Paypal froze $70k+ in my account.
- Thread starter schockergd
- Start date
You said it's a prelaunch product, was kickstarter an option? Their escrow system seems to be ok ... if not a little delayed.
Whenever you're going to do volume with Paypal, get in touch with one of their Business Associates, and give them their cut. That is, they want to withhold funds against chargebacks. They will keep this balance as long as your volume stays high, although it is not a slam dunk they will give it back after a fixed term.
We did a bunch of volume with them a few years ago, and they kept about 50% of one month's subscriptions. They did release it as our sales volume declined, but they don't like to. You have to work them pretty hard to get them to help you out.
Paypal is like 100x more anti-business than the credit card companies.
We did a bunch of volume with them a few years ago, and they kept about 50% of one month's subscriptions. They did release it as our sales volume declined, but they don't like to. You have to work them pretty hard to get them to help you out.
Paypal is like 100x more anti-business than the credit card companies.
I do it purely because it's an interesting game. Probably one of the best online strategy games you can get I would say.
imp:It's not really work is it - let's face it!
Dont think for a second that your "connected" bank account is safe. If you withdraw your funds and they want the money back they can and will take it from your bank account.
The only way to maintain control is to transfer from paypal to your connected bank account, then transfer to a seperate bank account. Had the OP followed this he would simply be dealing with a $35 NSF charge, and be in complete control of his money. Take control, and keep control.
10000x this. Saw this actually happen to someone. Since then, been withdrawing any amount over $1k to the connected bank account and then immediately transferring it to another bank account.
I've never linked my real accounts (to any site) for this reason. Never know when some fucker is going to try to randomly pull all your funds. I'll always open a second account at the same bank as the real account so I can instantly transfer back and forth as needed, and then keep a 0 balance (well $50-100 for random fees) in the dummy account that's linked to the sites, so there's 0 chance of my real account being jacked.
If you became aware of an unauthorized ACH would you be able to call the bank and cancel it before it goes through? Or could a malicious PayPal employee theoretically just withdraw millions of dollars from customer accounts and disappear?
lol just demand your money back and threaten them through any means possible (as long as its legal). don't let them fuck with you and look out for yourself. that's the only way to be #winning at anything in life anyway instead of being a pussy, bending over backwards, and taking it up the butt.
GL bro
GL bro
This happened to me back in February for about $15k (selling a product with payments of $40-$50 at a time). I got in touch with PayPal's Merchant Review team to see what I could do to get the funds back. They ended up releasing $10k and agreed to hold $5k for 180 days in case of charge backs. Didn't wait 180 days, called them up after a month and spoke to one of the supervisors who reviewed my account, didn't see chargebacks, and released the remainder of the funds.
Hope that helps. I haven't used PayPal since.
Hope that helps. I haven't used PayPal since.
indeed it did, but there's not much useful information being shared there. i just view it as pure entertainment, like WF
Not sure how it is elsewhere, but I think in the UK they can't debit your bank account unless you've set up the direct debit instruction. Is that right?
You should also make sure that you don't have any debit/credit cards linked to the account. I forgot about this until recently.
I've used the double bank account arrangement as suggested above for a few years.
You should also make sure that you don't have any debit/credit cards linked to the account. I forgot about this until recently.
I've used the double bank account arrangement as suggested above for a few years.
When I set mine up I don't remember having different options for that. It's either linked or not linked. I suppose the safest way to do it would actually be to withdraw by check, but who still uses checks?
It's not a Paypal option, you set it up with your own bank.
You have TWO separate bank accounts. Paypal links to ONE of these accounts. When the Paypal funds are deposited into this one account (the linked account), you then transfer the funds into your second account (which is NOT linked to Paypal).
I didn't feel the need.
I looked at the #s - $35k-$40k was a pre-order product that was in the mail from the factory when we posted/marketed it.
The remainder less $5k was for a longer-term pre-order product. Much lower price point, but was 3 weeks away (Now two weeks away) when we ran the marketing campaign.
I was clear with then when i talked to the manager - You're holding a large sum of my money for 180 days on a product that will be shipped and delivered next week. Even with broken product, returns ,ect HALF of the amount will be confirmed by buyers within 2, maybe 3 weeks. It doesn't make sense in any way to hold money 160 days after the buyers have their product.
What POs me more than anything is they want my wholesale contacts, prices paid, ect. All of it as far as I'm concerned are trade secrets since someone with my supplier list could theoretically buy and market like I'm doing.
