posted on February 3, 2002 09:49:25 AM new
Ever get the feeling you were being cheated? Paypal, is obviously a corrupt system, just look at all the posts on here.Here is our story.We set up an account to accept money as we were starting up a little internet business.Business was good and we soon had several thousand dollars in our paypal account.Because we are in Canada, we decided to get the money put into my sisters account, as she lives in Washington State, and therefore we would save a few hundred dollars in currency exchange fees that our bank charges us.On the paypal site, there was an area where you can change your bank account info to redirect your funds.NOWHERE ON THIS PART OF THE SITE ARE ANY TERMS OUTLINED FOR THIS PROCEDURE.They make it seem very simple.So we entered my sisters account information into the appropriate fields, and soon recieved a notification from paypal that they needed photocopied documentation of my sisters bank account, including her balance and other types of info that are not relevant to paypal.My sister was reluctant to give that information to a company that she wasnt even dealing with so we decided at that point to just eat the few hundred dollars in currency exchange fees and switch our account info back to its ORIGINAL STATE in the name of the paypal account holder.Then, we were suddenly informed that our account was restricted.We made calls to paypal, and explained to them that we just wanted our money sent to the original bank account, and that the account was in the paypal members name who set up the account in the first place.We offered many options, including just sending us a check to the original address on our paypal and credit card applications.No dice.Paypal said they STILL needed my sisters bank account info if we wanted the restriction lifted.(?!)In my opinion, after reading all the posts on here, I consider this company to be a sham, and guilty of theft.I am wondering what legal recourse we have here.Shouldnt we be able to sic the police on them or something?
Either way folks.....stay FAR away from Paypal, cuz they really really suck, and they will likely steal your dough.
posted on February 3, 2002 10:12:55 AM new
i know there are some foreign nationals who have checking account with us banks,may be you can open an account with a us bank close to the border??or if they have a branch in canada you can walk in and inquire.
posted on February 3, 2002 05:06:08 PM new
paypal does have the right to ask your sister for bank information etc.
how would you like if i add your bank account to my paypal account and start moving money from your bank to my paypal account,i could use a few thousand dollars.
this is something you and your sister should have looked into before acting.
why is your canadian bank asking few hundred dollars for accepting your paypal fund??
posted on February 4, 2002 02:13:07 AM new
You guys dont seem to get it.Paypal had every right to ask for my sisters account info -i agree....my sister also had every right to change her mind when the stipulations (which are not clear on the paypal site) were made clear to her.For whatever reason, she doesnt want to send her balance information to them.Thats her right.All we asked paypal to do (after they restricted us) was to put the money back in the ORIGINAL ACCOUNT that we intended to use when we signed up.You see, our paypal account is in the same name (mine) as the credit card account, (which is also in my name) we used to activate the account, which is all tied to the same address (mine for 2 years) that we used on the application!There is no justification to hold this money at this point.Basically, we are being told we cant have our money simply because we changed our minds about where to send it, all of which is irrelevant because, again, we just want the money sent to where it would have gone originally (my canadian bank account)
I know you guys like sticking up for paypal, but theft is theft.
posted on February 4, 2002 02:22:37 AM new
I have come to the conclusion that paypal must be paying cronies to sit here and back them up when people complain about them on this message board.How else could you explain people sticking up for a faceless corporation which totally lacks a customer service center, and holds thousands of dollars ransom while offering no options for retrieving it.After reading the hundreds of reports on the net from individuals with stories eerily similiar to mine, I know that this company is capable of ripping people off.Very capable.I ask you, stopwhining, and the other sarcastic knob who responded by refering to my actions as "shenanigans": do you support paypal holding customers money indefinitely, and offering no customer service options to get it?
We asked paypal if they would do one or any of the following:
Call our bank to verify who we were
Credit our credit card that we used on the application
Send a check to us in the name of the original applicant (me) to the original address (mine)
They said no to all of these when we finally reached someone on the phone, after numerous fruitless attempts at email contact.
If you guys do work for paypal, make a suggestion as to how we can sort this out.That would be alot more constructive than sarcasm and facetious comments.
posted on February 4, 2002 05:59:33 AM new
I read these boards a lot and see a lot of information / points that are missed. How I see this.
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If you had just had the money sent to your original bank account (that is in your name) everything would of worked just fine.
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Where I see the problem, and can understand paypal receiving a red flag, is your account went up to a nice amount of money, and all of sudden the bank account information is changed to SOMEONE ELSE'S NAME (that might not even have the same last name as you) and account in a completely different country. This would put up a red flag to me.
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You again switched this back to the original bank account, but that doesn't mean the red flag with paypal is pulled off the flag pole. I would hope that if my paypal account has a switch to a new bank account with a different name than mine, paypal would restrict my account until it could be figured out.
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My suggestions for you - (I don't know what you have or have not already done). I would contact paypal (call if possible) with everything that you have done, even the truth about about trying to circumvent the exchange fees. I would then do your best in providing the bank information to paypal. You said it yourself "PayPal has every right" to ask for the information. Your sister agreed to do business with paypal, by allowing you to use her bank account for paypal. Work it out with your sister.
