Paypal STEALS $90,000 from COLLECTORS!
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- čas přidán 30. 06. 2021
- The PayPal sage continues as collectors reach out to me with their PayPal horror stories. Recently, two collectors reached out with screen shots of PayPal transferred the frozen balance to themselves after the 180 waiting period.
*Disclaimer: I am not a lawyer. I am not giving legal advice. Also, I am going off of the information provided by those who were affected, so let’s just say PayPal “allegedly” stole their money.
#Paypal #Collector
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Do you think PayPal has the right to seize the money in your account?
Helllllllll naw.
This is absolutely insane!! Now, I haven't studied PayPal's terms but I'm curious if they've buried some "fine print" that gives them "legal" means to seize funds. I've been using PayPal less since seeing your first video on this topic but they remain a huge resource for receiving funds in this hobby...making it difficult to just stop using them altogether. Shame.
I would steal everything a drug dealer owned and never regret anything.
Absolutely not! I could understand taking a small fee or something along those lines but all of it, that's just absurd.
Close my account, sure. But holding the funds it's just ridiculous. Even if they took an "account closure" fee, gimme my damn money.
There need to be law prohibiting companies like PayPal from doing this.
I need to apply for a job at PayPal
Mr X!
I thought maybe you were the guy with $65 grand languishing in his Paypal 😂
Me2 lol
@@theflyingninja1 My PayPal’s get frozen a lot actually so I continue to open new ones. But after they screwed Gem over the first time I make sure there’s no money in there.
Hi Mr. X!!!
Even if it IS for abusing friends and family - they can’t just take your money. There needs to be a class action lawsuit against them
Sue them!!! I'm not someone who believes in sueing for everything but this is bullshit!! They need to be held accountable.
Someone needs to raise a class action against them. It's like "Stay back 100 ft. Not responsible for broken windshield " they are still liable. It's just a deterent. Paypal has no clause here, even if they said you signed x y and z.
There is a difference between a truck putting a sign that says “we are not responsible for damages”, opposed to someone actually signing and agreeing to terms that state “we are not responsible for damages” lol
@@BenWayne888 of course. It was just an analogy.
@@collectorscreed haha yeah I understand I'm just saying paypal has a much better case if anyone tries suing than a truck with a bumper sticker. People may end up losing more money if they try taking paypal to court
The should definitely lawyer- up. The whole violating Friends & Family is BS. How can they prove someone isn't your friend.
I'm not a lawyer but they should definitely look for one. It seems like PayPal is using their ToS as an excuse to settle what would normal be civil lawsuits, without actually going to court. It may be that in a court it will go in PayPal's favor due to the ToS but it really shouldn't be up to PayPal to act as their own judge on these kinds of things. If it were for a very small amount I would maybe not bother, but $60k+? I'd be filing something ASAP.
I respect your comments, Gem. Your original PayPal video you made, motivated me to NOT keep any funds in PayPal. Preach on, brother! Maximum respect!!!
This exact reason is why I dont use PayPal.
I will never sell on eBay again and I try to avoid PayPal whenever possible
They better be reaching out to an attorney, because that sounds like a big scam on pay pal's part.
Same experience I have right now. Sadly, the refund option is not available for money sent via friends and family transaction. It's crazy how corporations like this can easily get away with blatant theft.
I had similar experience few months ago, but with the help of *wea_tech* he was the one that finally helped me fixed my account back properly, I suggest you send him a
request
That's freaking insane. I'm glad I don't keep a balance in PayPal and definitely never will. I think they're doing it because they know they can get away with it. Until someone has the means and sense to get a layer to challenge Paypal, it's just going to keep happening.
This is wild, Gem, smdh, you're a good dude for trying to spread awareness, because they can't get away with that.
This could be a class action lawsuit. It be worth talking to a law firm that specializes in fraud which is what this sounds like. I think they’re counting on people not doing anything about this.
That is totally insane. Big corporations can pretty much do anything they want now, I guess
If this is happening to multiple people, they definitely need to be taken to court, and I could definitely see there being a class action suit against them.
that is crazy!!! I have had my account frozen before but no amounts like this. but still PayPal has no right to seize someones money, unless they are the FED's.
