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Mon July 1 2019 22:03:21

PayPal Places Fund Withdrawal Under Review for Security Reasons

By: Reader

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Dear Ina,
When I went to withdraw money (and not the whole balance mind you) I got an INTERESTING response from PayPal.

"We've received your request to withdraw money from your PayPal account to your bank account. At PayPal, our primary concern is making sure that your money is secure."

Secure? Does that mean they don't have control over their own money?

"We've placed your withdrawal under review and this will last for up to 24 hrs."

I've paid and shipped, they oked the sale  - what's NOT SECURE about the funds???????
S.

Note from the editor: This is a recurring issue - there's an 8-page thread on the PayPal boards spanning the years 2012 - 2018. It isn't clear under what circumstances PayPal puts a hold on withdrawals and how many accounts are impacted at any given time.

Comments (22) | Leave Comment | Permalink
Readers Comments

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: comments This user has validated their user name.

Mon Jul 1 23:42:43 2019

If you don't have a static ip (and most people don't) they could have seen a change in the IP address the request came from and issued the hold. Or they could have had other issues with withdrawals to that bank.

I wouldn't worry about it unless it starts happening regularly. Then I would contact paypal and ask them why.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: pace306 This user has validated their user name.

Tue Jul 2 07:40:20 2019

I’m the op on this.

I asked them what it means and they refuses to say.

I withdraw all the time so there is no security issue.

In the past (ages ago) when money was held - it never said the funds weren’t SECURE.

They we’re withdrawn from the same computer, same time during the day, not a big amount, same ISP etc.

The point is what part ISNT secure. They have all the info and nothing has changed.

Contacting them was useless aka they are hiding something

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: TrickyMick This user has validated their user name.

Tue Jul 2 12:05:07 2019

Just happened to me as well, held it up for additional 48 hours and put it into the weekend, same amount I always draw, plenty of cushion left in paypal. Unusual.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: mcposty This user has validated their user name.

Tue Jul 2 12:23:01 2019

Paypal are criminals, always have been always will be. Government needs to look at them very closely how they act and slap them with fines and arrests

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

This user has validated their user name. by: Lightning

Tue Jul 2 13:01:29 2019

I tried to withdraw money yesterday and PayPal didn't let it go through.  At the end of the process, I got a message ''There is a problem with your account.  Please contact Paypal to correct it.''  Never had a problem transferring money to my bank before.

I could not think of anything that changed, or would be suspect, so I tried the process again.  The transfer went through as normal on the second try.  Something's up over there.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: Bubbles This user has validated their user name.

Wed Jul 3 01:02:16 2019

My guess is they do this ( has happened to us lately several times) is they then hold the funds and gain on the overnight money market at our inconvenience.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: Carol This user has validated their user name.

Wed Jul 3 01:19:19 2019

While it may be fun to vent at a big entity like Paypal, my guess is that this happens only when there's reason to suspect a hack of some kind (which I imagine happens a lot more often than we know about).

I'd a lot rather have this kind of inconvenience than have no action taken and find that my account has been hacked.  

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: comet This user has validated their user name.

Wed Jul 3 01:39:55 2019

I had a big issue a few months ago where I did a "free sample, u pay shipping".  I used my PP debit BECAUSE I knew there was a limited amt i. There,  at that moment,  in case something went sideways.  Ffwd to the next month,  when suddenly my ENTIREA BALANCE went missing,  to TWO different companies I had never heard of.  After dozens of phone calls,  hours on hold,  I finally discovered that my d3bit was being charged BY this samplenco,  under different names,  at a few hundred a clip!  I canceled the debit,  got refunded,  then the very next MONTH this happened AGAIN, under more different names,  and a new,  never used debit card number!!  Turned out-- PP never canceled the OLD card!!  SO back to phones.  Took 10 WEEKS to straighten out.  Did get my funds back.  A few weeks ago I get an email--- "Because we forgot to cancel your card, we are refunding the same amount as was refunded".  Ummmm.  Ok,  thanks, but---- just--- odd.  I did get the $$$ tho.  

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: SellerGirl This user has validated their user name.

Wed Jul 3 07:32:43 2019

There may have been suspicious activity on an account associated with your account, like a buyer or a vendor you do business with. It doesn't mean your money is at risk, it means they are checking you out to see if your activity could indicate illegal transactions have been taking place through your account.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: pace306 This user has validated their user name.

Wed Jul 3 10:52:28 2019

Sellergirl :)

I’ve been a paypal user with the same info since 1998 ..... it’s not me !

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: longtimepowerseller This user has validated their user name.

Wed Jul 3 15:30:23 2019

I've had the same Paypal account with the same email address for 20 years also.
I got the same message last night when I did a normal nightly withdrawal that I do every night for about the same amount.
When I emailed them, I got a canned response. When I emailed again this morning, I got a response saying they can not answer any questions since my email is different then what is on my account (it's not).
They win, they can make an extra few day's interest if they need it that bad......

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: mcposty This user has validated their user name.

Wed Jul 3 16:14:39 2019

Theres zero reason not to tell the owner why. Sorry but not telling why means paypal is doing illegal things, like purposefully holding your money to gain interest.



Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: Tiffee Jasso This user has validated their user name.

Wed Jul 3 21:45:58 2019

I have an idea that once your are forced into other payment carrier, you will miss Paypal. I have been with Paypal since the beginning and they paid me $5.00 to join. I get access to my money immediately. I do not have to wait 10 days to get back the amount I am out of pocket for shipping or the price of the item. Nor do I have to pay for a another bank account so as to protect my bank account because of the sharing of my banking information with affiliates, including those in Asia and Russia just for starters.  

