Been a member with paypal for over 10 years now, done hundreds of thousands of dollars worth of transfers with them.
Recently launched a new product at a fantastic price point as a pre-order. Put it up on our website, did a big marketing campaign, sold around $65k in product (The remainder was money I kept in there because I used a Paypal debit card regularly).
They locked the funds mid last week, saying that i needed to provide invoices and the like. I did, then they requested more invoices and business information, which I sent them.
Now I got a email this morning stating that the money will be locked for 180 days. No way to appeal, nothing.
Our pre-order was quite short term, the customers will have all their products in their hands within two weeks or so, i have almost no product complaints and have delt with disputes typically within 24 hours of notification.
I'm at a loss. They just about ruined my company. We've done our best to offer what our buyers want at low prices, and doing pre-orders is usually the best for everyone because it allows us to buy in bulk from our wholesalers.
Will likely be calling a lawyer later today.
Recently launched a new product at a fantastic price point as a pre-order. Put it up on our website, did a big marketing campaign, sold around $65k in product (The remainder was money I kept in there because I used a Paypal debit card regularly).
They locked the funds mid last week, saying that i needed to provide invoices and the like. I did, then they requested more invoices and business information, which I sent them.
Now I got a email this morning stating that the money will be locked for 180 days. No way to appeal, nothing.
Our pre-order was quite short term, the customers will have all their products in their hands within two weeks or so, i have almost no product complaints and have delt with disputes typically within 24 hours of notification.
I'm at a loss. They just about ruined my company. We've done our best to offer what our buyers want at low prices, and doing pre-orders is usually the best for everyone because it allows us to buy in bulk from our wholesalers.
Will likely be calling a lawyer later today.