Just as you thought Ebay and Paypal were safe we find they are not safe at all. There are over 200 complaints I found on youtube about Ebay and Paypal. If you have a Ebay and Paypal account your money is endanger of not being your own. I suggest you join the Class Action Law Suit. Contact your Federal and State Congresspeople and Senators to bring Ebay and PayPal in for an Congressional investigation. We want responsible Corporation not irresponsible ones.
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PayPal Class Action
Eight Count Class Action Against Paypal, Inc and E-Bay, Inc
NY eBay Examiner
Paypal is now hit with a nationwide class action, case number CV10-2046, which challenges PayPal's fraudulent practices of "holding" funds for up to 180 days in the accounts of entities and consumers that collect wages and/or payments for product and services through the PayPal system.
The action states that PayPal systematically and arbitrarily has frozen funds in PayPal accounts for up to 180 days and sometimes even over 300 days without providing any explanation or factual basis for its actions. PayPal has the use of the "frozen" funds during this hold period and keeps all interest accrued during this hold generated by the funds.
PayPal has more than 81 million registered accounts worldwide and is now one of the leading ways to pay online. Recently, in opportune timing with the poor state of the ecomony, PayPal started placing reserves on accounts and/or limiting and/or suspending seller's accounts and holding the funds in the accounts for 180 days. PalPal placed holds on funds of users who not only sell on eBay but also who use PayPal as a method of payment on their own websites and jobs that pay via PayPal.
PayPal informs account holders of the hold on their funds hrough use of a form email which provdes no information as to why there is a reserve placed on their account and/or why their account was limited or suspended. When PayPal users contact PayPal's Resolution Center, users are met with non-responsive and unhelpful customer service, "canned" responses, a litany of requests for additional documentation such as social security numbers and tax returns, and even after entering the PIN that PayPal provided, were transferred to a non-working number.
Class members who inquire of PayPal as to the reasons behind PayPal's action's are told PayPal will not explain its actions without a subpoena. In other words, PayPal holds money belonging to Plaintiffs and the Class and tells them they have to get a subpoena or c ourt order just to discover the reason why PayPal is denying Plaintiffs and the Class access to their own money, which is legally and rightfully the Plaintiffs money.
Causes of action of this Class Action are as follows:
First Cause of Action: Violations of the California Unfair Business Pratices Act and California Consumers Legal Remedies Act.
Second Cause of Action: Conversion.
Third Cause of Action: Breach of Contract.
Fourth Cause of Action: Violation of the Implied Covenant of Good Faith and Fair Dealing.
Fifth Cause of Action: Breach of Fiduciary Duty.
Sixth Cause of Action: Violation of The Electronic Funds Transfer Act, 15 U.S.C. 1693 et seq.
Seventh Cause of Action: Unjust Enrichment.
Eighth Cause of Action: Declaratory Relief Pursuant to 28 U.S.C. 2201.
The action states that PayPal systematically and arbitrarily has frozen funds in PayPal accounts for up to 180 days and sometimes even over 300 days without providing any explanation or factual basis for its actions. PayPal has the use of the "frozen" funds during this hold period and keeps all interest accrued during this hold generated by the funds.
PayPal has more than 81 million registered accounts worldwide and is now one of the leading ways to pay online. Recently, in opportune timing with the poor state of the ecomony, PayPal started placing reserves on accounts and/or limiting and/or suspending seller's accounts and holding the funds in the accounts for 180 days. PalPal placed holds on funds of users who not only sell on eBay but also who use PayPal as a method of payment on their own websites and jobs that pay via PayPal.
PayPal informs account holders of the hold on their funds hrough use of a form email which provdes no information as to why there is a reserve placed on their account and/or why their account was limited or suspended. When PayPal users contact PayPal's Resolution Center, users are met with non-responsive and unhelpful customer service, "canned" responses, a litany of requests for additional documentation such as social security numbers and tax returns, and even after entering the PIN that PayPal provided, were transferred to a non-working number.
Class members who inquire of PayPal as to the reasons behind PayPal's action's are told PayPal will not explain its actions without a subpoena. In other words, PayPal holds money belonging to Plaintiffs and the Class and tells them they have to get a subpoena or c ourt order just to discover the reason why PayPal is denying Plaintiffs and the Class access to their own money, which is legally and rightfully the Plaintiffs money.
