While Paypal has been a convenient way to avoid insane bank charges when transferring money, it also seems to have a track record of not coughing up the cash when it comes to fundraising…
Edit: in a nutshell, Paypal was not releasing the funds held to the developers.
UPDATE:
“PayPal Has Released Yatagarasu AoC Funds!
I’m relieved to announce that today we received an email from PayPal’s ‘Office of Executive Escalations’, advising us that they have released all reserve funds and removed all reserve settings from our account.
This comes as a HUGE relief for all involved in the development of Yatagarasu AoC, as the money raised by our contributors is vital to the game development and pursuing alternative arrangements at this timing would have been hugely problematic.
*THANK YOU* to everyone for the amazing outpouring of support on Twitter, NeoGAF, Shoryuken, and numerous gaming blogs! Your voices clearly played a part in motivating PayPal to resolve our problem and hopefully will help prevent other developers going through the same experience in future.
We are cracking on with preparing Yatagarasu AoC and the campaign perks for contributors, and will provide updates via the IndieGogo page and at Yatagarasu-FTG.com very soon!
Once again, THANK YOU!
Seon King
Founder, Nyu Media”