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

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111–120 of 182 posts

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

#111
We need some way to force paypal to stop defrauding honest people (as well as being faster, but that isn't such a big problem).

Unfortunately there doesn't really exist a good alternative outside the US.

Anybody knows how to start lobbying against paypal?

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

#112
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/

I find it interesting that in limiting the account, they still allow deposits but not withdrawals along with a threat of keeping the money. If they were truly concerned about that something fraudulent was going on they would not allow people to deposit money in either.

I wonder how much money PayPal has made keeping so-called fraudulent money in their coffers.

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

#116
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?

Can anyone explain how PayPal is not constantly in court defending against class action law suits? No lawyer anywhere has considered the possibility of a massive payout from representing all of the clients over the world whose money PayPal has swallowed without explanation? Or, somehow, PayPal has managed to craft contracts so legally airtight that they can do absolutely anything with anyone's money with absolutely n…

They do sometimes get sued, though nobody's been hugely successful yet. Someone filed a class-action suit a few months ago over the holds issue, but I haven't been able to find any follow-up (e.g. whether it got certified as a class-action, dismissed, etc.): http://www.auctionbytes.com/cab/cab/abn/y10/m06/i08/s02

They were also sued in 2002 over the same issue, and settled in 2004 for the rather small sum of $9m, though they did also agree to modify their hold policy as part of the settlement (whether they've followed the terms of that agreement, I don't know): http://www.settlement4onlinepayments.com/injunctive.pdf

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

#117
We operate a large site with thousands of PayPal payments per day. This is a sample email we just got from PP:

Hello ....,

We were recently notified that a payment you received was reversed by the buyer's bank.

As a result, we have reversed the following transaction: Transaction date: xxx Transaction amount: xxx USD Buyer's email: xxx Buyer's name: xxx Your transaction ID: xxxx

PayPal is committed to maintaining a safe environment for our buyers and sellers. You can help protect yourself against claims and reversals by following the guidelines of our .

Thanks,

PayPal

Note that their email template has a bug: it says " following the guidelines of our ."! Cannot they fix their email templates? They are dealing with f..ing real money! The Viagra spam that I get has less bugs in their email templates!

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

#119
post #78

Earlier quoted context omitted.

That would indicate to me that either PayPal are exploiting a monopoly position, or there is a massive gap in the market for a fast, easy payment system that doesn't treat serious customers like dirt. You're missing the third possibility, which is that efficiently doing what PayPal requires requires "treating serious customers like dirt." PayPal is in the business of efficiently detecting and not paying for fraud. On…

> Their strategy for this seems to be to make people jump over a low paperwork barrier, then wait long enough that the payments have all cleared before they pay out. I wonder why they don't just do this by default? Personally I would not be offended at all if they just had a status on the payments called "waiting for payment to clear."

Consumers can reverse credit card payments up to six months out.

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

#120

We've been going around in circles with stories like this for years. In spite of all the horror stories, people are still using PayPal. That would indicate to me that either PayPal are exploiting a monopoly position, or there is a massive gap in the market for a fast, easy payment system that doesn't treat serious customers like dirt. I completely understand the Googley argument that you can't provide much customer s…

They probably also make a fortune on the interest accrued. I wonder if they defer to freezing accounts so easily is because they realize that it's easy money.
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