PayPal sucks! Lots of people say. But I don’t see it that way, even if they blocked my account, leaving me with no option to retrieve it, and even if they've restricted several countries including my country, Nigeria. I still understand that the company is keen to protect its reputation and thus; keeping their business alive and going. Everything said earlier will look strange to a reader who don't know what PayPal is.
What is PayPal
PayPal is an online money acquirer, or money broker. They happen to be the most used acquirer around the world online, regular internet surfers will bear me witness on this. They perform payment for online vendors, auction sites, and other commercial users. But what makes it different from other acquirers is that, it is widely used by most companies and firms online.
You'd love this: Open a Verified PayPal account in Restricted Countries
Why you should Protect your PayPal Account against Limitations
Since PayPal is an acquirer which keeps money, it will only be best to protect your account. If you've got money on your PayPal account and go against any of its TOS, I’m sorry but PayPal will limit your account, they may give you some resolution option, so you can regain your account fully but that's 50/50 and not guaranteed, especially if you’re not from one of the restricted countries. You should protect your account against any form of PayPal limitation cos; when you’re limited, you wont be able to transfer money, if you've got some money in it, it may be ceased. With these in mind, lets quickly outline some basic reasons why PayPal may block you.
You may love this: Get the Best Cheapest VPN Service for all Devices
Why Paypal may Limit your Account
According to Steve at MyWifeQuitherJob.com, he said; After talking to my PayPal rep for over 30 minutes, they reassured me that it’s extremely rare that they ever place holds on user accounts. They also told me that there were no limits on my account whatsoever and that I could process as much money as I wanted to in any given day. When I brought up the stories about my blogging friends and how they had their accounts frozen, the representative assured me that the reasons for limiting an account vary greatly from user to user and largely depends on the situation.
Under the following circumstances, Paypal has certain triggers in place as a safeguard against fraud. Here are some reasons why some of these safeguards might be triggered
- You've received an abnormally large amount of money in your account that is way above your average
- Someone has filed a complaint to Paypal about your business
- A series of chargebacks have been placed against your account
- Your website has questionable content
- You are in violation of Paypal’s use policy. For example if you sell drugs or anything illegal, you may get banned
- Your account information is not up to date or your account is not fully verified
- Someone has logged into your Paypal account from a strange location.
- Your credit score is low or something with your background history makes you a higher risk customer
- They have detected fraudulent activity on your account.
How to Prevent Paypal from Limiting your Account
Towards the end of my conversation with PayPal, they assured me one last time that only a very small fraction of a percent of people get their accounts frozen and that accounts are rarely frozen for the full 180 days. They also recommended the following guidelines to greatly reduce the chances of this happening.
- If you are expecting to receive a large sum of money, then you should call Paypal ahead of time so they expect to see the extra funds. In other words, if you are planning a large product launch, make sure you let them know ahead of time
- When you first signup for Paypal Website Payments Pro, there’s a survey that you have to take. Make sure that you check off higher numbers in terms of how much money you anticipate making every month
- Contact Paypal to make sure that your account is not limited in any way in terms of how much money you can accept per day. Sometimes limits are placed depending on various factors relating to your credit history or background checks
- Make sure your name or the name of your business is on your Paypal account and that it exactly matches your bank account and credit cards.
- Use the exact same addresses and phone numbers that match your bank account and credit cards
- Always use trackable methods of shipping if you ship physical goods in case a dispute is filed against you
- Make sure that your FEIN or social security number exactly matches the name of your business on the account
- Link both a credit card and a bank account to Paypal
Does This Sound Like Too Much Trouble?
Here’s the bottom line how I see it. If you are in the business of selling informational or digital goods and your revenues are extremely lumpy, then I would go with a regular merchant account and gateway like Merchant Plus. If you have low credit scores or any history of fraud or criminal activity, then go with a regular merchant account and gateway like Merchant Plus. If you never want to deal with the possibility of getting your account frozen or limited, then go with a regular merchant account and gateway.
I hope this was resourceful and served good help, you may kindly subscribe to this site using the form below to get updates to your email. What do you think of this info, kindly share it on the comment and make sure to check out how I used Gmail offline. WorldWebSurfers.com. Cheers
That should be all. With this medium, we want to say thank you for your continued liking and sharing. If you haven't liked this post yet, you may do that by hitting the buttons just above.
If you are a blogger and you appreciate the hard work, whether or not you copied this post, we implore you to kindly link back to this post here, you may do it anyhow you can. We consider that a great contribution.
Looking for something else? Search site here: