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!

[Temp20230531ar]

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@betterprice wrote:

So now paypal not only charges fees for shipping cost (why?) now they also hold money for 21 days (collecting interest on it in the mean time). What a rip off. If another site comes along where I can sell items I'm out of here.

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there are other sites one is ioffer.com and the other is called ebids.net no listing fees ioffer gives you a free store and unlimited pictures i have already said bye to ebay and paypal because on both paypal is accepted but not required 

[lb4]

Thanks for that tip! i will be looking into it today!

[pikachoo]

EBay Inc’s PayPal Inc will be able to keep its share of the growing U.S. e-commerce transactions industry despite Visa Inc’s bid to compete with it, the Web payments company’s president said on Thursday.

Visa agreed on Wednesday to pay $2 billion, or a premium of nearly 34 percent, for CyberSource Corp, a company that helps retailers accept online payments. Visa, the world’s largest credit and debit card processor, said the deal would help it compete with PayPal in e-commerce.

PayPal President Scott Thompson told Reuters in an interview that it would not be in the interests of either CyberSource or Visa to try to cut PayPal out of the picture.

“In order to have a viable gateway service, on behalf of the merchant that you are supporting, you’ve got to offer all the payment options,” Thompson said of CyberSource.

Competition in the sector is complicated by the entangled relationships of the processing companies. CyberSource connects retailers with several types of online payment methods, including both Visa and PayPal.

People who shop online at those retailers can then choose whether to use Visa, PayPal, or other processing companies like MasterCard Inc to pay for their purchases.

Visa relies on PayPal for a lot of business, he added.

“We certainly bring them tremendous incremental electronic transactions that they wouldn’t otherwise see,” Thompson said.

Thompson said he did not expect PayPal’s partnerships with CyberSource or Visa to change, though he conceded that the announcement of their deal had taken him by surprise.

Visa processes about 45 percent of U.S. e-commerce transactions. PayPal handled about 16.5 percent in 2009, but that amount has been enough to worry Visa, which has limited room to grow in traditional U.S. credit and debit card processing.

Visa’s chairman and chief executive, Joseph Saunders, said on a conference call Wednesday that the deal for CyberSource “is somewhat in reaction to” PayPal.

[pikachoo]

In The News:

Former EBay Inc. Chief Executive Officer Meg Whitman won the California Republican nomination for governor to face Democrat Jerry Brown in an election to decide who will lead the most-populous U.S. state as it struggles to emerge from its worst fiscal crisis since the Great Depression.

[madjen]

Thank you! I really appreciate the tips. I just have to pay some fees on ebay, then I am quitting too. What do you use instead of paypal?

[paul]

Ebay is PayFoes of small businesses boss and Eslay is the blame.THERE IS AN ATERNATIVE TO PAYPALS MAYHEIM,A COMPANY THAT PAYPAL USED TO BE WHEN THEY WERE HONEST.AUTHORIZE.NET.THIS NEW COMPANY PUTS THE MONEY UNDER THE MERCHANTS CONTROL AND ENCOURAGES US HARD WORKING PEOPLE WHO DONT HAVE WAREHOUSES AND MILLIONS.THEIR VIRTUAL TERMINAL FEE IS LESS THAN A THIRD OF PAYPALS AND SELLERS FEES ARE A FRACTION AND ARE ALOT EASISIER TO GET ALONG WITH AND ASIDE FROM EBAY THERE ARE PLENTY OF VENUES TO MAKE MONEY

[Momof3boys]

I agree with you all, but I can see the other side too. I quit selling a LONG time ago when eBay and Paypal ( the same company folks) started to change and increase their fees-not worth it anymore. I purchased a bunch of items for Christmas presents and 2 never were received. They both had 100% feedback and over 3000 sales. These were bought in November. One seller now has over 39 negatives and people never received their items. One person was out over $600 for a camera. Guess what? I should have read the feedback he received as a buyer, because he was an INMATE in a jail. he was running his account from JAIL. I am still awaiting a refund and paypal has yet to respond to the claim and it is passed the amount of time the seller had to respond to the claim. I now have a claim for the other item I never received. Unfortunately, as a buyer it is really hard to trust sellers after this has happened. I was a seller one time too and was an honest one and it does make you mad when they do this to you as a seller, but it stinks to get ripped off too as a buyer and never receive what you bought or a refund when it was all out of your control. When things turn like this, it's time to get out and find another source of income and that's what I did!

[madjen]

Yes, I have been ripped off as a buyer twice and as a seller four times. I was a honest seller

and buyer. I could not get my money back when I was ripped off either. The thing is,is most

seller's are decent and most buyers are too. The problem is ebay,&paypal dosen't weed out

the bad buyers and sellers and make them stop pronto. From jail? that is unreal,huh?

Now they are punishing really good sellers for no reason. They have their priorites wrong!

[lilserenity]

This is the worse Idea ever.. How are we as sellers suppose to upgrade and insure an item if Pay[pal holds our funds to do so even shipping overseas .. I can't afford to ship to Australia geeezzzz.. I am going to close my paypal account and just use money orders or monygrams Paypal has lost all respect from me I may even go to another Auction like Amazon or UBidz..Has Paypal figured out while we are waiting 21 days the buyer after he receives the item can cancel the payment?? This is so stupid I lost over $3000.00 in money due to this wonderful idea.. Im done with Paypal.. Good luck to anyone who thinks its a wonderful idea... lilserenity

[amethystlady2]

I too had a problem with a seller.  She never sent the item I purchased.  Kept claiming it was in the mail after having to go "out of town for a death."  Over the years, I would read her feedback from time to time, and eBay was still allowing her to do this same thing to several other buyers. 

And she constantly used that lame excuse about a death in the family.  I sent a money order for that item..But eBay never followed through on MAKING HER SEND ME MY MONEY BACK!  They are such weak sisters it isn't even funny.

Their complaints are ignored, basically.  They will do NOTHING to help anyone with a similar problem.

I came back here just to look at some items..But after hearing all of this, it wouldn't help any sellers if I was to purchase anything.  Way to drive you business away, eBay and PayPal.

And to this day, that woman still has frequent "deaths in the family."  Very strange!