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do you think paypal is using "frozen" funds while in dispute?

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trance247

Senior member
First time you file complaint, unless you escalate it may take almost a month before they clear the funds. If after one month you manage to file for dispute it takes almost another month to settle in either favor.

I know they "freeze" the funds, but I have hard time believing that they are not using this money in the mean time same as bank would...does it make this illegal?
 
Originally posted by: trance247
First time you file complaint, unless you escalate it may take almost a month before they clear the funds. If after one month you manage to file for dispute it takes almost another month to settle in either favor.

I know they "freeze" the funds, but I have hard time believing that they are not using this money in the mean time same as bank would...does it make this illegal?
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you need to read up on how deposits work. your "balance" that you see is just a number that represents how much they owe you for letting them borrow your deposit.
 
While Paypal is not a bank (at least not here in the US), it operates much the same way as a bank does. There is nothing illegal about what they are doing. It's all in their terms and conditions which you agreed to when you signed up, or that you agreed to by not canceling your account every time they revise it.
 
Originally posted by: DayLaPaul
While Paypal is not a bank (at least not here in the US), it operates much the same way as a bank does. There is nothing illegal about what they are doing. It's all in their terms and conditions which you agreed to when you signed up, or that you agreed to by not canceling your account every time they revise it.
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how the hell does paypal get away with this?
 
i hate them with passion and the bs 21 day rule they have now, i wonder how many lawsuits will it take to smear them completely
 
Originally posted by: rasczak
Originally posted by: DayLaPaul
While Paypal is not a bank (at least not here in the US), it operates much the same way as a bank does. There is nothing illegal about what they are doing. It's all in their terms and conditions which you agreed to when you signed up, or that you agreed to by not canceling your account every time they revise it.
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how the hell does paypal get away with this?
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Because their users agree to the terms when they sign up for the service.
 
Sorry to hi-jack 😱



I asked a paypal rep a question.

I started off with:

"When I buy something you take money from my bank account right away"

"When I transfer money from paypal to my back it takes a minimum of 4 working days for me to get the money"


Why is this I asked ??


The rep said the Government has a clearing house that keeps the money and they have no control over it......


😕
 
Originally posted by: winr
Sorry to hi-jack 😱



I asked a paypal rep a question.

I started off with:

"When I buy something you take money from my bank account right away"

"When I transfer money from paypal to my back it takes a minimum of 4 working days for me to get the money"


Why is this I asked ??


The rep said the Government has a clearing house that keeps the money and they have no control over it......


😕
Click to expand...

:Q
 
The moral: Never keep money in your paypal account. As soon as you receive some, transfer it to your bank account right away.
 
Originally posted by: Acanthus
Originally posted by: winr
Sorry to hi-jack 😱



I asked a paypal rep a question.

I started off with:

"When I buy something you take money from my bank account right away"

"When I transfer money from paypal to my back it takes a minimum of 4 working days for me to get the money"


Why is this I asked ??


The rep said the Government has a clearing house that keeps the money and they have no control over it......


😕
Click to expand...

:Q
Click to expand...

😕
 
Originally posted by: gevorg
The moral: Never keep money in your paypal account. As soon as you receive some, transfer it to your bank account right away.
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Good to know, I had like 1k in there as it was US funds. I waited until our dollar takes a dump before transfering it so I make money out of it.

So it was a bad idea to keep that much money in there? 😱
 
Originally posted by: CallMeJoe
Originally posted by: rasczak
Originally posted by: DayLaPaul
While Paypal is not a bank (at least not here in the US), it operates much the same way as a bank does. There is nothing illegal about what they are doing. It's all in their terms and conditions which you agreed to when you signed up, or that you agreed to by not canceling your account every time they revise it.
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how the hell does paypal get away with this?
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Because their users agree to the terms when they sign up for the service.
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Just because the user agrees doesn't mean the terms are enforceable or will hold up in a court of law.
 
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