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Who closed their paypal account? (1 Viewing)

MapleDots

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With Pal stating they will fine you $2,500 and remove it from your account if you say something they don't like it shockingly looked like the time Trudeau closed the Truckers accounts.

I know paypal back pedaled on this but can we allow financial institutions to regulate our speech?


Thousands and thousands of people have closed their paypal accounts and mysteriously all the trending topics have disappeared on twitter.


We have a paypal account on twitter and it is shocking how much they keep for transactions and then also how long they keep the funds before you can touch them. The funds from one sponsor were held for 8 weeks before they got released. This company is a crime and I am also considering closing the account plus my MapleDots one.


Did anyone close theirs?


Post more info about this topic if you have it
 

Lurker

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Did anyone close theirs?
I did not close mine as smaller transactions in Dan, Sedo and Afternic only have PayPal as the payout option. And some people prefer to use it, because it’s well-known, to send me money despite the expensive forex fees. Lastly, certain charities only accept cheque or PayPal for donations.

But then again, I don’t have Twitter so I can’t comment much on their business practices.
 

Esdiel

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Can't say I'm impressed with this crazy flippy floppy idea of theirs, or how they seem to arbitrarily ban some companies/people... but it seems like most of it gets sorted out (except for Epik). I personally haven't had any issues so I'm not seriously considering closing my account yet, but i'm cognizant of what to be careful for.

Namebio wrote an interesting blog about their experience after having their ban lifted, and their best advice (imo) is to not leave your money sitting there too long:

Anyway, at least we all learned something from this. To not leave any money in your PayPal account no matter how convenient it is, because when they come for you they’ll lock up your funds for an unconscionable six months. To be extremely careful what you put in your transaction descriptions, because what you say can be used against you in a kangaroo court. And to just not trust PayPal in general, because they don’t care about you and they don’t value your business, no matter how much you’ve done with them or for how long.
You Did It! PayPal Lifted the Bans!
 

Esdiel

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I have a question...

One problem I've heard about paypal is that a client could request a charge back after they've received the domain you sold them.. but I think that's only when your selling domains directly/manually to the buyer and paypal is where the financial transaction begins.

My question is: if I choose to get paid out via paypal after selling a domain at Dan.com (for example), could the buyer still (fraudulently) request a charge back from paypal since that's how Dan paid me? I'm thinking the answer is "no", as the client likely sent the money to Dan using another merchant service... but that it would be possible if they did indeed send the money to Dan using paypal from the start?
 

MapleDots

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Paypal will always side with the consumer, even after something is delivered. They will freeze your account and it takes months to go through the process. It is important to always write what you sold on your invoice, details are everything if you don't want to lose your money.
 

sonatime

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I have a question...

One problem I've heard about paypal is that a client could request a charge back after they've received the domain you sold them.. but I think that's only when your selling domains directly/manually to the buyer and paypal is where the financial transaction begins.

My question is: if I choose to get paid out via paypal after selling a domain at Dan.com (for example), could the buyer still (fraudulently) request a charge back from paypal since that's how Dan paid me? I'm thinking the answer is "no", as the client likely sent the money to Dan using another merchant service... but that it would be possible if they did indeed send the money to Dan using paypal from the start?

Probably against TOS but if it is a small amount one can request "send money as a gift" and I think in those cases there is no possible chargeback but selling to someone without an established reputation or unknown is a business risk.

I think Dan has that under control and does their own legal dilligance but Dan could in theory have a problem which they could try to pass on. All in the TOS again, I'm sure.
 

Lurker

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if I choose to get paid out via paypal after selling a domain at Dan.com (for example), could the buyer still (fraudulently) request a charge back from paypal since that's how Dan paid me?
I’ve tried purchasing a domain thru PayPal. It goes to Dan’s account and I get an invoice. If there’s any dispute, I have 3 days after the invoice to notify Dan. Once the payment is made, the seller is notified so they could begin to transfer the domain under Dan’s account. The buyer is then advised to create an account (if new) or log-in to the registrar so they could accept the transfer. Once transfer is confirmed, the money is released to the seller. With Dan holding the payment and domain in their own account, fraudulent chargebacks most likely never happen. If it does, they notify the seller right away and cancel the transaction. If I were a seller, giving Dan 10% of my commission is actually better than risking losses secondary to fraud. YMMV.

