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Comment · Sat, November 21, 2020 · ND Owner

Will there ever be a PayPal option to pay?

What they were answering

Direct reply to the original post in this thread.

u/MisterYouAreSoDumb · ND Owner

Unfortunately no. We were banned by Paypal years ago, along with any business associated with me, my personal account, my strategic director's personal account, and my director of finance's personal account. We used to have Paypal on the site. They were okay to work with. However, once we started getting volume they started to show their true colors. They freaked out at nootropics in general, and decided to ban our account and freeze $50,000 that was in there. Back then that was a LOT of money to us. If we could not access those funds for 180 days like they wanted, we may have gone out of business. No joke, it was a serious situation. I was naive, and didn't have the distrust that I currently have for the financial industry. So I was an idiot, and kept too much in there out of convenience. BAD IDEA. Any money you have in a Paypal account is not really your money. They can do whatever they want with it, and tell you to get fucked. Just read their TOS sometimes. After you read that, you won't ever keep a Paypal balance again!

Anyway, I made a bunch of calls, and got someone higher up at Paypal on the phone. I schmoozed him, and convinced him to release our $50,000 if I removed Paypal from the site. This was literally our only option, as option B was me declaring bankruptcy and closing the company, so that is what I did. We removed Paypal from the site, they released our money, and I lived to fight another day. Then we only used Paypal for offline payments, like if a customer forgot to add something to the order. We would have them Paypal us the difference to add it. Well one day a stupid customer went against our instruction, and wrote exactly what the payment was for in the payment comments, and our name in there. Paypal saw that, freaked out, then banned us for life, along we me, my strategic director, and my finance director. So now none of us can use Paypal anymore. LOL

Paypal is a horrible company. They are anti-competitive and anti-business. They are convenient for consumers, up until you run up against one of their obscure terms. Then all hell breaks loose, and they just ban and freeze accounts as a first step. If you have not read into our issues with payment processing, I would invite you to read through some of my past comments here on Reddit about it. We have almost gone out of business multiple times because banks and payment processors have banned us and froze our accounts without warning. I have sat in more bank lobbies than you can even imagine. I am personally banned from multiple banks. Some of that was because they freaked out over nootropics. Some of that was because we accepted cryptocurrency, and they banned me because of that. Calling it a nightmare would be an understatement. I almost had a nervous breakdown during that time. I would wake up every morning fearing that I was about to get a call from our bank telling me we had been dropped again. It really had a deleterious effect on my health, and I NEVER want to get into a situation like that again. I simply can't handle it. It's taken us years to build up our relationship with our current banking partners, and they know absolutely everything we do. We speak to our banking partners pretty much every week. They know our entire business. They approve all our products, and we have long approvals on new product we add. They know the insides and out of what we do, and are completely onboard with it legally. I don't have to wake up every morning fearing that our site was broken because we got dropped by our card processor or bank anymore. Customers don't have to try and use Echeck or cryptocurrency at the end of the month anymore because we hit our processing limit. Things just work now, and you would think that would be easy, but anyone that has been in this industry can tell you it's a nightmare. The banking and card processing industries can make or break businesses, and many are destroyed every day by them. To say we are protective of our processing and banking relationships would be an understatement. Anything that might jeopardize those relationships is 100% off the table. If we can't accept credit/debit cards, we die. It's as simple as that. Plus, all the card processors and banks are linked together in the background using central systems. My personal social security number is associated with all our accounts. If we get dropped, I can be TMF/MATCH listed, and then no business I am associated with will ever get processing again. It's insane. It's a death sentence, and it is all controlled by private banking companies.

So that is a little insight into what goes on in the background of the card processing and banking side of things. It seems easy to all of you when you checkout, but it is a massive amount of work and risk on our end to make happen. I would have any and all payment processors that we could, Paypal included. The reality is that they will not allow nootropics. If you are small you can fly under the radar. Once you grow a bit, you get flagged and then you are on their radar. That's generally the end of it, unless you go through hell to find a bank willing to partner with you.

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