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They sued, alleging illegal misappropriation of customer accounts and detailed their customer service experiences, including freezing deposited funds for up to days until disputes were resolved by PayPal.
PayPal argued that the plaintiffs were required to arbitrate their disputes under the American Arbitration Association 's Commercial Arbitration Rules.
The court ruled against PayPal, stating that "the User Agreement and arbitration clause are substantively unconscionable under California law. The claimants accused PayPal of deliberately failing to notify its customers that ICC-Cal was illegally charging them for currency conversion fees.
A class-action lawsuit filed in was settled in , in which the plaintiffs contested PayPal's "holds" on funds. PayPal which has yet to be ratified.
As part of the settlement, the company agreed to change some of its policies. It alleged that PayPal had promised discounts and payment options the consumers never received, and that users trying to sign up for the regular, non-credit, PayPal accounts were signed up for credit accounts instead.
From Wikipedia, the free encyclopedia. Redirected from Paypal. This is the latest accepted revision , reviewed on 5 December Online financial services company.
Operating income. Net income. Further information: Timeline of PayPal. Main article: Security token. See also: Criticism of eBay.
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