Dan’s TOS:
4.8 In case of a disputed invoice by the Client, Client shall inform the Contractor of its objections within 3 days after the date of invoice by means of a written appeal transmitted via email or electronic form. If the Client has not disputed the invoice as set forth in this Clause 4.8, the Client shall be deemed to have accepted the invoice entirely. Partial or full dispute of any invoice will not suspend the Client’s payment obligations thereof.
 

rlm

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I want to remove my bank account info and shut down my paypal account. But they won't let me do it, says I need to contact support and of course that's a giant fucking black hole.
 

MapleDots

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The accounts get removed when you delete your paypal account, I think they hang on to the info for about 30 days then you have to start all over.
 

Nafti

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PayPal needs a nice swift kick between the legs and even some competition. That’s the problem with some of these big tech companies. It lacks completion. YouTube is just as bad. Free speech doesn’t exist on there. Anytime I get a good video to watch from either BrandNewTube or Rumble, I know right away that it must be a good one.
 

sonatime

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PayPal needs a nice swift kick.....


1665975366325.png


Not in position to quit paypal right away but there is no other way than to do business with such companies. Would be nice to put some of these ideologically driven companies out of business but there is very little of real alternatives out there. Ownership and board composition wise the corporate world is very centralized.

Not long ago Rebel News reported RBC head office rejected their mortgage applications because of what type news organization they are. Everyone and everything that gets off the ideological plantation will be attacked.


1665978634379.png
 

Esdiel

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Looks ridiculous with those two headlines side by side but to be a little "fair" to JP Morgan they ultimately did end their relationship with Epstein in 2013. Still arguably not a great look to keep him for another 5 years after he was convicted sex-offender but he was bringing super high value clientele to the bank and the out-of-control cancel culture (we see today) didn't start until another decade or so later.

In any event, I'm not certain whether someone's past should exactly decide whether you have the right to a bank account and services, provided all the transactions are legal and not shady. Every crime organization, known mafia bosses, cartels, or even just convicted pedophiles and rapists must have bank accounts too, so why don't we hear about that or them?

I guess the thing with Epstein (sex-crimes aside) is there was a lot of questionable transactions and redflags with his accounts, whereas Kanye is just a bit crazy and says questionable things... but i don't think Kanye is doing shady financial stuff... so it's still a bit absurd when you compare both scenarios. Plus it's no secret Kanye has mental health issues which makes their decision a bit more questionable and arguably discriminatory.

And speaking of Ye, I guess he's buying Parler. Go figure:

 
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MapleDots

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Parler and Clubhouse are idiotic apps they basically ask for so much information I gave up joining either.

Sure I will join things like twitter and I will volunteer as much information as I am comfortable with but only to a point...
 

silentg

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This was the Acceptable Use Policy that they pulled: (Attachment)
You are independently responsible for complying with all applicable laws in all of your actions related to your use of PayPal's services, regardless of the purpose of the use. In addition, you must adhere to the terms of this Acceptable Use Policy. Violation of this Acceptable Use Policy constitutes a violation of the PayPal User Agreement and may subject you to damages, including liquidated damages of $2,500.00 U.S. dollars per violation, which may be debited directly from your PayPal account(s) as outlined in the User Agreement (see “Restricted Activities and Holds” section of the PayPal User Agreement).
involve the sending, posting, or publication of any messages, content, or materials that, in PayPal’s sole discretion, (a) are harmful, obscene, harassing, or objectionable, (b) depict or appear to depict nudity, sexual or other intimate activities, (c) depict or promote illegal drug use, (d) depict or promote violence, criminal activity, cruelty, or self-harm (e) depict, promote, or incite hatred or discrimination of protected groups or of individuals or groups based on protected characteristics (e.g. race, religion, gender or gender identity, sexual orientation, etc.) (f) present a risk to user safety or wellbeing, (g) are fraudulent, promote misinformation, or are unlawful, (h) infringe the privacy, intellectual property rights, or other proprietary rights of any party, or (i) are otherwise unfit for publication.

