“The number of businesses impacted by the PayPal crackdown has continued to grow since we first warned of the situation in mid-November. As the volume of frozen accounts escalated, we advised companies to draw down funds or risk them being locked away. Now one of the industry’s trade bodies has issued clear guidance for businesses as yet unaffected. It seemed as though PayPal was downplaying the situation in a clear attempt to delay account owners from drawing down funds so that it would have cash on hand to meet any refund claim during the 180-day period following the freezing, prior to account closure.”
ARTICLE LINK:
Payment Guidance Being Given to Businesses
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