141–150 of 160 posts
He got his account reinstated - https://twitter.com/dannypostmaa/status/1757411996989825200
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Businesses will abuse you like this unless you know how 1.] to sue 2.] how to make a threat to sue sound credible 3.] be strong on #2 with articulation on punitive damages. A well written letter can get things moving pretty quick.
As I wrote on another thread: PayPal is exploiting the fact that they exist in several jurisdictions. So you don't just need to be able to sue. You need to be able to sue across borders, several borders – Good luck with that.
Not enough information, no context. PayPal has terms of service and laws they have to comply with. Probably a story here but unlikely PayPal just shut him down and kept his money for no reason .
You can find other examples of this with PayPal, Wise and others online. Hiding behind KYC/AML laws makes these bans completely opaque in every possible scenario. Whether or not you think Danny is innocent or not, the point is not even he could know why there's suddenly a problem. There's no recourse.
I have nightmares about this. The comments here saying that PayPal is just for hobby projects and should be avoided are living in a different reality. For me (e-commerce business, mainly in Germany), PayPal makes up around 70-80% of revenue and isn't easily replacable. I'm sure some customers would whip out their creditcard (if they even have one) or enter their long IBAN bank account numbers for direct debit, but ma…
> The convenience of PayPal is unmatched Every time I see PayPal, I hit the 'nah, just let me fill in my card details'. I think you're overestimating their worth, and underestimating both your customers and the competition. As someone already pointed out: "Stripe/Google Pay/Amazon Pay" are available, to name just the most recognisable ones. There are others with better fees!
As a developer, PayPal is the worst, so many horror stories of money frozen.
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Your example is where naive business hits the wall of reality. Collecting money for events is the archetypal high risk credit card processing business. You get to spend all the money in advance, while the processor holds your chargeback liability that will only come due after your cash flow dries up Every processor mentions this in their t&c. Events require special underwriting.
The real problem is that the possibility of chargebacks makes every transaction uncertain. Chargebacks are an ugly fix to a broken system. Direct payment is better in nearly all situations. The one exception being dishonest merchants, but I don't think that's something you can really fix without lawsuits and/or police.
The last part has become increasingly difficult. A merchant might be honest, but if they don't have customer support and do not reply to issues, that's indistinguishable from dishonesty. For the first 20 years of having a credit card, I had to do one chargeback: an online "merchant" who was totally fraudulent. In the last 2-3 years, I've had to do about 4 chargebacks, and it's mostly otherwise-legit companies ghosting me.
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Seems like he deleted that tweet and reposted it here https://twitter.com/dannypostmaa/status/1757411405266067865
I have nightmares about this. The comments here saying that PayPal is just for hobby projects and should be avoided are living in a different reality. For me (e-commerce business, mainly in Germany), PayPal makes up around 70-80% of revenue and isn't easily replacable. I'm sure some customers would whip out their creditcard (if they even have one) or enter their long IBAN bank account numbers for direct debit, but ma…
What about adding Stripe/Google Pay/Amazon Pay as a choice, or if you have enough revenue history VISA etc through a merchant account. The real issue is that if you start getting chargebacks - you will be liable for them. A bank might ask for payment, Paypal just grabs any money in your account and locks it. If you keep an eye on the level of chargebacks you should be able to sleep better!
Plus, as far as I can tell, Google Pay only works on mobile phones.
Earlier quoted context omitted.
You can find other examples of this with PayPal, Wise and others online. Hiding behind KYC/AML laws makes these bans completely opaque in every possible scenario. Whether or not you think Danny is innocent or not, the point is not even he could know why there's suddenly a problem. There's no recourse.
That's just speculation. We don't know if PayPal "hid" behind KYC/AML laws. More likely the account got too many chargebacks -- I've seen processors cut people off for that reason, but after multiple notices. I don't know what happened, just what the victim posted, but that's not enough to know the chain of events. Accusing PayPal of closing an account and keeping $80k with no additional information seems like a seri…
We all suck it up and move on so we can make money, but that doesn't make it any better.
The guy just got is account back. But this thread is now hidden on HN's frontpage. This is an isolated case, do not expect Paypal to solve your issues if you don't get this level of visibility.
Earlier quoted context omitted.
What about adding Stripe/Google Pay/Amazon Pay as a choice, or if you have enough revenue history VISA etc through a merchant account. The real issue is that if you start getting chargebacks - you will be liable for them. A bank might ask for payment, Paypal just grabs any money in your account and locks it. If you keep an eye on the level of chargebacks you should be able to sleep better!
Do any of those support German bank accounts? (PayPal does) Plus, as far as I can tell, Google Pay only works on mobile phones.
What do you mean? I regularly use Google Pay on various websites on desktop.