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: purpleiris This user has validated their user name.
Web Site

Thu Jul 4 00:18:30 2019

''I'd a lot rather have this kind of inconvenience than have no action taken and find that my account has been hacked.''

That's the way I look at it. I recently shared a situation I experienced with PayPal when moving from one state to another. I had noticed after changing all of my contact info that a limit was placed on my account, which I never had before. I contacted them and was told it was a security measure to protect themselves and me from fraudulent activity. All I had to do was send them a copy my new drivers license and the limit was immediately removed while on the phone. I didn't have to do that, but the limit would have remained for a certain period of time had I not.

I didn't find it an inconvenience at all. Yes, it took about 15-20 minutes to get cleared up, but it felt good to know that PayPal was watching out for me. I've had the same business account with them since 2000 and this was the first and only time I had moved out of the Houston area, which I'm back to now. So I'm sure that was a red flag that they picked up on. I didn't have a problem being asked for a copy of my license, either, because it let's me know that they take my account security seriously.

I know it can be frustrating to have to deal with such things, especially when you're busy and just trying to get things done. I'm sure I would have been initially upset if my case had involved not having access to my money, but I was just double-checking all of my settings after updating everything. However, discovering their reason would have made me feel better.

After reading responses, it sounds like PayPal is having known security issues and are in red alert mode. Despite any inconveniences it may cause, I feel my money is secure with PayPal. Always have because they have always shown how serious they are about keeping it secure.

If they are having known security issues, you shouldn't expect them to be forthcoming about it. They don't want to cause an unnecessary panic among customers, which often leads to accounts being permanently closed (just like they pull their money out of banks in a panic). I don't see it as though they're being deceptive. A matter of self-preservation, maybe, but they always stay on top of such issues and don't want customers to be concerned.

They have a whole department dedicated to security and you'd be surprised just how many ''issues'' they deal with that we never know a thing about because they took care of it. It might cause a temporary interruption of services, but that's just fine by me because I know they've got my back.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

This user has validated their user name. by: The End

Thu Jul 4 07:20:15 2019

SCREW PayPal.
You DON'T need them.
But if you Do, I feel sorry for You.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: pace306 This user has validated their user name.

Thu Jul 4 19:14:24 2019

It’s not our responsibility to have to deal with THEIR security issues.

We pay them a percentage to deal with these things and if there’s an issue then “too bad on them”.

We can’t see any info, we aren’t involved in any part of the process and they said OK TO SHIP - that should be the end of it.


If they say don’t ship due to an issue then it’s on me if I still ship.

But to say nothing and claim there’s a security issue is BS.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

This user has validated their user name. by: Lightning

Thu Jul 4 22:24:55 2019

It would take a lot to get me to leave PayPal.  It's been working for me with about 100% reliability for over 20 years.  I wish EVERYTHING worked HALF as well.  

In that time, I've switched car brands, phone carrier, banks, grocery stores, big box stores, cable providers, employers, and dozens of other things I can't think of right now.  I'm sticking with PayPal (and Coke products, too).

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

This user has validated their user name. by: The End

Thu Jul 4 22:45:59 2019

No Way in HELL would any one in their right mind go for this in the PayPal agreement :
"For all purposes hereof, you hereby grant PayPal and Yodlee a limited power of attorney, "...
BULLSHIRT ! ! !
That's where you're getting snookered.

https://www.paypal.com/myaccount/wallet/flow-transfe
r/addBank/banks/new

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

This user has validated their user name. by: Lightning

Fri Jul 5 00:43:41 2019

@The End
I would have liked to read that page.  I copied and pasted it, but the link didn't work.  You're 0 for 1 out of the gate.  PayPal is a million for a million (or so) every day.

Perminate Link for PayPal Places Fund Withdrawal Under Review for Sec   PayPal Places Fund Withdrawal Under Review for Sec

by: purpleiris This user has validated their user name.

Fri Jul 5 08:16:06 2019

@Pace, you have to understand that matters of security are actually a confidential matter. It involves more than just you and your account and they cannot legally share information about another person's account.

Here's a good example...I had problems early last year with someone writing bad checks in my name when I don't even have a bank account and they were being written in states I've never been to. I started getting notices left and right from collection agencies about all these bad checks (there are 8 that i know of). When I tried calling them to sort things out, I couldn't get the information needed to clear my name because the bank accounts being drawn on belonged to other people.

Fortunately, a detective in one of the states was on top of things. He caught one of the guys (it's a ring of people) and contacted me. I told him what I had been going through and he helped me get things sorted out. He was the one who let all of these companies know that it wasn't me. The only thing I could do personally was file an identity theft report with the FTC. Luckily, all they had was my name and driver's license number. Other victims weren't so fortunate -- those whose identities were being used and the people whose bank accounts were being hit.

So, you see, even though it was my name being used, the companies involved were legally bound to keep certain information from me that was required in order to clear my name. I wasn't even asking for confidential info; just the name of the bank, their customer, the check number, amount, who it was written to and when.

If it weren't for that detective, I don't know what I would have done. Before he called, I was met with nothing but obstacles and it's MY name being used and MY credit being affected. They were coming after ME for the money. How would I have cleared my name without that detective?

So, there are reasons PayPal cannot always be forthcoming when there's a security issue. It's about more than just self-preservation, really. It may not seem right, but they do have laws they have to abide by. Just as I learned last year and hope I don't have to go through again.

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