Paypal STEALS $90,000 from COLLECTORS!
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- Опубликовано: 8 сен 2024
- The PayPal sage continues as collectors reach out to me with their PayPal horror stories. Recently, two collectors reached out with screen shots of PayPal transferred the frozen balance to themselves after the 180 waiting period.
*Disclaimer: I am not a lawyer. I am not giving legal advice. Also, I am going off of the information provided by those who were affected, so let’s just say PayPal “allegedly” stole their money.
#Paypal #Collector
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Do you think PayPal has the right to seize the money in your account?
Helllllllll naw.
This is absolutely insane!! Now, I haven't studied PayPal's terms but I'm curious if they've buried some "fine print" that gives them "legal" means to seize funds. I've been using PayPal less since seeing your first video on this topic but they remain a huge resource for receiving funds in this hobby...making it difficult to just stop using them altogether. Shame.
I would steal everything a drug dealer owned and never regret anything.
Absolutely not! I could understand taking a small fee or something along those lines but all of it, that's just absurd.
Close my account, sure. But holding the funds it's just ridiculous. Even if they took an "account closure" fee, gimme my damn money.
There need to be law prohibiting companies like PayPal from doing this.
Even if it IS for abusing friends and family - they can’t just take your money. There needs to be a class action lawsuit against them
Someone needs to raise a class action against them. It's like "Stay back 100 ft. Not responsible for broken windshield " they are still liable. It's just a deterent. Paypal has no clause here, even if they said you signed x y and z.
There is a difference between a truck putting a sign that says “we are not responsible for damages”, opposed to someone actually signing and agreeing to terms that state “we are not responsible for damages” lol
@@BenWayne888 of course. It was just an analogy.
@@collectorscreed haha yeah I understand I'm just saying paypal has a much better case if anyone tries suing than a truck with a bumper sticker. People may end up losing more money if they try taking paypal to court
Sue them!!! I'm not someone who believes in sueing for everything but this is bullshit!! They need to be held accountable.
I respect your comments, Gem. Your original PayPal video you made, motivated me to NOT keep any funds in PayPal. Preach on, brother! Maximum respect!!!
This exact reason is why I dont use PayPal.
I'm not a lawyer but they should definitely look for one. It seems like PayPal is using their ToS as an excuse to settle what would normal be civil lawsuits, without actually going to court. It may be that in a court it will go in PayPal's favor due to the ToS but it really shouldn't be up to PayPal to act as their own judge on these kinds of things. If it were for a very small amount I would maybe not bother, but $60k+? I'd be filing something ASAP.
I will never sell on eBay again and I try to avoid PayPal whenever possible
I need to apply for a job at PayPal
Mr X!
I thought maybe you were the guy with $65 grand languishing in his Paypal 😂
Me2 lol
@@theflyingninja1 My PayPal’s get frozen a lot actually so I continue to open new ones. But after they screwed Gem over the first time I make sure there’s no money in there.
Hi Mr. X!!!
There is a class action suit in the process actually. It’s being started by The professional poker player Chris Money Maker and his legal representation. If you google this information you should be able to find contact for his lawyer
wow hope so
i googled & found this 2003 now 2021 time limiation ?
Poker Hall of Famer Chris Moneymaker is suing ubiquitous payment processing giant PayPal. In a press release issued late last week, Moneymaker’s attorney, Eric Bensamochan, said that they will be suing PayPal for breach of contract, unjust enrichment and bad faith, “among other causes of action,” for confiscating more than $12,000 from the 2003 World Series of Poker Main Event champion’s account.
By Dan Katz - May 31st, 2021
Two weeks ago, Moneymaker tweeted that PayPal froze his funds last fall, but at the very least told him that he could access them within 180 days. Apparently, that wasn’t the case, as he posted a screenshot of his account, showing a $12,228.55 transfer to PayPal. The company had confiscated his money.
