Temporary Hold on Refund

[fruit_fling]

I paid for something through paypal (not on ebay) but then almost immediately cancelled as I found a problem with my order. I made and cancelled the order on 17/09, got my refund back on 20/09 but it a temporary hold has been placed on it. I understand that this has something to do with the payment actually being taken from my bank account. However, the payment has now cleared from my bank account, but my refund is still being held. Does anyone know how long it will take for my refund to be released? Thanks!

[lunk]

I was doing some late christmas shopping on ebay, dec 20 which I bought something that was refunded same day instantly by the seller since the product was out of stock. However, the puchase funds cleared my account on the dec 23, it is now christmas day dec 25 and i got no money back due to temporary hold on the funds. Now I can not buy the gifts, christmas is today, and i hope i can rush to the store to get them if i get the money back today. It has been 5 days since the refund, this is terrrible, my mistake for cancelling my other credit cards to make purchases. Would have been better to use credit card instead of bank account since i heard the refund would have also been instant if i used a credit card. Well just hope i get the money back today so i can wrap late christmas gifts. Paypal has lously customer service and seem to be playing with customers money. I hope there open today so i can call and resolve this problem.

[kernowlass]

This arises because your seller has refunded you before your initial payment to them has cleared from your bank to PayPal.

When you sent your payment, the money is not instantly transferred from your bank account to the recipient’s PayPal account. Instead paypal instantly credit the recipient's PayPal account on your behalf and simultaneously request the same amount from your bank account to reimburse themselves.

It takes 5-7 business days for the money to arrive from your bank to PayPal (same timeframe and method as an eCheque in fact). If your Instant Bank Transfer is refunded, this refund cannot be completed until paypal receive the money from your bank to cover the original payment paypal made.


A ‘Temporary Hold’ is ‘Placed’ on your refund while your bank processes your initial transfer request. When paypal receive the money from your bank, it will be credited to your PayPal balance.

[Kc7]

I am also waiting for a refund where I can clearly see that the money has been debited from my account twice. I suspect rather than moaning about it, the answer will be to consider alternatives in the future. Hopefully I will receive the refund at some point but I would suggest potential users note this issue and think carefully in how you pay for your purchases.

[infrasonic]

So many **bleep** off customers, paypal. A sensible retailer or service provider would take heed and address the issue rather than bleating the same stock response over and over. In my case, all that crap about funds clearing from bank accounts doesn't even apply, as I paid with a credit card attached to my paypal account, not with an instant bank transfer. There WAS no wait for funds to clear with paypal from my bank. Instead there was an instant transfer of monies from my card provider to the vendor via paypal. This transaction was refunded, and again, paypal's stock response does not apply. They state that they have to wait for either the funds to clear from the sellers paypal account back to paypal, or for an echeque from the seller to reach and clear with paypal. Now, this is bollocks of the purest sort (in general and specifically in this case), as paypal AT NO POINT advanced the purchase funds to the seller and as the forward credit transfer is instantaneous, the seller obviously has the funds available in their paypal account to cover the refund. Not that paypal are financially exposed at this point, because, as stated, they NEVER ADVANCED the funds to the seller in the first place. You see the reason for my ire, friends and neighbours. I won't go into the whole echeque thing as it a) doesn't apply in my case, b) is **bleep** anyway and c) my blood pressure can't stand it.

We, all of us on this thread, know it's all lies and **bleep** anyway, why get apoplectic pointing out the minutiae of how we're being ripped off, when the thing to be **bleep** at is that we're being ripped off in the first place. Electronic banking makes all their bleating utterly spurious. All clearing periods are simply financial tools to generate ever more profit at our expense. It would be naieve to expect paypal to do the right thing and sort this blatant, fraudulent practice out and apologise, so who fancies launching a class action against paypal? Any socially/ethically minded lawyers out there? Or maybe we should bring this matter to the attention of consumer watchdogs worldwide? Or those champions of the 99%, Anonymous? Any faceless ones monitoring keyword mentions? Hey, paypal. All we wanted was not to be lied to or ripped off. Why didn't you just say "In order to keeps our costs down and make paypal the best we can, we pool certain transactions - such as refunds - together and keep hold of them for 24 hours to make a little interest - waiting that extra day for your refund isn't such a hassle when it means you get the best, most secure, trustworthy payment service in the world in return, is it?". You had to treat us all like dumb sheeples, cash cows to be milked dry.

