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!

[adamvaz]

I agree as well... My item sold on Tuesday with immediate payment received. Shipped the same day and the buyer received it on Friday and placed positive feedback the same day. Here it is Monday now and my funds are still being held.... Really!!!!!

[krikrikamkam]

Whoever came up with this "bright" idea needs to be FIRED IMMEDIATELY!!!!!! I will leave ebay along with alot of other people I see. They need to realize this is NOT acceptable and WILL NOT work! I also am a single mother trying to make ends meet and do not have extra money to ship these items. People don't always leave feedback and some that do tend to leave negative because of things like "item was wrinkled"!! Really?!?! Maybe thats because it just shipped across the country!!! Heard of an iron? Ebay and PayPal have issues that need to be worked out AND not at OUR expense!!!!

[ricanmami4u]

I totally agree as well that this was an awful idea to hold our funds.I sell and ship out imediately and have to wait for funds. WOW. and I bet people that really have problems with shipping the right items and shipping out soon dont have hold on their funds.Because as far as I know it doesnt happen to everyone, this is a random thing.Ebay needs to re-evaluate this.

[LaLa_K]

I sooo agree!!! All this doing is allowing Paypal & eBay to make interest off of our money! I think at the very least if they are going to hold the funds we should be paid interest on each and every day it is held. Plus I also have had INCONSIDERATE & IGNORANT buyers who could give a rip about leaving feedback if they are pleased with the item...but should there be a problem the negative feedback is quick & swift! I have tried to explain to eBay that their feedback system needs overhauling but they just put it off explaining that it is an independent review and the fairest way for all which as we sellers know is complete BS!!!  

[Temp20211002W]

From what I've read here, PP holds our money more than 21 Days...they actually keep it for 6 MONTHS!  Yep...180 days!  I, for one, am not about to wait until June 2011 to be paid for my Christmas Sales!  I've done some research and found an alternative to PayPal for Ebay.  Ebay allows it on their site...it's called Moneybookers...and it's FREE to sign up!  I signed up for it last night and I'm just going thru the verification process now.  I should be good to go within the week! 

I'm also looking into becoming a Seller at ONLINEAUCTION.COM.  You can be a VERIFIED SELLER for only $8.00 per month.  I am looking at it seriously because as a Seller, Ebay is not treating us fairly and I'm not going to PAY them to treat me like crap!

Check it out for yourself and make your own decision.  I'm just sharing what I've learned in the past 24 hours.

[wolfdaddy205]

http://www.fraudpractice.com/mindshare.html

[camargo2012]

SOMEBODY DO A LAWSUIT AGAINST EBAY AND PAYPAL! and claim compensations to them! they deserve it for being such punks! 

[Easy123]

I just received the email notice of the 21 day hold and am VERY  disappointed that Paypal treats its customers this way.  Instead of waiting for the item to be delivered, release funds when  the item has been recorded as shipped (assuming tracking number is available). It's the responsibility of the carrier to deliver! Seems to me that eBay is trying to solve a different problem - scammers who sell stuff on their website and don't deliver. Maybe eBAY  should just do a better job at screening their sellers before they let them list items on the site.

[rhunter58]

Paypal decided it needed to audit one of my transactions, so it held my funds under the false pretenses that the buyer involved had filed a case with ebay. While I can understand the concept of audits for ensuring system security, the buyer in that specific transaction has already received the item and left me positive feedback. Paypal has delayed providing a response and "my" money is still being held. Imagine if this small transaction amount were "held" from 25% of paypal users- it provides paypal with an opportunity to earn interest on third party funds for a few days, and then charge their transaction fees when they finally release those funds.

[rhunter58]

There's two (2) obvious advantages for paypal with this new policy. The first is the pretense of attempting to ensure customer satisfaction for buyers- it's a public relations coup, but only if you're a buyer. Setting parameters on the process such as meeting milestones for payment release based upon dates for shipping, delivery confirmation, etc. ensures that they becomes more involved in the entire transaction process.

The second is the ability for paypal to hold payments for longer periods pursuant to written policy (not arbitrarily), and to use third party funds to create a new revenue stream- interest made on your money. If they focus on buyers as the primary customers, they ensure an influx of capital that they can leverage without using any of their own assets- if buyers demand paypal, sellers will have to comply. The real issue is that ebay now owns paypal, and the integrity of the purchase process has been compromised. Without an independent financial transaction system, ebay or paypal can "hold" funds for varying reasons from customer satisfaction to system-initiated security audits.