“Somebody has to stand up to these guys,” Moneymaker said. “I’m going to
continue to use my status and my social media channels to expose these
immoral and illegal practices and ask others to join my lawsuit against
PayPal.”
Same experience I have right now. Sadly, the refund option is not available for money sent via friends and family transaction. It's crazy how corporations like this can easily get away with blatant theft.
I had similar experience few months ago, but with the help of *wea_tech* he was the one that finally helped me fixed my account back properly, I suggest you send him a
request
The should definitely lawyer- up. The whole violating Friends & Family is BS. How can they prove someone isn't your friend.
That's freaking insane. I'm glad I don't keep a balance in PayPal and definitely never will. I think they're doing it because they know they can get away with it. Until someone has the means and sense to get a layer to challenge Paypal, it's just going to keep happening.
They better be reaching out to an attorney, because that sounds like a big scam on pay pal's part.
This could be a class action lawsuit. It be worth talking to a law firm that specializes in fraud which is what this sounds like. I think they’re counting on people not doing anything about this.
I would steal everything a drug dealer owned and never regret anything.
Then there would be 2 criminals
Low budget/impact batman lol
But of the money you stole from a drug dealer how much of that money did they actually use for drugs ya see the moral dilemma in that ?
Until the “drug dealer showed up with guns”. They tend to do that you know.
That is totally insane. Big corporations can pretty much do anything they want now, I guess
that is crazy!!! I have had my account frozen before but no amounts like this. but still PayPal has no right to seize someones money, unless they are the FED's.
This is what happens when a corporation gets too big! They relied on us to get them where they are, then they turned against us! Never leave money in PP!
Screw PayPal, their actions have become criminal lately.
They either think they won't get sued, or calculate the opportunity lost of all the fees they "should" have received from the business done through them and keep the money on those grounds. Either way it's the danger of companies getting too big/powerful and there not being enough meaningful competition.
If this is happening to multiple people, they definitely need to be taken to court, and I could definitely see there being a class action suit against them.
This is wild, Gem, smdh, you're a good dude for trying to spread awareness, because they can't get away with that.
I dont see how they can just take your money, that's bullcrap, seems like they are just stealing your money
Thanks, Gem for educating us on PayPal money scam.
These videos need to be made for anyone getting into the collecting hobby/business.
1600$ stolen from paypal here... i hate paypal with all my heart. they need to go down fast!!!!
If $75 still hurts me for being frozen I can’t even imagine your case
Facts smh
That’s just crazy AF! Never using PayPal again.
Just sue PayPal, they can’t just take your money. Any lawyer would be happy to take these cases. It’s obviously PayPal being sketchy and lying to customers saying u have to wait 180 days then like u said there is some clause that allows PayPal to take your money after that time. Honestly that’s kinda stepping into defrauding the customers of their money. Get a lawyer.
i think the fine print gets them out of every shady thing they do.
As if it's so easy to pay a lawyer to bring the suit to court and wait however long it takes to get the money back.
@@foodini666 fine print has a funny way of not standing up in court when it’s predatory like this.
But unless you have a lot of money, the money for the lawyer is probably more than whatever they are holding. Filing is going to be couple of thousands of dollars. If it goes to court, that is going to be more. Unless you can sue them for the lawyer's fee too. This is crazy. People should have a right to see the case file if they are going to take the money.
@@jn6305 You seem to know a lot about court proceedings. May I have your license number to look you up and make sure you're legit?
The only thing that would make it worse is if the lawyers all had an agreement so you couldn't even sue anyone for damages, am I right?
PayPal has no right to seize money. Terms and Conditions written on their website will not stand in a court of law. Look back at history, when people take them to court, they settle it outside the court. There is no way PayPal are winning these suits. Thing, which country and which law allows stealing.
That is INSANE!!! Super fucked up on PayPals part. Like I totally get fining people for policy violation, but taking all their money is complete bullshit.
I have $100,000 limited in PayPal for 180 days. Absolute scam.
