4 ms·
It really perplexes me as to how paypal can get away with withholding money from people. What is stopping them from simply picking accounts at random and saying
by CaveTech 15y ago
It really perplexes me as to how paypal can get away with withholding money from people. What is stopping them from simply picking accounts at random and saying, "actually, I don't think you deserve this money, so we'll keep it."
- daemin 15y agoI think they legally have to refund the money, although it would seem that they keep the transaction fees still.
- dangrossman 15y agoWhen PayPal terminates an account and holds the funds, they're returned after 180 days. The same as any merchant account that's terminated. It's to cover potential chargebacks, which can come in months after the fact -- though they really shouldn't do that when the only payment the frozen account received wasn't funded by a credit card.
- quicksilver03 15y agoDoes anyone known if when PayPal returns the held money they also pay the legal interest? Or if they have some specific clause in their contracts that allows them not to?
- dangrossman 15y ago"legal interest"? Reserve accounts at any merchant account provider I've ever heard of are non-interest-bearing. It's probably a requirement of the Visa/MC Operating Regulations to de-incentivize creating them without cause.