Do NOT let PayPal push you around

[HogKiller]

As an FYI, Venmo is PayPal . I have a small business and under the law as I understand it, Venmo has to report receipts over $800 or so, well some friends sent me money small amounts, guess what, Venmo is reporting this as income, because my PP account is under my business name. Needless to say, Venmo can go perform a physically impossible act. Sadly I still have to use PP, can't get away from it for some things.

 

[ThomasT]

Hello again everyone,

I don't mean to beat a dead horse, but I just have to show you this wording which is a part of the text sent to the Texas Department of Banking, which by the way is a big fat lie. Trust me, you will have to read this more than one time to realize how craftfully worded this is. Wonder how many lawyers it took to come up with this crap.

ThomasT

 

[ThomasT]

As an FYI, Venmo is PayPal . I have a small business and under the law as I understand it, Venmo has to report receipts over $800 or so, well some friends sent me money small amounts, guess what, Venmo is reporting this as income, because my PP account is under my business name. Needless to say, Venmo can go perform a physically impossible act. Sadly I still have to use PP, can't get away from it for some things.

Hello @HogKiller ,

So sorry to hear that. You might consider doing what I did and that was set up a website with ecommerece. A buyer is a whole lot safer buying an item from you using his credit card.

ThomasT

 

[HogKiller]

I"m a smidge confused, you received funds, you refused funds, funds were, in theory returned to sender. IF this is the case they WHY is PP trying to withdraw funds from your account? Or is that the real question?

 

[HogKiller]

Hello again everyone,

I don't mean to beat a dead horse, but I just have to show you this wording which is a part of the text sent to the Texas Department of Banking, which by the way is a big fat lie. Trust me, you will have to read this more than one time to realize how craftfully worded this is. Wonder how many lawyers it took to come up with this crap.

ThomasT
View attachment 389095

Oh no, keep on flogging old Nellie. IF PP is considered a bank then perhaps it can be considered that the funds were indeed received...BUT they give you the option to refuse to accept the funds so...are they trying to have it both ways? I did a search and I can't find a darn thing about declining a payment. Tried several different phrases/words and nothing.

 

[ThomasT]

I"m a smidge confused, you received funds, you refused funds, funds were, in theory returned to sender. IF this is the case they WHY is PP trying to withdraw funds from your account? Or is that the real question?

Hey again @HogKiller

Right on the nose my friend......can you say, Scam....

Look at this photo, this is a print screen from my PayPal account evening , 8:14pm, showing that the money had in fact ALREADY BEEN REFUNDED to the buyer. Only a couple of hours past from the time the funds were sent to me until they had been returned to the buyer's account. However 2 days later PayPal withdrew the money from his account and showed a zero dollar balance. PayPal screwed the buyer and they tried to screw me.

ThomasT

 

[ThomasT]

Oh no, keep on flogging old Nellie. IF PP is considered a bank then perhaps it can be considered that the funds were indeed received...BUT they give you the option to refuse to accept the funds so...are they trying to have it both ways? I did a search and I can't find a darn thing about declining a payment. Tried several different phrases/words and nothing.

Hey again,

PP showed the funds "On Hold" ( not available to me ) until I give them my Tax ID number. Remember, I don't have a Tax ID number. SO, I never received the funds.

ThomasT

 

[Ranchibi]

PP is being scandalous is all I can say........very bad business ethics for sure.....

 

[Northwoods22]

I gave up on PayPal long ago. Too many hassles and horror stories.

 

[rcs9250]

I ordered an item from Midway USA yesterday. They had a link at checkout referencing PP. I don’t have PP but was curious so I clicked on the link. Interesting.
Choose wisely. We need to stick together.

 

[ThomasT]

I ordered an item from Midway USA yesterday. They had a link at checkout referencing PP. I don’t have PP but was curious so I clicked on the link. Interesting.
Choose wisely. We need to stick together.

View attachment 389256

Hello @rcs9250

Thanks for sharing this information and I sure do appreciate Midway USA standing up for our sport / hobby. Sure wish all businesses would follow their lead.

ThomasT

 

[DesertSilver]

I quit using them a few years back after they took funds out of my account and returned to the buyer who never bothered to return the item to me. If I use ANY electronic payment I use a prepay debit card. Fees are a bit much but no one can steal funds that haven’t been deposited. Not true of a checking account.

Rick H

That's why I always refused to link my checking to them. If on the very rare times I use them I use a CC. Yes they charge me more but I recoup some of that with the points I earn.

 

[uladz]

Wow, what an incredible story, thank you for sharing! I used PP for 10+ years, probably close to 15 years, without any issues, but this story makes me think twice now if I want to keep using PP in the future. By the way, only payments for "goods and services" are reported on 1099-K to the IRS, that's why I only accept PP F&F payments that are not considered taxable income. This and the fact that F&F transactions are final and cannot be disputed. Anyone have suggestions for alternative payment platforms? Venmo (now owned by PP), Zelle (bank-to-bank payment), or Cash.app come to mind.

 

[jeepsrdreaming]

Wow!

 

[rcs9250]

Wow, what an incredible story, thank you for sharing! I used PP for 10+ years, probably close to 15 years, without any issues, but this story makes me think twice now if I want to keep using PP in the future. By the way, only payments for "goods and services" are reported on 1099-K to the IRS, that's why I only accept PP F&F payments that are not considered taxable income. This and the fact that F&F transactions are final and cannot be disputed. Anyone have suggestions for alternative payment platforms? Venmo (now owned by PP), Zelle (bank-to-bank payment), or Cash.app come to mind.

The last alternative is barter. Govt absolutely hates it because there is abdolutely no way for them to control it. But if you only want money, it ain’t gonna work.

 

[sjs]

Guess I have been out of touch. I had no idea all of this was going on. I will end my account there as well.

 

[uladz]

The last alternative is barter. Govt absolutely hates it because there is abdolutely no way for them to control it. But if you only want money, it ain’t gonna work.

Barter can work, but it's almost impossible to match trade value, so it's always certain that some exchange of cash will happen anyway. Meeting face to face and paying in cash also works fine, but the problem is that it's restricted to local sales and trades only, and from my experience it limits your options vastly. Money orders cashed in USPS office for cash still work fine as we have already discussed in another thread .

 

[John "spysir" Blount]

And the decades go by.
Everyone remember when Paypal caused Matry at Silver Streak Sports (one of the best to purchase a Career 707 from) to go out of business as ALL airguns were prohibited so they froze his account? Back then that was enough most air gunners dropped them.
History, meh.

ohn

 

[ThomasT]

Hello everyone,

Just another update with this &^$^^%#% PayPal crap. Manny with their Collection Department called me AGAIN today ( 09/25/2023 )claiming that I still owe them for the money that they never sent to me . I'm telling you fellows, be very careful if you use PayPal.

ThomasT

 

[beerthief]

I have extended my drive one way to pay cash and have good in hand . I will drive most anywhere in USA to go to a show , but single F2F deals are an 10 hour round trip . used to be 8 hour round trip .