paypal restricting account - consumer rights?

bris

The money will be released in 180 days, they do all the security checks for money laundering etc and you can't reverse it until they are satisfied there is no fraudulent activity going on in your account.

shaggy

looks like bris and techspec maye have answered the question. The money is being held for 180 days and they wont release it. Was just wondering if there is anything that can be done to reverse it? They wont give any reasons as to why they are holding this which is annoying.

ValHaller

shaggy wrote: »

looks like bris and techspec maye have answered the question. The money is being held for 180 days and they wont release it. Was just wondering if there is anything that can be done to reverse it? They wont give any reasons as to why they are holding this which is annoying.

Could take it to the small claims court. If they have not said it will be released in 180 days, this is the best place to take it, I think

shaggy

ValHaller wrote: »

Could take it to the small claims court. If they have not said it will be released in 180 days, this is the best place to take it, I think

They have said it will be released in 180 days. But its frustrating not knowing why they have held the money. They asked for proof of ID and bank statements which were faxed and emailed to them but for some reason theyre still not happy but are not giving any reasons.

techspec

shaggy wrote: »

They have said it will be released in 180 days. But its frustrating not knowing why they have held the money. They asked for proof of ID and bank statements which were faxed and emailed to them but for some reason theyre still not happy but are not giving any reasons.

They would make life easier if they told people - but they think it compromises their security procedures - and helps others bypass their rules.

The 180 days is because people who paid your friend could issue a chargeback within 6 months - so the money is kept in case any refunds are required. I have heard if it being challenged - and paypal paying out early - but most people wait the 6 months. My nephew did. He got his money back AND his account re-instated.

shaggy

techspec wrote: »

The 180 days is because people who paid your friend could issue a chargeback within 6 months - so the money is kept in case any refunds are required. I have heard if it being challenged - and paypal paying out early - but most people wait the 6 months. My nephew did. He got his money back AND his account re-instated.

We are in no way waiting 180 days here a complaint to FSA is forthcoming if they don't resolve this amicably. I have read about people winning their case in county court too so that may be an option as well

On_My_Lonesome

If it is suspected money laundering and from what you have said they may well suspect that they are legally not allowed to tell you. If they did tell you they could be charged with an offence themselves.

arcon5

The chargeback limit is 120 days - not sure if this is different for unauthorised transactions or not though.

Somebody did initiate a small claims against PayPal for refusing to release funds like such, can't remember if it was this forum or another, a out a year ago I think and paypal paid them their money before it got to a hearing. The case could have been a load of baloney I don't know but if this is what it takes to get to the money I fear you are on to a looser unless you are prepared to go the whole yard

ValHaller

On_My_Lonesome wrote: »

If it is suspected money laundering and from what you have said they may well suspect that they are legally not allowed to tell you. If they did tell you they could be charged with an offence themselves.

Which would make an interesting Small Claims court case I would love to hear about. The money Laundering regs will put them in conflict with the Civil Proceedings Rules

Fire_Fox

shaggy wrote: »

They have said it will be released in 180 days. But its frustrating not knowing why they have held the money. They asked for proof of ID and bank statements which were faxed and emailed to them but for some reason theyre still not happy but are not giving any reasons.

You have been asked several times if the gift option was used, with the implication you may not have used this option correctly. It's frustrating for us when you repeatedly say how frustrated you are whilst ignoring questions. Have you now read all the terms and conditions and are you sure you complied with them all?

If you are paying wages/ salary or for a purchase (eBay or not) then it should probably be invoiced not gifted which means Paypal take a cut, I have a hunch you will have tried to avoid this given there was a daily payment. Alternatively they may have thought a daily payment was money laundering which TBH is not unreasonable, it's pretty rare to get wages that way.