Recently, there have been allegations and a class-action lawsuit filed against PayPal, accusing the company of stealing its users’ money.
So, if you use PayPal, you are probably wondering: did PayPal steal my money? and what would I do if they did? I looked into PayPal stealing money from its users, and this is what I discovered!
Did PayPal Steal My Money In [currentyear]?
PayPal does not “steal” money from its users. However, PayPal recently has had allegations of stealing from customers in [currentyear]. The allegations have resulted in a lawsuit being filed against PayPal. Furthermore, PayPal sometimes will permanently freeze a user’s account and hold their funds, and use them to pay any complaints against the user, which could be considered “seizing” funds.
If you want to learn more about if PayPal steals your money, what to do if you think your funds are stolen, and more, then keep reading!
Does PayPal Steal Money?
Officially, PayPal does not steal your money.
However, PayPal will at times hold your funds or permanently freeze your account for security reasons if you have violated the terms and conditions of your account.
Additionally, if PayPal permanently freezes your account, your funds will be held for up to 180 days and used to pay for customer disputes and claims against your account.
Moreover, keeping your funds after your account is permanently limited could be considered “stealing” your funds.
However, note that PayPal has the right to do this, and it is stated in PayPal’s User Agreement.
Furthermore, PayPal has recently been accused of stealing money. Allegedly, PayPal unlawfully froze some accounts without any warning, and seized the funds in the accounts.
Is there a Lawsuit Against PayPal?
Unfortunately, there is currently a class-action lawsuit against PayPal.
Moreover, the lawsuit allegedly claims that PayPal wrongly permanently limited the plaintiff’s account without warning.
Then, after the 180 holding period, the company wrongfully seized their remaining funds.
There are three (3) plaintiffs in the lawsuit, Lena Evans, Roni Shemtov, and Shbadan Akylbekov. The lawsuit was filed on Jan 13 in California’s federal court.
Additionally, the lawyers representing the plaintiffs are Eric Bensamochan and Deborah C. Silver.
Furthermore, the plaintiffs are seeking restitution, compensatory damages, punitive damages, treble damages, and injunctive relief.
As well as the hope that any other PayPal users with the same issue can also get their money back.
What If PayPal Stole My Money?
Unfortunately, there isn’t much you can do if PayPal has “stolen” your money.
If you believe your funds were wrongfully frozen and seized, you can contact PayPal directly and try to speak with customer service.
However, if your account has been permanently frozen, speaking to customer service probably won’t get you anywhere. Therefore, you need to speak to someone higher with more authority.
Furthermore, to contact PayPal you can go to PayPal’s Contact Us page and choose:
- “Message us”
- “Ask the community”
- “Resolution Center,” or
- “Call us”
You can call 1 (888) 221-1161, or email PayPal’s Executive Escalations team at executiveoffice@paypal.com.
Additionally, PayPal’s Executive Escalations team are the people who directly deal with any complaints, disputes, claims, etc.; they are the ones who will be able to help you the most.
In addition, there is also the option to create a lawsuit like the plaintiffs in the recent lawsuit have.
However, if the plaintiffs win the lawsuit, you shouldn’t have to worry about the same situation happening again.
Furthermore, anyone PayPal has ever allegedly “stolen” money from will most likely be able to easily make a claim against PayPal and get their money back.
To know more, you can also read our posts on what to do if you can’t use PayPal anymore, can you get scammed on PayPal, PayPal trends and statistics, and how long do PayPal refunds take.
Conclusion
Fortunately, PayPal will not steal your money, even though the company has been allegedly accused of stealing some users’ money. Furthermore, if you believe that PayPal has wrongfully frozen your account and seized your money, you can contact PayPal Customer Support for help.
