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!

[hdpcheer84]

Acutally, you said I did not have the intelligence to understand the concept. That was the first personal remark. And now it all makes sense! You want to be american too! Aww how cute. We are very blessed to be born in such a wonderful country. We have access to many wonderful things...such as excellent dental and orthodontic coverage! 😉 Paypal!! Your volunteer british troll is out of control again!!!!!!! Have a blessed day!

[hdpcheer84]

Oh...and I used troll as a verb. Not a noun. Online degree worked for meee!!! 🙂

[wjjones48]

PAYPAL YOU SICK GAVE BACK THE MONEY BUYER NEED

[Bespoke_Systems]

It appears as though Paypal are actually in breach of the law in the UK.

Having made a payment for an Ebay purchase, the item was delivered and found to be faulty.

The seller agreed an immediate refund and actioned that via paypal.

Paypal then removed the funds from his account.

Now however Paypal have placed a temporary hold on that refund with no explanation to either myself or the Seller!

This is clearly a breach of consumer credit agreements, Paypal does not own the funds in question, the money should have been refunded directly to my account instantly but it has not and worse still has no explained why it is doing it.

Any suggestions how to proceed with legal action for this anybody?

[hdpcheer84]

Unfortunately I can't be of help, but I agree 100% it is a breech in the agreement. I have told Paypal that and their responses were dishonest, insulting, and extremely unprofessional. I avoid using them whenever possible. Best of luck!!

[bigvern]

Exactly that what has just happened to me!

I bought something using my debit card to fund my purchase on 10th Sept,money was debited from my card according to my bank on 12th Sept. (as it normally takes a couple days to appear on a bank statement)

Unfortunatly the seller no longer has the item I ordered so today refunded the money back to me.On my Pay Pal page it's showing as the refund is completed with a positive balance but then the is a withdrawl showing as Pay Pal have put a 'temporary hold' on the funds & withdrew the money!

Thing is this is MY money,NOT Pay Pals!In this day of instant bank transfers,it seems they are trying to make a little coin back on interest by witholding refunds & it's funny how when you pay for services,the money is immidiatly available for the payee to withdraw...

Seller has assured me the is enough money to cover the refund,so whay have Pay Pal put a hold on it?

[Tehagent]

So according to all these PayPal reps and helpers my money will be released once it's left my account? So how come 5 days later it's still on hold? Item payed for, company decided that the free post their system worked out wasn't free post, refunded me the money, PayPal put the cash on hold, bank shows funds cleared, 5 days later still nothing returned to my PayPal account even though PayPal now have my money..... So come on then PayPal reps what's the deal with that, you keep saying it will be returned once the funds have cleared my account so where the **bleep** is it?

[kernowlass]

We are not reps, this is a user to user forum and apart from being ebay sellers experienced with paypal so helping out here we are no different to you.

However i will tell you why this has happened and just because the funds have left your account does not mean it has processed immediately to paypal as it goes by electronic and not wire transfer and goes via automated clearing. ............>>

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.

eg I paid a cheque into my own bank yesterday and was told it would take 5 working days to "clear", same principle with paypal, just cus its left your bank account does not mean it has cleared through to paypal.

[Tehagent]

gotta love these copy and paste responces, fact is it wasnt 5 to 7 days, it was longer than that.

Buy something.

Press pay now, paypal issues seller cash, requests funds from your account either the moment you press pay now and it confirms it, or by next working day, either way thats day 1. 

3 days later (payment still coming out of my bank to paypal) seller states for what ever reason that he has refunded the money, it shows in paypal but is instantly put on hold. again this is day 3, money is still in transit from buyer account to paypal, seller has transfered his cash back to paypal (this transfer back should have no effect on the buyer as this is paypals money not the buyers)

1 day later, funds now showing as being removed from bank account, by all accounts, paypal now have my money, plus in transit what ever the seller has refunded. yet my money is left on hold.

it took a further 7 days before the funds were back in my account in paypal, thats a total of 11 days, not 5 to 7.

And please dont be so patronising about how banking works. the fact the cash has cleared from my account, it takes a shop 3 days to refund my card back to my account. paypal = 11 days from start to finish. and thats dealing with sellers in the same country as me.

[kernowlass]

gotta love these copy and paste responces, fact is it wasnt 5 to 7 days, it was longer than that.

Your welcome, took me quite a while to write and save that so i did not have to type it out every time someone asked the question. I could make the same comment about the copy paste questions we get over and over again because folks can't read threads already with the answer on them previously posted.

You asked for the facts and i provided it, whether you believe it or not is really not my problem but yours. i don't really care one jot.

seller has transfered his cash back to paypal (this transfer back should have no effect on the buyer as this is paypals money not the buyers)

Incorrect paypal will CREDIT the seller for you in advance so you get your item more quickly BUT THEY DO NOT use those funds to refund you in advance.

 it took a further 7 days before the funds were back in my account in paypal, thats a total of 11 days, not 5 to 7.

Again you don't seem to have read or understood the words 5-7 BUSINESS DAYS.......working weeks have weekends so it may well be 11 days.

And please dont be so patronising about how banking works

I can only tell you how it works if you find it patronising when you asked the question in the first place then again your problem.

, it takes a shop 3 days to refund my card back to my account.

Again your understanding is limited, some refunds to credit cards take over a week. HOWEVER its a different process and paypal use electronic and not wire transfer for their  bank transfer transactions when you buy an item. And they often don't debit your account until UP TO 3 DAYS LATER PLUS THEN ADD ON THE TIME AS PER BELOW. 

http://www.ehow.com/info_8537474_difference-wire-t​ransfer-electronic-transfer.html

"Speed •

Because processing electronic fund transfers involves a third party in the automated clearing house -- which processes the transactions overnight -- the time it takes to complete this type of transfer is generally between one and four business days.

Since one bank completes a wire transfer by dealing with another bank directly, wire transfers occur faster than electronic fund transfers. Often, banks complete wire transfers in real time, making funds available to a receiver within minutes or hours of a person beginning the transaction."

PAYPAl USES ELECTRONIC TRANSFERS.  So they debit your account say 2-3 days after payment > funds leave your account > then goes via automated clearing = 1 - 4 BUSINESS DAYS (remember what business days are?) so that can easily be up to 11 days to clear.

If you can't understand all that "copy and paste reponse...LOL" then that again is your problem.