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NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

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Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

This seems insane we have just started a small business and online we have managed to sell a fair amount of stock now through our new ebay account. HOWEVER having to front the postage, some to south korea!! while not being paid is becoming tiring and not only do ebay instruct paypal hold the funds for 21 days including postage we then find out paypal hold for a further day once the funds have been released. This does not help small companies and we  are now winding up our short lived ebay business, i can imagine thousands of others have also done the same its a really awful and not welcoming service for new companies.

Esteemed Advisor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

@AnnikasAttic 

 

The ''hold'' inself doesn't last long and you can understand why ebay and paypal do it.

If a buyer files a dispute and you refuse to refund then ebay or paypal have to refund under their buyer protection scheme.

So for new sellers until they have built up a selling reputation they hold the funds until tracking confirms receipt + 1 day.

After all you wouldn't want to 'front' funds without hope of getting your money back would you?


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Contributor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

Really?? so the fact that we have a registered bank account on file, business details have been passed and a genuine track record of 25+ items delivered we still have to suffer because of a paranoid built system that can easily charge back on the registered card if there ever was a problem . There is nothing about ebay that helps new sellers, we have also found that all items have been invisible from the public for one to two days meaning we have been mis sold 3 day . 5 day auction advertising promise we have paid for. Items on a 3 day auction are only being public for a day and a half before the auction ends meaning less bids, less income and then we still have to wait 21+ days for the money including postage.

Really bad designed system and no good for small business trying to expand im afraid, reviews going up.

Esteemed Advisor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

@AnnikasAttic 

 

They can't 'easily chargeback' if the payment was via bank transfer or a debit card or paid from funds in the senders paypal balance can they !!

As for the rest why not ask on Ebays forum, this is Paypals which is a completely separate company.

I don't sell on Ebay anymore so not as clued up on how their 'hold' works.

However if you don't like them then don't use them and go and sell elsewhere, its not compulsory you know.


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Contributor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

Sure they are separate but ebay and paypal are intertwined as we all know and we have to use one with the other, i am allowed to voice my opinion on these matters because there are many many many people complaining about this very issue. Its the 21st century, business needs to move faster than this, this whole system seems more designed to find any excuse to hold payments. We have items delivered and good feedback but hey still no funds available in paypal, then when they are Paypal add another hold as if we have not already been waiting a month for the funds, its pathetic. The founders of paypal and ebay need to listen to what people are saying then maybe they will grow a lot bigger and have less negative feedback constantly or maybe they are more concerned about making interest on all these held funds?

Member

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

I’ve just fallen foul of this very issue, sold a laptop to a non paying bidder, had to wait a week to relist it, then sold to someone who PayPal wouldn’t allow to pay more than £500 because because they didn’t have ever detail of his life on file and finally sorted that to find my funds are now on hold, strange how eBays fees aren’t on hold. It’s like something from the 1990’s, absolutely ridiculous. #jokers
Contributor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

I agree with others here. This is ridiculous. I’ve proven to be a good buyer and a good seller. Of the 10 items I’ve sold, 5 were positive reviews, One was negative, one hasn’t reached the customer yet and so no feedback yet, and the others weren’t reviewed at all, but the buyers chose to keep them. I’ve got 71 positive reviews in the last 12 months, 0 Neutral, 1 negative. I’m at a 98.5%. You can’t please everyone and I even refunded $10 to the one negative buyer and he still gave me a bad review. I’m waiting on hold for $57 and I shipped it within an hour of selling it with proof of Tracking numbers and that was two days ago. The payment is still on hold. This was a big bundle and I paid and shipped with USPS Priority Mail. That was $20 of my own money for the shipping and I paid PayPal their cut. After I get the money, I’m done with this business model. I was hoping to pay my EBay invoice soon and at this rate, I’ll have to spend more money to pay that rather than take the $10 out of my PayPal from this transaction. There’s also a highly sought Wii game that sells out fast on EBay and it’s annoying to see copy after copy being sold because of this hold. I understand that the buyer should be protected, yet I believe that the seller should also be given leeway here. The seller shouldn’t have to wait until the item is delivered to get the money, the money should be allowed in the seller’s wallet once the tracking numbers are attached to the item.
Esteemed Advisor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

@Soundwasteland 

 

If you have only sold 10 items and already have 1 negative than to be fair that is not good.

Also you may have 71 positive reviews but as most of them must have come from buying and not selling then it doesn't really count does it.

After all as a buyer you can't get given a neg or neutral review, you can only ever get a positive one or not have one left at all.


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Kudos / Solution appreciated if I helped you.
Contributor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

Excuse me ? My sales are worth nearly $200 combined. I got a negative one from one guy cause he was claiming that it didn’t work correctly and yet I had it and tested it extensively. Just a few months prior, I paid $60 for it. I sold it for $28 and he wanted a $10 refund. I gave him the refund as I heard that PayPal always sides with the buyer. I wasn’t happy at all making $18 on it, not including shipping I had to pay for. So I was like there it is and he left me a negative review for “rude” behavior. I fail to see how I should have to make sure I stay at 100% as that is fairly difficult. People are going to be people. So I’m sitting at nearly a 99% and that’s not good ? Especially when I shipped everything on the day of the sale or the next day and I’ve had majority of positive feedback. I don’t do this for a living, I sold retro stuff and that’s a niche market. This recent sale will be my final one, I’m not a business and I shouldn’t be expected to sell 100 stuff or whatever. 11 as a private seller is good when the majority of the feedback is good. I was going to get three games with my money and now I’ll have to get two, cause the highly sought Wii game cheap copies are all sold out cause I couldn’t buy it in time thanks to the hold.
Contributor

Re: NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

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..