PayPal: Horror Stories

India
January 2, 2007 10:41am CST
Frozen accounts, double dipping, class action lawsuits, fees!!!I was shocked when i learned that paypal has more lawsuits than michael jackson and tacobell combined!!! there is actually an Anti-PayPal Community, i have not yet withdrew any amount from paypal, but after reading from the link below, i have my doubts whether my money is safe!!!!the story that had me shocked the most was when they froze the katrina hurricane relief funds, thats just low!!!http://www.paypalsucks.com/http://paypalsucks.com/forums/ Personally i dont know if any of this is actually justified, but just thought that mylot community should know about these allegations of frauds and lawsuits that paypal faces!!!
5 responses
• India
3 Jan 07
friend i too have not received money but paypal is safe
@kellahinx (372)
• United States
2 Jan 07
When I decided to open a paypal account I looked on the internet pretty hard for information on paypal because they were asking for personal information like bank account numbers and such. I visited the site mentioned above as well as many others. But I found that most of the "horror stories" came about because of the users' own fault. What i determined is the PayPal does not have good customer service, but it doesn't mean that they were wrong in their actions. They are a banking site that guarantees the protection of online buyers but not really of sellers. I don't remember where I read it, but for example I read a story where someone auctioned something on ebay but the buyer never received the item. So of course the buyer requested their payment back from PayPal. This person though had already withdrawn the money from their PayPal account. Therefore PayPal withdrew the money from the seller's bank account, which also had no money in it. The seller who hadn't sent the item received and overdraft fee, but has no money to pay that or the money they owe PayPal and is upset that PayPal keeps processing the payment for the amount of money that is owed. While it would be aweful to be in this situation, she still created the problem herself. selling things on ebay is a business and you need to have money to run a business. Anyway, in the course of my research I have found many people who love PayPal, especially their MoneyMarket fund. And I could not find anybody who didn't like paypal who were not sellers on ebay. Therefore I still trust PayPal, but would not keep a lot of money in my account if I sold things on ebay because of the possibility of them freezing my account because of complaints. As I don't use ebay often, I do not have that problem.
• India
2 Jan 07
i too never had an opputunity to take my money out of paypal but i hv always had good reviews about paypal.com....i will think about the detail you have given and then only i ll think of taking my money out from paypal.but i think they are not fraud...they are the best in the business..i have had quite a lot of reviews of paypal.
@Acts238girl (2088)
• United States
2 Jan 07
i just recently got a paypal account when i joined mylot.i don't know a whole lot about it.thanks for sharing your info.
@riyasam (16578)
• India
2 Jan 07
thanks for the info