Like a lot of people that do business online, I use Paypal every day for both sending and receiving money. It’s really the easiest way to conduct business. To receive payments from clients who wish to pay by credit card, I don’t need to have a merchant account – the money just goes directly to my Paypal account, and I can have it transferred directly into my bank (or get cash from any ATM). To make a purchase, I pay with Paypal and the money either comes from my checking account (immediate transfer) or is charged to my credit card. Simple!
Well, not always that simple. Here is part of an email I received this week:
This week has been kind of a nightmare for me. Both of my Paypal accounts have been shut down…Forever they tell me.
It was a form letter telling me that my account has been “limited”, and saying that this was a “result of a routine account review activity”.
I called the “contact us” number through my account and spoke a surprisingly friendly woman named Audrey, who assured me that this was nothing more than a standard review of my personal and business account.
Two days later I received a message that “my appeal has been denied”, my personal and business accounts had been terminated, and that they will be holding over $5000 of my money for the next 180 days.
Can you imagine the nightmare? What if the money in your Paypal account was needed to pay your bills? What if you needed that account to conduct your business?
I am putting this on my blog today to help you avoid being in that situation.
Garry Sayer, a respected internet marketer in the UK, has written a fantastic guide on how to protect your Paypal account. It’s called Paypal Buddy: How to Stay on the Good Side of Paypal.
I bought this guide and highly recommend it. It’s something that you want to have handy if you should ever receive a notice like the one above. You will learn not only certain things to do ahead of time to avoid a problem, but also exactly what actions to take if you should get an email from Paypal about a problem with your account.
The information is very inexpensive and could come in handy some day (and Garry offers a 60-day money back guarantee if you’re not happy with it).