Paypal holding payment

[Lochsong]

Hi. I have just 'received' my first Paypal payment. I have sent many, no problem. They call it instant and free. I now discover this is a lie and that they are sitting on my money even though the item has been collected and the buyer thinks they've paid as their money has been taken. On top of that they've taken a cut of the money I haven't received. Is this normal? I think it's called laundering as they are giving a false impression to their bankers of wealth. How often are they doing this? Has anyone ever had the same problem? Are there thousands of payments being 'held' by paypal?

Thanks

[kernowlass]

Firstly why are you accepting paypal payments for items that are collected?

As there is no seller protection for those types of items (as you can't prove with a tracking number that the item was delivered to the buyer), then ebay allows you to list cash on collection on your auctions for those items only.

Secondly I think you would be wise to read up on ebay / paypal before you start selling as you seem to have no idea.

Payments are instant but if you are a new seller then the new seller hold applies. This is for buyer protection and until you have proved a good seller with a few transactions safely undertaken.

New seller hold that every new seller goes through.

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

As for your money laundering comment that is just ridiculous. The money that was taken was your paypal fee. Did you think that paypal was free? That it was a charity and their staff don't want paying at the end of the month?

You pay 3.4% + 20p per transaction and that is deducted from your buyers payment before the rest is credited to you. This is different to your ebay account bill that is debited x1 per month.

Fees can be seen at the bottom of every ebay and paypal page.