Holding unauthorized funds
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Why does PayPal have the privledge of holding funds for a thirty day period, that gives them the earning ability of interest earned on our money and use the excuse of in case of a return from a client! Who uses speculation instead of reality to hold monies that is not theirs, I'm in a service oriented business and do not issue refunds, PayPal knows this and if they do not know the practices of all types of business then they have no business handling funds that are not theirs! I say quit letting PayPal quit earning interest on our money calling it a "threshold", did not apply for a credit threshold go make up some other term, maybe like we use " your funds" to our favor, my entire staff are prohibited to process PayPal business transactions immediately. After explaining to our clients the money PayPal is earning on the clients behalf they have also refused in the future to participate in any PayPal business transactions!
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You agreed to paypals terms when you opened your paypal account, if you don't like them then why not close your account again?
Advice is voluntary.
Kudos / Solution appreciated.
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Your Business May Not Offer Refunds But PayPal Is A Business That Offers Refunds & Holding Funds Is A Third Party Practive To Help Prevent Issues With Buyers As Most Cases Are Due To Buyer Complaints. Holding Funds Until Buyer Receives The Items And Is Satisfied Helps The Seller And Helps Prevent Negative Balance In Case A Buyer Is Not Satisfied. Please Refer To PayPals User Agreement & Terms That You Agreed To! Thank You!
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I am going through the same thing when a client "forgot" she ordered $400 dollars in photos and I have proof of purchase, receipt and email conversations I have submitted. I have called paypal numerous times. They even revered it, then took it our again the next week. It's been 2 months. I can sense a class action lawsuit in the near future. Won't be suprised and will be happy to get on board.
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