Unbelievable Banking Practices!

[CrookedBankers]

I have been selling on eBay for over 12 years with all positive feedback.  I have always taken great care in my customer service and my feedback reflects that.  This week I had the worst experience with PayPal and if they weren't the only game in town so to speak, I would ditch them in a heartbeat.  I had a problem with two sales this week because of an error in the email address on the listing for where the payment was to be sent.  Apparently, I had deleted the 'y' in yahoo, so I didn't receive the payments.  After calls to PayPal and eBay, it was taken care of.  No big deal.  With the first sale, as soon as it had been corrected and the amount was in my PayPal account, I transferred the funds to my bank account. I then discovered after the second sale, that PayPal both monies for the two sales were on hold or 'pending'.  PayPal actually stopped the bank transfer of funds that I had initiated!!  I called customer service, explained the problem, was asked to hold for 1-2 minutes, which turned into over 10 minutes before my call was transferred to eBay who had no idea why, was transferred back to PayPal and after talking to a supervisor for almost 20 minutes, realized I was getting the run around, was offered every excuse for why they were holding the money....because the 90-day dollar amount of my sales fell below the minimum requirement.  I was told it could be held from 21 days up to 30 days 'to be sure there weren't any problems with any other sales' and was also told it might be released 3 days after my items had been sent out and received.  All this to protect anyone who purchased from me.  I expressed my utter disbelief that would do this and was so angry and frustrated when I got off the phone that my blood pressure shot sky high!  I just don't appreciate anyone messing with my money!  To make matters even worse, the next day, wouldn't you know it, I received a request from a previous sale to return an item.  There wasn't anything wrong with it, the description was not in error, it just wasn't what they had expected.  I accepted the return and recieved a message from eBay stating that the customer had until July 18th to return the item and to wait until it had been returned before refunding the money.  I then discover that PayPal has created a negative balance on my account in that amount and is asking me to transfer funds to cover it! I don't recall ever giving PayPal permission to conduct business on my behalf?? As of now, one of the pending sales items has been received and positive feedback posted from the buyer and STILL they are holding the money. I really have to conclude that PayPal is guilty of illegal banking practices and they may think that they have it covered by their fine print, but I'm sure a good attorney could argue otherwise.  I plan to take my complaint to every message board and social media I can find and will raise my voice against the awful practices of this dispicable company.  I was not surprised to read that they were fined $25 million dollars in 2015 for illegal banking practices. Apparently, they haven't changed their evil ways! 

[dskalski171]

Agreed! PayPal only helps themselves and offer NO help, security, or confidence. I will not recommend PayPal / EBay to anyone. Horrible.

[vjcush]

I Agree with you on Paypal Banking Practices! They "Need To Be Audited Everyday!!" 

From My Experience, with using them to send $900.00 to MY SON that lives in a different state than I do, Paypal has given me the run around; My Son & I together have spoke to 6 or 7 agents & 1 Supervisor & my bank account has been deducted of the money, & yet the Transaction STILL HAS NOT GONE THROUGH! Where is my money (that CLEARLY was DEDUCTED from my bank account)!!!

Each Agent "Promised that they Have Corrected the Problem", but.....still No Money "Physically" in My Son's hands!!

This issue started on July 7, 2016, today is July 12, 2016. And SILL NO MONEY!! And...IT'S NOT IN MY BANK ACCOUNT!!

I believe they make up excuses to "Hang On To A Large Amounts Of Money", if they do that with enough customers, the interest they make can add up if they sit on the money long enough.

Banks Aren't Even Allowed To Deduct the money & have money sit in "limbo" to collect the interest FOR AS LONG AS Paypal Does!!

"WHAT A SCAM!!!"  

I've been searching "How To Make A Complaint To CEO of Paypal, Dan Schulman"! I WILL Find A Way!!!