PayPal and it’s policy
Everyone who has been dealing with making money online knows or has heard about PayPal. And when we hear “PayPal” we automatically think about the best and only money sending/receiving system online. But since PayPal is a monopoly sometimes we must encounter some really disappointing actions that don’t make any sense at all.
I have read that many people had or have problems with PayPal, and PayPal totally doesn’t even answer their complaints, limit their accounts, freeze their money and so on. I had a situation when I was just starting out with affiliate marketing, that PayPal froze my account for like 1 and a half month because of too big incoming funds than normally, we got clear, and everything is clear since then. PayPal sometimes just freezes your account without no real reason at all, rumors are that they hold the money on purpose and so on. But the average mortal human will never really know what’s happening there. I can only say that if PayPal would freeze my account it could hurt my online business really hard, because 80% of my cashflow goes via PayPal - I know I need to fix that.
Anyway enough with the crying and complaining, I will give you some easy and simple steps to avoid an unwanted f*ck in the butt by PayPal.
- Always tell PayPal that your IP address can suddenly change if you’re out of the country. PayPal will start to look at you with a suspicious look if your IP that you log into your account will change to a different country’s IP suddenly.
- Inform them if bigger incoming funds are planned. I do this all the time when I release a new product in a niche, for example if you everyday receive $100 into PayPal, and one day suddenly you have $50.000 incoming funds because of a product launch, PayPal can and probably will freeze your account and start an investigation. Always inform them that more funds than usually are planned and explain how and why you will receive the money.
- Always inform them that you’re changing your physical address. If you will suddenly change your physical address PayPal may look suspicious at you as well, inform them that you have moved to another living spot and only then change it in your profile’s screen.
- Avoid dealing on eBay with suspicious sellers. I have heard that PayPal can just freeze your account if you will buy a suspicious item from a suspicious seller. “Suspicious items” - cell phones, shoes, watches and other items that are easily to fake and scam.
These are one of the main reasons why PayPal freezes accounts, and of course, there are many unknown factors that can influence this. Oh and by the way, remember - PayPal is not a bank, so PayPal does not stay under the international and federal laws that all of the banks stand under. For example if you have problems you can go to national or international institutions and complain that a Bank did not do something right. Well if PayPal did not do something right, guess what - nobody can’t do nothing about it, because PayPal is not a bank, the only way how you can complain is getting a lawyer and sue them - that’s all.
So be careful, and always inform PayPal if you have planned some changes or whatever.
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This entry was posted on Monday, November 10th, 2008 at 2:59 pm and is filed under World Wide Web. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Paypal is absolutly horrible! I have had nothing but problems with them and would not use them if my life depended on it. They are known for freezing accounts with large amounts of money, and guess what happens to your money when that happens? They will hold it for 6 months and give you the option to refund all of the money! Good luck ever seeing your money if that happens.
Tara, it really is so.
I mean, people still think if PayPal is going to freeze their money or do anything else with the money, they think that they can just complain. But they don’t know that PayPal isn’t a bank. So it means that PayPal doesn’t go under the international and federal banking system. It’s just a company.