Holding My Money For 21 Days?

[Lc715]

Really? I've been on eBay for a few years, have 154 positive feedback, no negatives, not one problem or dispute and have sold a few things before including 2 iPhones. So why is it now that I've sold another iPhone PayPal is holding my money for 21 days? I ship immediately,free shipping always,so the guy bought it on Tuesday,I shipped it on Wednesday, he got it on Friday, yet PayPal is still holding my money. They were quick to take out their fees though. Thus seems illegal and untrustworthy to me. They are holding me hostage. There is not one reason why PayPal should hold money from me. I have an excellent feedback record. Insure there is a lawsuit brewing somewhere about this unethical tactic.

[kernowlass]

Well as a buyer you can't get neg feedback anyway as sellers can only give pos or nothing to buyers.

So if you have only sold  "a few things" then feedback doesn't really count.

You need about 100 selling transactions for the holds to stop.

EVERY seller on ebay goes through or has gone through this, its for buyer protection.

If a seller does not refund a buyer then  paypal has to under buyer protection so to reduce the risk to them they hold new sellers payments until that seller has a good selling record.

Its rare you have to wait 21 days if you follw the info below.

Why your payments are held.

• You have been selling on eBay for less than 90 days
• You have an eBay feedback score fewer than 100 as a seller and have not yet established a record of good performance
• You have received fewer than 20 Detatiled Seller Ratings on eBay in the last 12 months or your eBay seller performance is below standard
• You have a high rate of customer disputes or a low eBay feedback percentage
• You have been a PayPal member for less than 6 months and have limited selling activity
• You have a sudden change in selling activities (e.g. suddenly selling expensive items, selling large numbers of items, etc.)
• You happen to be selling in a high risk category such as tickets, travel, gift vouchers, computers, electronics, mobile phones, etc.
Depending on the circumstances, paypal may set aside payments for a single transaction or for all payments to sellers who meet the criteria above.


How can I get the payments released before 21 days.

1. If your buyer leaves feedback (pos) then funds are normally released within 48 hours of that feedback being left.
2. If you decide to send an item trackable then you can add the tracking number to the details of the paypal transaction and funds are then released when the item shows as delivered + 3 days.

What if I have met the criteria for release and the funds are still held.

The release of payments is not automatic before 21 days, so you need to email or phone paypal via "contact us" bottom of paypal pages with the transaction i.d's of the payments involved. State how you met the criteria for release of funds before 21 days eg feedback or a tracking number.

[john83]

paypal is a joke they hold people's money and hold people to ransom, i sold an iphone 3 weeks ago the release date was supposed to be today (21 days) and they STILL havn't released my funds im **bleep** off to say the least and i wouldn't recommend paypal to anybody else

[kernowlass]

They HOLD the funds for 21 days, its not released on 21 days as it is still HELD. ...it should be released on day 22.

If it was released on day 21 it would be a 20 day hold.

Also paypal is not compulsory, you can close your account anytime you want to BUT its unlikely you will sell anything as buyers want the protection of paypals buyer protection programme.

So without paypal its doubtful you would have sold your item in the first place, so waiting a while for it to be released should not be too much of a hardship, millions of other sellers have gone through it without complaining.

[john83]

Who are you to say what should and what should not be a hardship? You don't know my financial situation

[kernowlass]

I did not mean financial hardship in that way.

I meant that surely its better to wait the 21 days using paypal than not use it and not sell the item in the first place. ie not such a hardship as not selling at all.