PayPal - EBay Company
Ebay Put Limitations on my Seller Account and Holding my Money... Said they were allowed because they are Financial Institution!

I occasionally sell items I get from various sources (goodwill shopping, closed business auctions, etc.) via Ebay, referrals from previous sales, etc. I have always used Paypal to receive the payments from the sales of the items because they put themselves out to protect the seller, regardless of whether you use EBAY to sell the item.
Recently, Paypal limited my account because they said there was a balance from an old account that needed cleared up. I looked into the information they gave me and although I didn't entirely agree with them... I paid the negative balance they said that account had. Afterall they were holding the proceeds of over $1000. After a few days they took the limitation off my Paypal account, but never lifted the limitation on my Ebay seller account which left me to sell only to referrals or other sources.
Within 2 days of receiving funds for sales, that by the way were not through Ebay, Paypal once again puts a limitation on my Paypal account. The limitation said there were two other emails from other Paypal accounts that were attached somehow to my account.instead of letting that hold up my account even longer, I once again cut losses and paid them for that as well. But before they lifted any limitations they said items had to show as delivered before they would lift any limitations.
I quickly told the Customer Service rep, that after years of doing business with Ebay and Paypal, I HAVE NEVER HAD A COMPLAINT THAT I DID NOT SHIP SOMETHING I SOLD.
Now they are holding over $1200 of mine and are saying they have to verified these items are received before they will release any of the funds in my account.
Did I mention that I told the Customer Service rep that I (out of my own pocket, not the buyers) put insurance and signature confirmation on all the packages. But she said it didn't matter and in her words "we are allowed to hold the funds when you are dealing with a Financial Institution"... WHAT??? A financial institution? I researched all the reasons why Paypal reportedly gets away with this kind of thing and it was because they weren't "a financial institution" and held to the same regulations of a financial institution. I bet the Federal Reserve would like to know the reasoning they gave me today.
Now they are a shipment tracking company as well... Go figure! It's funny when you can go to California's BBB site and they rate them as a A rating, but they had over 7200 complaints and the TRUSTLINK on the BBB site (when you click on it) has them rated a only a (1) one star rating. Wow, Toyota didn't even have to have that many complaints before they were brought in for inquisition having to answer to the government. Also, under the BBB of California there is a contact name given as Kyle S (last name left out for privacy) and a phone number that is just a line to the same customer service automated site I have already been directed to without any resolution to the issues.
I wanted to put my story out there as I begin the Multi-Faceted complaints to the US Federal Reserve, the state (s) Attorney General of my state, California and the states of the individuals who purchased from me, then onto the individual BBBs.
Paypal isn't limiting my account because of negative balances now, which is what they orginally stated the reason is... Now they say I have to wait for shipments to be received, which that limitation was added later... (AND I HAVE NEVER HAD A COMPLAINT THAT I HAVEN'T SHIPPED SOMETHING).
Paypal needs to stop lying to people about why they are holding accounts and limiting my Ebay account over something totally not associated to Ebay what-so-ever.
If you do business with Paypal... BEWARE! Once you get an account limited, your money is gone! Good Luck.

Company: PayPal - EBay Company
Country: USA
State: California
Address: San Jose, California
Phone: 8882211116
Site: paypal.com

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