PayPal is planning to make some big changes to how it does things after users have complained about its "frozen funds" policy.
According to CNN Money, customers have been angry for years over the site's process in freezing funds when it suspects fraud. Though the site is looking out for the customer when it freezes the funds, it actually is also upsetting the customer at the same time, as they can freeze the funds for a long period of time even when fraud isn't occurring.
The eBay-owned site is attempting to make the system more "transparent," but they haven't shared exactly how they will do so.
Anuj Nayar, senior director of communications, said that 2013 will be the year they look at their frozen funds policy and try to make things work better for users.
Nayar admits the frozen funds policy "has a guilty until proven innocent bias to it," and he knows it is time for a change.
Users have shared frustrated stories about their funds being frozen unexpectedly, and the difficulty that ensues after trying to resolve the frozen funds. It usually freezes funds for 21 days when a fraud is expected, but it can also be extended to 180 days.
Getting them unfrozen is a difficult task that users have had enough of, particularly those users who rely on PayPal funds as one of their main sources of income.
While things remain the same for now, users can expect PayPal to be making changes in the near future.