Another PayPal victim. Don’t be the next one.
DotDB is the latest company in the domain industry to face an immediate suspension of its PayPal account with no explanation.
It happened to Sav. It happened to NameBio. It has happened to others.
Imagine waking up and finding out that all of your subscription revenue was in limbo. All of your money was locked up for months. Your churn was suddenly 100%.
All with no explanation.
As we’ve seen time and time again, PayPal has closed accounts that shouldn’t have been closed. It was PayPal’s mistake, not something the merchant did.
Suspending a merchant’s account should be taken with great care. It’s someone’s livelihood.
I implore entrepreneurs to start switching as much of their subscription base off PayPal as fast as you can.
As an alternative, I used Stripe for my last business. They were so easy to work with. They had nearly instant chat support that got to the bottom of any issues I had. And when I sold my business, they transferred the account to the new owner within hours. The company even adjusted our 1099s to reflect the effective date of the transaction.
Don’t trust your business to a company that will drop you for no good reason. Get off of PayPal.
PayPal has been on a steady decline for some time now.
They can cancel or lock your account for any reason, even political party preference or a post on social media.
They change the rules on a whim.
Avoid PayPal.
The PayPal Mafia.
Yes 100% agree.I very very rarely use Paypal, and then only to send small payments, NOT to receive any. By the way Twitter is equally bad, although not a payment site I had been tweeting. I tweeted something today that I thought Prince Charles (Now King Charles) was behind Brexit so as to protect Monarchy from the European Union Laws (and believe me Prince Charles has been exposed to pressuring UK Govt and succeeding on changing UK Laws to protect His land and property interests ! ) and within 1 hour my Twitter account was gone, non existent ,nada,. Would not even recognise me logging in !!
Did that happen by chance on the same day you posted your comment? If so almost certainly not conn4cted ot that tweet. There was an issue with Twitter for some time yesterday where it logged people out and wouldn’t let them log back in. AFAIK that’s been fixed.
I think I will Short Paypal stock as for sure they are going UNDER. No one would dare use them anymore.
Wow, this would be devastating to a small business who chose to entrust their payment processing to Paypal. And refusing to release YOUR funds for 6 months? That’s criminal. Paypal has reached out to us many times, trying to convince us to hand over our payment processing (a significant volume /year) to them. I’m so glad that we did not do that! We certainly will not ever entertain that idea now.
Lol… if you bother to search “can’t login” or #TwitterDown, you’ll find that Twitter randomly locked out thousands of users today. So they did the identical thing to thousands of people over your tweet?
Someone with an ax to grind
My account is permanent restricted too for no reason I really hate paypal
pole
Mine too and I never did anything wrong …
By now most businesses should know to stay away from PayPal. By the way their “permanently limited” is not so permanent. 5 years after I was banned I created a new account, provided them with my social security number and ID and I was doing business with them again. But a different set of issue arose non-business related. PayPal is a horrible company.
I can’t understand why more people are not closing their PayPal account.
PayPal is a so call “company” with license to steal.
Do you know paypal only blicks your account and that’s all. But stripe in other hand is complete bully. It blocks your account then blacklist you to high merchant list and fines 25000 USD to get blacklist. Now is that justification?
All of these payment gateways are just scams.
PayPal and stripe both do this, last year stripe froze my account for now reason. I ended up getting funds 7 months later all while I had a legal team fighting them.
Get in touch with cory@ratetracker.io he’s been taking care of all my merchant account needs since this happened.
Our company used to use PayPal for all our merchant processing. $1 million/year in charges with never ever a chargeback or complaint. This used to generate a lot of fees from us for PayPal. Their unpredictability in rules changes makes them an unnecessary business risk. Their opposition to free speech makes them offensive. There is absolutely no reason to do business with PayPal.
Only use it to get paid only by credit card for services I render
I do not accept checks effectively Jan 2023
Most suspensions, not just on paypal, are due to not following the TOS, something we agreed upon. Most TOSs have a “hey we don’t have to give you advance notice or warning” line in them.
Anyone that knows anything about finances knows that you do not rely on just one method. Go to your bank and do it pre-paypal way, get a business account.
Stripe was even worse. I have had similar issues with PayPal several times but there was always a way to get restarted. With stripe they closed my account without any notice. With both services I find problems happened when i tried to defend my website after a customer used the services and then made a chargsback. So the rule is do not question any chargeback and just refund without questions.
I completely agree with you. I use PayPal in fear. I don’t know why many merchants trust them. I don’t. I only use PayPal mostly to receive payments and I transfer my funds almost immediately. They have sometimes closed and seized users money for no reason. I offer my users the opportunity to pay using other alternatives but 90% still prefer PayPal. I hope this changes in the nearest future. Payooneer and stripe are very good alternative with better exchange rates.
Paypal banned me too..I got the same email. I got an email saying I had violated their user agreement…I’ve had my account since 2014 and I barely used it….I have zero idea what I did and they won’t tell me either