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Just an update to this so we are established ebay sellers now with 100+ feedback and over 5k in sales but hey guess what Paypal still hold our funds.
Its now become a huge problem from last month when we defaulted on our business rent - we tried to transfer 2 days before our rent was due and we had the dreaded common 'transfer is being reviewed this can take up to 72 hours' message. And guess what it took 72 hours, our rent bounced in our bank and we were charged interest and had the phone call from the landlord questioning our future at the premises. We also were unable to buy food for two days as 100% of our income is now from our online shop. I was disgusted when i called Paypal customer services who lied to me and told me it was my own bank who held the money!!? After i sat there in tears because we could not even buy food, i explained this and also that i had a 5 week old baby and were were desperate to know why paypal were holding thousands of our hard earned wages. The staff do NOTHING about this problem nor can they access our accounts, its a complete joke and i have now had to resort to opening a case with the financial ombudsman. Its the worse , lowest and most unreliable system we have ever used we are now considering closing our online shop just because of how annoying it is trying to use paypal. Just now another transfer held, the worse bit is we get the held message AFTER transferring the money - no warning or option to cancel so the money just vanishes for a few days its as if the whole system was designed just to annoy the c@@p out of anyone who uses it. Oh well another evening giving Paypal the worse reviews i can think of across the internet..
Withdrawals are 2-72 hours in the U.K.
Funds are normally released earlier when tracking shows the item as delivered + 1 day.
I have had this problem for over six months now and all paypal tell me is its a good industry standard business model.. so good Paypal that our business never managed to take off because of these holds. The 'released when delivered' is total lies, the amount of times i have had to spend an hour at a time on the phone to paypal or ebay is beyond a joke now. The so called business model that also holds postage on 20 items so i have to spend £350 of my own wages to cover and hope that paypal release the funds in time to pay our business rent. The business model that refunds buyers who scammed us and filled in their own courier collection slip even though i pre warned paypal and ebay several times what was happening.. Its an awful system just designed to only profit paypal who dont give two ***** about its customers and will do anything to hold money in its accounts for interest. Our account has now been frozen for...guess what? sending money to someone who had an overdrawn account unknown to me, bye Paypal your an absolute joke, fully plastering this all over social media for the 50th time in the hope that more ppl see through your lies.
Having dealt with this issue myself and having spoken with reps from both eBay and PayPal, I can tell you that it is indeed in place to protect the company(s). Neither company cares about it's customers one bit outside of the fact that we provide revenue to them. PayPal states that it isn't a financial institution, rather a "security company" and therefore isn't bound by any federal regulations set forth to financial institutions in regards to funds on hold. I have been told by several PayPal representatives that the company can place a hold on funds, lock access to existing funds, and restrict account access for any reason it sees fit because it is "policy". During my conversations with representatives from eBay, I have been told that eBay has this policy in place to help make us successful sellers. They say this knowing full well that placing funds on hold actually prevents us from being successful by making it virtually impossible to process orders in a timely manner. We must accept this because there isn't another alternative. eBay does not allow any other company process payments other than PayPal (or itself when its new system goes live).
That being said, I may have found a work around. I have been able to process shipments using the funds on hold if I process the shipping label through PayPal rather than eBay. I need to have a slight balance (have done it with as little as $1) available in PayPal and it won't tough the balance, only the funds on hold. I'm not sure if this works for everybody, but it has worked for me. If I have a $0 balance in PayPal, it won't process the label.
Hope this helps.
I have money held in my paypal account and it wont let me process a postage label using those funds which means I now have to pay out of my own pocket for the postage because the funds are held! So the buyer has paid postage but I cant access that money until I have paid out of my own bank to post the goods! Surely they can allow you the postage money to post the item!!
Another fake paypal
Trading user money without their consent
100,000 users sold something for 50 pounds each of them 100,000x50 pounds money frozen for a few days
how much does paypal earn in %
My item sold on eBay 20th October ,the winning bidder received & left a very good feedback & I am still unpaid , I’m now concerned adding new items if I am out of pocket .