These videos need to be made for anyone getting into the collecting hobby/business.
Thanks, Gem for educating us on PayPal money scam.
There is a class action suit in the process actually. It’s being started by The professional poker player Chris Money Maker and his legal representation. If you google this information you should be able to find contact for his lawyer
wow hope so
i googled & found this 2003 now 2021 time limiation ?
Poker Hall of Famer Chris Moneymaker is suing ubiquitous payment processing giant PayPal. In a press release issued late last week, Moneymaker’s attorney, Eric Bensamochan, said that they will be suing PayPal for breach of contract, unjust enrichment and bad faith, “among other causes of action,” for confiscating more than $12,000 from the 2003 World Series of Poker Main Event champion’s account.
By Dan Katz - May 31st, 2021
Two weeks ago, Moneymaker tweeted that PayPal froze his funds last fall, but at the very least told him that he could access them within 180 days. Apparently, that wasn’t the case, as he posted a screenshot of his account, showing a $12,228.55 transfer to PayPal. The company had confiscated his money.
“Somebody has to stand up to these guys,” Moneymaker said. “I’m going to
continue to use my status and my social media channels to expose these
immoral and illegal practices and ask others to join my lawsuit against
PayPal.”
That’s nuts. I had about a grand in there for a while. Took it out mid way through this vid. Thanks for the warning!!
I would steal everything a drug dealer owned and never regret anything.
Then there would be 2 criminals
Low budget/impact batman lol
But of the money you stole from a drug dealer how much of that money did they actually use for drugs ya see the moral dilemma in that ?
Until the “drug dealer showed up with guns”. They tend to do that you know.
Thanks Gem for doing thee videos. It keeps the collecting community aware of the shady business some of these companies try to pull.
They either think they won't get sued, or calculate the opportunity lost of all the fees they "should" have received from the business done through them and keep the money on those grounds. Either way it's the danger of companies getting too big/powerful and there not being enough meaningful competition.
That’s just crazy AF! Never using PayPal again.
Appreciate your insights on PayPal, Gem. I cleared out my PayPal account after your earlier PayPal video - Thanks brother!
If $75 still hurts me for being frozen I can’t even imagine your case
Facts smh
Thank you raising the awareness
The only thing that would make it worse is if the lawyers all had an agreement so you couldn't even sue anyone for damages, am I right?
Screw PayPal, their actions have become criminal lately.
Wow good to know. Thanks for the information. Peace and love!
This is what happens when a corporation gets too big! They relied on us to get them where they are, then they turned against us! Never leave money in PP!
This is insane. Thanks for the heads up. I have to imagine Paypal will give their money back but probably take a fee. Curious to see how this ends.
That is INSANE!!! Super fucked up on PayPals part. Like I totally get fining people for policy violation, but taking all their money is complete bullshit.
I dont see how they can just take your money, that's bullcrap, seems like they are just stealing your money
Hulk. Great vid. This is going to fire everyone up. As far as any crooked companies or people go, put them in a choke hold, and squeeze...no tapout....
Excellent video Gem! Good work. Paypal doxed me to my customers.
WTF. This is insane. I think that's it for me. Done.
Spider-man booth DEFINITELY steals your money LOL
Dom: "They just took $65k from us!"
Ghost Brian: "I thought nothing was stronger than Friends and Family?"
Wow! Unbelievable!
Thanks for the PSA ... again :D
Thx4 sharing Gem, shit we all need2 be aware of!
Any state attorney general would love to hear about this and probably most lawyers.
thanks Gem just took most of my money out, didn't realize they were quacks!
WTF....
Thanks for sharing Gem.
INCREDIBLE
This is truly ridiculous.
Wow....it's crazy to think of what they can get away with.It's all way too sketchy.
1600$ stolen from paypal here... i hate paypal with all my heart. they need to go down fast!!!!
If they had actual damages, they have to explain it in writing and you have the right to challenge reclaim your money if you disagree.
