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PayPal horror stories: Getting uglier each day

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Gothi[c]:
Yeah, I agree with mouser.
I think even a bank would investigate that much of a gain in such a short period.

nudone:
yeah, think i'd be just crying with happiness too - PayPal could keep the money for months if need be - provided i got it in the end.

J-Mac:
PayPal has been pretty darn good for me. The very few issues I have had have been resolved satisfactorily IMO and were resolved quickly. I realize that this is of no comfort to anyone having bigger difficulties with them - that can happen with any company. But this is certainly not a reason to start yelling about how "ugly" they are. With the extremely vast amounts of transactions and money they handle the complaints I have read about do not seem disproportionate. Maybe I'm just not seeing it.

Thank you.

Jim

Renegade:
I have had no serious issues with PayPal, and I've been using them for years. They've been quite good.

Now, for 600k Euro? JEEZ! They are a payment processor. It's not cash from a bank. Of course they're going to hold back for things to clear up. It's pretty normal. Most companies have 30, 60, or 90 or more days payable on accounts. There's no way they'll just keep it. Now, if you had a 600k running balance over a period of time, and took out 600k, then that wouldn't be a concern given the account history. But 600k in a week? They'd better hold it back. It's suspicious.

I don't think he has anything to worry about. I think he's just skittish because of the amounts involved, and probably just a tad paranoid. Can't blame him though. If I were in the same situation, I'd likely lose my mind and freak out completely!

tranglos:
But 600k in a week? They'd better hold it back. It's suspicious.
-Renegade (September 10, 2010, 11:22 PM)
--- End quote ---

My problem with this is as follows: It's only suspicious if it's you or me.

Banks (PayPal isn't one, but is sufficiently bank-like for the purposes of this thread) launder money by the truckload all the time and they don't even get to admit wrongdoing. Last July it was Wells Fargo and Wachovia (the full deal here, short version here), and somehow that wasn't suspicious.

But if you or I write a piece of software that gives us our 15 minutes of Internet fame and fortune, that's suddenly suspicious, and the bank or PayPal will now "investigate". Ha ha, only not funny.

PayPal has been a major problem for charities. There are plenty of small charities that get a piddling little streamlet of donations all the time, then something big happens, like a flood or an earthquake somewhere, or maybe a political event, and suddenly, for a short while, the money starts pouring in because a lot of people become concerned. To PayPal this is suspicious too, and charities have been locked out of their money for long periods of time.

The idea of an online payment processor was a great one. The idea that PayPal gets to be a cop and an international IRS in one is ridiculous. The idea that they get to hold on to your earnings while they are checking you out is downright insane. At least until you and me get to investigate PayPal back. And all the banks too.

(Not that I expect ever to be in Markus's shoes, have half a million EUR coming in by special delivery. Alas, no. Just on general principle.)

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