Money was recently held in my account that forced me to postpone an event that was supposed to been held sooner and as a result forced me to lose sponsors and vendors for the event. I sent an email asking why the funds were being held and what the funds being held was for. Paypal emailed me back stating to call them to have the funds released in other words. But this failed to be true. I was told on the phone that the only way that the funds would be released is if the buyer confirmed that they received the item that was bought. The item is basically a ticket. When doing research on the fund holding, the only reason that they would hold funds was if it was a non-performer account. My account had been active for over 6 months and has had numerous of payments in it that was over the amount that they were holding recently. Now I have moved the date of my event, the funds are still being held for long periods of time and I’m afraid I might have to postpone my event again if they don’t release the funds on time. I have lost several sponsorships because of the postponing of the event and the trouble that Paypal has caused with it being my payment processor for the event. Several companies that were vendors for my event has stated they want full refunds because of the postponing of the event, which is only the fault of Paypal for holding the funds making it difficult to keep the date of the event as it was.
What would you like the company to do to fix the problem? (optional)
I would like for Paypal to reimburse me for the funds that was lost or sponsor the event in the amount of the funds that was lost. We have had 3 sponsorships fall out for this trouble and 10 vendors to request refunds. The amount comes up to $8,450.