Paypal Holding onto my money

[stormycat]

I'm furious with Paypal - My buyer has paid for an item by Paypal. The item has been collected. The buyer has left feedback to say how perfect the transaction was and that the item is exactly as described and how happy he is. But, Paypal are holding the funds for 21 days. Why? The transaction is complete. The buyer is happy and has left feedback saying so. I have created a Paypal account a few months ago and have used it to buy things....which i have done (nope i didn't get to hold onto my funds until Paypal proved itself to me in terms of being a reasonable supplier). What possible reasonable explanation does Paypal have for holding onto my money?....and please, no yadda yadda about T&Cs, or references to me being a new seller. I advertised...I sold...the buyer paid...he collected the item....he left super positive feedback. Paypal make serious amonts of money by holding onto funds and using it for their own cashflow or investment purposes. Well, Paypal are one customer down now. Great job Paypal. When you start forgetting why you exist and why you have been succesful so far, you will fail eventually. Customers are annoying I know, but you needs us to make money. The more of us you upset with draconian policies, the faster you will fail. Shame on you.

[kernowlass]

@stormycat

New seller hold that every new seller goes through.
Positive feedback is not one of the criteria for early release of funds.

https://www.paypal.com/uk/webapps/mpp/security/ebay-payments-learn-more

Though you did not have to accept paypal for an item that was listed on ebay for collection as there is no paypal seller protection for items that are collected.

So ebay allow you to put cash on collection on those auctions, then you would have had cash in hand and no paypal fees !!!

If the item was to be posted then funds are released when tracking shows the item delivered to the buyer + 3 days....all in the link.

[stormycat]

Thanks - so, if the buyer being entirely satisfied with the purchase is not part of the criteria for holding onto the funds? Why are Paypal holding onto my money? Please, I appreciate your reply but it does not answer the question. It's just corporate speak. Ts & Cs etc....I get that Paypal have the right to hold onto the funds...I would like to know why, given everything about the sale is closed and the buyer is happy, why is Paypal holiding onto the funds? Just to repeat, I know it can, I want to know why it is. And, in terms of your reply, the item was not posted...I already said in my post that the item was collected. Not relevant. 

And...Paypal "allowing me" to take cash on collectiom. Wow, that's recent of them. But, I use Paypal for good reason. I do not want to run the risk of taking caounterfeit money. My post wasn't about having to pay fees for using Paypal. I'm happy to do that. I use Paypal's digital wallet because it makes good sense for me. As I said before, I use Paypal to buy things as well as sell things. I like the digital wallet. I don't like cash, so telling me I could have saved money by not using Paypal really doesn't help.

We all the know the answer really is....Paypal are holding onto my money because they can. They have written Ts & Cs that give them the right to hold onto my money. I have no choice. That doesn't make it reasonable, it just allows them to do it. I have to decide if I am happy with them using market power to enforce unreasonable terms of business, and, I am not. I will wait for my money and then cancel my account. No-one at Paypal will notice. No-one at Paypal will care. Paypal have lost the will to listen to genuine customer complaints and act reasonably. Sad, and in 5 years time, Paypal will be wondering why other digital wallet competitors are eating their lunch and customers have shifted away to someone who does things better, faster, and without being unreasonable.

Blimey...this turned into quite a rant. Sorry about that. I just want my money for a sale that is entirely closed, and I want it faster than 21 days.