Pay Pal and E-Bay Complaint - Pay Pal The New Mafia
CALIFORNIA -- Pay Pal placed a hold on 1209.33 of my money from items I sold on E-Bay. They send me a e-mail and explain that I must provide proof of sale from the items I sold like I am a criminal. This is a privacy issue as far as I am concerned.
I have a right to protect how I earn my money and not give away my trade secrets.
Pay Pal is only a accounting business not a Bank, Law firm, or Police Department.
They are not licensed to even make money off interest from sales. They need to be federal regulated. The Attorney General needs to look into these matters:
1- What the percentage is of how many accounts are placed on hold 180 days.
2- What happens to the funds when this is done.
A- Do they move these funds on the market to make a profit?
B- Do they move these funds in a escrow account?
If the funds are moved are they obligated to pay interest for the funds that are locked out from their customers?
I received a final letter from them that said they will no longer do business with me does that not terminate my account and on demand they must return my money from items I sold..
I have letters from all my buyers and every item I sold they were all very satisfied with the items I sold them. Any chargebacks that could be filed is pass the date sold that could be filed even if that was not the case. Would not matter because pay pal does not pay for the chargebacks because they are not a bank.
So let us define what is pay pal. A third party that takes money and makes money off that money.
Sort of like a bookie? The Mafia? Defined perfectly.