HORRIBLE IDEA TO HOLD FUNDS FOR 21 DAYS!!!
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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!
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I called paypal today and guess what they told me they could not give me any information about my account and the reason for all my payments. I know that it is bulls--- they just wanted a bunch more info about me that they do not need. I know for sure I will be contacting a lawyer also the BBB. This hold stuff has got to come to an end for everyone. I am also closing my account once payments are cleared. I feel bad for all that have got to go through this crap. I posted an auction on ebay in radio control about this matter for every one to see and read and told them how to find this discussion so that more people are able to find out what is going on in hopes that if they have thought about selling they will not rely on paypal. If you are interested in seeing it look up 2 cents in radio control on ebay. I wish you all the best and stick in there it is all gonna change. { I HOPE }
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Absolutely. This is ka-ka. It's time to develop my own payment company. When you need your money, when do you need it? Now or later? This idea came out of the hind end of a dog.
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I WILL NEVER USE PAYPAL AGAIN!!!!! to make things worse today is the 21st day and my funds are still NOT available!!!!!!!!!!!!!!!!!!!!!!
**bleep** OFF PAYPAL!!!! I WANT MY $$$$$
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i completely agree because some guys account just got suspended and im supposed 2 send it too him still... but yet i cant get the money??
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Yes, it's crazy for them to hold funds. The issue behind it all is simple. Who is collecting the interest behind them holding our money? Where is the interest on the held money going? Did Pay-Pal in accordance with State and Federal Laws give proper notice as to the changes being implemented and made? Pretty simple issue here, they are holding our money in "Good Faith", okay fine, but I was never given notice until after my money was held. That is is not proper notice according to the law. Maybe they win on a "Good Faith" argument, but they lose when it comes to the interest on the money held. In other words, the intentions of Pay-Pal are good with out a doubt. However, good intentions do not you give you the legal right to retain money and collect interest off it without that interest being paid to the person whose money you are holding with good intentions. Banks hold people's money, interest is paid. This is not about having your friend hold some money for you as security. Pay-Pal does not require a Security Deposit in order to use their services. If they did then they could keep our money in a non-interest account.
What Pay-Pal is doing is Illegal and against fair Banking Practices. They are banking money and baring interest off that money with "Good Faith", but the money is making more money and they are not paying that money back to the owners of the money. We are being Hi-Jacked - Shang Highed, whatever, and Pay-Pal believes it has the right to do this. I agree they have the right to do it, but "Good Faith" is not a simple matter of intentions, it is also what you do with the direct result of the good intentiond you have. The issue has two prongs, Pay-Pal is fulfilling the first prong; however, it is with "Bad Faith" profiting from money that does not belong to them. Has Pay-Pal done anything to reduce the fee's for their services as a direct result of the money they are making on interest from the money they are holding? What happened here is simple. Pay-Pal saw a problem in their system, it could not figure out how to fix this problem without requiring some type of deposit. So the economy takes a bad turn, Pay-Pal is also hit with economic problems. To fix these problems, they have implemented a new system under the guise of making a better system.
Bottom line to it all, because they are not making as much money as they would like due to the economy and other problems they have had with their system, they deploy this new system hoping no one questions what they are making on interest while re-taining the money. I want to see the exact and specific guidelines as to when and how your money is released. I don't want to hear general remarks, nor do I want to hear how it is better. I agree, their system will improve from what they are doing. I question their intentions as to why they decided to do this now, and what they are doing with the interest on the held money? Where did the Lawyer guy go? We have them dead to right, they have no way around the interest issue and stand to lose millions of dollars if we challenge them on Fair Banking Practices.
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Come on guys, let's just cut the chase here! It is time for an Attorney now! They have already started to take more protective measures in case we file a Class Action Lawsuit against them. First it was the little guys money they were holding, then a little guy came along and said let's go Class Action against them. Now to cover up the fact they have disciminated in chosing whose money to hold they are now implementing their system equally across the board. The big guys are gonna get it too. Scared them with Class Action they fell for the fodder and are now trying to cover up the practice of discrimination they were using. Someone is reading these messages and they are responding accordingly to protect themselves. That tells me they knew what they were doing was wrong from the start, but they decided to give it a try by saying they were protecting buyers and sellers. They take their money just like that.
They have increased their share holders profits due to the interest on our money being held. As the held money amount grows on a daily rate, so do does their shareholders net worth. This whole policy change is not about "Good Faith", it is about implementing a system with alleged good intentions, then deploying that system so Pay-Pal and Ebay shareholders can reap benefits from our money. I never agreed to this under-handed guise! None of us would have if they told the truth as to why they are doing this anbd how they will reap huge rewards from it. Good intentions, underneath it all though are bad faith results paid out to shareholders. So what are we waiting for? Someone go to an Attorney and let's take this home then get the **bleep** out of Pay-Pal. Any company that is willing to steal money from its own customers in order to pay shareholders is not a company I want to do business with. As such, I am going to burn up my accounts and go elsewhere once they are done.
We made Ebay, we made Pay-Pal! They need us, we do not need them! Without us these giants no longer exist! It is time for Americans to stand up to these type of rich idiots who come up with these great scams. It is going to take all of us to stand together and show them that we own their businesses and not them! We are the people that make them work, without us they are no one! And this doesn't just apply to Americans, it applies to all of us Worldwide. It;s just that I am an American, and I'm tired of watching the rich keep ripping us off by saying they are protecting us. I see more cops and jails and prisons, which I pay taxes for, but I sure don't see less crime! Tell us all a lie, make us pay for it while they take their money, then rip us off hoping no one ever catches on! Americans are better than this, we saved the world from the Nazi's, yet, Europe is now a much safer and freer Nation than us because they stand together to the death like we taught them. It is time we stand and raise a fist in America again, and it all starts Right here Right NOW! The time for talk is over, it is now time for action!
We need a Class, we need Representatives from every State, and we need an Attorney who is willing to fight these giants that we made!
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Count me in because as a Seller - I have boycotted PayPal as an acceptable method of payment
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Sorry, CopShop...I misread your statement.
Oh, everyone should go to the beginning of this forum and click on the terms of agreement and read them...if anyone can understand all this gobbble-dee-**bleep**!
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I am on board with this tell me when and where. I am in Texas and will gather as many people as possible.

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