Why holding funds is necessary?

[momoneymoholds]

Just a question so give me an answer. Any lawyers out there?

[maxiepad]

Agreed with above!

PayPal isn't a credit card for most people. They're job is to provide a payment form for my customers and process them for a small fee. The fee has become ridiculous and now this BS. This has made no one safer and like most people now, I'm bailing out. I'm done. Once I get my money that they've unrightfully held, I'm closing my account on eBay and PayPal.

[nancyjo]

the reason I sell something on Ebay is because I need the cash... it doesnt do me any good if I dont have access to the cash that was paid for my item to even ship it !!!!  I have had my funds held now for 9 days ( $68.00 ). It is misuse of fiduciary trust on paypals part. and I am quite unhappy with the practice and will stop using Ebay as well as paypal for my transactions..

[Rickyboy]

Imagine my shock and disappointment when I learned my money was being held for 21 days. It's all about the money folks. PP gets their fee up front and we sellers have to wait. PP runs the show. These are the rules. We follow them or we go somewhere else. Where can you go, get a service like PP and get immediate payment today? I don't know of any other online payment services. All that said, such a policy should be applied solely to problematic accounts. The rest of us should not have to put up with this crap.

[drpet]

I agree with complainers.  I sent a camera to Russia. Buyer paid right away, then I get a surprise that MY money is being held for three weeks without being told beforehand and without my permission. Leaves me with a very bad taste. I don't do much with eBay but my record  is perfect'; I can see no reason for this.  I'm not bailing out but my dealings through PayPay will be as limited as posible.

[jesseert]

This is bull I have been a member for a really long time have 100% good feedback, and they are holding my money also WITHOUT letting me know, if they would have told me ahead of time I would never have accepted PayPay. I am also cancelling my account. I will NEVER do business with PayPal again after this. They done this without my knowledge, that's illegal!!!!

[Temp20221223AV]

Totally unacceptable practice.  I instructed PayPal personnel to cancel my last transaction - they claimed this could not be done.  I contacted the vendor and had them cancel it from their end and then simply paid them directly.  The transaction that PayPal said they couldn't cancel wasn't just the last one I did with them; it will be the final one.  From now on, whatever dealings I have with vendors both associated and unassociated with Paypal's sister company, ebay, will be conducted on a direct basis.  I removed my bank account info from my PP account, as well as any credit card info, and as soon as payment in question has cleared their system, I'll cancel the entire account (yes, even though the vendor has canceled the transaction, leaving me with no open transactions, the PP system will still not allow me to cancel the account).  I figure that not getting fees from  this one guy might not be all that much; multiplied by enough people and businesses however ...

[diamondbacks10]

i feel like most people i have items before my goods are what i say there are i cannot wait for money when i sell  a item the frist time i sold i shipped and had my money  i guess craigs list will start getting my busnniess when i get my funds

[ravendolls]

Hi! Just signing on with feelings of hurt and outrage on this topic also...

I just received my first "Transaction Review" and here's my story:
Sold a Mikimoto silver & pearl ring for $200 4-15-10, evening.
Sent it by insured Priority mail with tracking, the next day, 4-16-10.
Item updated as delivered 4-16-10.

On 4-21 I receive the vaguely worded "Transaction under review" email from paypal.  My stomach sinks in fear and horror and I immediately look up all the transaction details.  Buyer Account? Confirmed. Tracking number uploaded to paypal and ebay? check. Checked USPS Delivery status: Delivered.  I email buyer and ask if there's a problem I can help her with! 

That's the worst thing... that this email from paypal made it sound like it was the BUYER or her bank who initiated this, so now I've gone and messed with a buyer for no reason at all!

After checking everything I can, I finally call Paypal and a helpful and reassuring agent assures me (not in these words however) that it's just one of their "random hold your funds for 21 days for no real reason"  scams.

>_<  THEN he says it's because there's some issue with buyer or seller lack of history.
Nope... seller been on ebay since 1999, with paypal since 2001.  Buyer been with ebay for 6 1/2 years or so, 400 items. Confirmed and verified accounts on both ends.  There are no issues here!

He made some kind of hysterical (I swear his voice got emotional!) claim that Paypal just had to make sure fraud wasn't being committed, that someone would sell a bunch of items in one go and then disappear without having shipped them. Hello??  Anyone giving my record and my store the most casual of glances can see I've been around forever with the same ID, am a committed ebayer/paypal-er and am not going anywhere, ever!!   The only thing new about my ebay/paypal life is my ebay store, but sheesh, I was only following what ebay suggested I do (ie you sell a lot, why don't you open a store?).  Why punish me for that?

I recently had a buyer make an untrue SNAD claim, which I stupidly chose to contest, believing foolishly that just because I sell things I deserve to be treated fairly. Oops! My mistake, sorry!  Luckily the $300 emerald earrings were returned to me in the condition I'd sent them out in (still in perfect working order though it was claimed they were not), so I did the right thing and acknowledged receipt of item, thereby believing I was resolving the transaction maturely and proactively.  Case closed right?  Well on the phone the automated agent recording-thingie said "she" was "having trouble accessing the outcome information" (or something like that) of that SNAD claim. In my paypal account it says the claim was "removed" 2-21-10. Hello again?

So people. If your customer wants to return something, DO IT. Just **bleep** it up and let them return it, and hope it isn't damaged or substituted, because I think maybe having had this bogus SNAD alerted the computer. they got me in their "temporary hold" radar and that's the end of it, no matter how fair or unfair it is, you are a seller, you DESERVE to be taken advantage of, because you SELL THINGS (oh the amorality of it all).  You deserve to be hit on all sides, from vindictive buyers AND avaricious bank-like institutions. KNOW YOUR PLACE in the scheme of things.

A friend of mine had this same problem.  The agents she talked to claimed it was because she'd listed more items than normal last December.  Why should a seller be punished for that?  I mean, if you had low feedback, unverified or unconfirmed accounts or were moving, and/or changing ID's often, or something like that, yeah, certainly!  But it's a really poopy tactic, and poopier still to tell the seller it's something the BUYER has initiated! 

Just tell the truth paypal, that you are doing a random 21 day hold to get more interest on random amounts of money (incidentally they didn't keep $208 for the item mentioned as being under review, they are holding all of a $350 transfer I was doing to my bank account so I can pay my bills at the end of this month).  You can make money, Paypal, but at least be honest and upfront about it?

Raven

[pebbles]

Ok,it's getting little confusing for me now as it appears certain or some transactions are or can be INSTANT PAYMENTS that the PayPal's 21-day hold policy don't apply.

Here is my story,I sold and shipped ( with track# ) 2 successful bids ( 1- $26.50 / 1 - $25.00 )  yesterday afternoon and both are marked as pending payments in my PayPal account not available for immediate withdrawal for up to 21 days.

I just found out this morning that an " instant payment " which is less than $4.00 for another successful bid has been credited to my PayPal account not in the 21-day hold pending payment status.

I am a newbie,bought and sold less than 10 transactions since early this year.

I need honest reliable opinions please.

[pebbles]

Or could it be paid by a debit card account via PayPal from the buyer.

I didn't specifically noted " PayPal payment ONLY " in the listing as the other 2 although I have PayPal as preferred payment method.