Did you get it out?
@@corawilliams4956 they stole around £40k in the end, but after a few emails etc I got it returned
If they had actual damages, they have to explain it in writing and you have the right to challenge reclaim your money if you disagree.
Spider-man booth DEFINITELY steals your money LOL
Lesson from a similar experience - don’t take a customer service rep’s word at face value. They just tell you the “line.” You’ll never speak to them again. And though it shouldn’t be this way, you’ll be starting from near scratch the next time you speak to someone there. The only one really working to get to the bottom of your problem is you.
And frankly for $5k I’d call the police.
Yesterday, i spoke to them, they said they will hold funds for safety reasons and trust on an account. I think thats unacceptable
Dom: "They just took $65k from us!"
Ghost Brian: "I thought nothing was stronger than Friends and Family?"
Hey Gem. It’s very suspicious when eBay who used to own PayPal has also settled all relationships with PayPal something must be really stinky over there
WTF. This is insane. I think that's it for me. Done.
That’s nuts. I had about a grand in there for a while. Took it out mid way through this vid. Thanks for the warning!!
I guess no one heard of small claims court to sue to get your money back. You don’t even need to hire a lawyer. They usually give you you money when they get the letter from the court house because they know they will lose the case.
You can sue pay pal , they can't just take your money no matter the terms and service.
This has been going on for years and no one does anything. Best thing to do is don’t use paypal
After watching your PayPal video I've kept a zero balance in my PayPal accounts.
That's WAY too much money to leave in PayPal. Bad money management
Disgusting. This is the definition of predatory.
Wow, how is this not a class action lawsuit?
I also never keep funds in my PayPal account. I don't find there's any advantage to keep a balance there.
I am asking them for 2 days to provide the info on the exact so-called damages invoked and all i get is the automatic answer. Today called and spoke with 4 of their customer service crew and they all give me an attitude and rejected me and yelled at me telling me that this is a confidential matter yet 6kEuro was taken. This is a crazy situation...
PayPal must be hurting from loosing that eBay contract.
If someone want to start some kind of a "collective" i'am in at 2000% We can regroup a loooot of people
I'm an online English teacher, and the platform that i work with paid me on PayPal, and guess what?????? The money i work hard for ten lessons is " on hold" and yes they charged me 2 euros for it and we're talking just about 39 euros pay. I'm just waiting and waiting for it as they claim that it might take up to 21 days for it to be freed, so what am i suppost to tell to the bills i got to pay, please wait cause PayPal is playing hide and seek with my money????
After seeing this I’m done with PayPal can’t risk it they think it’s a bank
This is insane. Thanks for the heads up. I have to imagine Paypal will give their money back but probably take a fee. Curious to see how this ends.
Please note that, this year ebay is ending cooperation with them.
Wow....it's crazy to think of what they can get away with.It's all way too sketchy.
These people have to sue them.
This is truly ridiculous.
Thanks for this video, I have the same situation where I waited 180 days and after waiting Paypal just took my money
I sent $50 (I know it’s not a lot of money but it’s the principle) to my friend for her birthday and because it was her birthday they and she received a bunch of birthday gifts from friends and family. They flagged her account and froze it (supposedly for 180 days) I tried to file a complaint and because I filed a complaint that they stole the money I sent they told her it was chargeback and closed her account permanently and took her money but never gave me my money or refunded it to the other people that sent her birthday money. This is friend for many years that lives in a third world country and this really hurt them financially.
PayPal sucks. Zero protection with them.. they won’t even stop payments when you ask them to.
I can confirm this happens. The minute you begin making money from sales or receiving money as gifts from friends and family they will take half of what you make and try to take the rest by closing your account. This almost happened to me! THIS IS NOT EVEN INCLUDING WHAT THE GOVERNMENT WILL TAKE FROM TAXES EARNED FOR YOUR SALES OR MONEY RECEIVED.
Never keep any balance in a PayPal account.
