Forever Profiting On Our Interest

What's the problem?

     PayPal has blocked our account. We're not able to transfer money from the account because PayPal's software doesn't allow us to change or confirm our details.

This is what PayPal says:

"Why is my account access limited?

Your account access has been limited for the following reason(s):

22 Jan 2011: You have received £1,900 or more in total payments to your PayPal account in this calendar year. PayPal is required by law to comply with European Union Anti-Money Laundering regulations by collecting information from customers when they receive more than £1,900 in total payments within a calendar year. Until you provide us with this information you will be unable to send or receive money using your PayPal account.

     Please go to the Resolution Centre for more information on what you need to do. When PayPal limits an account, your funds may be held until we've confirmed your identification as per the User Agreement."

Okay. Now what?

PayPal: "We are legally required to ensure that you complete the Direct Debit Agreement in order to link your bank account to your PayPal account for instant purchases and bank transfers."

     Okay, we go there and click the link. The name of our bank (Alliance & Leicester) shows up, but Alliance & Leicester has been taken over by Santander. PayPal's software won't allow us to alter this information. What do we do now? We decide to add a bank account (the Santander one) and click the link. A new screen pops up but the account holders name is already put in by PayPal's software, and PayPal's software won't allow us to change this name. Further more, PayPal says this: "Please note that we charge a fee if the funds are returned (to your bank account) because your PayPal account Business Name does not match the business name on your bank account."

     This means that PayPal's software doesn't enable to complete the Direct Debit Agreement, and when the Direct Debit Agreement isn't completed, we cannot touch our money and PayPal keeps profiting from the interest of our money. Forever.  This can't be right.

Jack Vanderwyk

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