Holds on payments. Show me the money!

kevinmilam
New Community Member

So, eBay and PayPal decide to place a "hold" on my money when I've sold a quality piece of merchandise to some joker who must grant me the blessing of positive feedback before PayPal will release my money 24 hours later.  Aside from the fact that that is absolute B.S.  tell me this - During the week or so that PayPal has my money on "hold", along with thousands of other sellers, where is that money exactly, and what is it doing?  Does anyone honestly believe it's just hanging out in an interest-free limbo on the internet? 

 

Please!  If that money isn't pooled on a daily basis into some form of billion dollar interest-bearing **bleep**-job for the benefit PayPal I'll return every dime I've ever profited selling my stuff on eBay.  They aren't holding our money to protect buyers or sellers - they're holding our money to earn more money for themselves.  What a colossal con.

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3 REPLIES 3

NEWHANDLE
Contributor
Contributor

I AGREE, THEY ARE LOOKING FOR MORE THEY DON'T HAVE ENOUGH MONEY YET. IF ONLY EVERYONE COULD MEET ON AN INTERNET SITE AND FIGURE OUT A NEW WAY....

MY DREAM...

MANY, MANY,MANY PEOPLE, BUYERS  AND SELLERS ARE NOT HAPPY,  I NEVER RECOMMEND EBAY ANYMORE. OR PAYPAL!

PONZIOPOLY ANYONE?

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lugutoo
New Community Member

I totally agree with you.  I haven't sold on Ebay in a long time and now the item I sell, the money is being held on it!!!  I'm not familiar at all with this.  So, this isn't the customer holding out, it's PayPal?!?!?!  Makes NO sense!!!  Most people dont even leave feedback anyway!

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sandypurins
Advisor
Advisor

PayPal will release the payment after 21 days, or... 24 hours after the buyer leaves positive feedback or 3 days after PayPal can confirm delivery of the item.

The policy is called the eBay Item Hold policy... it was announced in January, 2008 and implemented in April, 2008. Go here...

https://www.paypal.com/cgi-bin/webscr?cmd=xpt/Marketing/securitycenter/sell/SaferPayments-outside

and here...

http://pages.ebay.com/sell/update08/rewardsfaq/index.html#27

to read more about the policy.

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