Today I received a notice from PayPal informing me they are imposing a 21-day payment hold/restriction (limitation) on my Business's PayPal funds. Really? I immediately contacted PayPal to find out what is going on. I was told, "Accounts which don't complete at least 6 eBay transactions in 6 months will automatically have their PayPal funds held and inaccessible for 21 days."
What? My PayPal account, which I have used for around 10 years, indicates I made 30 transactions since Jan. 2011 of which only 3 were eBay. My business has a 100% preferred credit status with no complaints or bad transactions. I see this move by PayPal as an unjust and unacceptable control tactic.
I will NOT allow PayPal (eBay) or any other financial institution to have this kind of influence on my business and therefore will be closing my account.
I was in shock! What nerve.