I sold on Ebay and recieved payment from Paypal. Payment on hold?

[aaronsean]

I sold some expensive motorcycle carburetors on Ebay and the Paypal payment is on hold for 21 days??? I didn't notice there was a hold before I mailed the item.

I mailed them but now worried that I could lose my payments if the buyer requests a refund after he recieved them. How can I avoid a scam like this?

[kernowlass]

@aaronsean

Even if the funds were in your bank account if the buyer filed a dispute and paypal found in his favour then you would have to refund them or risk your paypal account being limited.

So the ''hold'' puts you at no more risk of that happening, it just protects paypal because if as the result of a dispute you refuse to refund the buyer (to unlimit your account), then paypal would re-pay the buyer under their buyer protection policy.

Every seller on Ebay has gone through the new seller hold and you rarely have to wait the full 21 days, info in link below  >>>

http://ocsnext.ebay.co.uk/ocs/sr?query=1746

[aaronsean]

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Paypal seems to be welcoming a scam by putting someones' funds on hold like this. Couldn't the buyer keep the item and receive their miney back as well with this policy? Or the buyer could send back a different item after they were refunded?  Not very fair for the seller.

I wonder how much money in interest Paypal makes by holding multiple members' money for 21 days?

[kernowlass · Accepted solution]

@aaronsean

Did you actually read my post because from your reply it does not appear you did.

[aaronsean]

Paypal's "buyer protection policy" benifits Paypal under the guise of protecting the Ebay buyer. You and I both know the amount of interest Paypal makes by putting other's money on "hold" for almost a month is a small fortune. If money is sent through Paypal to pay for goods and services, and Paypal takes a percentage of the funds, it is none of Paypals business if sastisfaction of the good or services is not achieved. It is a busniness of transfering funds that opens up a window for possible scams to take place.

[kernowlass]

@aaronsean

You need to get your facts right.

Paypal and Ebay are 2 separate companies now with 2 separate policies for holding funds.

Your funds are held under Ebays held policy and they authorise WHEN paypal can release those funds.

Also every Ebay seller has gone through the hold including myself and most of us realise its for buyer protection and so don't mind.

And of course its Ebays and paypals business if the buyer is satisfied or not as you are selling using Ebay and receiving funds via paypal.

Their sites their rules,

If you don't like it go sell at a car boot sale. 

[paultremblay003]

I think that everyone who sells on eBay, take the extra 3% and accept payment by credit card only as the "hold" Paypal puts on EVERYTHING from a sale to a refund is unacceptable...  they claim they are using an alternate financial institute and that is the reason for the hold but I'm sure that like a bank, Paypal won't provide interest on the $$ they hold and simply pocket the money...  Something doesn't smell right.