Update 2011 had its PayPal account frozen with about a month to go to the conference. The account was frozen for two weeks. During this time, new sales amounting to over £11,000 accumulated in the account but we couldn’t withdraw any of the money. After two weeks, PayPal slapped our account with a 90-day 100% rolling reserve. This means that all money that goes into our account stays there for 90 days. We can’t even use this money to issue refunds.
We stopped accepting PayPal after this and we will be closing our account once we have managed to withdraw our money.
Full story: http://aralbalkan.com/3898

Update 2011 had its PayPal account frozen with about a month to go to the conference. The account was frozen for two weeks. During this time, new sales amounting to over £11,000 accumulated in the account but we couldn’t withdraw any of the money. After two weeks, PayPal slapped our account with a 90-day 100% rolling reserve. This means that all money that goes into our account stays there for 90 days. We can’t even use this money to issue refunds.

We stopped accepting PayPal after this and we will be closing our account once we have managed to withdraw our money.

Full story: http://aralbalkan.com/3898

  1. conferencesburnedbypaypal posted this