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PayPal Hold Funds Question

Discussion in 'Business & Tax Advice' started by CPAchick, Aug 17, 2011.

  1. CPAchick

    CPAchick Regular Member

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    Hi Guys

    I've been using PP for about 6/7 years with no pronlems - I have a Premium account verified.

    Two weeks ago PP started cancelling a couple of subscriptions I have running on my account. I sensed something was up with all the horror stories floating around the web.

    Anyway one of the main things I've been using PP for is to receive money for webmaster services from abroad - currently getting about $2000 per month from one particular client.

    Anyway once I got the sense something was up I emailed my client and asked to switch to wire transfer, they've agreed, but PP have put a 'hold' on nearly $2000 in my account while they'investigate' whether the money is legit. Nearly 1 year I've been working with this client sending me the same moeny!!!

    Anyway, my client wants to know if they should cancel the 'held' funds - don't even know if they can cancel with the funds held?

    If I tell my client to cancel will PP create more problems for me/my account? I sitll need my account for sending money for services I regularly use?

    Anyone have any experience with this aspect of PP?

    thanks,
     
    Last edited: Aug 17, 2011
  2. 420lounge

    420lounge Power Member

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    you need to get more info from paypal. Unless you are a country that you not supposed to have paypal or used fake info they will let you know what right away. 6 years a customer?

    they can hold your money 160 days i believe and release it after if they want...

    with the subscriptions im sure someone can add more
     
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  3. CPAchick

    CPAchick Regular Member

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    I'm from the UK and I used legit info and bank details to open and verify my account.

    What PP are saying is that they bleive the funds might not have been authorised by my client, which is ridiculous! I've been receiving the same money from my client for a year now! They can see that from my account history!

    I'm more worried about PP stopping me from using the account in the future rather than how long they take to carry out their bogus investigation and release the money.

    It's just PP messing up my business and causing unnecessary problems.
     
  4. Corvult

    Corvult Newbie

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    IMHO, try to contact them first. PP are very unpredictable atm.
     
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  5. DigitalCity

    DigitalCity Jr. VIP Jr. VIP Premium Member

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    You need to call them directly and gather all info. Explain everything you explained here and unless there is some illegal business or info done you should have no problem getting the funds reversed back the funder or the money released to you if this is something you have done over and over again in the last several years.

    You can google paypal executive emails if you need to email them directly too.
    the regular cust service emails do not go anywhere....
     
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  6. VMagick

    VMagick Registered Member

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    Absolutely correct the statement in previous post. Contact them. Not once, but many times..if you can't find their direct number, PM I have it.

    Exactly the samething happened to me. Someone that had obviously wanted to send me money, they put a hold on the amount in my account. Stating that it was an "Unauthorized Transfer" that sender probably had their accout hacked into. Which was of course completely ridiculous.

    They eventually released the hold and I recieved the funds in my account, but it took about 2 weeks of me calling them regularly, and also providing proof that the transfer was legit..
     
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  7. mxo69

    mxo69 Junior Member

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    Def try to call them, it may just be a quick verification step you need to complete with them. I have had similar issues with paypal and once contacted them everything was fine.
     
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  8. CPAchick

    CPAchick Regular Member

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    I guys, thanks very much for your help here. I'll absolutely start calling them today.

    And yes, there's nothing dodgy with me or my client, they're a well known company in the US.