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[ edited by cegore on Feb 4, 2002 06:06 AM ]
posted on February 4, 2002 06:58:12 AM new
i do not work for paypal.
one question-can you ask paypal to credit your credit card with your paypal fund??
i think yahoo has a product called yahoo paydirect which will do so,but most do not.
if providing your sister bank information is what it takes to overcome this restriction,then ask your sister to do so.
my advice is that it is your hard earned money and i would not transfer that hard earned money into other people's bank account.
in this country,any money transaction of 10,000 or more is reported to uncle sam.
posted on February 4, 2002 08:32:36 AM new
I am in Canada.When I take my paypal money (which is in U.S. funds) and have it sent to a Canadian bank, then that bank charges a certain amount per dollar to exchange the funds from U.S. to Canadian.Its actually a bit of a rip off, which adds up to quite alot of money when you are dealing in thousands of dollars.So.....I figured, since my sister moved to Washington last year, that it would be a simple way to save a few hundred dollars, to transfer the funds to her instead.I can understand the "red flag" that came from this.What I cannot understand is the utter inflexibility from paypal after a restriction is imposed.
posted on February 4, 2002 10:18:14 AM new
another BUMP BUMP
be better once they are regulated then might consider using them again but until then not putting my hard earned cash with a company who makes up the rules and changes them as they go along
posted on February 4, 2002 10:33:58 AM new
By you stating paypal is not flexible, I assume you mean by paypal not releasing the funds without you providing your sister's bank account information.
A red flag is a red flag. Since you understand the "red flag", I would think that the information that caused the red flag needs to be proved as valid for them to feel it is safe now.
I can pretty much say that as when they are able to review the information from your sister all of you funds will be available for withdrawal.
posted on February 4, 2002 01:38:03 PM new
Since I can see the fraud warning flags that your actions would raise, even if you can't. I also see your mindset... if I support you I'm telling the truth, if I don't support you I'm a PayPal crony.
dmtsymphony posted on February 3, 2002 09:49:25 AMPaypal, is obviously a corrupt system, just look at all the posts on here.
dmtsymphony posted on February 4, 2002 02:22:37 AM I have come to the conclusion that paypal must be paying cronies to sit here and back them up when people complain about them on this message board.
posted on February 4, 2002 02:51:50 PM new
different countries,2 different bank accounts with different names in different countries,if this is not a red flag,what is??
are you selling on ebay??
i thought one time ebay wants canadian sellers to sell on ebay canada only,there is a thread last year of a canadian selling on ebay usa ,he sells jewelry and airline tickets.
some countries impose foreign exchange control and there is penalty for violation,i dont think canada is one of the countries.
countries like turkey,argentina ,india have restrictions on foreign exchange.
for example,indian company cannot ship goods unless payment has been deposited in an indian bank.
in this country car dealers report any one buying luxury cars with cash,banks report transaction of 10,000 or more to uncle sam.
there is also another thread last year of a canadian seller who sells cd from montreal and would like to drive across the border to ship media mail to save money,the thread was about shipping ,returns etc.
posted on February 4, 2002 08:22:38 PM new
Actually, we are a record label who decided to sell our records through our own website, and use paypal as our "bank".When we had sold out our first run of records, and decided to get our cash, we opted to use my sisters bank account in the states to save exchange fees, etc...etc...when my sister decided she didnt want to send all of her bank info to paypal, we decided to just go with plan A, which was to put OUR money back into our original Canadian account.
I could see paypal being suspicious if we were now asking for the money to be deposited in a third bank account, but we arent.We just want the money put back in our original Canadian account that we set up our paypal account through (credit card account).People seem to think that we acted out of order by asking for the money to be put in my sisters account but I dont really agree that it is suspect to do this given the circumstances.Canadian banks gouge customers on exchange rates, and we dont like to give the banks that much money.I guess that makes us criminals in todays corporate world.
posted on February 4, 2002 08:38:41 PM new
you said,We just want the money put back in our original Canadian account that we set up our paypal account through (credit card account/////////////////////
are you saying that you dont have a bank account registerd with paypal,you just have a credit card registered with paypal??
i am not aware paypal has the facility to deposit your paypal fund in your credit card account??
i know yahoo direct does,but i am not aware paypal does??
may be that paypal guy can answer that ??
given all that problems paypal has with chargebacks,this will just make things worse.
"So we entered my sisters account information into the appropriate fields, and soon recieved a notification from paypal that they needed photocopied documentation of my sisters bank account, including her balance and other types of info that are not relevant to paypal."
Registering someone else's bank account would raise fraud flags in our system.
We do not need to see the account balances,transactions,etc.
The statement must reflect-
a) name
b) account number
c) address
From the tou-
Reports of unauthorized or unusual bank account use associated with the account
Name on the bank account associated with the PayPal account does not match the name on the PayPal account
