Pending Withdrawal after meeting all Paypal's requirements!!

[Bodgeup]

So just made my first sale on eBay after a long hiatus and come across the new 21 day hold process so I had to pay for the delivery out of my own pocket so I would get good feedback.  But it still took 7 days for the funds to show in my balance and yesterday I withdrew some of the money, now ive got the dreaded pending status.  So what now I got to wait another 72 hrs to receive my money?  So why do paypal advertise this ultra modern & ultra fast service with faster payments withdrawals if they dont live up to this?  We should be able to give PayPal bad feedback!!

They did process my Ebay fees straight away though and took there percentage from the transaction, figures.

I understand the need for security but surely if they actually did some leg work they would see that my Transaction was a legitimate Ebay sale and the buyer has left positive feedback already.  So there is no worries about the payment coming back to bite them.

Come on PayPal surely you can do better, you have cornered the market with regards to eBay clients!  What else do you want, all our money too?

Its a shame there arent any other options as if you dont have a paypal account on eBay the odds are you wont get custom, so PayPal has us over a barrel!

Thanks

JK

[PayPal_Siobhán · Accepted solution]

Hi Bodgeup,

Has this withdrawal cleared to your bank? Generally when a withdrawal is 'Pending' it will show as 'Completed' after 72hrs, once your withdrawal has completed it should show up in your bank account within 2 hours!

Siobhán 

[Bodgeup]

Sorry I should have posted that the withdrawal finally went through bang on 72hrs, so much for being under review.  Its just an automated hold probably there to make sure there is no refund request from the transaction.  

I hope this isnt the norm?  I was under the impression that becuase PayPal now uses the Faster Payment scheme that withdrawals would be ultra quick, but so far not so good.

Anyway glad that wait is over.

Thanks for the replies.

Bodgeup

[keepertony44]

HI. Just wanted to add something which may, or may not help explain the issue you experienced.

I am a first time seller, and my withdrawal has been placed on a 24 hour hold. An advisor i spoke with gave me an example to explain what happens. Say 100 customers all make a withdrawal at the same time. The first "batch" (paypal term) of customers will see their money in their bank accounts instantly. The next batch in 2 hours, the next after a 24 hour hold, the next after 48 hours and the last in 72 hours. 

It seems that the process is segregated to ease the flow of processing huge numbers of requests made at the same time. I am not completely impressed but if the money does arrive in my account after the 24 hours expires then i will be relieved, and surprised as today is a Sunday!!! Paypal assures me it will be in my account today but i am a tad sceptical.

All the best.

[c-abe]

Keepertony44, I am new seller on ebay, my buyer received his package monday and my funds were released to paypal wed. At 6:26pm. I immediately did a funds transfer to my bank and now we're on thursday afternoon and still pending. I contacted a rep. And he assured me the transfer would be completed today (thursday) and i would receive my funds in my acct. Today; however, still pending. I made sure to ask him whether my acct. Had any pending review etc. That would up deposit and again he assured me that me acct and bank was verified with no hold restrictions. It would also be great it they would give us an accurate time to expect batch releases such as what ypu described below so we're all not waiting in limbo.

[dmp991]

I sent an item as soon as my customer paid using faster payment via paypal. i dispatched their item using tracked 24hr delivery. They confirmed to me that they recieved their item and were happy. i got positive feedback. Great right?

I then have to wait 21 days for funds to become 'available'. I use the term 'available' loosely because i know have to wait god knows how long while paypal 'reviews' my withdrawal request. This is my money that i am fully entitled to and i dont appreciate being treated like some sort of criminal or something! If I went to Tesco and bought an apple for instance, they wouldnt take my money and say i have to wait for my apple would they?! no! because its mine.

I notice most people who have this paypal withdrawal problem, are saying the got an email explaining how long it would be pending for. I havent had an email, so i have just been left in the dark as to how long i now have to wait...after already waiting. MY customer who bought my item on Ebay is a happy customer, I am a customer of PayPal and I am not happy, yet no one seems to care or be able to do anything about it.

I also don't understand what there is to review? someone sent ME (they're not giving PayPal money, they're giving it to me using PayPal) some money, by doing that they are authorising change of ownership of those funds from themselves to ME. That makes these funds MY money and therefore I have a legal right to that money.

You can quote the user agreement all you like PayPal, But I was never notified of a timescale for my pending funds to be released to my bank account, when I intiated the withdrawal I was not made aware it was pending, so that means as far as i can see your are witholding my property from me for an indefinite amount of time and without offering a specific reason or explanation. If an individual or a smaller company with a smaller legal team did that, they would be prosecuted for theft.

One last thing, I work in customer service for a very large 5-Star insurance company. Therefore, I am well aware that this above message constitutes an official complaint, so it should be dealt with properly and taken as such. If it is not resolved within 24 hours, then you are legally obliged to notify the FCA of my complaint. You should also treat the customer (me) with Utmost Good Faith, which in this case means you should be releasing my money to me instead of pending me indefinetly, lets face it PayPal, you're not 'reviewing' anything, you probably havent even looked at it, you're just keeping people's money for as long as you can!

I want my money, its not your money to hold on to!

[Bodgeup]

Have you checked your Spam Folder?  Thats where i found my email from paypal with how long the review would take.

Also I agree its not right PayPal holding the money for so long especially if you customers have paid and expect there items quickly, they could at least release the postage costs immediately and then just hold the main funds.

But We did sign the PayPal terms & conditions when we signed up to PayPal and its all listed in that so PayPal have the right to hold the money upto 180 days if they wanted to just as it states in the T & C's.  So if we want to use PayPal there isnt much we can do about these holds really, we can just hope they work out a way to relax them for users with a good reputation.

[kernowlass]

http://sellerupdate.ebay.co.uk/autumn2013/changes-payment-holds