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Paypal illegally holding money

Contributor

Re: Paypal illegally holding money

There you go again! Have you ever heard about PPI fraud? Excessive bank charges fraud? Payday loan deception? These were immoral, but legal practices that were changed by law because people were rightly disgruntled by them. EBay and PayPal do not display information regarding this dodgy practice of holding money anywhere except deep down in their terms and conditions. If I had prior knowledge of this practice I would have definitely not taken up the service in the first place. For any one reading this article who is interested in taking up with eBay or PayPal, my ADVICE to you would be to think about if you are happy with this situation and if not, look somewhere else.
Esteemed Advisor

Re: Paypal illegally holding money

@ConstantG

 

Citing things that were 'immoral or later found to be illegal' does not mean that Paypals new seller hold policy (which has been ongoing for as long as paypal has been in being) is illegal. 

Why would it be? They state they will hold funds for new seller as its common industry practice.

 

If you don't like it then you don't have to use paypal as a payment processor, there are lots of other options.

However if you are talking about 'ebays hold' for new sellers then that is a completely different 'new seller hold' policy if you take the time to read the differences between the 2....oh yes another company doing a new seller hold....amazing.

 

Oh and card companies do it as well.

https://www.creditcards.com/credit-card-news/how-long-can-payment-processor-hold-funds-from-business...

 

There are 254 million paypal accounts worldwide and lets say just for the fun of it that only 100 million of them are selling then that is 100 million that have gone through the 'new seller hold' without moaning about it.


Advice is voluntarily given.
Kudos / Solution appreciated if I helped you.
Contributor

Re: Paypal illegally holding money

I'm not saying that the new seller hold is illegal, however I think it is unethical. I am merely pointing out that they do not make the customer aware that it exists in a fair way. As this practice has a direct affect on customers finances, it should be clear at the time of setting up an account but it is not. Just in the same way that pay day loan companies have to have their charges displayed prominently on their websites and phone companies have been ordered to simplify their tariffs and banks have been forced to offer all types of accounts to customers and not just the the ones that have a monthly cost. If people knew this was going to happen, some would change their minds about joining and using the service. I know I would!
Contributor

Re: Paypal illegally holding money

You'll become an established seller after: It's been more than 90 days since your first successful sale You've had more than 25 transactions $250 in sales
Contributor

Re: Paypal illegally holding money

THIS IS THE EXACT SAME THING WE'RE GOING THROUGH RIGHT NOW. PAY PAL IS ENTIRELY FULL OF **bleep**. THEY ALONG WITH E-BAY NEED TO BE ERADICATED FROM THE COMMERCE STREAM BECAUSE THEY ARE RUINING PEOPLE'S LIVES AND BUSINESSES. THEY ARE ILLEGALLY HOLDING MY CUSTOMER'S MONEY AND MINE UNDER THE GUISE OF PROTECTING CONSUMER RELATIONSHIPS. NO MATTER WHAT I DO THEY WILL NOT RELEASE THE FUNDS. E-BAY IS ALSO GETTING RID OF THEIR MERCHANT ACCOUNTS AS OF MARCH 1ST 2019 WHILE SIMULTANEOUSLY ONLY ALLOWING PAYMENTS THROUGH THE PAYPAL GATEWAY...HMMM... WHAT A COINCIDENCE. E-BAY PURCHASED PAY PAL AT 1.5 BILLION DOLLARS IN 2002 SO THEY KNOW WHAT'S GOING ON. THIS IS SICKENING TO THE CORE AND HEARTBREAKING THAT MY BUSINESS HAS GONE UNDER BECAUSE OF THE BAIT AND SWITCH FALSE NARRATIVE MANEUVER. THIS IS A VERY SERIOUS ORDEAL CHRIS SO IF THERE IS ANYONE OUT HERE WHO IS READING THIS POST AND YOU WANT TO GET TOGETHER TO MAKE PAYPAL AND EBAY PAY FOR WHAT THEY ARE DOING, I WANT YOU TO ENTER YOUR EMAIL ON THIS THREAD AND I WILL CONTACT YOU.

Contributor

Re: Paypal illegally holding money

This is a scam, nothing more.  I just lodged a complaint with the AFCA about my funds being held by PayPal, I suggest that everyone do the same. Things will only change if people speak up against this BS

Contributor

Re: Paypal illegally holding money

What is the AFCA? I will file a complaint against pay Pal immediately!?
Contributor

Re: Paypal illegally holding money

Australian financial complaints authorities. Formerly the financial ombudsman. Just search for them and then use the complaint form it’s all online only takes 5 minutes 

Contributor

Re: Paypal illegally holding money

Had the same thing happen to us 

 

Using paypal for 12 years, 100% feedback on ebay, over 10,000 sales, a handful of charge backs but only when refunded and paypal did not send the money to buyer they they went to bank and we just had a 20% of payments heard for 60 days 

 

there was no warning or phone call just one day went on and was on there 

 

spent next day trying to get someone to let us know what was happening and after 9 phone calls still now the wiser went to Onbudsment they sent a email for us got a phone call same day... 

 

turns out that we on this for a reason only paypal know and wont share have been threw the list of reason and we dont tick any of them boxes whenever we ask them to clarify why has happened they just fob us off if very unprofessional and unethical 

 

they said can remove the 20% for 60 days if give them 30K to hold, i personally feel like this is extortion and we are pursuing it further and have since removed paypal from our own website and dont take on amazon either and stop processing as many payments as can threw then and when ebay offers Adyen will be changing to them and completely removing paypal as a payment option due to this 

 

it is honestly just a money grabbing exercise nothing more we will never use them in any business's we involved in already remove several and will warn every other business deal with also 🙂 

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Contributor

Re: Paypal illegally holding money

I think PayPal is purposely giving me error messages that stops me from sending money to someone or transferring my money into my bank account under the names of "security". PayPal, Its nice that you guys are trying to make this safe but you guys are driving me crazy. If anyone had the same experience as me please help!!!!!