PAYPAL - eBay - Betamax GmbH & Co.KG Despite numerous fraud complaints about Betamax GmbH & Co.KG taking unautorized monies out of PayPal customer's accounts, PayPal/eBay has not warned customers, nor taken steps to protect its customers form these attacks on their bank account access in PayPal's care. San Jose California *EDitor's Suggestions on how to get your money back into your bank account!
The PayPal transaction of debiting my account for Euros then converting them to U.S. dollars and giving my dollars to Betamax GmbH & Co.KG was completely unauthorized by me. I am appalled that someone got unauthorized access to funds in my bank account through PayPal!
It is unacceptable for PayPal to issue a refund and yet, withhold funds in my bank account for 3-4 days before I can use my own funds. I think PayPal is participating in the ripoff because these are theives they have long history with. Yet, they never warn or protect their unsuspecting customers who have entrusted their bank access information.
Since I NEVER made the purchase from the perpetrator, I will not tolerate enabling PAYPAL to take a 3-4 day loan on cash from my checking account without my express permission, thereby overdrafting my checking account and bouncing checks. If my money is not IMMEDIATELY returned to my bank account, I will contact CNN, my legal counse l, the Federal Trade Commission, The U.S. Senate Banking Committee, my U.S. Senators Durbin and Obama, and the U.S. Attorney Generals Office to hold Paypal accountable for its security 'breaches' and failure to immediately make customers whole as a result of its failure.
I called Paypals Business Services number and tape recorded all conversations as I was transferred from an agent in the Philippines, to a supervisor in the Midwest, to another supervisor, to someone in a sales office, and back to the Business Services line again. I received no satisfaction; just the proverbial run around. I was told, by each, that none knew the name of PayPals Chief Executive Officer. One wonders how much money PayPal is making in un-earned interest on '3-4 day floats' taken on bank funds of its many customers, which they illegally and opportunistically hold in this sham.
My intent is to take full action against PayPal to the fullest extent of the law, and the media, in this matter so as to cause a correction in this unacceptable behavior and to warn others about Betamax GmbH & Co.KG fraud; like Paypal should have. I will take this action on principles of negligence, and failure to cure its liability for tortuous interference in my economic advantage in spite of its advance knowledge of rampant specific and fraud. This has happened to the detriment of an unsuspecting PayPal customer who was promised 'expert' account security, and even charged me extra money to purchase an additional security key from them for the account. PayPal will ignore this notice past 3:00 PM on Wednesday, January 16, 2008 at its own peril. Put my money back NOW or face the music and tell it to the Judge!
Disappointed eBay/PayPal Customer,
Michelle
Chicago, Illinois
U.S.A.
1 Updates & Rebuttals
Phillip
Boone,North Carolina,
U.S.A.
Complain to the banking license authority in your state
#2Consumer Suggestion
Wed, January 16, 2008
Complain to the department who issued PayPal their money transmitter's license. On the pay pal website, scroll to the bottom of the page and click in the about us' link and then again on the state licenses' link on the left in the box. This will list several states who issued Pay Pal a license to transfer money electronically. Most permits are in a downloadable PDF that identifies the name and address of the appropriate agency to contact.
PayPal will want to settle your dispute as a result of jeopardizing their privilege to retain their ACH (automated cash handling) permit to remain in business as a money processor. Any inquires from a state or federal agency will help you attain the fair treatment you deserve and ensure that Pay-Pal is compliant with the UCC regulations.