Did you hear about Paypal Shutting Down Accounts?
Watch my video and let me know what you think!
#paypalaccounts #paypalshutdown #paypalpayments #thehaitianmogul
Hey ya’ll! It’s Jay, The Haitian Mogul here. I’m here with another video. Actually, wanted to make this video so that way I can talk to you guys about something I’ve been seeing on Facebook and on social media. I guess a lot of people’s accounts have been getting shut down with Paypal. And, that sucks! It’s really a bad feeling.
I remember in the past I actually had to deal with something similar to this. And what was crazy about it is, at the time it was cause I was doing my magazine, as you guys know I had a magazine which I plan on revamping and all of this other stuff – But I was doing my magazine and I had a vendor that we had worked with at the time and the vendor was really good. She would bring a lot of people to the site, Adsense was blowing up every month, it was a lot of good things that was happening with the magazine & partnership that we had. The bad thing about it is because she wasn’t bringing out items fast enough or shipping them out fast enough people kept trying to get their money back with Paypal, thru Paypal really because that is what we were getting out payments from. This is about 2-3 years ago. So, with that a lot of people kept sending off their claims thru Paypal basically saying that they never received their items and they needed to receive their items by such and such time and it was taking a long time. Some of them actually were impatient, yes, but others had good reasons to because they waited like a month to receive them.
Now, I get the overload in the orders that we were getting because we did get a lot of orders in at one time but it was how she was doing it. Of course I would offer to help to try to minimize the weight off her shoulders and all that stuff. So it got to a point where it got so many, or Paypal had received so many claims that they ended up shutting down the account. They actually ended up saying that we couldn’t use them anymore for it and of course that affected my business, so I had to cut ties with her because it just wasn’t a good look. I mean, it was great as far as having the amount of visitors come to the site everyday but being a company that was pretty much returning almost $1,000 in products back or returning that type of money to Paypal was a lot! And of course it caused Paypal to shut the account down.
So what I have been hearing with what has been happening with everybody as of right now in 2019, and the year just started, is a lot of Internet Marketers are actually getting their accounts shut down. I guess Paypal frowns upon the type of business that it does, MLM, Internet Marketing, anything that pertains to that. Now, if you have a service, like for me I do graphics. So usually, for me for example, I specify when I work with my clients that they don’t get any refunds. I don’t really do refunds. If I’m working on a design for them they automatically sign off on that – there is no refunds. Now of course you’ll get people that try to come back and try to say that they want one or whatever but it’s very rare. Usually what I’ll do is I’ll work til they get what they want. I pretty much make sure that they are satisfied with what they paid for. That’s just how I do things.
So, I’m not sure exactly how you guys can go about doing it differently for that. But, of course it is a great idea to have a backup plan, a backup account for your Paypal account. So, if you don’t already have a bank account attached to your Paypal account so that way you can get your money transferred as soon as you get the payments, so you can have it saved somewhere else. Versus just on Paypal. If Paypal decides to shut down your account they will shut it down without letting you know. And you’ll try to login one day trying to figure out why, what’s going on, then you’ll call up there and you might get somebody on the line and you might not get somebody on the line. But if you do they’ll tell you the same thing. That they received too many claims and had to shut it down.
So, be careful when it comes to that. I know that it’s hard to actually deal with because it is money that you are losing. But as always, have a backup plan. Especially when it pertains to doing business, make sure you have a backup plan.
Let me know what you guys think. I’l actually going to leave a couple links in the bottom of this video. Me personally, I have a Chase account and I have a Simple account. Now both of them actually work wonders. I use Google Adsense money goes to my Simple account and my Chase account I use for whatever. So, you can actually have it connected to Paypal. Anytime you guys get a payment, just go head and transfer it. That’s if you are able to setup another Paypal account. With me, I was actually able to setup 3 or 4 different Paypal accounts. Only one I actually use on a regular. So, it’s up to you. See what works best for you but again, I get it.
Unfortunately, a lot of these companies they do pay thru Paypal so now they are going to have to find alternate routes. That’s it that I have for this video right now. Just let me know what you guys think and if you have experienced this let me know in the comments at the bottom. Subscribe to my channel if you haven’t done so already, give me a thumbs up and I’ll catch you guys on the next one. #salute
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