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!

[nobody]

I'm a soon-to-be eBay seller (personal possessions, not as a business) and I'm really not liking PayPal as an option for receiving payment primarily because of this hold policy but also because it appears PayPal is doing nothing to prevent chargeback scams.  PayPal has been very convenient and reliable for me as a buyer though, I will say that.

So I'm looking at the other options and wondering if they're any better.  I suppose the PayPal forum is not the place to discuss them.  🙂   However, I do wonder if those of you who are complaining about PayPal are switching to the other payment services.  A lawsuit is one way to register a complaint about PayPal's business practices, switching to the competition is another way.

[ocpoolman2000]

You obviously have no idea what you are talking about;  Just  like the Ebay and PayPal customer service parrots.   Maybe you are one of those paid assasins.  PayPal is holding over $1000 in the pending category.  $450.00 of the held funds is for the shipping.  I cannot afford to ship the items.   I do not trust PayPal.  It is very possible they could hold the funds and then I will be out the product and the shipping fees.  What is eveyone telling their customers?  Does anyone have a good form letter to send their customers describing the THEIVES PAYPAL POLICY.

[stealingmoney1]

they are holding 1400 of my money and its been seized for 180 days only 160 left they also over drew my  bank account saying i had d dispute but no dispute showed i got my bank account money back and changed those account numbers but paypal is dying they just dont know it yet hope my BBB complaint as long as the FTC my state senators congressman and the us attorney general do some good

[DIANN]

INTERESTING.  THE GOVERNMENT IS PROB GETTING PAYBACKS FROM EBAY, PAYPAL.  MY SON DOES GOVERNMENT WORK.  HE OWNS HIS COMPANY.  HE STILL HAS OUTSTANDING INVOICES FOR 2 YRS.  K MART, SKIP PAYS INVOICES.  I WAS A CREDIT MANAGER & COULDN'T BELIEVE IT.  THE SKIPPED INVOICES ALWAYS HAD A COMMENT ABOUT THEIR DISBELIEF THAT ALL THE PRODUCT WAS THERE.  I TRULY BELIEVE THAT THE GOVERNMENT GETS PAYBACKS TO ALLOW THESE THINGS TO GO ON.  THEY DO IT THEMSELVES.

[cinbiker1]

you must be on crack! What company do you know that will ship your item and then get paid? Name one!

[eco123eco]

Here is a great one for this horrible idea!  I sell a bulk lot of items an Ebay Store buys them from me, turns around and starts to sell them on Ebay and my money is being held hostage.  What kind of Monster has been created here?  Is this for real, Ebay will protect the Ebay Stores yet everyone else is on their own.  Ebay stores can buy your items re-sell them before you receive your money and that is okay.  This is a one-sided affair designed to protect all the Ebay Stores.  The average person does not benefit from this horrible idea!  While my money is held who is collecting the interest on that money?  Maybe it's time to speak with an Attorney, I think Pay-Pal owes us some interest on our held money?

[victimoftheft]

Count me in.  I am just a customer, however I am experiencing the same situation on a smaller scale.  I purchased an item on ebay.  The seller refused my payment through paypal because they held funds and did not immediately release them.  I used Paypal Dec. 31.  The vendor refunded (or attempted to refund) my paypal payment Jan. 1.  The next business day, Jan. 4, my original payment was debited from my account.  I am still waiting for the refund to be credited to my account.  It took one business day to take my money but allegedly 3-5 business days to return it.  They have had my money since 12-31.  I am a lawyer.  I do not do plaintiff class actions but I know some who do in my hometown New Orleans.  I am contacting them today.  F paypal.

[eco123eco]

Then let's get started, because they are going to collect big on the interest from the money they hold.  Imagine how many customers they have and just how much they are collecting on interest.  I do believe there is a thing called COMPOUND DAILY INTEREST and that is the starting point.  All we need is one more, it only takes 3 to start the Class Certification Process, and I believe since we are crossing all state lines we are entitled to go directly to a U>S> District Court and our claim on behalf of the class, and to request class certification.  WE NEED A THIRD PERSON, more would be even better.  It's pretty simple they are holding millions of dollars world wide and collecting huge interest amounts, do we get a discount, and did we agree to this or was it forced upon us?  You are an Attorney, run this past a Law Firm and I bet they jump on this quick!

[worldfest]

Howdy from Houston...

One has to wonder what idiot dreamed this one up. Surely they would know that this would stir up a hornets nest... So they must feel that they are safe and no one will fight it, and they do stand to make millions of dollars on interest from the multi-millions of dollars in fees they have holding in escrow... and are earning daily overnight interest for them.... We are a small seller, members for 5+ years, 100% rating, never a single complaint and they are holding our funds. We are a 43 year old non-profit, educational/cultural organization and we certainly do not want to have to wait 21 days for our funds while they sit on them and earn interest...

Certainly a good class-action filing would get their attention, but they are all "lawyered up" for this, I am confident. They have obviously thought it through and I would assume - feel the earnings potential of holding funds offsets the risks. I have emailed them twice requesting information and they have yet to reply... They are rather obviously stone-walling and hoping that we will all go away. Count us in - we are the 43rd Annual WorldFest-Houston Intl Film Festival... and I am mad as h&$%... Regards to all and a happier New Year!

Hunter Todd

[copshop468]

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