Paypoo account limited

StaffsSW

I see our resident[STRIKE] half-wit [/STRIKE] troll hasn't been PPR'd yet, but from what RFW has quoted, that link refers to the Money Market accounts in the USA which were completely different to the Paypal accounts that we use with eBay. These were withdrawn from their porfolio last year however. - http://www.examiner.com/article/paypal-will-no-longer-offer-interest-earning-money-market-accounts?cid=PROD-redesign-right-next

Given how many sellers are susceptible to 21 day (and 180 day holds in some cases), and coupled with the PP Merchant services rolling reserve (typically 50% of credit card revenue for up to 60 days) on credit card payments, you would expect these vast sums of interest to be declared somewhere on their quarterly and annual financial results - the same ones that are audited to international standards and distributed to shareholders etc.

If somebody wants to extrapolate the data on the vast sums of interest earned from these many published results, http://investor.ebayinc.com/financial_releases.cfm then feel free. But I already know the answer.

But why let the facts get in the way of a misguided opinion and conspiracy.

StaffsSW

Also, businesses are registered in Luxembourg for the tax advantages, but their banking processes are perfectly transparent.

If they had registered in the Cayman Islands or somewhere like that, then maybe there could be a shred of credibility in some claims, but again, many people seem to fail to recognise the differences between fact and opinion.

londondealer

soolin wrote: »

If the weather ever improves you could do car boot sales

That in all seriousness might not be a bad idea.:T

reeree

thelawnet wrote: »

I received £1900 to my paypoo account, and predictably enough they are messing me around. My account is 'limited', which means I can't do anything until it is resolved. However, as you can see:



I've jumped through all their hoops, but it still says I need to do more, even though all the to-do items are crossed out.


Any ideas what I need to do?

i had exactly the same thing happen to me so l phoned them, when they checked my account they said l had done everything that needed to be done and lifted the limit on my account right away, it took less than a minute

thelawnet

soolin wrote: »

Steve, I think the answer is already there, they call it 'paypoo' which shows how much they understand.

I don't really know what that's supposed to mean. Paypal are a crappy organisation and so I call them paypoo.

I would certainly rather have the money in my bank account, but it wasn't possible.

StaffsSW

Paypoo!!!!! hahahahahahahahahahahahahahahahahahahahahahahahaha!!!!

I geddit now!!!! That is an amazing play on words! I salute you.

I can't believe that nobody has ever come up with that before....

thelawnet

stevew8975 wrote: »

Paypoo!!!!! hahahahahahahahahahahahahahahahahahahahahahahahaha!!!!

I geddit now!!!! That is an amazing play on words! I salute you.

I can't believe that nobody has ever come up with that before....

You're obviously a big time fan. Good for you.

real1314

eBayRipOff wrote: »

Do they keep it with some financial institution?
Yes, FACT! Highly likely.

You are funny! FACT!
Clouds are made from metal! FACT!
Planes can fly though metal! FACT!

(disclaimer: all FACTS are highly likely).

:cool:

toffe

RFW wrote: »

Paypal don't earn interest on held funds and as a financial institution aren't allowed to within the UK.

paypal are NOT a UK financial institution, they are not regulated by the FSA, or any other uk body.

Make no mistake, you are dealing with a foreign company when you deal with paypal, a very secretive foreign company and you don't know what they do with held funds, there is no conclusive way of determining what happens to, or where those funds are held.

all you can be sure of is that, as a totally unregulated company in the UK you have scant protection if things go wrong.

but, you can still sue them through the small claims court for the release of your funds as companies that trade in the uk are answearable to UK courts but its all on you to fight them, the governing bodies in the UK don't govern paypal so they cant and wont help you.

RFW

toffe wrote: »

paypal are NOT a UK financial institution, they are not regulated by the FSA, or any other uk body.

The FSA have their own department for Paypal. Paypal volunteered to be regulated by them, to date they have not gone against any FSA rulings. If you have a complaint against Paypal you can complain to the FSA who can, if necessary, make a ruling that Paypal will abide by. There's another thread on here where someone has done just that.