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!

[USNretd]

Incompetent is too simple of a term.

Ret'd military over 20 years - Korea and 'Nam - owned multi corp - multi heart attacks - stroke during tests in surgery - designer of major medical equipment (scrubbing down in surgery as a graduate engineer) - etc etc

and now You can't get Paypal get your refunds on crap sent by a crook - a seller of garbage (over 5 month).

You say incompetent ...... Yes it is more difficult to function at this age when you came from a time when honesty ruled.

[waynnesumner01]

i know what you mean they did it with me ,21 days they must make a fortune on interest ,why oh why dosent ebay get rid of this incompetent company once and for all .

[ocpoolman2000]

Ebay purchased PayPal.  They are the same company.  How does that make you feel?  I am sure you are correct about the interest.

[ocracokedreamer]

What I am having problems with is that feedback from the buyers is hard to get. I have even sent emails requesting that they leave feedback and if there is a problem to get in touch with me asap. Paypal states that within three days from the deliery of the item that they will release the funds but this is not always the case. I have two or three that was delivered on the first and only one has been released. It is very frustrating for me especially when I have been trying to buy Christmas and this extra money is what I am counting on to buy it. 

For some reason the buyers whom do not sell do not understand that I do not get paid via paypal until they leave the feedback or Paypal just decides to release the money.

[Spongehead_98]

Agreed.  I've been selling on eBay for over 10 years and have using paypal for probably as long.  Never had an issue, and they want to punish me with this BS despite my perfect record?  Why not just hold funds for new accounts until they have some history established?

I'm done with Paypal.  They can go **bleep** themselves with their across-the-board 21 day hold.  I'll be using other ways to get paid from eBay.

Matt

[Watchout]

Spongehead_98::: I hate to make everyone even madder but I am a new member to Ebay and had a paypal account for the last 5 years but pretty inactive to the point my bank info needed updated.

I found some item's on Ebay and updated my information.  I went out and bought a Green Dot card to use as a backup to my debit Visa and also a $200.00  Money pack so I could buy lot's of great Christmas gifts.  A few day's into buying 12/8/10 I decide to sell my Brand new Ipod touch I won at my company for $180.00 which was $20 less than average auction or buy now price.   I did not want to wait to buy more gifts.  Went back to buying and looked over at my email and received notice my item had sold.  Went to my paypal account and the money was there-completed.   I kept buying and decided on 12/9/10 to transfer $100 of it to by bank account.  Four day's later the money was in my bank account and available to withdraw.

It cost me $5.67 in Ebay fee's I guess and because I used the shipping label on Ebay/Paypal they deducted  $5.44 which was for Priority mail w/tracking number.   I only charged the buyer $5 shipping.   I got it ready to take to post office next morning.  Used there free priority boxes and packed it with a Hallmark stocking I had picked up for about $.25c  at a Hallmark  Christmas clearance.   The tracking  number automatically  uploaded to  the Ebay  system.  I sent  an email to the buyer letting her know it was in  the  mail and she would have by 12/11/10.   Buyer left Great feedback same day she received item without any prompting from me. 

This was a perfect transaction for both buyer and me. But then the nightmare's began with about 5 of my transaction's.   One seller had listed his Rare item on Amazon and Buy now on Ebay for a good price so I decided to not try by bidding and just get  it.  It was about $40 less than any auction.  Two day's later I contact seller to find out about tracking and he apologizes  he sold it on Amazon about the same time.  He only had  one.   I  had to wait 7 days  for $50 of my $80 refund to post back to my debit credit card because  seller chose e-check  for method of  refund, according to Paypal.  I had to wait another 4  day's for  the remainder $30 to post to my credit card.  I had to get a payday loan in order to obtain the rare item from another action ending soon. 

Three other seller's shipped me the wrong item and want me to pay for shipping before they will refund.  I refuse to pay for shipping a wrong item back to a seller.  I asked them to send me a return label and they would not budge so I filed a dispute with my debit credit card through my bank.  In 10 day's I will receive my FULL REFUND and the seller will be forced to pay for postage if they want there item back.

I am just fortunate so far and I am glad because I strongly believe everyone's horror stories with Ebay/Paypal.  I will never sell another item on Ebay.  Craiglist work's really good for a lot of item's. I sold my new tires for $160.00 cash.

[edgardogm]

You all see this as sellers point of view, but what about from buyers point of view?

I just made a purchase from a seller with 26 feedbacks, and feel confident because paypal's policy to hold the money for 21 days, that's more than enough time to get the item and see if everything is correct and if not complain and get the money back from paypal, that actually happens last years when I bought an ipod touch, this seller was selling more than 100 units for 160 dlls. I did report the listing and it result as a fraudulent, the seller was suspended and everyone got the money back

for me this is a great idea

[mummachick]

To buy any electrical item from a seller with reputation of 26 is high risk anyway. I've seen people try to list items for hundreds of dollars after selling 10 items for 99 cents and have perfect ratings; this sets off alarms. And they should be tossed.

BUT when you've sold 600+ items there should be some discretion by Paypal. And when you have positive feedback posted Paypal should release the money. Case closed. Instead it sits in their accounts bearing interest - for them. I would protest less if it was kept in an interest bearing account for me but that's not going to happen.

[mab]

Simply another way making money off our money  how about paying back with interest for 21 days !!!:  smileysad:

[juliark10]

EXTREMELY DISAPPOINTED

I absolutely cannot believe it.  Yet another user that is not going to have her money until December 26th.  So you know what I'll be doing a day before...scrooging at PayPal because I'll feel like an **bleep** getting but not giving gifts.  I also will NEVER USE PAYPAL AGAIN.  Even if they do change, this is showing they obviously do not care about their customers and I don't think I'll ever forgive them enough to want to do business with them again.