Some Options to the ridiculous 21 day hold.

[cs32cj23]

I, like hundred's even thousands of others am past my limit with this ridiculous policy. I started a topic months ago "IM not going to ship items until the hold is released". Well since then horror stories have poured in, I get at least 20 responses a day on it, Papal acting like the SS Storm Troopers of the virtual void and freezing accounts as a result of speaking up, complaining about this policy. Well it appears paypal has no intention at all of changing this policy. Why should they? The greedy big-wigs sit back and collect millions in interest every single DAY on our money that they hold until a lazy or inconsiderate buyer decides to leave positive feedback. Or 21 days, whichever comes first. If you notice though, Papal takes their fees out right away.

I went with First Data Merchant Services to accept credit cards, They give you a free online shopping cart, a terminal to process credit cards, and a few other really cool perks. They charge 2.19% + .25 cents per transaction. It is sent directly to your account. THEN you send the item. Like the rest of the normal world. You want something, you pay for it, it gets sent to you. For f**ks sake, it is such BS. And I have had it. There is a class action lawsuit being filed against Paypal, they are violating the Electronic Funds Transfer Act. Since they aren't a bank, they don't have to follow any of the regulations that financial institutions have to follow if they are holding your money.

I truly hope that some day Papal comes to their senses, its not fair and not right. WE have the power in numbers as consumers, but we have to act and unite to bring them to their knees. They obviously are not concerned with customer satisfaction. I for one will not use Pay pal as soon as I can make the transition. Not for selling. Let me know what you think!

[Brian1955]

I just spoke with paypal today and they have instituted a new policy where they hold payments for up to 21 days for  all sellers who sell less that $20,000, yes 20k!, in every 3 month (90 day) period!  I couldn't believe this, I have sold for 12 years on ebay, have over 1600 positives, 100% positive, 4.9 or 4.8 on all seller ratings, and paypal told me today that payments to me will be held for up to 21 days!

I actually have a recording of my conversation with paypal, where the paypal rep (Kate) discusses the new policy, she clearly states the new 20k pending policy, and she says she read the new policy in a memo that came across their computers on Dec 30 09.  I said that the 20k criteria is not listed on their "pending payments" webpage or on their website anywhere, she had no answer to that....  

The paypal rep also claimed that they make zero interest off of the funds that they hold; I'm WAY skeptical about that....!

Ebay and paypal are no longer a "little guy" friendly community.  It's all about the big sellers and store fronts....  It's too bad.  

PASS THIS AROUND!!!!!!!!  

[PERFECTBUYZ]

WOW!  I have not heard that one. You is Paypal trying to get rid of al lthe little business like myself?

I been calling paypal almost everyday so they can release my funds. They rlease them,but as soon as I have a new payment. right back on hold.

Hopefully this will all work out

[stratman7000]

I agree with you Im also a small business and I sell mostly at ebay. I think I will look at other alternatives. I don't think even buyers like this. I also buy and I don't think this is fair at all.!

[mcvay1961]

I don't know about the rest of the world but as soon as the funds in my pp account are released I am transferring them to my bank account and that will be the last of it. We have been buying and selling on ebay and using pp for several years now and have had only one issue with something that we bought and that was resolved between us and the seller to everyone's satisfaction. Now we have to wait who knows how long to receive our money and yet we are told to ship ASAP and communicate with the  buyer!!??  And pp will release the funds when they know that the item has been received? HOW? How do they know? Are they linking with the US postal system? UPS? FED EX? And all the other ways that there are out there to ship an item? NO....they are holding the money until feed back is received...K, not convenient...what if a buyer does not leave feedback for whatever reason? We clearly state that we will not accept returns and to e mail with questions or requests for more pictures.....So if the buyer is told that they will not be refunded and that they need to ask questions first and all that is up front and out there where it can easily be seen and understood....then how can pp think that the buyer has any way to request funds be returned? When they have been clearly been told that NO that will NOT happen? So long ebay and so long paypal. We will not be doing any business with you anymore ever. We will find another way to buy and sell stuff.

[shwoodworks]

I've only been an Ebay/Paypal member for a month, and already I feel like I made a big mistake. This is just plain BAD BUSINESS. I am already looking for alternate ways to sell my products without either of these filthy companies. 

[stratman7000]

Personally I think that paypal only saw the side of the buyers on this one. I don't think they took in consideration the small businesses like us. I have a perfect score at ebay but I see that I will be affected by this big time.  I think that the wait for the clearance of the money the 21 days is way too much time . Fail on PayPal Fail on them for not Taking in consideration the sellers. Fail Major Fail.

How ever, I do think that the buyers should have some sort of protection but this is just too much. paypal and Ebay will lose a lot of good sellers because of this.  Again they should have taken in consideration small businesses and also check their ratings but this is just too much. Give me a Break.

And again Fail on Paypal. Major Fail

[ShellyAnn]

As a buyer who did not know about this 21 day hold crap..... I won't use paypal again.  I don't want to leave feedback on the item until I have it in my hand..... the SELLER doesn't want to ship until they have payment in their account.... PAYPAL has no right to hold my funds when I thought they were going to the **bleep** SELLER!

This obviously has nothing to do with Paypal trying to improve customer satisfaction.... I think they see it as a way to increase their revenue by holding onto cash and growing interest. 

My children 9 and 13 pooled their money $150.00 to purchase an item, that now will not be shipped for possibly 21 days???????????????????????????????????????????????  Hey PAYPAL why  don't YOU give my kids a call to explain this to them? 

[deanaradio]

I couldn't agree more. Amazing. They are doing exactly what I thought they were doing. I guessed it before I read all the feedback. What a brash move on paypal's part. Bold and greedy. What a shocker. I hope they get in big trouble for this.

[stratman7000]

SO I WAS SENDING AN EMAIL THROUGH EBAY WARNING OTHER SELLERS ABOUT THESE CHANGES AND GUESS WHAT...... EVILBAY (EBAY)  SENT ME AN EMAIL WARNING ME THAT IF I KEPT SENDING THOSE EMAILS I WAS GOING TO BE SANCTIONED.   I  THINK EBAY DOES NOT WANT BUYERS TO KNOW WHAT PAYPAL IS DOING.   SPREAD THE WORD PEOPLE. !    THATS   IT   I HAVE   HAD IT I AM SELLING MY STUFF SOMEWHERE ELSE...

[me-1]

how do I join the lawsuit