PayPal Holdings, Inc. Bank Account Or Service Complaint

Other bank product/service Deposits and withdrawals

PayPal Holdings, Inc. Bank account or service department,

Other bank product/service Deposits and withdrawals Ohio

After 4+ years of perfect transactions and feedback, I get a " reserve '' of $15000.00 placed on my account. They are holding $ -+ currently I am asking that Paypal remove the $15000.00 " reserve '' they want for me to continue to do business with, and to allow me access to the $ -+ that is currently being held. I have never had a chargeback or any issues. I have NEVER had $15000.00 in my account at one time, so to ask me to put that in to continue doing business is crazy. I have had a surge in sales and explained all this to the lady I spoke with at Paypal, I have sold these products for 3-4 years now WITH NO PROBLEMS! Currently, I can use my account to accept payments, but ca n't spend/use it until I have over $15000.00 in it. Why would I continue to accept payments when my next $9000.00 in sales ca n't be accessed? I sell on - different sites and -/- different product lines, so this " hold/reserve '' is going to destroy my other lines of business as I ca n't pay my distributors for products that need to be shipped. I am asking that this reserve be removed and I can continue to conduct business as usual. If you choose to discontinue business with me is fine as well, however I need this release of the $ -+ release and I will withdrawal it. This has been a detriment to my business.

PayPal Holdings, Inc. customer in Ohio
Jul 06, 2016

* Source: CFPB Complaint Database

PayPal Holdings, Inc. response to complaint:
Closed with explanation

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