Kevin Aylward, who has been banned from using PayPal at Wizbang because of its very occasional pornographic content, passes on another horror story about the company.
PayPal has taken advantage of their near-monopoly power, I’m afraid. The other day, they required me to give them my bank account information to “verify” my account–even though I had a $250 cash balance in the account. I called and they explained that, after you spend $2000, they require you to “verify” regardless. I explained that I’ve been a customer for three years–that verifying should become less necessary after establishing a track record–and that, besides, since I was trying to pay someone $25 and had $250 sitting in an account controlled by PayPal, verification was rather unnecessary. Logic was of no use.
Kevin is likely right here: “[R]ule number one for using Paypal – don’t leave your money there.”