issue with Paypal acct closure

• zentan69

  7 Dec 12, 15:24

  Hi All, I want to relate my bad experience of signing up an account with Paypal. If you are considering to sign up for an account with Paypal - DON'T I signed up an account with Paypal earlier and when one of my credit card payment trnasaction reached $7,500, Paypal starting asking me to provide personal details for verification (or so they say), like photo ID and payment transactions with my address. I find this ridiculous - Paypal should have done the verification process at the point of the individual's signing up for an acccount. I refused to submit the said documents, and Paypal foeeze my account and put it under "Limited". which lterally means that I cannot use the account to pay for anymore new purchase transaction. As I have decided not to use Paypal service anymore, I called Paypal service hotline to clsoe my account and was shocked that Paypal refused to close my account giving the excuse that my account was "limited" and I had to submit the requsted documents to resolve the limited account status before they will consider to close my account. I find this unresonable as it only matters if I want to continue to use the paypal service than I will have to submit the requested documents; but I have decided not to use the Paypal account and woiuld immediately want to clsoe the account, I do not see the rationale for the need to submit more of my personal data to Paypal when I want to clse the account. The person (Jay Low) from Paypal I spoke to told me that I could just leave my account as is, that is under "Limited: status and do nothing. To that, I told him (Paypal) that it's not right that the company is still holding my personal data in Paypal's database when I have already declare that I do want to continue to use Paypal and I want to close my account. This is sheer violation of consumers' rights and unlawful to do so against the will of the individual. And I insisted that Paypal close my account and and stop keeping my data in its database. I have lodged a complain to the MAS to look inot this unfair and unethical business practice of Paypal. I am relating this bad experience to forwarn eveyone and consumers out there of this unfair and unethical practice of Paypal and do think carefully if you feel comfortable for Paypal to hold on and keep your personal data in its database and refuse to remove it even upon your request to close the account. Here is a link to a similar bad experience with Paypal by another person: http://marc.perkel.com/2004/09/15/paypal-refuses-to-close-my-paypal-account/ Anyone of you who had similar bad experiences with Paypal please share it here for all to know and make an informed decision about signing up with Paypal. Hear from you guys.... .
• M the name

  7 Dec 12, 15:55

  The reason why a lot of people use paypal is because it is so easy to use, for example if you want to make payment, you just need details like the other party 's email or moblie phone and press "continue" button within an short period of time, paypal will update the party's payment status by their mobile phone which mean they receive their payment faster. Paypal even allow you to pay in different currencies.

     Secondly most auction and online shopping platform like eBay prefer paypal, 80% of eBay buyers are more likely to buy again if PayPal is offered while 5 out of 6 eBay buyers prefer paying with PayPal.So if you didn't like paypal, majority of the market is not going to give up paypal just because you cannot control your spending.

    Finally nowsday local bank made it very troublesome to do internet banking online, like DBS and UOB, you must have an iB Secure "Token" Device to provide the secure number for you to log in, if you lost the token, you need to pay about another $20 to get an new one, otherwise you cannot perform any iB transaction : http://dbs.com.sg/personal/ibanking/newtoken

• ditzy

  7 Dec 12, 16:07

  I stopped using paypal after my account was hacked. Now i just do the old fashion cc way.