Payment holds - HOW am I supposed to keep my business running?!?!

[audiodeity]

I can't believe this new policy. It's ridiculous. Holding EVERYTHING I GET for up to 21 days?

I quit my normal job 5 months ago to start selling on eBay full time. How am I supposed to buy more inventory to sell. How am I supposed to pay for Fedex ground shipments, packing materials, gas, etc. Not to mention food. If theyare going to be keeping all the money that I'm supposed to get.

They've already got $200 in hold from this morning. Now im supposed to pay to ship these and everything else I sell and wait and hope to get paid?! Im going to run out of money. Im going to go out of business??!

Does anyone know if there is anyway around this?

[BadPolicy]

I'm going to post this information on a separate topic, but thought I'd write it here too.  How about we all write the President of PayPal (Mr. Scott Thompson) a letter and either mail or fax it to him?  Or better yet call their offices and just swamp his office with these complaints?  Here's his information:

Scott Thompson,

President

2211 N. First Street

San Jose, CA 95131

Tel:  408-967-1000

Fax:  408-376-7514

Nothing is going to change unless we all stop whining and complaining on this board and actually try to do something.  And that means letting this guy know just how ridiculous this new policy of theirs is and just how much it's hurting so many small businesses.  Mine included.

[mdauctionsltd]

Paypal does not give a rats a** about how we are supposed to keep our business running! They are making a killing off of the interest they are earning for 21 days on OUR MONEY!!! Isn't there an atorney out there somewhere that wants to take on a no-brainer case??? What Paypal is doing is not legal, I know that much, and I don't have a law degree. It violates consumer protection acts, as well as interstate commerce laws. But unless someone does something serious, they are not going to change. I have contacted CNN, and advised them of what is happening, and that a Facebook page has even been created against this policy. I know there are much bigger problems out there, but with the economy the way it is, they just may pick up on a story like this. Let's hope so.....

[pikachoo]

You are so right! This policy is not the only one policy causing havoc. At least once a month I get a message from paypal stating my bank account needs to be verified. And I was already a verified premier member. My account status changes and they immediately block my account and any access to it until I verify my status & bank account AGAIN. In so doing they remove my current bank account without my permission and tell me it is no longer valid, and that I now have to run downtown and open up a new bank account with a totally different account number etc. They will not allow me to enter my information from my already verified bank account. And they remove my credit cards associated with this account and make me do the same thing with them. This happened to me at least 3 times in the last 90 days to which I sent paypal a piece of my mind. Point blank they basically laughed in my face and spouted nonsense about policies etc which I was in total compliance with every stinking one of their policies! I was forced to open a new bank account & apply for & get a new credit card just to gain access to my account. Which i speedily accomplished within a few days and then of all things paypal attempted to dredge up an old non-receipt claim on my account that was months old, closed in my favor etc  to use as an excuse to block my access. It took many frustrating phone calls to get this removed. Oh...they were so sorry...they didn't know why the system listed this closed claim as open case etc. That is bull crap! I have a friend (ex-paypal employee) who will tell you there is no automated system generator. There is a human generator who with the click of a button adds or deletes claims, etc. Someone must report a problem by paypal form, mail, or phone and then any account claims, restrictions, or blocks are initiated by a human paypal rep. I've also learned that most items sold to the state of california that cause you problems are actually purchased by in some shape form or fashion by a paypal employee who has access to your account and if you tick them off in the least they will **bleep** your acount up any way they can. Also, ebay has been known to change my preferred payment method for ebay fees without my knowledge or permission. This of course, is illegal as any one with common sense can see, but what can be done about it?

[stephankrasner]

Yes, This new security policy is VERY annoying! I don't use ebay to make money on a regular basis, but If I sell something for petty cash like $200 I don't expect to get held up by a 21 day wait period. That totally defeats the point of not accepting returns, the buyer could decide he doesn't like sonmething, and then return it 21 days later. I'm using Craigslist from now on. 9% in fees between Ebay and Paypal is just too much anyway. Craigslist is free and you don't have to deal with delivery.

Edit: Actually, I now exactly why they changed the policy. They are a bank. If they take the hundereds of thosands of dollars transacted every day and invest it as long as they can they can double their money off the same old transactions.

[pikachoo]

   ...If paypal is indeed a bank then they are under the strict rules & regulations of the Federal Banking Institutions policy yadda yadda yadda etc.. That means they can't for any reason withold your funds. But, since they do, obviously they are getting away with acting like a banking financial institution as a cover up for money laundering and holding our  money hostage so they can rake in millions on interest. And no they do not care or appreciate our business as a valued customer. All they are concerned with is dollar signs in any shape form or fashion.

    What paypal and ebay have yet to realize is that it's not the big forbes companies or commercial corporations that made ebay and paypal what it is. It's us little 'ol home based individuals & families trying to make ends meet and get enough extra each week to make sure our chidren have enough to eat and a roof over their heads. We are the ones who put ebay on Wall Street. Not the big companies. And yet it's us backwoods folks & apartment dwellers who are made to suffer for it. I guarantee you, paypal has not, and will not ever hold any funds belonging to Disney, Best Buy, Sears etc who actually do meet all paypal's criteria for "fund holding".

    So it proves paypal & ebay are biased, prejudice, and discriminate against us "poor folks" as i call it. Lot of thanks we get for helping them to get rich huh? They are getting greedy and pick on us since our name isn't on the stock market and they know we can't fight back like a well known corporation can.

[Dar196]

Hi there, I agree with this topic. It seems to be new, and I just found out about it 3 days ago when I sold a ring for 335.00. Now that I have 1000.00 on hold, Im **bleep**!!! Just think about how many people they do this too and he interest they make by doing so am sure it does not go into a NON INTEREST account . Yea right!! It is another way for eBay to make money. I have been with eBay for approx 5 years with NO resolution problems, and 100% feedback with all payments made right after the auction. I am with you...all of you..on this one.They better pull their heads out of their a** and take care of  the people who pays their bills. I will be calling them today..this is bull**** I think at this point Consumer Affairs should be contacted and this matter to be discussed with them.

Stay in touch

Dar196