PayPalReviews 2,130

"If you didn't know PayPal reports your transaction data to the IRS, it's possibly because the legislation is relatively new. IRC Section 6050W became law in 2012 and only went into effect in 2014 as people began submitting tax returns. The new law states that PayPal will report details of your account directly to the IRS if you meet the following limits in a calendar year:

$20,000 in gross payment volume from sales of goods or services in a single year
200 payments for goods or services in the same year
Once you cross those thresholds, PayPal will send Form 1099-K to the IRS, with a copy issued to you.

Be aware that the figure provided will be a gross amount. Shipping charges and chargebacks will not affect the total; you will only see the total amount of money received into your PayPal account, excluding any personal payments received. It's critical that your own records match the figures stated on the 1099-K," (Avalara.com)

Paypal, once was a decent company I have been a member for over a decade then I noticed paypal allowing theft to occur not just to me but others. One such case is a site called Newfrog.com, there are complaint of fraud, and fake items being sold to the public for over 5 years and Paypal still allows them to steal funds. The company is fake, the information is fake as well as the items they sell. Paypal just lets it happen. Want to report fraud? Nope Paypal has no system to investigate at all they say file a claim, meanwhile for 5 years Newfrog.com as an example uses then to cash in. DO NOT TRUST PAY PAL, THEY OPENLY ALLOW SCAMS, AND DO NOTHING TO ADDRESS THESE PROBLEMS!

I never had such a terrible experience anywhere. I had a problem with conversion as the app was charging for conversions that I didn't want as I was trying to send but they were forcing me to send US$ and charging conversion. Sometimes people would send me US$ because Paypal would firce them to convert from I contacted customer service 6 times and explaining in details with photos what's my problem. Their answers were like they didn't read the problem at all. After the 6th still polite email from me, they decided to close my account with no option to open another one. Incredible! Wow! Probably doing me a favour.

It's not perfect... but it's better than risking a credit card hack.

I've been using PayPal for eBay sales&purchase transactions & sending/requesting money for more than a decade&1/2.

Sure... the fee percentage is higher than the standard credit card line, but used correctly, one never runs up a massive debt.

Sure... it's a standard 3% for transactions, but it's better than running up a charge account at 29% compounded, right?

Nothing in life is free... use resources wisely... ANY resources...& you won't live a life in servitude to debt.

PayPal is decent enough.

End.

They said they didn't understand my business model so they closed my account with $30,000 in it. Didn't give any other reason, and were incredibly rude when doing it.

When Paypal closes your account, they hold ALL of your money for 6 months and make interest off it. It is impossible to get the restriction removed, even if you provide evidence.

They are the scum of the Earth, and I wish them harm and misery, along with everyone who works for them.

If you think you're always safe using PayPal for transactions, think again! I made a booking on Airbnb for a longer period and therefore, a large deposit amount in Euro. Although I had nominated my Euro-denominated credit card for this purchase, the debit went automatically to my A$ bank account, which was not funded for this purchase. After about a week, PayPal debited the credit card with an amount that was 10% greater than the purchase amount.
Upon contacting PayPal, the supervisor claimed that this was a currency conversion charge that I had to pay as the amount had been converted from Euro to A$ and back to Euro. The fact that PayPal system made the conversions without regard to my preferred payment method, made no difference.
I no longer trust PayPal and have closed my account.

Hello, I want to share my experience with anyone not sure about the PayPal service:
1) I wanted to buy some tickets only possible to pay over PayPal... so I made the account, it did NOT work. Spend hours trying to make the payment and unblock all the blocks they made for no reason. Also, they wanted access to all my financials (CC, bank accounts, passport-WTF?) for it so I deleted it afterwards, without having the tickets, of course.
2) I needed the account for a refund from a seller in China so I made it again. They LIMITED (understand blocked) my account for "strange activity", which was supposed to be ONE payment of not even 200 USD and also put the payment on HOLD! Still waiting FOR DAYS to receive the money...
Not mentioning they took about 5% for the transfer.
Just, WOW!
PS: I tried to call to the customer line sevice and it got picked up. I waited for TWO MINUTES in hopes someone would talk to me. Then I hung up and tried again. This time someone with terrible accent (no offense, but I understood about 60 %) talked to me and put me on hold for another two minutes. So, for these two calls when I listened to a dumb happy-like sound, I paid about 5 USD!
Why? Because the customer service is only available in English (so I have to do all the calls for my fam) so you have to call to another country (God knows where) if something similar happens to you - and you pay for that, a lot.
I mean, considering the problem did not get resolved.

I ordered merchandise from a online store in China and paid with my credit card. The merchant then used PayPal to process my credit card transaction. The online store was a ripoff and when I went to my credit card company to recover my funds and prevent payment, they indicated I had to work with PayPal since they processed the order with the merchant. On multiple occasions speaking to PayPal operators, they "promised" and "guaranteed" recovery of my money, yet they dismissed my claim. I attempted to have the case re-evaluated but the outcome was the same. I got ripped off by the merchant but PayPal protect the scammers.

PayPal withholding funds for no apparent reason Recently charged a customer $2000. 00 USD for services rendered using PayPal Here software and card swiping hardware. Upon logging in to PayPal business account to transfer money to connected business banking account discovered that all but $500.00 USD of the funds were being held for a period of 30 days. This protocol was never explained when I registered for a PayPal business account. Received an error message that indicated a limit had been set on this account. No explanation was offered as to why this limit was set. We are a licensed, bonded and insured business, registered LLC by the Secretary of State of Ohio to conduct business. We have been in business for 10+ years. We never would have used PayPal had we known there would be a 30 day hold on all funds in excess of $500. No legitimate business with accounts receivable and accounts payable could possibly conduct business on this timeline. We are now having to scramble to find a way to move funds to cover the costs we will incur because of this absurd policy that was never communicated. Additionally, of the $500.00 in funds that was permitted to be transferred to the business account, there was a 72 hour hold placed on the transfer. The 72 hour window has now elapsed and those funds have not been released either. This failure to release funds will cost carry repercussions for our business as we will undoubtedly be forced to cover fees and associated charges for transactions that will be returned for insufficient funds.

I've bought many things from Geekbuying, Banggood, and Gearbest, because they appeared cheap, although never again. The items are often poor quality, broken, wrong, or never arrived. I wasn't worried because every item I bought was through PayPal. Whereas, the sellers have been uncaring, and unwilling to do anything, Paypal refunded me on every occasion, with no fuss at all, and contributed £15 each time for the return postage, when needed. All the Chinese sellers didn't want to do anything for bad sales, although I found Banggood to be the worst of the lot, with ridiculous barriers like sending photos of both the postage label, the damaged item, and a video of the fault, even if it's not relevant, for example, how do you send a video of a non working light bulb? Anyway, because of Paypal, I can bypass their stupid demands, and get a easy refund. I've been using Paypal for over 6 years, and have never had a problem with them, and I've purchased about 400 items, the dearest being £1100. Unlike Banggood, I don't work for Paypal, all good comments for Banggood is done by their staff. My advise, only use Paypal when buying from Chinese sites, for protection the sellers won't give

My account has been locked because of an inquest my husband put into his bank. I called to figure out what I needed to do and this Padraig from Australia answered me. First of all it had kind of hard to understand what he was saying, he made me wait for so long on the phone. I got very frustrated and did curse, which I get wasnt great. But he was condescending, and absolutely horrible at trying to help me. He kept talking over me and mansplaining things to me like I was an idiot. He refused to give me actual guidance and was incredibly rude. This whole experience has tainted my respect for this company.