Release our money.

[hdpcheer84]

Finally someone who understands what is really happening!!! This has happened to me one time before and apparantly I forgot how blasting mad it makes me to see my money be HELD for 7 days when the original payment cleared 16 days ago!!! You cannot tell me they dont have their money yet. Ive asked the seller...they say the funds were released. And I have also asked my bank. They said they recieve numerous complaints about this very issue. The outsourced paypal rep is making a living with our money is paypal is unrightfully holding. Living the american dream paypal!!! Claim your services are free and end up costing the customer money and time by being shady and holding what is not rightfully yours. The last time I spoke to a supervisor about this he screamed at me, told me paypal isnt a bank and they can "hold the money as long as they want to." Three words. Class. Action. Lawsuit.

[kernowlass]

LOL

Still haven't quite got it have you.

If the payment has already CLEARED through to the seller and then he refunds then he can ONLY refund if he has funds in his paypal account balance (most withdraw those funds when a buyer has paid).

So if he then issues a refund then it has to go as an echeque and you have to wait for it to clear from the sellers bank account.

This is because it takes 5-7 days for the funds to go from your sellers bank account to paypal (via electronic and not wire transfer, the latter is much quicker). Then they credit you.

When you normally pay a seller it is equally not instant but in this case paypal CREDIT the seller in advance and they take the wait for  your funds to process through to them, but they don't refund in advance in the same way.

[hdpcheer84]

LOL was I talking to you?! And "volunteer advisor?" Get a life!!! Its shady...thats the point. And no amount of over worded, poorly written response is going to change my mind on that. No...I don't HAVE to use paypal, but a lot of small businesses use this as an "economical" option. But it doesn't change the principle of the matter. Paying the seller upfront rather than waiting for the monies to clear is paypals choice. NOT the buyers. Period.

[kernowlass]

LOL was I talking to you?!

No idea, as its a public board anyone can reply..........did you not realise that??

And "volunteer advisor?" Get a life!!! I

Got one ta, how many  folks have you saved from being scammed?? Oh thats right zero as you can't even work out how your own paypal account works.  

 Its shady...thats the point. And no amount of over worded, poorly written response is going to change my mind on that.

As i said, i can give you the facts but not the intelligence to understand them.

No...I don't HAVE to use paypal, but a lot of small businesses use this as an "economical" option.

One wonders why you are wingeing about waiting a few days for a refund then. 

Paying the seller upfront rather than waiting for the monies to clear is paypals choice. NOT the buyers. Period.

Well as a buyer its my choice as well, I think its great that I don't have to wait long for my items to be delivered.

I will leave you to your wingeing now then, have fun.

Byeeeeeeeeeeee

[hdpcheer84]

Wingeing is Not a word. ONLINE DEGREE PROGRAM. Look into it. You may be able to actually get a paying job and not have to volunteer for paypal and be their 'better than an outsourced rep because they are free' minion. Oh, and I wasn't interested in saving anyone. I am fortunate enough to have the ability to do that in my career. 🙂 And I wasn't posting an open discussion. I was posting a reply. Hence I WAS NOT SEEKING THE NOT SO EXPERT ADVICE FROM A VOLUNTEER CUSTOMER SERVICE REP. LMAO! So go troll on someone else's comment who has the time for such an ignorant, arrogant, look at me I can be mean on the Internet, human. Oh what a rarity! Another person who has time to volunteer because Obama pays for your groceries! 😉

[kernowlass]

I posted a reasonable post explaining how the refund and temp holds worked, you obviously did not like adult debate and immediately made it personal and nasty .....so think I know who the troll is !!

Or is it that you just don't like having FACTS pointed out that you don't understand???

Obama?? Not even in the same country you idiot. And no one has ever paid for my groceries ta.

And yes I have a professional job and work SHIFTS hence I can post on here at odd times saving folks from being scammed etc.

Most people are very nice and grateful............then there is you.

Waste of space shan't be reading anymore of your pathetic personal remarks.