Paypal

rotormotor

Hi, I have been on Ebay & with Paypal for some years. Recently I decided to sell my entire CD collection in dribs & drabs. Subsequently my Paypal account reached a certain turnover wherebyI had to re-confirm my bank account & validate my Paypal account details. All fine. A week or two later & they have now placed limitations on my account until I have submitted photo ID in the form of a passport or driving license & a proof of address via a utility bill. I have objected strongly to this on the basis that I am certainly not happy to provide such valuable documents to persons on the internet who I have never met before let alone spoken to.

However, they are refusing to budge & to add insult to injury I cannot withdraw any of my balance until they receive said information. How the hell are they allowed to do this? That money is my hard earned cash for my CD's. It's akin to theft & I have told them so.

Does anyone have any advice?

Many thanks.
Jules.

custardy

i take it you have hit the money laundering limits?

rotormotor

Hi & yes. Firstly it was £1200 & then £1700, this being the point that they wanted photo ID etc.. I'm outraged by their behaviour especially for blocking me from my funds which are rightfully mine.

gnaril

High horse..... get off it..

Sorry but you are using their service and if thats a restriction/security check they have in place you need to play by the rules, for all they know for the amounts going thru your account it could be dodgy.

It aint all that uncommon.

rotormotor

So, If I or indeed anyone else refuse to give the details, Paypal get to keep that persons cash? I don't know of any 'proper' bank which has such a policy.

pcombo

Paypal will never budge from removing limitations unless you provide whats asked. Plus paypal is not a bank.
"PayPal is an e-commerce business allowing payments and money transfers to be made through the Internet"

If you want you can get awkward and contact financial service ombudsman but this can take weeks uploading a few pics of your face takes minutes.

rotormotor

OK, but the question remains, do they get to keep the money?

catmiaow

They certainly won't allow you to access it without providing the information, I had to do this before.

pcombo

rotormotor wrote: »

OK, but the question remains, do they get to keep the money?

If you dont provide the details they will probably remove the chance to remove any restrictions on the account and hold the funds for 180 days.

Brooker_Dave

rotormotor wrote: »

Does anyone have any advice?

They make up a pretend EU money laundering law, and insist that you fire off scan/copies of your documents to America, which is a bit iffy, but sadly we all have to do it.

I doubt they take any notice of our data protection laws, and for some reason the OFT/FSA/Trading Standards etc allow ebay/paypal to do what ever they like, our regulators don't have the balls to stand up to them, which is lamentable.

And yes you won't see any of *your* money until you go through this farce.