Another thing....use strike, it’s crypto in a hardware wallet, it can’t be revoked if it’s literally in your wallet
Holy shit, this is straight up bananas, hope these dudes get their money back!!!!
I read somewhere if you are making significant transactions you need to have a business account with paypal, else they might do this account freeze as you are not supposed to do a business under personal paypal account.
Dang PayPal is messed up
Helllll no there’s no way that can be legal. That’s horrible, I can’t stand PayPal
must be some kind of misunderstanding? They're a large company and wouldn't just straight outright steal your money would they?
The moral of this story: use venmo. They aren't nit picking over how you categorize payments, because at the end of the day, you're the one being affected.
i guess the lesson here is never leave money in paypal. i had 500 in there for a rainy day , i took it out. so they can freeze me anytime they like.
They rubbed me of 30 dollars. And it was all the money I had in the world 😭😭😭😭
Wow wtf thats just horrible.
Here is the issue with getting a Lawyer...now your spending $ 100,000 or better to get $63,000 back..and companies like PayPal know it..class action would be the way to go..That way all share the cost..Good luck to those people hope it works out for them.
They just took $1000 from anybody figure out a way to get it back yet
This is quite a bit different but I’m from the UK and I purchased a statue from an eBay seller in Germany. They didn’t say to ask for a postage quote or anything like that so I bought the item. (It wasn’t cheap).
After five days ( including a weekend) they got back to me and said that as the UK has now left the EU ( dumbest mistake EVER !!! BTW and not voted for by me but it is what it is) they were not shipping to the UK and had already refunded my money. Because I paid through my debit card through PayPal I now find out that it can take up to THIRTY DAYS to access this cash !!
I needed that money to purchase an alternative version of the item I initially bought and at this moment in time there’s only one other for sale everywhere I’ve looked.
Now this may be due to the “terms of service” or whatever but I’m sorry, NOTHING takes thirty fucking days in this day and age !! NOTHING !!
I could have walked to fucking Germany and pick the damn cash up by hand in thirty days !!
I literally only have a few hundred bucks on my PayPal, just in case something happens 😒
Sounds like a felony from PayPals side. Hope they go down fast.
Wow! Unbelievable!
They should be shut down over this...crazy
Ladies and gentlemen….observe the work of deregulation…if it’s not an FDIC insured entity you’re just “in a relationship”, and they establish the terms
As a whole we should all stop using PayPal.
This is a class action lawsuit waiting to happen.
what... thats it.
I'm never using PayPal again!!!
They need to sue PayPal obviously.
Any state attorney general would love to hear about this and probably most lawyers.
They still stealing money
i think they should get a lawyer
Need to file a complaint with the Federal Trade Commission, an Luke others have pointed out maybe a class action lawsuit.
people die over less money , that's a sad situation.
People WOULD die if they took that kind of money from me
Omg now I know why nobody in Canada uses PayPal
Hope they have some legal friends to fight this. I've had good experiences with PayPal with secure protection against bad sellers so this other side of the matter I've never had that kind of issue. Sounds like a major headache no aspirin can cure.
They are also increasing their fees 1.5% per transaction…. Might have to look into something else.
Yeah so is everything else. IN MORPHIUS VOICE. "WELCOME TO THE REAL WORD ".
Even if Paypal returns the money they are holding out of "security concerns", they aren't holding it in a shoebox on a shelf. They're holding it in an interest bearing account along with thousands of other customers' monies. Paypal will keep that interest and that's called 'embezzlement' . IANAL.
Wow good to know. Thanks for the information. Peace and love!
Wow...i am thinking of selling some of my books and all this gives me anxiety...everyone is trying to get into your pocket...even big business
After today I will be closing my account with Paypal
This is seriously scary
they did the same thing to me and i hardly use them.....i asked why they said for risk reasons. I asked what i did and they said they can not disclose for proprietary reason.....what??? so I can never have a pay pal account and I will never be able to use them