2011 DFWmustangs.net lower group buy

[Trick Pony]

Might also want to remove your paypal address from the first post so this thread doesn't come up if they google it.

[motoman]

Might also want to remove your paypal address from the first post so this thread doesn't come up if they google it.

I just checked for that and I have yet to see our thread show up in the first 5 pages. However I did find this group buy but they're paying $70 a lower.

http://www.calguns.net/calgunforum/showthread.php?p=5802500

[David]

I don't see how paypal could legally keep the funds. Did the group not take any sort of legal action against Paypal? I can see where Paypal could freeze an account if they felt the group was going around the rules of how to transfer funds like paypal would want. But I don't see how they have any legal authority to confiscate the funds.

I think it's still in dispute. Been about 6 months+ now.

The reasoning was even though someone was receiving money from others to make a payment on a totally different purchase without paypal and their rules, they were still buying guns/parts from the person arranging the buy.

The initial thing that set it off was an increase in cash flow into an account that hadnt seen an average that high during the account operation. Then it goes into investigation/account freezing where they will crosscheck emails etc.

[CJ]

I transferred the total to my bank account. Let's just hope paypal doesn't do some bullshit in the mean time.

chevyhater01 - I refunded your payment, could you get a cashier's check and mail it to the p.o. box? It will probably be faster than paypal's bullshit anyway.

[CJ]

I think it's still in dispute. Been about 6 months+ now.

The reasoning was even though someone was receiving money from others to make a payment on a totally different purchase without paypal and their rules, they were still buying guns/parts from the person arranging the buy.

The initial thing that set it off was an increase in cash flow into an account that hadnt seen an average that high during the account operation. Then it goes into investigation/account freezing where they will crosscheck emails etc.

yeah exactly what I figured might happen. I think we caught it quick enough.

[CJ]

I just checked for that and I have yet to see our thread show up in the first 5 pages. However I did find this group buy but they're paying $70 a lower.

http://www.calguns.net/calgunforum/s....php?p=5802500

haha and those are 80% lowers, they are not even finished.

[KBScobravert]

CJ it may be prudent at this point to pull your paypal account name from this thread and close the deal for paypal payment option. I am all for giving people a chance but it looks like a few may have screwed the rest. How fast can you transfer that money out?

I understand the risk and if paypal were to freeze the funds I would not hold anyone but Paypal responsible.

Guys any contact made by paypal should be disclosed ASAP on here.

CJ can you give a clean line for us to give in the event we are contacted? They won't be able to reach me by phone so I am not worried about me being contacted.

[Trick Pony]

I will mail a cashier's check today for my order of 1 lower and 1 parts kit.

[motoman]

I transferred the total to my bank account. Let's just hope paypal doesn't do some bullshit in the mean time.

Does that transfer happen instantly or will there be a waiting period from paypal?

[CJ]

CJ it may be prudent at this point to pull your paypal account name from this thread and close the deal for paypal payment option. I am all for giving people a chance but it looks like a few may have screwed the rest. How fast can you transfer that money out?

I understand the risk and if paypal were to freeze the funds I would not hold anyone but Paypal responsible.

Guys any contact made by paypal should be disclosed ASAP on here.

CJ can you give a clean line for us to give in the event we are contacted? They won't be able to reach me by phone so I am not worried about me being contacted.

Yeah, we're buying AVR receivers as a group buy. I've already made the request to transfer the funds - we should be okay - just have to move quicker than them.

[David]

Does that transfer happen instantly or will there be a waiting period from paypal?

Usually 3 days, up to 5 depending on the amount.

[CJ]

Does that transfer happen instantly or will there be a waiting period from paypal?

3-4 business days.

[motoman]

Totally unrelated but I found this an interesting read...

Top 3 PayPal Questions

Can PayPal hold my money with no explanation? The answer is YES.
Can PayPal freeze my account for no reason? The answer is YES.
Can PayPal take money out of my account without my knowledge?
The answer is YES.


A Note From The Editor
February 15, 2011

This website is a collection of horror stories, news reports and other information addressing problems with Paypal, Inc..

While we do not have the resources to verify each and every complaint we receive, we do believe that all reports posted here are true based on our own experience with Paypal and the growing number of corroborating horror stories we receive every day. The main subject of the majority of these horror stories is the following:

Your Paypal account can be frozen at any time, without advance notice, leaving you without your money for months (if not forever), and there isn't much you can do about it.

