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!

[bigb13]

has anyone gotten the hold off before the 21 days are up? i need that money this weekend and it is suppose to be release until the 31st. i emailed them and i am just wondering if the hold will be up by then.

thanks

bigb

[saintrex176157]

You will need to have verification of item received by buyer, by e-mail or by whatever delivery system you used.

Then call them and tell them the info and request your money . I did this and the guy released it in 30 seconds.

They are depending on people waiting the 21 days and not calling becasue its a hassle for the seller.

The pay pal number is -----**removed**

 I'm not sure how hard it is to get thru sometimes, but if you have your transaction completed, call paypal!!

Good luck, let everyone know how it worked out. As for me I will NEVER EVER use paypal again due to this unethical business practice

[mparent]

You would not beleive the negative response and outrage to this all over!  PLEASE PLEASE PLEASE  Report this.  To everyone you can.  Better Business, federal trade commission, senator, congressman, we have a really good start on this.  We seriously CAN win this!!  This is officially illegal!!  But we need response.  If we don't get it, they get away with it.  If we all just walk away,  then they can just wait out the storm with their present resources and start a whole new generation of users who are getting raped and don't even know it!!

[femsol]

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@mparent wrote:

You would not beleive the negative response and outrage to this all over!  PLEASE PLEASE PLEASE  Report this.  To everyone you can.  Better Business, federal trade commission, senator, congressman, we have a really good start on this.  We seriously CAN win this!!  This is officially illegal!!  But we need response.  If we don't get it, they get away with it.  If we all just walk away,  then they can just wait out the storm with their present resources and start a whole new generation of users who are getting raped and don't even know it!!

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Hi mparent:

You are preaching to the choir here--I have been saying the same thing over and over and will start a new thread someday this afternoon--about What to do now.   We have to make noise and I suggested that people cut and paste their posts from here and start blanketing the same agenies and people you mentioned including the SEC as well.  One member mentioned the politician who is running for governor and was the former President of eBay--I thought her opponent should be privy to this information--I will have to check up on this race and may have some political ally's in DC to ask for ideas. 

I keep saying be as vocal to the outside world by way of blogs, emails, BBB, newspapaers, twitter, facebook-in fact if someone has not already done this we need to start a Letssuepaypal FaceBook page now that many of us are registering on the class action site Letssuepaypal.com.

Thanks for continuing the message.  If we roll over we let them win again.  I am finding so many other places to sell and with merchant accounts.--I have paymate in place and selling on overstock auctions right now and Craig's list locally which is working great.

As an aside--I received a notice from eBay that I still had a balance due to them for my December fees.  I have replied that due to the recent changes in Paypal owned by Ebay that my TOS have changed and they will have to wait 21 days for their fees so that I may ensure I have been properly paid, without disputes and all of funds accounted for before they will be paid. Can't wait for that response--although they will probably just try to get it from my bank account which I closed and reopened with a new account number and the credit card on file is expired.

 Right now I have a seller that I purchased a DVD from at Christmas and he never sent the DVD.  I went to contact him to find out that he is no longer a registered memeber.  This is only $8.00 fortunately  but I could have purchased this and had it by now through Amazon.  Now if this policy about protecting the buyers is true then that is a smoke screen for in filing a dispute with eBay and Paypal I have been told to contact the buyer myself and then they will step in.  They are lying out of both sides of their mouth--I should have had my funds refunded to me immediately if as they say they are here to protect the buyer.  In this case I am the buyer and have nothing.

[Stormster]

I have been stressed all week waiting for my buyer to receive her shipment so she can give feedback and release my  hold. I am shocked Paypal did this to us, they have been great about everything in the past. Well she received the item yesterday and paypal sees that through that so called "watch" they said they will do and funds are still not released. I have never done paypal wrong and have had them handling up to $30, 000 of my money at a time and this is how i get treated? It's not worth the stress to me and if they dont undo this really bad idea, they will lose me also.  Thanks for listening. folks

[madjen]

Ok everybody, I just got a message from paypal saying, because of

your consistently good ratings, your hold as been lifted. Oh...really?

You can kiss my bleep!  I had 100% feedback and over 1400 pts and

a DSR above 4.5 when this started!!!!!!!!! I had to close my store,

cancel my Christmas and go seek out new places to sell. I lost money,

a lot for me, I'm disabled and in pain, but oh now THE GODS HAVE

SPOKEN! No, they are WORRIED!!!!!!!! There has been a dent in

there balloon caused by us, everyone here that has spoken up and

taken action!~

I haven't sold a thing on ebid yet and I have been depressed over this

whole thing, but why did they do it in the 1st place? I was one of the

1st to have a hold placed on my account, at this late point a pat on

the head just doesn't get it.

[Ausarun]

I agree. Ostensibly, the hold is for buyers' protection but I have purchased a service through PayPal that I never received and PayPal simply ignored my dispute. Result- NO REFUND.  PayPal also claims to offer SELLERS' PROTECTION but I have been stung by a buyer who gamed the system.  The bottom line is that it is UNFAIR for sellers to depend on POSITIVE feedback from buyers in order to received compensation for the goods that the sellers have sold and shipped.

[KarmaGirl2]

OMG! TELL ME I'M NOT HEARING THIS"

[jacqueline3115]

I agree... in this day and age with ACH and automatic money transfers it is insane that any financial institution would need to hold our funds for 21 days.... 21 days! This is criminal! There is no justification for holding funds for such an extremely long period of time.

This policy needs to be changed. It hinders operations of shipping. I will be in search of another option or just stop using Ebay and PayPal all together!

[gifts4allevents]

I just learned of this Pay Pal rule. Is this legal????? Who gave Paypal  the authority to hold my money for 21 days while they make interest on it. Think of the millions of dollars they are holding and earning interest on for 21 days while their customers spend their mone to purchase shipping boxes, materials and shipping cost. This is not right.