Causes of action of this Class Action are as follows:
First Cause of Action: Violations of the California Unfair Business Pratices Act and California Consumers Legal Remedies Act.
Second Cause of Action: Conversion.
Third Cause of Action: Breach of Contract.
Fourth Cause of Action: Violation of the Implied Covenant of Good Faith and Fair Dealing.
Fifth Cause of Action: Breach of Fiduciary Duty.
Sixth Cause of Action: Violation of The Electronic Funds Transfer Act, 15 U.S.C. 1693 et seq.
Seventh Cause of Action: Unjust Enrichment.
Eighth Cause of Action: Declaratory Relief Pursuant to 28 U.S.C. 2201.
http://www.auctionbytes.com/cab/abn/y12/m05/i07/s02
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 Online sellers who filed class action lawsuits against PayPal over the company's practice of holding funds for lengthy periods have reached a tentative agreement to settle following successful mediations.The parties in Fernando v. PayPal and Zepeda v. PayPalare currently in the process of finalizing a writtensettlement agreement and exhibits, including proposed notice to the settlement class. A hearing on preliminary approval is set for June 12, 2012, with the motion for preliminary approval to be filed by May 8, 2012. While terms of the settlement are as yet undisclosed, the litigation has not stopped PayPal from expanding its holds policy. PayPal sent an email last week sharing its plans to update its "Funds Availability program" to add additional circumstances in which it could hold seller funds, including "Sellers who sell an item that has a sales price that is significantly higher than the average sales price of items previously sold by that seller." At issue in the two lawsuits is PayPal's practice of withholding funds from sellers in transactions that seemingly have no suspicious circumstances and then refusing to explain why. The plaintiffs in the Fernando case alleged PayPal's practice of holding funds for up to 180 days or longer was fraudulent, and in violation of its user agreement, the Electronic Funds Transfer Act and the terms of a 2004 settlement the company agreed to in resolution of an earlier lawsuit in the Comb et al vs. PayPal case, which dated to 2002. The Zepeda plaintiffs claimed that PayPal's practices constituted a breach of contract, breach of fiduciary duty, violated the California Consumers Legal Remedies Act and California Unfair Competition Law, and that PayPal had been unjustly enriched. PayPal and the Zepeda plaintiffs had participated in mediation in May 2011, which had resulted in an agreement on a class settlement, and last fall, plaintiffs in Fernando v. PayPal asked the court to intervene in Zepeda vs. PayPal on the grounds they involved essentially the same charges. In the meantime, Dennis Dunkel and Cy Stapelton filed a class action against eBay on March 22, 2012, alleging, among other things, that eBay improperly closed their accounts without just cause or prior notice, purportedly in violation of the terms of the eBay User Agreement. Four days later, the plaintiffs filed an administrative motion to consider whether their case should be related to Fernando v. PayPal In the motion, plaintiffs write: "The Fernando Action's special emphasis is on PayPal's practice of holding funds in sellers' accounts by placing reserves on accounts and/or limiting and/or suspending sellers' accounts and holding the funds in the accounts for 180 days (collectively referred to as “holding funds”). While investigating the practices which gave rise to Fernando Action, Plaintiffs' counsel discovered eBay's practices which appeared to be independent from claims raised in Fernando action. Specifically, while talking to numerous class action representatives, Plaintiffs' counsel learned that Defendant eBay has been in practice of suspending or terminating its customers' accounts on the basis that they have engaged in fraudulent activity in connection with the site. Plaintiffs' counsel also learned that those contracts contained a number of one-sided nonnegotiable terms favorable only to eBay. Relying on those one-sided clauses, eBay failed to give any warnings to its users regarding account suspension." The Cases Zepeda v PayPal Civil Action No. 10-cv-02500 EJD, filed June 7, 2010 Lawyer: Freed & Weiss LLC eric@freedweiss.com Fernando v PayPal Case No. 10-CV-01668 PVT, filed April 19, 2010 Lawyer: Marina Trubitsky & Associates marina.trubitsky@lawcontact.com Dunkel v eBay Civil Action No. 5:12-cv-01452-HRL, filed March 22, 2012 Lawyer: Marina Trubitsky & Associates marina.trubitsky@lawcontact.com Comment on the EcommerceBytes Blog | ||
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