Did PayPal shut down
Lifehack, you could be running 100% legit business but if
Even transferring your own money to your bank account to fast from the time you received the funds in Paypal. Crazy right! And when they shut you down that’s it. Call support all you want, they will just politely tell you to go screw yourself.
They have been shutting down so many accounts in 2019 already, and I’m sure they have a script ready for when you call with the blues!
The first thing you should know is that PayPal is NOT a bank! Yet so many of us treat it as one. Get our Paypal debit card, download the app, and we feel good to go!
But the truth of the matter is that if PP went bankrupt tomorrow and you had $20,000 in your account. You could say goodbye to that money.
And your money in your business PayPal is NOT insured by FDIC.
Pulled directly from PP site: “If you convert your PayPal Personal Account into a PayPal Business Account, your funds will no longer be held in our custodial accounts and will no longer be eligible to receive the benefit of FDIC pass-through insurance protection.”
So, What do you do if you, unfortunately, get your account shut down? Well, they stop you from collecting & sending money. But they can’t stop you from refunding.
So guess what! Log in and refund customers! Make sure you message them to let them know the situation, and simply resend them an invoice from Square, Intuit, or by another means to collect your funds.
Zero out your PayPal account and move on with your life and get a real merchant for your business.
And if you’ve made it this far, don’t try to rekindle your love. PayPal already broke up with you and they are not looking for texts from their ex’s.
If you want to know more, just read the PayPal User agreement & Google search “PayPal Sucks”