Thanks for this video, I have the same situation where I waited 180 days and after waiting Paypal just took my money
I've watched this video several times. Thank you, one of my side gigs likes to pay me through pay pal, and I do not want that side gig anymore, I need all my money.
Holy shit, this is straight up bananas, hope these dudes get their money back!!!!
Hey Gem. It’s very suspicious when eBay who used to own PayPal has also settled all relationships with PayPal something must be really stinky over there
These people have to sue them.
This is scary as all hell!
Wow!! That's crazy!!
Just sue PayPal, they can’t just take your money. Any lawyer would be happy to take these cases. It’s obviously PayPal being sketchy and lying to customers saying u have to wait 180 days then like u said there is some clause that allows PayPal to take your money after that time. Honestly that’s kinda stepping into defrauding the customers of their money. Get a lawyer.
i think the fine print gets them out of every shady thing they do.
As if it's so easy to pay a lawyer to bring the suit to court and wait however long it takes to get the money back.
@@foodini666 fine print has a funny way of not standing up in court when it’s predatory like this.
But unless you have a lot of money, the money for the lawyer is probably more than whatever they are holding. Filing is going to be couple of thousands of dollars. If it goes to court, that is going to be more. Unless you can sue them for the lawyer's fee too. This is crazy. People should have a right to see the case file if they are going to take the money.
@@jn6305 You seem to know a lot about court proceedings. May I have your license number to look you up and make sure you're legit?
Disgusting. This is the definition of predatory.
After seeing this I’m done with PayPal can’t risk it they think it’s a bank
Yo that’s crazy!
Wow, how is this not a class action lawsuit?
I also never keep funds in my PayPal account. I don't find there's any advantage to keep a balance there.
You can sue pay pal , they can't just take your money no matter the terms and service.
Thanks for the heads up the game is hard.
They're out of control!
Wow wtf thats just horrible.
That’s crazy.
That's WAY too much money to leave in PayPal. Bad money management
Yesterday, i spoke to them, they said they will hold funds for safety reasons and trust on an account. I think thats unacceptable
After watching your PayPal video I've kept a zero balance in my PayPal accounts.
This is nuts!!!!!!
Dang PayPal is messed up
Ever since I watch the first two video on PayPal, I hardly/ ultra rarely even used it.
I guess no one heard of small claims court to sue to get your money back. You don’t even need to hire a lawyer. They usually give you you money when they get the letter from the court house because they know they will lose the case.
Need to file a complaint with the Federal Trade Commission, an Luke others have pointed out maybe a class action lawsuit.
That's pretty damn shady! Nothing like that has ever happened to me but it definitely makes me weary
PayPal must be hurting from loosing that eBay contract.
Yo 💎, good for you in using ur channel as a platform to show PayPal’s shady business exploits. Glad you were able to recover ur potential loss #schoolofhardknocks 🙌
This is crazy man.
That's messed up!
I literally work for P.P. and just spoke to a fellow collector. I was like dam this really happens.
Wow, that’s f$$caked up.
Never keep any balance in a PayPal account.
I just ran upon this channel am glad i did
That's craaazy!
Thats full on theft !!
Hope they have some legal friends to fight this. I've had good experiences with PayPal with secure protection against bad sellers so this other side of the matter I've never had that kind of issue. Sounds like a major headache no aspirin can cure.
such a shame smh
They must have a legal reason for seizing money, but 60K, very suspicious of PayPal to do this.
This is a class action lawsuit waiting to happen.
They still stealing money
Yo that's crazy man, they shouldn't be doing this 🤦🏽♂️
I can confirm this happens. The minute you begin making money from sales or receiving money as gifts from friends and family they will take half of what you make and try to take the rest by closing your account. This almost happened to me! THIS IS NOT EVEN INCLUDING WHAT THE GOVERNMENT WILL TAKE FROM TAXES EARNED FOR YOUR SALES OR MONEY RECEIVED.
They are beyond tripping!
They need to Lawyer Up!
i think they should get a lawyer
I like to thank you for not using PayPal thank you so much I appreciate that everybody else will appreciate that too I like the job you done today and I hope you and your loving family will be having a wonderful day thank you so much for telling us about PayPal