HORRIBLE IDEA TO HOLD FUNDS FOR 21 DAYS!!!

[gearhed78]

  Holding funds from sellers until the buyer leaves feedback is the worst idea EVER! Since when does Paypal become an authority on buyer satisfaction?? A smooth transaction is all that I wanted from Paypal. If they are going to hold funds, then they should make it very clear BEFORE you use them!  Keeping my money in their account for 21 days is a HUGE disadvantage of using Paypal. Stick to transferring funds,not trying to be a satisfaction authority!

[spenn]

It is now obvious that paypal is acting illegally and skating on very thin ice.

FACT = the is NO SUCH WORD AS 'Unconscionability' in the English dictionary. As such if this was challenged in a UK court, paypal would lose simply on misrepresentation alone!

[Disenchanted]

See Black's Law Dictionary for definition.

[Journey]

Disenchanted,

Do you happen to have a blog?  I was enthralled by the way you put this into perspective and told your point of view on what PayPal is doing.  I would like to read more of your writings about your points of view on other topics.  Simply fascinating, sincerely.

[Disenchanted]

Hah!

LingMAO, Journey. //wink, wink//

Nope...just a little guy caught up in this hold thing and now hanging out at PP's insistence waiting for the last of the held funds to be released.

Since I gotta be here, may as well yank some chains, eh?

[Although its kinda like repeatedly kicking a hydrocephalic kitten]

[Tween]

I completely agree . I have auctions ending soon on ebay and dont know if I will have the money to pay all the shipping cost out of pocket . Paypal needs to at least let you print your shipping label . You would think this would be illeagal . Also there is noway you should have to wait 21 days , once the buyer receives the item and leaves feedback , the money should be available immediately NO QUESTIONS ASKED !!!!

[insolentpheasan]

dear tween: many thanks for your comments and, as you can imagine, i more than empathize with your situation. i fear we are tilting at windmills as ebay owns paypal so we are protesting against a monolith and i do not see a strong competitor on the horizon. i like the bonanzle program a great deal but it needs more advertising and participation. good luck: i was an early, enthusiastic ebay participant, but the organization is no fun to deal with and is seeking every way to collect more fees and constrain the sellers.

[purplelover]

paypal **bleep**!!!!!  i transferred funds to paypal before making my purchase and paypal still withdrew the amounts from my checking account again.  and it is a holiday weekend so i am out $50 for a 3 day weekend. 

then i am told i will have to wait for paypal to show a credit balance and then go in to paypal and do a withdrawl which will take 3-4 days for the money to be back in my account.

get a better system because this one **bleep**

[Disenchanted]

Please see http://www.ehow.co.uk/facts_6760360_examples-unconscionable-contracts.html

for use of the term as applied to contracts in the UK.

First word, first paragraph, 'unconscionability' is defined.

[insolentpheasan]

i am also outraged at this withholding of payments for up to 21 days. i went to post office yesterdayf and had to pay 70 cents each to mail books to two buyers so i could have a tracking number.  one big question i have is this:

IS PAYPAL GOING TO PAY US INTEREST ON THE MONIES PAID TO US THAT THEY ARE HOLDING FOR UP TO THREE WEEKS?

i am a seller with limited sales and this policy is very detrimental to my cash flow, plus being insulting and off putting.

i also resent that i am not allowed to offer or accept checks, money orders and the like and am locked into paypal whether i always want to use that service.

i hope as many disgruntled paypal customers as possible will express their concerns to paypal,

[JVB]

Interesting that no PayPal employee has had anything to say on this thread...

New phrase for Websters... customer (lack of) service