Originally Posted by hardwareheroes

Hi - we are still toing and froing with paypal at the moment. Basically , because mobile phones are common bases for fraud andf money laundering, the fact that we are shifting 30k per month is giving them the jitters.

I currently have 17K in paypal frozen and if (a big IF apparently) I am to be allowed to continue to use paypal, it looks like they want to keep that 17k as a permanent retainer.

GASP!

oooh mate that is harsh. I think you need to get legal advice if they try to hang onto those kinds of funds for an extended period.

Originally Posted by studio1one

oooh mate that is harsh. I think you need to get legal advice if they try to hang onto those kinds of funds for an extended period.

YUOP - no doubt about it - its hurting cash flow and my ability to order stock for the increased sales that we are now experiencing and will continue to experience in the build up to xmas

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What are the charges for google checkout as we have landed with the same problem again with paypal.

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Originally Posted by londonking

What are the charges for google checkout as we have landed with the same problem again with paypal.

Virtually the same as paypal, Jay.

They hittin you too?

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Yes, citing reasons of 'too much money and anti money laundering regulations'. All because we get lot of payments from overseas. Talk about damaging british exports eh?

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Originally Posted by hardwareheroes

YUOP - no doubt about it - its hurting cash flow and my ability to order stock for the increased sales that we are now experiencing and will continue to experience in the build up to xmas

I bet it is, that kind of money hurts cashflow for any business. Feel for you mate, I bet you've had no problems or chargebacks either. They recently told us they want to hold a 20% retainer of all funds, not a single piece of negative action on our account in over 12 months,

Looks like paypal are getting greedy or desperate

We have had only one chargeback out of thousans of transactions and it is someone I am taking to court - they shouldn't have done it but paypal sided with the buyer

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Originally Posted by hardwareheroes

Hi - we are still toing and froing with paypal at the moment. Basically , because mobile phones are common bases for fraud andf money laundering, the fact that we are shifting 30k per month is giving them the jitters.

I currently have 17K in paypal frozen and if (a big IF apparently) I am to be allowed to continue to use paypal, it looks like they want to keep that 17k as a permanent retainer.

GASP!

All the more reason you should insist on BACS payment, what with faster payment & all (£10,000 limit per day) there is no reason to use paypal IMO.

Plus if you are processing that amount of transactions why not use a traditional & probably much cheaper processor?

It just shows how they have a stranglehold on companies, hence the reason I told them where to go months ago

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Last edited by mdsltd; 07-10-2009 at 11:18 AM.

Originally Posted by nicky3clare

Jeez Ian!!

Didn't you tell them you were MOTM?

lol...

Agreed, more of our clients are using this method(bank transfer).

Originally Posted by mdsltd

All the more reason you should insist on BACS payment, what with faster payment & all (£10,000 limit per day) there is no reason to use paypal IMO.

Plus if you are processing that amount of transactions why not use a traditional & probably much cheaper processor?

It just shows how they have a stranglehold on companies, hence the reason I told them where to go months ago

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