Watch the video, or read the Blog Post below.
Welcome back! How are things on your end?
Just to give you an update, things are great on mine. With help from some of the very powerful tools and software that we have discussed so far, I am making sales at a fast pace, and we are expecting more and more site visitors to convert into buyers in the future. Of course, this means that eventually, we can start seeing a significant increase in revenue, and there will be a chance to scale even further and/or introduce other products.
However, just when things are getting even better and everybody in my team is starting to love waking up to find new customers and sales being processed, an issue arises: PayPal blocked my account, which means I am prevented from withdrawing a portion of my money!
How, then, will I be able to pay my suppliers? How about my team? All of them are surely looking forward to their compensation; if there is no payment, how can one be motivated to do their tasks?
Have you encountered this problem before? Or are you currently going through this endeavor? If so, then this blog is definitely for you. Stay tuned to find out what you can do when PayPal blocks your account.
Why Does PayPal Block Accounts?
First of all, a blocked PayPal account doesn’t necessarily mean you are hindered from making transactions altogether; you can still receive money through your account, although you cannot withdraw and transfer it into your bank account. So when that red dot over the Notifications shows up and you reach the “You Can’t Use PayPal Anymore” page, there’s not much reason for you to panic and overreact.
Essentially, PayPal blocks accounts that are linked to businesses that are making a lot of transactions over the past few weeks or months. The platform sees this as a big risk both to them and your account: what if there would be more and more failed transactions on your end over time? What if your customers want a refund and you are unable to process said request?
Think of the incident as PayPal’s security measure — you would need to have enough money in your account in order to fulfill your customers’ requests for refunds, and thus the prevention of withdrawals.
What Does PayPal Usually Do After?
After a request for the removal of limitations, PayPal will ask you for about 10 tracking numbers or transaction reference numbers, and they would wait for all of them to be marked as “Delivered”. Only then will they proceed to review your account for any risks.
What Should You Expect from PayPal?
PayPal will review your tracking codes and look at the following:
- How long it would take for a transaction to be completed;
- Refund and chargeback rates;
- Frequency of refund requests; etc.
Of course, PayPal would request more and more information regarding the nature of your business, customer reviews and more. Rest assured, though, that all of the information you will provide are in safe hands, and will only be used for the assessment of your account.
On my end, the problem is that my PayPal account is US-based — I had to fly over to the United States just to register my business to an American address and open up an account, even though I live in Australia. What I didn’t know is that PayPal is more concerned with their user’s actual address, and not the address of their business.
The only proposed solution was that I close the US account and open up an Australian account. But why, though, when PayPal is like a universal wallet wherein you can hold money in the form of various currencies? What’s even the point of that?
If you are familiar with WorldFirst, you know that they give some sort of virtual bank accounts, and you can transfer your PayPal funds into them. You would also know that WorldFirst gives better Forex rates, so you are winning more with them than with PayPal’s Forex rate. I highly recommend this platform if you want to get the best conversion rates for different currencies, especially when PayPal is limiting your foreign account!
What You Get With WorldFirst
As per WorldFirst’s website, more than 400,000 customers on a global scale have been using their website due to the following:
- Competitive FX Rates. Exchange rate up to 3x cheaper than the banks.
- Fast, Secure Transfers. MSO Authorised. We’ll get your money there quickly and securely – often within 1-2 working day for major currencies.
- 5-Star Customer Service. Make your transfers online 24/7 or over the phone. Our experts are available night and day.
- Currency Experts. $125 Billion transferred for our customers since we launched in 2004, more than 1 million transfers per year.
If you want to know more about their services, feel free to drop by their website — but if you want to know what they’ve done for me, you can always leave a comment below or send a direct message to me!
Let’s Wrap It Up!
Who would have thought that having a lot of customers can also become a dilemma amidst the success of your business? But fret not; when there is a will, there is a way. PayPal cannot hold your account forever; all you have to do is to find ways around it and you’ll be good to go in no time!
Before we end this post, I would like to invite you to my monthly membership group, The Pirate Club, where you can get everything you would need to build a successful online store. By joining in and becoming a pirate yourself, you gain access to the following:
- The Pirate Academy;
- The Pirate Product App;
- The Pirate Community; and loads more!
Intrigued? The Pirate Club is now open with an early-bird pricing plan, so be sure to grab this super affordable deal before it expires!
If you have any more questions regarding PayPal, WorldFirst or anything about this video, feel free to personally contact me via the Contact Form HERE. You can also leave your comments and feedback below, and our team over at WagePirate will definitely get back to you with a response. For more reviews, news and updates, don’t forget to subscribe to our YouTube channel!