12, 2009 |
Steve Coleman wrote:
This has been a real eye-opener for me.
I had quite a large sum held with Paypal, thinking it would be fine just sitting there for a few months, but after reading this I've transferred it all to my bank. Some of the stories on the Paypalwarning site are total nightmares!!
Those stories are certainly true - however, they would seem by far more credible if there was no advertisement for a competing system on that site.
I had my account "verified" (and my funds blocked) by Paypal once and I gained access to my money again 24 hours after I sent them scans of the requested documents.
| | | | | No money left on PayPal | Oct 12, 2009 |
I don't leave more than USD 1.00 - not even overnight - at PayPal. As soon as I receive a payment there, I use Xoom to transfer it to my bank account in Brazil (since PayPal cannot do it directly). As a verified PP user, if they decided to return the funds to the payer, as the money won't be there any more, they'll have to charge it to my credit card. Then, if they insist in charging that amount, I'll challenge the debt, and they'll have to show evidence to Visa International that they had the ... See more I don't leave more than USD 1.00 - not even overnight - at PayPal. As soon as I receive a payment there, I use Xoom to transfer it to my bank account in Brazil (since PayPal cannot do it directly). As a verified PP user, if they decided to return the funds to the payer, as the money won't be there any more, they'll have to charge it to my credit card. Then, if they insist in charging that amount, I'll challenge the debt, and they'll have to show evidence to Visa International that they had the right to charge that amount to me. ▲ Collapse
| | | | Laurent KRAULAND (X)
France
Local time: 20:50
French to German
+ ...
| No money left on PayPal (2) | Oct 12, 2009 |
I don't leave any money on PayPal either. As it has been said, a PayPal account is not like a normal deposit account and should IMO not be used as such. It is only a "cheap way" to transfer funds from e.g. Canada to Europe - cheap when compared to the fees taken by conventional banks for clearing American or Canadian cheques .
I may be running O/T with this one, but what really puts me off is having to pay PayPal fees for transfers within "continental" EU (!) because some... See more I don't leave any money on PayPal either. As it has been said, a PayPal account is not like a normal deposit account and should IMO not be used as such. It is only a "cheap way" to transfer funds from e.g. Canada to Europe - cheap when compared to the fees taken by conventional banks for clearing American or Canadian cheques .
I may be running O/T with this one, but what really puts me off is having to pay PayPal fees for transfers within "continental" EU (!) because some outsourcers don't like making wire transfers...
[Edited at 2009-10-12 19:33 GMT] ▲ Collapse
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| Can't stand Paypal | Oct 12, 2009 |
I only use Paypal because there are a few agencies that insist on it, but frankly a check in the mail seems to work out better, believe it or not. They charge you to receive money and then charge you to pay it to you. Then all these horror stories of freezing.
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