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PayPal stole users’ money after freezing, seizing funds, lawsuit alleges:
PayPal is facing a class-action lawsuit alleging that the digital payments company violated racketeering laws by freezing customer funds without offering an explanation.
When users contacted PayPal about the frozen funds, they were told they had violated the company's "acceptable use policy" but weren't told how that violation had occurred, the lawsuit says. What's more, it alleges that in at least one instance, PayPal said that a user would "have to get a subpoena" to find out why.
"PayPal violates its own Agreement by failing to provide adequate notice to users whose accounts have had holds placed on them," the lawsuit says. When PayPal does let users know it placed a hold on their funds, "it does not inform such users why such funds are being held, how they can obtain a release of the hold, and/or how they can avoid future holds being placed on their accounts."
It also says that PayPal takes the money for itself after a 180-day hold period. "PayPal's user agreement and acceptable use policy cannot be used as a 'license to steal,'" the complaint says.
[Ed. Note: one of the payment options to subscribe to SoylentNews is through PayPal. We practice safe operations and periodically withdraw funds from our PayPal account and deposit them to our bank account. We use the same technique with Stripe. To my knowledge, we have not had any problems with any of our payment processors.--martyb]
(Score: 4, Insightful) by mhajicek on Monday January 17 2022, @04:09AM (2 children)
Don't link an account, link a credit card.
The spacelike surfaces of time foliations can have a cusp at the surface of discontinuity. - P. Hajicek
(Score: 2) by kazzie on Monday January 17 2022, @06:03AM
It used to be (decades ago) that you had to link a bank account if you'd received a payment and wanted to withdraw funds. At least that's how I ended up linking one. It's no longer my main account, though.
(Score: 0) by Anonymous Coward on Monday January 17 2022, @10:12AM
In Germany, and other nations, you must link a bank account even if not used as main payment method. This is for regulatory purposes.