Monday, October 11, 2010

Penny auctions accounts frozen by PayPal

There are plenty of penny auctions appearing on the Web lately due to the global recession, especially here in the USA. They are gaining momentum as more people are losing their jobs and hoping to win some items really cheap. However, there is a speed bump to many PA sites when it comes to opening up a merchant account from PayPal. Seems that PayPal doesn't like the concept of penny auctions, so they try to make things more difficult in acquiring your merchant account. Some go to other payment gateways while some go through the process of getting PayPal. I'm not sure which is correct, but most PA sites are booming due to great success in troubled times.

4 comments:

Penny Auction Strategy said...

I keep hearing about all these online penny auctions sites out there. Stuff where you can get crazy good deals on stuff just on penny bids. My friend said he got a laptop for like 20 bucks is that true? If so what are some of the best penny auction sites out there?

Foopile Penny Auctions said...

Thanks for starting this blog. Anyone who wants to bid on a penny auction just have to do a lot of research on how your opponents play and more importantly, about the company that you will be investing your money on. Those who have mastered the skill of bidding and have developed their own strategy can really get the items at just a fraction of the actual cost. You need to have your own strategy before you bid. Jumping in unprepared will just result in losing more money. Most PAs have the Buy it now feature. So even if you don't win the auction, you can still buy the item using the cost of bids already placed on that item.

jack said...

Yes there are so many penny auction sites but Top Penny Auctions sites are very less.

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