Just before Christmas last year, we had accumilated £20K of money in our Paypal account before moving it to the bank.
When we tried to transfer it to the bank.........
Paypal put a freeze on our account and gave us the Spanish inquisition. Questions like.....
"Where do you get your stock from"? (None of thier F&cking business).
"Who are your suppliers"? (None of their F&cking business).
"Where did you get these 10 items from"? (Item numbers picked at random which were very time consuming to justify).
We had to fax invoices for stock that we have bought. (None of their F&cking business).
We had to obtain references from fellow traders. (We are not F*cking drug dealers).
Some items we sold that we have taken from our very own garden shed, as you do. (None of thier F&cking business).
And what happens if we could not provide a receipt for the old lawn mower uncle bob gave us????
So what happens if someone gave us an old impreza spoiler, as they have bought a new spoiler and the old one is in their way, so they give it to us???? Where do we get the receipt from???
A slightly unreasonable demand if you ask me.
Do you think that all they really wanted was to keep hold of OUR money for as long as possible to earn interest on it? Your guess is as good as ours.
It reads business seller with ebay shop and over 1000 feedback over our name. We are not abdulla ach ach ach from Nigeria.
If Paypal was next door that day there may be a few broken noses I can assure you.
Staff had to be paid. Bills had to be paid. Stock had to be bought.
They hide behind their terms and conditions and think they can do what they like.
So be warned!!!
Dont accumilate money in your paypal account as you never know what games they may play next. If you watched the WATCHDOG programme on tv at about that time, we are not the only ones that they pulled this stunt on. There is of course, numerous scammers trying to remove your money anyway.
Hope you learned something from our bad experience. The choice is your!!!
Its all fun and games til it goes pear shaped. What if we did not have any other money to back up our company? We would have to declare bankruptcy???