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!

[madjen]

Thank you! I am so angry! & depressed! That was MY Christmas money, how dare they!

I think I am figuring out more of their scheme everyday. They started the top seller thing,

after that they start getting rid of anyone that is not making enough money, no matter how

good of a job you do. They are NOT doing this to people who make a LOT of money, as

those people can afford an attorney. And they are making money off the interest of the

money they are withholding from us and yet we get no interest when they finally release

it. They are illegal and corrupt but they have attorneys. I am quitting both companies as

soon as I end my few auctions.

Good luck to you. I know how hard it is to just make it through the month anymore, but

these people are heartless. Hope your holidays are good despite everything! Jennifer

[copshop468]

Madjen & Ohters Here: I agree with you completely. We need to get together fast and fight this. I, too had the "brianiacs" at PP refund hundreds of dollars last year after a buyer who boiled a nice classic motorcycle gas tank in acid and ruined it. He then filed a complaint with PP, they in turn ruled against logic, the "before & after" photos including the one's p[osted on Fleabay, and refunded the money! I got back a destroyed tank and nothing but grief.

This is complete and udder harrassment and them holding on to our money. I agree that one should not ship until paid, as then WE are laying the money out of our pockets and then hoping to get a  positive feedback. How ludicrous! I too, sell on Ebay in order to earn some money in this Gawd Awful economy. I feel for the fellow that needed the money for Christmas and then had to wait until Jan. 7th to get his money. PP charges us a fee and then makes us wait on top of it. BS!

I ask all of you...............how many of you also just completed a survey from Ebay like I did recently? I let them know that I would not recommend them after what happened with the tank mentioned above. I also said that their Buyer Protection for cars was a joke in that same survey. Now, just days after I completed that survey, they do this 21 day thing and I fit none of the criteria that would precipitate that happening.

It is time for us organize and see if there are banking laws that will prevent this from occurring. I also just read about an attorney that told his bank to go stuff the 27.99% interest rate that they changed his credit card to yesterday. Maybe he would like to fight this with us.

I am visible on Ebay and you have my handle.

[madjen]

I have quit ebay and gone to ebids, I have to wait before they take more

seller funds from me ( of course they have to get theirs!) It's hard to

leave there ONLY because of the buyers I have had over the years,

but one of the best things we can do is cut them off at the knees by

refusing to do business with paypal or ebay. Next is to organize a

group complaint or lawsuit against them. I have heard that was al-

ready initiated, but does anyone know how to join?

[cinbiker1]

go to letssuepaypal.com

[mondrayuk]

PayPal are Inglorious Basterds !!!!! 

[copshop468]

Yes, I looked at letssuepaypal.com and the ball is rolling. Come on everyone.....join the class action suit and be heard.

[Lynette]

Good for you, more of us need to speak out and  I am going to contact the FCC and my state representatives and we all should..  Isn't there something about fair business practice?  This is a monopoly that needs to get decent competition..  Customer service is horrid to non-existent, they require us to only use PayPal and not money orders and checks and they not only take their piece of our sales but now have the use of our money for 21 days. How about all the bad buyers that will buy our items, say there is a problem, get their money back and then won't send our items back, that is what I am afraid of.  The FCC needs to look at all these demands that eBay and PayPal are forcing on its real customers - its sellers large and small!

[femsol]

Just wanted to correct the information about who to file a complaint with.  The FCC is the Federal Communication Commission and IS NOT the agency to complain to as their purpose is basically telecommunications, readio, tv etc.  The agency to properly file a complaint against eBay/Paypal would be the  FTC--Federal Trade Commission  http://www.ftc.gov     they are a good place to start.

[PERFECTBUYZ]

Yes I agree. I have been selling on Ebay for a while now 100% feedback no disputes against me. No problems and now my money is being held for 21 days. makes no sence at all. I called paypal customer service no help at all. I was read the same topics I have already read. The worse thing is even if your payments are not from an auction but from a webstore they still hold the funds. This is crazy and frustruating. So now my money will not be release into Jan 30th even thought I have shipped to all my buyers.

Seriously how can Paypal and Ebay get away with this?

very annoyed

[20percentheld90]

I signed up for payflow to use them as a gate way for credit cards.  THEY are holding 20% of my sales for 90 days. on a rolling reserve.  the y have 14 thousand dollars being held.   

ON THE FLIP SIDE

i hav e heard of horror stories with out the 21 day old hold.   If you pick lets say. WII 2 years ago and started to sell them for $159 with out a hold. and someone sells 1000 in a weekend and deposits the money and withdraws from the bank in 3 days.  and ships nothing  he walks away with $159,000 or lets say $125,000.00

this is designed for that reason.

YES  the stories i hear are true.  and the seller who skipped had over 4000 in feedback.  at around 99 +

he wasn't selling WII i forgot what. i just used as an example

this system is not perfect,  but it works for now.