Our PayPal Experience! In December PayPal froze our accounts for no legitimate reason and with no explanation. We no longer are allowed access to these accounts. To date they are holding $9,147.03 of our funds! Illegally! We have communicated with their various accounts & security departments over 60 times by phone, fax and email. We still have no explaination for the seizure of our money. No refund date has been given. However, they encourage us to continue using their logos on our website!
*How Does PayPal Make Money With My Money? According to the San Francisco Chronicle, there are approx. 100,000 complaints outstanding at PayPal.in many instances disputes can run on for months leaving people frustrated and out of funds as they are unable to access their accounts. So what happens to the millions of dollars tied up in frozen accounts and disputes? Well, here is a clip from the San Francisco Chronicle that basically sums it up:
"U.S. District Judge Jeremy Fogel of San Jose refused to dismiss a lawsuit that seeks class-action status on behalf of thousands of PayPal customers nationwide. A common allegation is that the company brushes off or stalls customer grievances for months and meanwhile freezes the customer's account and pockets the interest."
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