PAYPAL STOLE MY MONEY SO I AM STARTING THIS PETITION. If PAYPAL has harmed you or your business financially, or emotionally in any way, shape or form please sign this!
We are requesting resolution for PayPal’s customers.
This petition is to try to get PayPal to alter its terms of service agreement to something that is favorable to both PayPal, and its customers.
Has PayPal continuously held money from you? Was it against your free will? Has PayPal ever lied to you? Were you deceived by PayPal? Have you ever believed that you paid for an item only to find out later that PayPal took your money and only put it in PayPal’s bank account while never actually completing the checkout process for you? Have they ever put you off while you were waiting for a refund?
Why does it seem like PayPal is promoting fraudulent practices? Has PayPal defamed your character, or caused you any type of financial or emotional hardship? We want PayPal to offer clear terms in the contract that are easy to understand. We want PayPal to make sure their contract is actually read and signed before an account can be set up. We want PayPal regulated by government officials.
There are horror stories all over the internet about PayPal's atrocious behavior. These problems affect both sellers, and buyers from all walks of life. PayPal’s control of people’s money needs to end now. PayPal should make it policy that all funds received by them are delivered to the seller bank accounts within 1-2 business days or they should have to adhere to state laws. Example, in NYS is it illegal for a money transmitter to hold you funds for more than ten days. No money should be allowed to be stored in Pay Pals account for a period longer than 2 business days, it should be deposited into the corresponding bank account, or a check should be issued and sent out.
PayPal should be required to give a notice of intent to each user at least three business days before an account limitation, or account closure is to occur. If an item that is sold is “high risk” Pay Pal should notify the seller before pay pal accepts any type of payment for those items. The reasons should be given in easy to understand, along with a clear legal reason cited. Any account owner should be able to remove their funds anyway, and anytime they choose.
PayPal is afraid of losing money. Why should that be our problem? That is the business they chose, and if they have a bad customer, they should have to go through the civil court system just like everyone else.
What legal authority gives them the right to hold your money? PayPal is not a judge, nor are they a jury, or a litigator for that matter. Pay Pal is a money transmitter.
PayPal tries so hard to create and maintain an image of a money transmitter. Yet, PayPals operations mimic a bank. Pay Pal has the feel of a bank, they just don't have to follow any of those pesky banking regulations. Customers use PayPal as a portal to complete a payment to a merchant.
PayPal should find another way to survive. I don’t believe PayPal was created with so much corruption in mind. I believe greed is what I got them to where they are today. Banks have to go through stress testing. PayPal doesn’t. Here is a question, Could PayPal actually pay everyone all the money they owe to their customers in one day if they were forced to? They told me that they are too big to fail. I remember some other companies who said those famous last words. (Examples Lehman Brothers and AIG)
This is not an honest way to create revenue. When revenues and assets are collected and proven by locking people's funds in their corporate bank accounts it creates a false reality to their stock holders, and customers alike.
I would like the government to either take the entire interest that was paid to pay pal over the years. Or, I would like to see the money paid to Pay Pals users.
If your money was frozen without any legal grounds it seems that their practice would be illegal. If they are not the police, the government, or even a bank what gives them the right?
PayPal is a money transmitter/deposit broker who makes a living by skimming interest from millions of dollars illegally collected and held every day.
This company is mirroring a very large pyramid scheme. How can pay pal force people to send items without receiving any remuneration? They claim they can legally hold all funds for a period of up to six months, or more. By doing this PayPal is forcing people to become creditors to their buyers, to PayPal, and to eBay. When you signed up for an account with PayPal, did you know you were signing up to be a creditor?
If PAYPAL has harmed you or your business in any way, shape of form please sign this!
People for Paypal regulation started this petition with a single signature, and now has 24 supporters. Start a petition today to change something you care about.