25 signatures reached
To: Paypal Europe Limited
Stop Paypal Limiting Accounts Without Evidence of Wrongdoing.
Dear Paypal, stop limiting accounts without evidence of wrongdoing. Put in place a definitive timeframe for complaint handling and account resolutions that you stick to. Allow legitimate business to provide evidence in advance of company standing, proof of ID, suppliers details, stock invoices and any other details you think are required to prevent a limit or freeze on a Paypal account without notice.
Why is this important?
It undermines a business and can push it to the edge especially a small online business that relies on accessing it's own money from its Paypal account. Paypal act like Judge, Jury and executioner with virtually nobody to turn to in the UK if things go wrong. Paypal are regulated by Commission de Surveillance du Secteur Financier, based in Luxembourg, the FCA Financial conduct Authority here in the UK apparently would look at a complaint case but have no real power to intervene. Paypal are not regulated in the UK in the same way a bank is and so get away with withholding your funds as it sees fit for up to 180 days, this limitation or freezing of your account can happen without notice or warning. This can happen to anyone, one such case was when an Ebayer recently had an increase in sales revenue because a product became a hot item. This Ebayer came to the attention of Paypal and their account was limited with £3000 sat in their account and unable to withdraw any of the money or purchase anything, the effect of Paypals limitation also caused problems with Ebay and meant the seller was unable to list any new items either. In essence this small time online business was earning a steady part time income to zero within a few days, This does not just affect Ebay online business sellers it can also affect individuals who can also find themselves with a limited account and a very frustrating wait to access their money. Paypals resolution process is drawn out without it appears any kind of definitive timescale it feels it needs to stick to. They are a multi-billion pound company who bully and trample over people, currently they know they can get away with what ever they want. Please join this petition and make Paypal reconsider their policies and prevent them from freezing and limiting Paypal accounts without evidence of wrong doing. Innocent until proven guilty should be restored as it should be, put Paypal in its place. There is no room in the UK for a company that is able to limit or freeze a monetary account without evidence of wrong doing and a court order.
