Paypal Restrictions and Withholding Funds

I’ve been having the problems with PayPal as osadu. I hate it. Also sold a record cleaning machine on here and unfortunately the cover got broke during shipment and PayPal is refunding buyers whole amount. 

Do your self a favor and just stop using PayPal.  What a rip off.  I stopped selling on eBay years a go because after eBay and PayPal took their cut, nothing was left.  

I’ve only sold one piece of audio equipment, The payer quickly sent the money via PayPal after receiving the component. I then had the same problem as osadu with Paypal not wanting to release the payment. After a series of emails to them and jumping through some hoops, they finally agreed to send the payment to me only if I connected my PayPal account to my bank account for direct deposit plus provided my Social Security number, Both of which I found to be outrageous demands.

After providing that information under protest to obtain the substantial payment I finally received the money. I cancelled my PayPal account the next day as they promised to delete the information provided along with rest of my account information if I did so. So hopefully my bank account and Social Security Number would now not be subject to being hacked. through PayPal like my Ebay account had been a number of years ago.

Mike

If you do a lot of transactions PayPal starts to think you are a business and holds funds for a while. I had a buyer pay me by e-check into PayPal and all hell broke lose. PP though I was a business and I had a lot of sales and purchase of audio gear so it did not look good. I called PP and sorted it out but I was messed up for about a week.

I had babysitter payments and other regular bills that were on hold until PP could reset my account after about 5 days. Lesson learned and luckily I do not plan on selling or buying any more audio gear.