Can't get my money

[bobby1981]

Withdrew money early October from my paypal account totally $800. First they claimed it can take up to 10 days for money to get to Canadian bank accounts then they claimed to put a tracking request on both payments and now they claim it will take up to 42 days. I contacted my bank and they said it doesn't take this long. They either haven't put the transaction through or they sent it to the wrong account. Should I start the small claims court route? Thanks.

[IGoToXS]

Withdrew money early October from my paypal account totally $800. First they claimed it can take up to 10 days for money to get to Canadian bank accounts then they claimed to put a tracking request on both payments and now they claim it will take up to 42 days. I contacted my bank and they said it doesn't take this long. They either haven't put the transaction through or they sent it to the wrong account. Should I start the small claims court route? Thanks.

PayPal will hold onto your money as long as they can and claim a variety of reasons for doing so. You see, PayPal is not a bank and they don't have to follow any banking rules. So every day that you don't have your money and they do, they make money using your money, interest free. Just imagine how much money money PayPal can earn in 30 days if they don't allow thousands of people access to say, $10,000,000. It boggles the mind but it is a fact of life if you use PayPal.

If you want to lose some of your money, sue them. You can't win. You just have to wait it out and learn from the experience.

[smiley881]

What do you mean Paypal isn't a Bank.If they aren't a Bank then what are they doing making Transactions?This is the second post I have read stating that Pay Pal isn't a Bank.Paypal ran into some trouble a couple of years ago about Sellers not receiving compensation for their products.It was reported that Pay Pal told the Government that they didn't know anything about it.

[IGoToXS]

What do you mean Paypal isn't a Bank.If they aren't a Bank then what are they doing making Transactions?This is the second post I have read stating that Pay Pal isn't a Bank.Paypal ran into some trouble a couple of years ago about Sellers not receiving compensation for their products.It was reported that Pay Pal told the Government that they didn't know anything about it.

PayPal is not a bank. I don't know what other English words to use that says that. Your funds are not insured by the FDIC while at PayPal. PayPal does not have to follow or abide by the same rules that banks do. PayPal does not pay interest. PayPal does not loan money. You cannot get a mortgage from PayPal. You cannot get a car loan from PayPal.

PayPal is not a bank.

[gimpy]

So perhaps they are an Escrow company?

My daughter writes short opinions on music. She is paid $20 per if it get's enough action. She has sold two. $40.

To get her money from PayPal, she is offered two options.
1) Give them your personal banking account and routing numbers and we'll transfer the money.
OR
2) We'll send you a check in the mail.

We took option #2.

But they won't even allow us to continue our request for her money unless we provide a credit card or debit card account number.

For them to send her, her own earned money, from a PayPal account she had to create in the first place to get paid. But they want a verified credit account so they can "verify a valid address." For an account that was already created by them.

Attorneys?

What is a third party that is between a buyer and seller that holds the money between the two until the product is received before letting loose of those funds?

Everyone has laws governing them.

[kitana]

Even i couldn't have any PP account yet.

[kristy08]

i think small claims is good option for you

[gimpy]

i think small claims is good option for you

DUH! You are right. Small Claims Court is perfect. For those that don't know, it's actually fun. It's been a few years but it's like riding a bike.

Thank you.

[PayPal-Terminator]

Since PayPal would send a collection agency after you, if you owed them anything. We would send a collection agency after PayPal! Establish proof of debt owed, what the funds were for, state that PayPal is a money transfer service, if its for products that you have shipped, send the collection agency the original invoice and proof with tracking that the product was shipped to the confirmed address of the buyer. And the email that PayPal stated they were stealing your money.

File a complaint with the BBB, the Attorney Generals office in both Nebraska and California, contact the Federal Trade Commission. Fax all that to PayPal and call them immediately and tell them what you did. Also state your contacting the local newspapers where PayPal operates.

[gimpy]

Wow! A lot to think about.

It seems a lot less work and more fun to go the small claim route, if that is possible.

If not, I'll try your advise. But know that I appreciate your efforts.