Highly NOT recommended - risk of losing funds
Hi,
I am currently confused on what are my options to solve a situation I am currently in besides going to court (this will be the last thing I do if nothing else will work).
I used Payfaci to process payments on my store. I successfully processed several thousand euro without any issues (and this is a legit, whitehat product, by the way), but suddenly Payfaci decided to stop working with me...
This would be fine, because those are their rights, however, the problem is that they are holding over 5000 euro from my rightfully earned money and are giving almost no responses regarding that at all.
This activity is illegal, because under applicable EU and national law, Payfaci does not have the right to withhold my funds indefinitely without justification or communication.
Under the EU Payment Services Directive (PSD2 – Directive (EU) 2015/2366) and its national implementations (including the Law on Payment Services and Electronic Money), payment and electronic money institutions are required to safeguard customer funds and make them available to the rightful owner. Funds received from legitimate transactions remain the legal property of the merchant and cannot be held permanently without lawful grounds, clear explanation, and proportional timelines.
By withholding over €5,000 of my legitimately earned funds without providing a valid legal basis or meaningful response, Payfaci is acting in breach of its regulatory obligations. The money belongs to me, and Payfaci has a duty to release it or clearly justify any temporary restriction under applicable law.
I highly recommend not using this company, because besides the huge fees you are also facing a possibility of losing your funds for no reason.
Reply from Payfaci
Hello,
We requested your account details to investigate and assist further, but unfortunately, no information was provided, which has prevented us from reviewing the matter.
We’ve also observed that you posted the same review for Airwallex, describing an identical experience and the same amount allegedly held. It’s unclear how the exact same issue could occur across two separate and unrelated companies.
We are genuinely keen to help resolve any legitimate concerns and remain open to assisting if you can provide the necessary details for us to look into this properly. However, we do not appreciate misleading or inaccurate reviews being published.
