If you’re a user of PayPal and have ever run afoul of the company’s fraud filters, you know how incredibly difficult it can be to get access to your own money once PayPal takes it away. PayPal typically freezes funds for 21 days and has the option to freeze those funds for 180 days. The problem is that some of the paperwork PayPal traditionally demands simply doesn’t exist for some types of legitimate users.
Often to get your own money back PayPal wants sales records and lots of other documentation. If you’re not actually shipping products, producing that sort of information can be next to impossible. PayPal has finally admitted that it understands its fraud filters are problem and its system considers people guilty until they can prove themselves innocent.
PayPal senior director of communications Anuj Nayar has promised that PayPal is looking to make a major revamp over the next few months to its systems. He said, “These are not minor — these are aggressive changes. This is a fundamental shift in our business operations.” He offers no specific details on what will be changed but notes that the changes will make it clear why PayPal has frozen funds and what specific steps users have to take to get access to their funds.
via CNNFiled Under: Technology News