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I am getting very confused with this new system from Paypal in which my payment is held for 14 days before Paypal releasing it. Is there any way I can opt out?
HERES SOME INFO FOR YOU:
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. BUT paypal seem to be not using this option as proof of delivery anymore.
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.
Its for buyer protection > if a seller refuses to refund a buyer for an item not received and paypal can't access funds in the sellers account then they refund the buyer themselves.
So to protect themselves and still be able to offer buyer protection they hang on to the funds of new sellers until they have a record of good performance.
I have recently sold 4 items on Ebay and received payment instantly on three of them. The 4th said I have received an instant payment in my email so I check my Paypal balance and this is delayed for 21 days for some half cocked reason..
I have had no reason for payments being delayed and there is just no way of sending anything without the funds are in my bank and not Paypal's.
The only choice as agreed by the buyer is to refund and fund it in a better way
After you make a Pay After Delivery payment, PAD automatically becomes the default way for you to pay for purchases, wherever PAD is offered.
To change the default way you pay for purchases:
1.Log into your PayPal account at www.paypal.co.uk
2.Click 'Profile' near the top of the page
3.Click ‘My money’.
4.Click ‘Update’ beside ‘bank accounts.’
5.Under 'Paying after delivery is my preferred way to pay', click 'Turn this option off'.
Otherwise, you can decide not to use PAD during the checkout flow. Click 'Change' on the Review Your Information page during checkout and select a different payment method.
I have been using Paypal for about 20 years, I have eBay feedback of over 400, 100% positive. Now they are withholding payment of £255. They are not answering the phone and I have sent a dozen emails, I am now considering going to the police to report this fraud.
I just did a search on GOOGLE and this post came up on page one, so I just thought I would add to it. Until recently PAYPAL has been so efficient, sometimes if I do a transfer request, first thing (in the morning) the money is in our account the following day. On average its 2 days though. In my opinion it should be like this as banking improves around the world, even here in NZ, we can recieve payments from customers upto 4 or 5 times a day. I last withdrew $1000 on Monday last week, and a week later and the money is still not in our account. I have emailed PAYPAL and I am waiting for a reply. I really dont want to change this, but we cant wait 7 days or more for our $, thats just not right. I hope this is a one-off.
I think since the worldwide ''glitch'' on payments not showing up a couple of days ago it may have caused a knock on effect with withdrawals as quite a few have stated they have had delays.