If you would like to submit your own PayPal horror story, we would be more than happy to post it for everyone to read, providing that it is truthful and void of inappropriate language. Please feel free to submit your story by clicking Here

If you are searching for an alternative to PayPal, we strongly suggest acquiring a Real Merchant Account.


Should I use PayPal to Accept Credit Cards Online?

Let's begin by first stating that PayPal is not a bank and does not provide its merchants with a Real Merchant Account. PayPal provides its merchants with a PayPal account.

There is a Very Big Difference.

With a Real Merchant Account, your funds are deposited into your personal or business bank account, which you control and which is also protected by Federal Banking Regulations.

With PayPal, your money is deposited into a PayPal Account, which PayPal Fully Controls.

Since PayPal is NOT a bank, they do not need to follow federal banking regulations. These regulations are in place to help the "Average Joe" avoid issues like having their bank account frozen for 6 months with no explanation...(Imagine if your bank was permitted to do that!)

Because PayPal is not regulated in the same way as a Real Merchant Account, Paypal accounts are frozen for almost anything and without warning. The account can usually receive money while it is frozen, but it certainly cannot withdrawal money. Once an account is frozen, the funds are often held by PayPal for months on end with Absolutely No Recourse for the merchant.



Merchants finding themselves on the wrong end of a frozen Paypal account will still have to find some way to pay their obligations and fill orders for the weeks and months while the account is restricted. A domino effect occurs when a merchant's account is frozen, leaving them with No Means To Fill Orders. Those orders are then disputed by customers, creating more chargebacks and the illusion of fraudulent activity on the part of the merchant. "Welcome to the PayPal Nightmare." The Best Solution?: Get a Real Merchant Account.


How Does PayPal Make Money With My Money?

According to the San Francisco Chronicle, there are approx. 100,000 complaints outstanding at PayPal (Are any of these yours?). In many instances disputes can run on for months leaving people frustrated and out of pocket as they are unable to access their accounts. So what happens to the millions of dollars tied up in frozen accounts and disputes? Well, here is a clip from the San Francisco Chronicle that basically sums it up:

U.S. District Judge Jeremy Fogel of San Jose refused to dismiss a lawsuit that seeks class-action status on behalf of thousands of PayPal customers nationwide. A common allegation is that the company brushes off or stalls customer grievances for months and meanwhile freezes the customer's account and pockets the interest (So that's how they make their money!). No wonder they freeze so many accounts!


The Lawsuit You Need To Know About

As you will come to discover while browsing through the many horror stories posted on this site by current and former PayPal users, PayPal has some tough allegations to deal with. Allegations of mishandling money, unnecessarily locking funds, not providing adequate customer support, freezing accounts with no explanation and disregarding customer complaints, just to name a few.

In early 2002, Plaintiffs Roberta Toher and Jeffrey Resnick filed separate lawsuits against PayPal, Inc. These two cases were later consolidated into one lawsuit in the United States District Court for the Northern District of California.

The lawsuit alleges, among several other issues, that PayPal has placed inappropriate restrictions or other limits on customers' accounts and engaged in several other improper practices. Based on these improper practices, the lawsuit sought damages for money unjustly held, negligence, and violations of consumer protection statutes.

Rather than dealing with a lengthy public trial and being forced to clean up their act, PayPal decided to settle out of court and pay $9.25 Million Dollars to Tens of Thousands of PayPal merchants who processed with PayPal between October 1, 1999 and January 31, 2004. (A mere slap on the hand for a company this size)

Instead of a Judge forcing PayPal to change their questionable business practices, PayPal agreed to pay the settlement and walk away from the entire allegation.

So what does this mean to current PayPal merchants? Unfortunately, this means that PayPal is free to continue operating in the exact same way it always has. Judging by the number of PayPal horror stories we receive every single day, it appears that the situation has only gotten worse since the settlement.

[motoman]

Usually 3 days, up to 5 depending on the amount.

3-4 business days.

So it's possible that could still be frozen?

[CJ]

Totally unrelated but I found this an interesting read...

Oh, I think we all know Paypal has a reputation of being a bunch of gangsters.