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Yes, I received a payment and the amount is showing at my account. The "On Hold" page displays with all the details. explaining that Paypal will take up to 7 days in this.
The transaction was completed OK the first day. And so the paying side, posted positive feedback acknowledging the item reception at the public forum of the community we are part of.
Nowadays, 8 days have passed since the funds were placed on hold, and there is no change in the status of the payment, except that Paypal own process is not functioning as it says it will.
I understand these times are special and so a delay could be expected. is that so? Should I wait more days? How long?
What should be the next steps from my side in case there are no answer and no change of the situation?
Thanks
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Ok MISTERY SOLVED!!
The answers above are correct.
The actual issue is that sometimes a buyer goes to check at his/her account about the money being sent and NO OPTION appears there.
No until the seller sends the confirmation from that side. ONLY THEN the option appears at the buyer side.
This procedure in counter-intuitive because usually the buyer receipts the good or service and this confirmation at the system level, allows the seller to actually receive the funds and hence confirm his reception of the money.
SO PAYPAL you better switch the confirmations order.
Unless, there are $$ interests to be gain because of the aggregated number of "on Hold" money that wouldn't be there if properly design confirmation would be in place...
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Searching the forum recent threads I have found two complementary different answers.
The thing is, Paypal site mentions 21 days when there are problems with the receiving account.
Plus the regular "on hold" specified lapse is 7 days, however Paypal is not respecting the later, when at the same time, there are not problems...
It seems a problem, that i wonder if has been recurring for long and how large it is, because there are obvious financial benefits for the holder of accumulated large quantities of money, there are interest to be had.
I assume there are disclosure obligations on this particular item that Paypal needs to comply with, or is it lost on accountancy blurs?
To the "solutions":
*First, this one:
With payments received for tangible goods Paypal would request valid tracking information confirming the item has been delivered to the buyer. As they can validate the tracking information online, once it is delivered they can release the funds. As you have received the funds for an item that was collected then no tracking number is applicable and Paypal would be unable to release these funds any sooner than the 21 days.
https://www.paypal.com/au/webapps/mpp/funds-availability
If you mark the transaction as processed then the buyer may have the option on their account to mark the transaction as delivery/satisfied. If the buyer confirms this by clicking on the "Confirm Receipt" button, the funds may be released to you sooner. This is not always guaranteed.
If not then sadly its 21 days.
*And Secondly, these instructions to follow:
Ask the buyer to confirm receipt on their end of the PayPal transaction:
Here's how to confirm you've received an item:
- Click Activity at the top of the page.
- Find and click the original payment for the item.
- Click Confirm receipt.
- Click Yes to confirm that you received the order.
Hope it helps
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Ok MISTERY SOLVED!!
The answers above are correct.
The actual issue is that sometimes a buyer goes to check at his/her account about the money being sent and NO OPTION appears there.
No until the seller sends the confirmation from that side. ONLY THEN the option appears at the buyer side.
This procedure in counter-intuitive because usually the buyer receipts the good or service and this confirmation at the system level, allows the seller to actually receive the funds and hence confirm his reception of the money.
SO PAYPAL you better switch the confirmations order.
Unless, there are $$ interests to be gain because of the aggregated number of "on Hold" money that wouldn't be there if properly design confirmation would be in place...
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