Using Paypal... / myLot

United States

January 23, 2007 1:33pm CST

Remember to move your money out of paypal. If you have more than one money making venture and you are using paypal, a dispute with one transaction can have your whole account frozen until the dispute is settled. Only leave enough in to cover what you plan to purchase during the next 20 days! I heard from a friend that he had over $500.00 frozen in his account, which he desperately needed for bills, but because of a $20.00 dispute, he was totally broke!

4 people like this

11 responses

finchley

@finchley (140)

•

23 Jan 07

Thanks for the advice, I am due to take money out of there and it is easy to forget. I was caught in the stormpay ripoff last year so I should know better!

3 people like this

BlondeDitz

@BlondeDitz (144)

• Canada

23 Jan 07

Wow, I didn't even think of something like that. I was just planning on leaving all my money in there because it's easier then waiting 6 business days for it to come out or go in.

3 people like this

creativedreamweaver

@creativedreamweaver (7297)

• United States

23 Jan 07

Thank you for your sage advice, lol. Sorry, I couldn't help myself. I didn't realize that could happen either. I have over two months of myLot and other writing earnings in my account. I will definitly make sure and get it transferred out today. Thank you again. I really appreciate the information.

2 people like this

kepocie

@kepocie (23)

• Malaysia

23 Jan 07

my friend had the same experience too. So, after that happen to him, i always make sure to expense the money for digital item. Sometimes i used the paypal money to buy domain and hosting, more easily and practical.

2 people like this

@cabergren (1181)

• United States

2 Feb 07

Thanks, I didn't realize that they could actually freeze your account. I definitely don't like that idea. I will definitely be moving it out more often. Thanks.

2 people like this

paypal

scarydog

@scarydog (170)

•

2 Feb 07

I'm in a dispute with them on our business account at present....we've got about £400 frozen all over a dispute for £30!! Paypal?? POOPAL!!

2 people like this

Ashida

@Ashida (1370)

• United States

15 Feb 07

I'd never heard of that happening. I appreciate you posting this!

tammyr

@tammyr (5946)

• Etowah, Tennessee

15 Feb 07

I had not even thought about it. i only have $15 dollars in there right now so I think I will be safe. If it is frozen, I won't die of starvation or anything. If it gets much higher I will get it out though. Thanks for spreading the word.

Julia1970

@Julia1970 (410)

• United States

5 Feb 07

I had no idea there could be such a problem. Thank you for letting people know about this!

joey_matthews

@joey_matthews (8354)

•

11 Feb 07

Thank you sagemother for sharing this. I'm new to paypal myself so i will be careful. I only signed up yesterday so i'll see how it goes but i won't be keeping to much in there and i won't be using it to buy things. I'm only using it to collect money for my sites and things like this place. I've been meaning to get one for ahwile actually. Anyways i found this to be very useful! Cheers for sharing it! ~Joey

1 person likes this

@Bizziebod (3497)

•

3 Feb 07

Hi sagemother, I've seen this happen to a couple of friends of mine who have had money in their account and it's been frozen by Paypal. If this has happened to you and you are in the UK then I would suggest contacting the banking ombudsman as in theory they are witholding your money illegally and cannot do this (so I'm led to believe). Thank you for the tip though!

1 person likes this