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!

[BOOMBOXSTUDIOS]

HORRIBLE!

By far the greediest thing ever!

I remember wen i 1st used PayPal and thought how great was this service! Now this **bleep**! its totally in favor of the "BIG GUYS" smaks the little dudes that made them big in the 1st place!

Im leaving too! PEACE!

[Brian1955]

I just spoke with paypal today and they have instituted a new policy where they hold payments for up to 21 days for  all sellers who sell less that $20,000, yes 20k!, in every 3 month (90 day) period!  I couldn't believe this, I have sold for 12 years on ebay, have over 1600 positives, 100% positive, 4.9 or 4.8 on all seller ratings, and paypal told me today that payments to me will be held for up to 21 days!

I actually have a recording of my conversation with paypal, where the paypal rep (Kate) discusses the new policy, she clearly states the new 20k pending policy, and she says she read the new policy in a memo that came across their computers on Dec 30 09.  I said that the 20k criteria is not listed on their "pending payments" webpage or on their website anywhere, she had no answer to that....  

The paypal rep also claimed that they make zero interest off of the funds that they hold; I'm WAY skeptical about that....!

Ebay and paypal are no longer a "little guy" friendly community.  It's all about the big sellers and store fronts....  It's too bad.  

PASS THIS AROUND!!!!!!!!  

[butterbean]

I am so **bleep** off that I am unable to print my shipping labels to send to my customers.  We are trying to run our small businesses here but are being treated like criminals.  Am I so stupid that I can't figure out that I should set aside some money in case one of my customers is dissatisfied and wants to return something?

What are we supposed to do? Go stand in line at the post office and individually mail each package then wait a month for the money to come through? I can't believe this.  Surely there are enough of us sellers on Ebay who are doing well, running our own businesses and we can Handle our own accounts.  Who passed this dumb idea?

[riversedge]

I am done with Paypal for good because they are holding nearly $4,000 of mine, earning interest, for 21 days.  I NEVER would have told the ebay buyer to use Paypal if i had known about this.  If there are any class action suits in the works, please post the information about them here. I will never use Paypal again, and I have instructed my more than 1000 customers to avoid them as well.  If they each contact another 1000 with whom they do business we can shut these crooks down once and for all.

[temp_07012011]

I have been using paypal since they started.  What kind of crooked **bleep** is this????  I do not remember receiving an email about holding my funds.  THIS IS BULL**bleep**!!!!!!!!!!!!!!!

[greedcorrupts]

It gets worse!!! Not only are they now holding money for 21 days, but god forbid if anyone does have a problem. This is a true story...I have/had a 100% satisfaction rating and have been on eBay since 2000. I sold a poweramp to mario castonelles in Austin Texas for $480. When he received the item, he found that it didn't have a feature he was looking for and sent it back. EXCEPT he didn't double box like I had and he put almost no packing materials in so that it was badly damaged when I got it back. I got an estimate for the damage and it was $280 to fix. I tried to work out a deal with him but he just went to PayPal and lied saying that I had not sent him the product I had listed on eBay. PayPal withdrew the $480 from my account and the $55 dolars for shipping. I submitted photos, a police incident report, and the damage estimate. They denied the appeal saying something like the forms weren't in the format as requested!!! I have endured all the scam artists on eBay and PayPal for years and no one has ever come to my rescue or done anything about the guys who set up an account bid on your item at the last second and then try and pay you with a money order from Taiwan!!! I'm done with eBay and I'm done with PayPal. Just another corporation out to **bleep** the masses! They can't hold or take our money if we stop using them. Good luck everybody!

[copshop468]

The same exact thing happened to me with a rare classic gas tank. They disregarded all the photos, logic, etc., and gave back the money & shipping and I got a ruined gas tank back.  No more PP or Fleabay for me. I am done.

All should join the class action at  letssuepaypal,com 

[Boycott_EBAY]

Same thing happened to me, after 2 years of flawless service and feedback, they treat you like a criminal.

I told EBay to shove it and I'm going to refund the buyer's money.  Now, we'll both be disappointed, thanks EBay! 

I thought that people sell on EBay because they are short on cash...hope you can wait.

Craig's list...no fees!

[LadyButterfly27]

THIS IS SUCH BULL!! I USE EBAY TO GET ME THROUGH THE MONTH CUZ I'M DISABLED. I ONLY SELL VERY SMALL THINGS TO HELP ME BUY GAS, FOOD, MEDS, ETC..STUFF I NEED TO HELP ME GET BY. HOW AM I GONNA SHIP NOW WHEN I CAN'T GET THE MONEY TO MY ACCOUNT TO SEND IT OFF WITH? I THOUGHT ABOUT PUTTING IN MY ITEM DISCRIPTIONS THAT THEY CAN SEND ME A MONEY ORDER IF THEY DIDN'T WANT TO WAIT THE 21 DAYS PLUS TRANSFER TIME, BUT EBAY POPPED UP A VERY UGLY RED MESSAGE SAYING THAT THEY DROP ITEM THAT MENTION MONEY ORDERS. I CLOSED ALL MY AUCTIONS AND I WILL NEVER SELL THERE AGAIN! AND AS SOON AS I GET SOME ITEMS I ORDERED I'M CLOSING BOTH MY PAYPAL AND EBAY ACCOUNTS. EFF EM BOTH!!!!!!!!!!!!

[Terminusvitae]

So, if I understand correctly, the pending funds can't be used to pay for a shipping label, correct?  If so, both I and the buyer are completely hosed, as I've been laid off for so long that all of my assets are completely emptied, and I literally do not know where my next meal is coming from.

What benefit can there possibly be to this kind of policy?  And why hasn't anyone asked blog writers and commentators to write hit pieces on Paypal's business practices?  There are many, MANY of them who would jump at the chance to do just that.