posted on February 6, 2002 10:34:40 PM new
After months of research, I have collected over 3,000 peoples contact information who have had their PayPal accounts locked up. Some of these people that emailed me (and I didnt ask them for it) disclosed the amount of money that was being held.
This is just my personal opinion of what I believe is going on with PayPal.
It seems thousands of people are having their accounts locked up (FOR NO REASON). I have a very strong vibe that PayPal is going broke. By locking up thousands and thousands and thousands of dollars and not having to pay it out (probably because they dont have it to pay it out unless they finally go public)is probably what is keeping them alive. Of course you have large costs in operating a company of that magnitude. There are buildings, phone lines, utilities, employees (who are very rude), and I am sure chargeback fee's which can probably become enormous even if you have insurance for such a purpose, attorneys who they have to pay because of all this nonsense, and much much more expenses.
Why else would Paypal be locking these funds up so randomly? I bet there is a certain $ cap on the lockups that they are doing. I bet there is an employee who is probably keeping a very big secret right now. I'm sure he doesnt sleep well.
If Paypal goes public, perhaps that will turn around. I have a feeling they will dissapear before that happens.
My account is locked up right now too. Now I have:
1: Negative feedback on eBay for not sending my paypal payments to 3 sellers.
2: I was selling merchandise for 3 local companies I have contracts with to sell their merchandise on ebay (who now want to sue me because I cannot pay them because the money is locked up)
3: Attorney fee's I cannot afford to pay
4: 3 kids to support, and a bad reputation.
Damon, do YOU sleep well at night? This is what your allmighty employer has done to me, and THOUSANDS of others. And please, don't post a reply here, because I'm sure that out of all the selling and transferring fee's that have come out of my account in the last year was enough to feed you for quite a while. Too bad my family is starving.
And if paypal doesnt dissapear, I am sure there will be a force in numbers that comes along in the very very very near future that DOES shut paypal down.
posted on February 7, 2002 09:15:40 AM new
why does paypal lockup your account?
best way to use paypal is for small amount,when it gets to be a few hundred to a few thousand dollars transactions,it is better to have your own merchant account or cashier check.
offer to pay for that money order or cashier check or wiretransfer fee if you make enough money on that transaction.
