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I am in a position to hear a lot of comments on Paypal from freelance artists, and I often hear of them freezing someone's account over some transaction or for
by kayfox 11y ago
I am in a position to hear a lot of comments on Paypal from freelance artists, and I often hear of them freezing someone's account over some transaction or for no expressed reason at all. I often wonder how they can get away with this, I would imagine if a bank did this they would be in hot water quickly with a regulator. It all seems a bit shady.
- rodgerd 11y ago> I often wonder how they can get away with this, Regulation bad! Disruption good! Magic of the marketplace!
- URSpider94 11y agoMerchant account banks do this ALL THE TIME. It's standard business. See here: https://www.reddit.com/r/smallbusiness/comments/320bbd/my_merchant_account_provider_is_holding_over/ https://www.reddit.com/r/smallbusiness/comments/320bbd/my_me... or here: https://chargebacks911.com/knowledge-base/what-is-a-merchant-account-reserve/ https://chargebacks911.com/knowledge-base/what-is-a-merchant... or here: http://www.cardfellow.com/merchant-account-holds/ http://www.cardfellow.com/merchant-account-holds/
- scott_s 11y agoThis is the key point: PayPal is not your checking account. PayPal is more like a merchant account which voluntarily takes on much more risk than most banks are willing to in their merchant accounts.