Reserve

[hd6]

Hello I got this email from PayPal but can someone explain me in details as they are just sending auto set emails. During a recent review of your PayPal account, we've decided to apply 3 kinds of reserves to the account beginning 2020/05/21. When this is applied, a Jump Start reserve of $3000 USD will be held from your account balance. A Minimum Balance reserve will be set to retain 80% of each transaction processed each day, until a balance of $3000 USD has been reached. After that, a Rolling reserve will be set to retain 20% over 60 days rolling period. Note: - Reserve is based on the net balance you receive from buyers. - After the Minimum Balance reserve is deducted, the Rolling reserve will be set on the remaining funds you receive for every transaction. For example: At the end of the first day, 80% of each transaction will be retained in the Minimum Balance reserve. And 20% of the remaining funds will be held in the Rolling reserve, which will be released back to your available account balance on day 61, and so on.

[BB789]

I have the exact same problem. PayPal issued a rolling reserve on our account of 20.000 EUR, 6 months ago. They have not given a reasonable explanation and state this is to cover for any disputes/chargebacks. I have had some disputes, but none of them justify the enormous reserve they have made. 

Can anybody give me some advice on this matter?

[AE_AE]

Hello, they have done the same to me to a very similar amount, how did you resolve it?

I am currently speaking with the Financial Ombudsmen, lawyer, legal determent at PayPal, and apparently I am now with Senior management for complaints. I got to that level only by threatening with the Financial Ombudsmen.  

I am held at 80% rolling reserve for 4 months now. The last communication i had before the senior management complaint was " the account will be held with a rolling reserve of 80% and this is none negotiable".

I swapped to PayPal to help my business grow, not be held to ransom. 

If you had a solution to your problem, please please can you tell me how you managed it. PayPal is all automated drivel. 

Appreciated in advance.

[ismystore]

For me it was solved by itself after few month. The solution is not to use Paypal and after few month the account will be back to normal. Sorry that is not a good solution if you need to use Paypal but there nothing you can do.

[AE_AE]

Well, ill be turning the PayPal option off the site today anyway. I've proceeded down the legal route. 

I cannot believe this 80% hold is good for either me as a business owner or the customer. ii did ask PayPal to show me how much interest they had made on my money, as all the other questions from emails i sent i got no reply to that. All I get nothing back but automated resolution responses. 

The worst company i have ever had the misfortune to deal with. I went to Stripe who are superb. 

[luizv2000]

hello

Same here, from August 30th, my money are blocked with these 2 types of reserve. Almost 4 months.

I cannot find a way to contact them.

do you have an email or a chat where I contact them?

regards

[chaseangel04]

Hi! Was this issue resolved? I'm now experiencing the same thing.

[luizv2000]

maybe at the end of the month, now I still have only a Rolling reserve of 50% of all payment recived

[chaseangel04]

How many months before they released your minimum reserve? Did they released it after you've reached the minimum requirement they needed?

[luizv2000]

after 4 months, but don t know anything about the minimum requirement.