This. There's absolutely no reason to keep more than $100 in PayPal at a time, ever.
PayPal - Rolling Reserve
- Thread starter mgtarheels
- Start date
This. There's absolutely no reason to keep more than $100 in PayPal at a time, ever.
I take it you don't transact over like $300 a day. It's kind of hard to keep up on something like that when you're transacting a lot more.
We have a number we always wire out at, and I make sure to always answer the phone fast when their "reps" call me. Though I know it's a numbers game, and we're "lucky" so far.
I've had that rolling reserve on my account for well over a year. Sucks, but I got used to it. It happened when some fuckface from WF charged back a $1,000+ amount of design work.
After 12 months, you can call paypal and request them to remove it, but they ultimately decide yes or no. I keep forgetting to call.
After 12 months, you can call paypal and request them to remove it, but they ultimately decide yes or no. I keep forgetting to call.
My biggest issue isn't the rolling reserve, but the minimum reserve they imposed on my account while freezing my assets.
Yeah, difficult to find time for about 3 transfers a day when you're pushing over $1k/day through them.
Thing is even if you drop paypal as your processor you will have this same problem with another card processor if you're pushing volume to them.
Ugh, this is a nightmare of mine. I'm just starting to increase my volume of transactions with them and it would really hamper my monthly finances to deal with this shit. Aren't they supposed to be taking some risk and thus the reason why they get a % in the first place? The way they run the show seems like they have almost no risk if they withhold such a large amount that they never have a risk of loss.
lol every credit processor for high risk requires a rolling reserve, this is standard operating procedure. If you're doing anything that tipped them to thinking it's even the slightest bit riskier than normal, it's understandable.
Even for business accounts you need to sign up using a persons name. Do you give a fake name? Paypal tracks things seriously now because they have to report to the IRS. What about SS or EIN numbers for multiple accounts?
I'm interested in this because I too recently got a rolling reserve, but also because I'd like for customers to see different business names for different products that I sell on the web. Right now, as far as i can tell, one person can only have 1 business account with Paypal and one associated business name. If you chose "Bob's Flowers" as a business name and you also want to sell IPods somewhere else you're fucked.
yep, cost of doing business. Sorry but this is reality. I've spent my time pissed, now just work harder.
Just launched: Bofu's paypal money transfer bot for the PP haters in all of us. Only $100/m but there's a 5% rolling reserve.
Just launched: Bofu's paypal money transfer bot for the PP haters in all of us. Only $100/m but there's a 5% rolling reserve.
This. I've a 10% rolling (kicked in right after I started clearing 10k a month, I assume that's what did it since I don't have account issues or chargebacks), and it isn't a big deal. After 120 days, roughly the same amount is coming back from reserve is leaving to reserve so it's no big deal.
It's common practice by Paypal mine has been that way for sometime now. Nothing you can do they will just say you're working with digital products or some bs.
Slowly cut the ties and setup a secure CC capture form that is you best bet.
Welcome to the club! They are a fun company huh
Slowly cut the ties and setup a secure CC capture form that is you best bet.
Welcome to the club! They are a fun company huh
Rolling reserve is fine, but 120 days is a bit overkill, no? 120 days equates to about 3 years in the online world, considering how much quicker things happen online.
I've had 60 days before, which is more realistic. First time I've heard of 120 though.
I've had 60 days before, which is more realistic. First time I've heard of 120 though.
Bullshit, if you use "mass pay" to pay your people, so they don't lose a huge chunk of their pay, or just to simplify payroll, then you need plenty more than $100 in your account.
Last time I checked, you can mass pay people without money in your account. It just comes out of the bank account it's linked to.
...no? if it's a rolling reserve that means you maintain that as long as the account is processing volume. on top of that, he's lucky it's not 6 months like some processors are requiring.