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Thread: 20% rolling reserve on our account

  1. #1
    Shamus Guest

    Default 20% rolling reserve on our account

    Paypal witholding 6000 of our companies money, with the figure rising every day due to a 20% rolling reserve on our account. Refusing to release for at least 6 months. This figure will grow to at least 12,000 by this point, which will likely put us out of business. Going to sue them, but unsure of best way to do without excessive costs.

  2. #2
    Unregistered Guest

    Default

    Before suing them check their user agreement, I am pretty sure it is in there that they can apply a reserve when they feel necessary. See if your Financial Ombudsman can help ypu. Sometimes people have better luck contacting the FO then trying to work itt out with Paypal.

  3. #3
    Unregistered Guest

    Angry

    Quote Originally Posted by Shamus View Post
    Paypal witholding 6000 of our companies money, with the figure rising every day due to a 20% rolling reserve on our account. Refusing to release for at least 6 months. This figure will grow to at least 12,000 by this point, which will likely put us out of business. Going to sue them, but unsure of best way to do without excessive costs.

    You are lucky, i have 40% rolling reserve for 45days, the limitation had to be for 180 days, now it is 300 days later, still no answer from them.

    Having around 3-5000 limited at anytime. Had a car accident few months ago, needed to pay 3500 bills to fix my car, but cant use the fucking money from my paypal....
    The police wanted to tow my car, as they said it was abandoned.

    They do not mess with your online business, but with your real life as well.....

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