Funds in hold for an item that was collected in person

[Jadie_p1]

Hello,

So I sold my laptop on eBay for £550 , thinking that I could have access to my funds straight away to get a new one (unaware of this 21 day hold on PayPal money). The person paid via PayPal straight away on eBay and then collected it the next day in person. So of course, I cannot add a tracking number. (which I hear speeds up the process) They did however leave positive feedback on their end through eBay and on my end I have marked the item as processed on PayPal and as shipped on eBay. 

This 21 day hold I still unfair for several reasons:

• PayPal is making profit from having money that does not belong to them. Each day they have the money, they receive interest 
• Sellers may be relying on that money. I am now out of pocket for the sum £550 which was going to be used for a new laptop and to pay my bills. I'll now have to attend university with no laptop at all until funds are released (whenever that is as there is no approximate time as I cannot upload a tracking number)
• Buyers are in full control- if they have the item, they can dispute the transaction, reverse it or want a refund. I don't have the money or the product so potentially they can keep both! What about seller protection? 

What can can I do about this? There is no way I can wait nearly a month for my money, when rent is due in less then 2 weeks! I cannot upload tracking as the person collected it in person and PayPal obviously get complaints about customers money being on hold a lot as there is no direct email address and when I've called, it has an automated system that reaffirms the policy. I have tried the agent thing too, but put on hold for a long time!

Can a representative please tell me how long I will have to wait? I do not think I will sell via PayPal again after this.

[kernowlass]

@Jadie_p1

So why did you accept paypal for an item that was going to be collected??

On Ebay you are allowed to list ''cash on collection'' and refuse paypal for those types of transactions.

That is because their is NO seller protection on Ebay / paypal for items that are collected. If your buyer filed a dispute for non receipt of item then he would win if you could not provide a tracking number to prove delivery of the item to him.

If you had listed cash on collection you could have had instant cash / no paypal fees / no risk of a paypal dispute for non receipt.

But you chose not to so now you have to wait the 21 days as you can't provide a tracking number that would have released your funds more quickly.    

[Jadie_p1]

I was unaware that you could pay in person as I did not see the option on eBay. I don't think eBay make this clear enough.

Are you saying that I now HAVE to wait 21 days for my money?! 

[kernowlass]

@Jadie_p1

Well when you list an auction and get down to selecting payment methods ''cash on collection'' is clearly listed as a payment option.

I am saying without a tracking number you will ''probably'' have to wait the 21 days..........yes.

Read this link  >>

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

[Jadie_p1]

Ok so on cash on collection, what if the cash is fake? Or how can you be protected through eBay as a seller if you don't use PayPal? 

[kernowlass]

@Jadie_p1

Well I you think you are going to get fake cash I suggest maybe you keep your item and don't sell it.

Seller protection is not a 100% cover-all, you have to read up on seller protection and then risk assess your own transactions.

All I am saying is that if you had accepted cash you would have already been paid.

But now you face a wait for your money AND risk losing it if the buyer is a scammer and files a dispute for non receipt of item.

I can only give you the information, the rest is up to you .

[MisWolf]

I'm in the same boat, and really quite corss about the whole thing.
I did not know that this would happen before listing my item, and this is unacceptable to be honest.
No where was I notified that this would happen prior to listing my item, and now I am stuck without  the money for it.
I posted the item so cash on collectiion wasn't an option. I need the money, and now I don't have it.

I will be listing on other sites from now on. This is so rediculous it's not even funny.
It's not like I've just started selling, I've sold  numourous items over the years, and never had this problem.

[smulsh]

I wonder if Ebay or Paypal wait 21 days to receive their fees ?

[kernowlass]

@smulsh

No  they don't but then they offer a buyer, buyer protection and in that scenario if a seller does not refund a buyer then paypal have to do so.

So for new sellers they hold the funds until they have built up a bit of selling history.

[smulsh]

Sounds fair enough.

Thanks for your reply.