Paypal is holding over 600,000 euros from the minecraft developer

Post by nodata » Fri, Sep 10, 2010, 12:42 PM UTC

acabal wrote: post #6

shin_lao wrote: post #4

The "paypal blocked my money" stories are frequent. I'm curious to which extent this is legal. I'm pretty sure a bank isn't allowed to block access to your accounts without a formal request from a legal entity. Paypal doesn't "own" the money. This sounds to me as extremely abusive. Is that this frequent?

That's the rub--Paypal is not a bank . They can do whatever they want with the virtual money that is exchanged on their servers. Which is why a real merchant account is the only serious option for a larger-scale business.

Post by FooBarWidget » Fri, Sep 10, 2010, 12:43 PM UTC

byoung2 wrote: post #9

drtse4 wrote: post #2

Another Paypal horror story added to the list. If someone was wondering (as i did), no, he didn't let 600k on his paypal account. That's what he's earned since they limited his account 25th august. See http://twitter.com/Toucanator/status/24089600756 and http://twitter.com/xnotch/statuses/24089647124 . EDIT: Minecraft complete steam sales data,amazing: http://m00d.net/minecraft/sales/

It seems to me he could switch to Google Checkout or Amazon Payments in the meantime until the situation gets resolved.

Post by [deleted] » Fri, Sep 10, 2010, 12:45 PM UTC

acabal wrote: post #6

shin_lao wrote: post #4

The "paypal blocked my money" stories are frequent. I'm curious to which extent this is legal. I'm pretty sure a bank isn't allowed to block access to your accounts without a formal request from a legal entity. Paypal doesn't "own" the money. This sounds to me as extremely abusive. Is that this frequent?

That's the rub--Paypal is not a bank . They can do whatever they want with the virtual money that is exchanged on their servers. Which is why a real merchant account is the only serious option for a larger-scale business.

Post by Alex3917 » Fri, Sep 10, 2010, 12:46 PM UTC

shin_lao wrote: post #4

The "paypal blocked my money" stories are frequent. I'm curious to which extent this is legal. I'm pretty sure a bank isn't allowed to block access to your accounts without a formal request from a legal entity. Paypal doesn't "own" the money. This sounds to me as extremely abusive. Is that this frequent?

Post by stuhacking » Fri, Sep 10, 2010, 12:48 PM UTC

smutticus wrote: post #7

I bought Minecraft so I guess part of this money is/was mine. I never understand why people still use Paypal. There are so many horror stories and so many alternatives. Just don't use them.