Problems with PayPal?
PayPal is one of the most well-known online payment processors, which most of us selling online use. We all know as well that PayPal is known for that that it can freeze your account and keep your money upto 6 months.
Maria Gudelis, whom I have known for a couple of years now, personally experienced this. Read her email below for some highly useful tips on how to AVOID problems with PayPal.
On Mon, May 14, 2012 at 12:11 AM, Maria Gudelis wrote:OK…you gotta hear about our STRANGE interludes with Paypal…I promise to give you our DEEPEST and most important secretsthat we invested over 40 total hours with PayPal employeesto make sure this doesn’t happen to you.It’s maybe a ‘strange’ email to send to you today butin our total defense…a lot of you THUNDERED messages to ourhelp desk asking TONS of questions like “What Happened, tell us!”So here it goes…our story and lessons learned.
Take a look at our PAYPAL 100k funds frozen storyso it doesn’t happen to YOU!============================== ======7 PayPal accounts ‘frozen faster than a crappy frozen dinner’happened about 45 days ago. Can you imagine notbeing able to take out your hard money earned? Over100k of funds frozen in cyberspace to the PayPal gods.And get this…the worst case scenario…you get yourmoney back 6 months later!I don’t know about you…but we pay our affiliates, our contractworkers by PayPal…and of course Tina’s “kiddy” gas moneytoo on a PayPal debit card!Imagine getting a call from your daughter,while you are traveling and can’t even go to a bank forher…and she says’ “Mommy, I’m at the gas station andit won’t accept my paypal card”That’s what happened to Tina.And to elevate the stress more…we were only 3 weeks awayfrom a MEGA huge launch of our ultimate social challengewhere historically we have brought in over $170,000 in lessthan 7 days, over 6,500 buyers…==============================
=======Can you imagine what a problem to have…not ableto TAKE IN money from your customers?============================== =======What caused it? Could it be GASP…we were makingTOO much money?Check this out…we have had historically over thepast 6-7 years of teaching over 25,000 students all overthe world…LESS than a 3% refund rate.So it couldn’t have been because of the refunds.Well, not that I’m a Nostradamus of doom…But I will say this. This can easily happen to you becausewe do believe that in order to prevent scamsters on theInternet..PayPal and other 3 letter word organizationsare taking a ‘blanket Orwellian’ approach to this.And dang it, it’s frustrating because we all know PayPalstarted their success with the ‘solo-entrepreneur’.6 weeks of “due diligence” later and our accountsare unfrozen and we have a great relationship withPayPal but what was the cause you might wonder?
Here’s 3 things you can do to prevent this happening to YOU!==============================
= ======We do know a few things from our RISK manager thatis frankly, just good business practices that can helpthis from happening to you.Plus I’ll share a VERY IMPORTANT resource you simplygotta have.1. Make sure you check your customer service number thatit WORKS and you RESPOND fast.Here’s what happened, since we have 7 different PayPal accountsand some are over 6 years old…one of them had a ‘older’ customerservice number that we didn’t realize hadn’t been updated.So…when PayPal tried to reach that number…well, red flagswent up.That started the investigation and it domino rolled into ourother 6 accounts as he started to look at the transfers, masspayments etc. between those accounts.So I STRONGLY urge you to right now log into your PayPaland look at what you have in there under customer servicecontact…if you are like me…it might be something you inputyears ago and forgot to update!2. If you have joint ventures or partners…the BEST solutionis to have one LEGAL entity (an LLC or Corporation) youall share.That way all revenues consolidate into that one entity. Thatone legal entity then proper accounting wise sends out the profitsharing money! (trust me, this is a far better solution to do itthe right way accounting wise!)Next best alternative? Phone PayPal to let them know you have‘different’ accounts because of your joint ventures. For exampleTina and I and Art have various JV’s together and so sometimescertain product revenues get ‘shared’ and thus the mass paysoccur in PayPal.Now to PayPal… think about it – they are wondering what theheck is this? Why don’t we see ‘invoices’ in PayPal for that.That’s what they wanted us to do in the future – NEVER payout via Mass Pay and to use their invoice feature.============================== =========Follow the money tip…PayPal makes more servicefees from invoicing then via mass pays.============================== =========3. The third tip is a biggie….have a BACK UP way totake money. Seriously, get off thy duff right now andgo get a 2nd way to take in funds. There are many waysand here are some- merchant account (highly recommended so you can ‘season’ the account)- Amazon payments- Google checkout- Wepay dot com- and others….
=======How to keep your PayPal account SAFE and avoidgetting frozen============================== =======OK, still with me? Good for you…because this stuff isthe LIFEBLOOD to your business!I promised we would share a very IMPORTANT resourcefor you…and for goodness sake…We STRONGLY suggest you click the link below becauseyou can grab “payment protect” for ONLY $7–> PAYMENT PROTECT<– Click Here
And by MIDNIGHT MONDAY (less than 36 hours from NOW)it goes to $97!Is a critical resource for you to have right now.You’ll thank Tina and I for it, you truly will!Talk soon!Maria “money protecting you” GudelisTina “in thoughtful sales” WilliamsP.S. Oh the _____________ from the subject line?Twas “subscription payments” – yes, PayPal does notallow us to do that anymore…a ha – but our merchantaccount will! Yipeeeee!