$2,500 fine was always there:

Paypal User Agreement from last year:
PayPal User Agreement - PayPal US
If you are a seller and you violate the Acceptable Use Policy, then in addition to being subject to the above actions you will be liable to PayPal for the amount of PayPal's damages caused by your violation of the Acceptable Use Policy. You acknowledge and agree that $2,500.00 U.S. dollars per violation of the Acceptable Use Policy is presently a reasonable minimum estimate of PayPal's actual damages considering all currently existing circumstances, including the relationship of the sum to the range of harm to PayPal that reasonably could be anticipated because, due to the nature of the violations of the Acceptable Use Policy, actual damages would be impractical or extremely difficult to calculate. PayPal may deduct such damages directly from any existing balance in any PayPal account you control.

Updated changes in bold: (Current) - Bolded portion is the changes.
PayPal User Agreement - PayPal US
If you are a seller and receive funds for transactions that violate the Acceptable Use Policy, then in addition to being subject to the above actions you will be liable to PayPal for the amount of PayPal’s damages caused by your violation of the Acceptable Use Policy. You acknowledge and agree that $2,500.00 U.S. dollars per violation of the Acceptable Use Policy is presently a reasonable minimum estimate of PayPal’s actual damages - including, but not limited to, internal administrative costs incurred by PayPal to monitor and track violations, damage to PayPal’s brand and reputation, and penalties imposed upon PayPal by its business partners resulting from a user’s violation - considering all currently existing circumstances, including the relationship of the sum to the range of harm to PayPal that reasonably could be anticipated because, due to the nature of the violations of the Acceptable Use Policy, actual damages would be impractical or extremely difficult to calculate. PayPal may deduct such damages directly from any existing balance in any PayPal account you control.
 

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MapleDots

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MapleDots

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Screenshot (51).png



They said it could take up to 30 days, the accounts closed overnight.


Now any bank that starts this carbon tracking crap on my statements will suffer the same fate.

I want my financial institutions to do what I pay them for, I don't want them to be my social conscience, there are legitimate places for that.
 

sonatime

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Makes me wonder if it is less invasive just to stop using their services. It might fly under the radar a bit more, and it appears like Paypal can have some retaliatory agenda. There is satisfaction in calling them out by deleting the account, but these companies will not turn off their political agenda. With feedback and business consequences, they will probably only disguise their tracks more. Or it might be one of many psychological operations to see how many people will act and how many will kowtow.
 

rlm

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The one thing I will say is that any service that pays out funds pretty much immediately become a fraudster magnet. Every ****roach from every country on earth will try and find a way to cheat/scam/steal/find-the-loophole/etc.... So no matter how hard they try to verify identities and know their customers to in theory minimize fraud, I'm sure it still happens. So on one hand, I understand them wanting to have some recourse in cases of fraud. But they way they handle it is the real problem. It seems their standard response to a claim of fraud is to just freeze the account, hoping that if they are scammers, they'll just eventually go away. But it seems clear to me that they're freezing accounts of legit & honest people and its a horrible way to treat your customers.

I also don't like the way Paypal manipulates what you can and cannot do, seemingly in order to maximize fees and exchange rates. All things considered, I won't work with paypal either.

The fraudsters always find ways to ruin a good thing....

Due to fraud or regulations (which are due to fraud), Escrow.com has apparently made verification harder and harder and for smaller and smaller transactions. So I've had a handful of sales initially try and use Escrow.com this year and get so frustrated that they just said screw it and paid me directly. Not sure I'll ever get to try a CAD transaction at Escrow... Anyone out there have a successful CAD escrow.com transaction yet?