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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@BigTPoppa wrote:Can anyone tell me anything about Propay? Is it also owned by EBAY and PAYPAL? Or is it just owned by EBAY. It is the first time I ever saw this method payment today and it asked for certain information I was not comfortable giving.
BigTPoppa
I did some research on ProPay and check out this link: http://www.businesswire.com/portal/site/home/permalink/?ndmViewId=news_view&newsId=20100201005391&ne...
“As eBay’s first electronic payment method added in addition to PayPal and credit cards, we’re extremely pleased to be part of eBay’s New Buyer Protection program,” said Gary Goodrich, CEO of ProPay. “
It would appear that ProPay has been drinking the kool aid and embraces eBay's buyer protection--also known as scr** the sellers.
Since I have been following the financial and international news about eBay and the fact that PayPal has become so profitable through its acceptance by so many other merchants that it is predicted that it will spin out from eBay's control which could mean that eBay is lining up ProPay as the replacement for PayPal. Just a thought!
I think I opened an account with ProPay that I never used--if so consider it closed. I am enjoying googlecheckout.com. If PayPal does become independent I will return unless eBay prohibits them or requires PayPal to still hold funds for eBay transactions.
I just keep reading and researching and it is becoming increasingly apparent that this all leads back to eBay's policy and PayPal has no choice--hence we cannot get straight answers from PayPal. If you try to contact eBay about these holds they do not answer either and refer you to PayPal.
Catch 22!
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I just love eBay/Paypal's logic--holding seller's funds protects buyers. After 8 years of casually selling and buying on eBay I had a seller who I paid $8.00 through Paypal for a DVD and never received it. After 10 days I attempted to contact the seller directly however discovered that he was no longer a registered user. Interesting that this happened last week after we were all told about our funds being held to protect buyers. Surprise! As a buyer I filed a complaint with eBay but was informed I had to document the attempts I made to contact the seller before they would take action. I finally was able to file a claim. No action-no surprise! I then filed my compliant with Paypal--again same scenario--contact the seller first. Not able to since he is no longer registered--OMG--do I really have to keep pointing this out? Anyway finally was able to escalate this to a Paypal dispute and am informed that they have sent an email to the seller who has 2 weeks to respond before Paypal takes action. Conclusion? Obviously protecting buyers is certainly not what Paypal is doing by holding funds for if this were true I would have a refund of $8.00 by now. There is nothing at all about holding funds that is helping buyers or sellers--we are all equally being ***beeped***. (I beeped myself so Paypal does not have to put themselves out by policing these forums for "bad words")
Another thought that makes you go hmmmm--I have a good friend in France and she saves shipping costs by sending items to me and then she sends me cash through Paypal to send her purchases all at one time. I informed her immediately about this and apparently international sellers going through Paypal are not aware of this policy change. Any sellers who know this to be true?
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Just found out this policy the hardway. Can't ship without adding money as my funds are on hold. The fees they charge are not enough but now they accrue 21 days interest on all pending transactions? I have 100% feedback rating and have never had an issue, this is a joke. My business is done here. Maybe all the extra cash they are extorting from us will make up for the people who don't return to use their service. I'm sure the finance pin heads ran those numbers when they were whipping us this scam.
Good bye paypal.
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This is my money not paypal. I should have been told about this before using this bull....
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I have been an ebay member for 8 plus years and had to create a new user name and start all over due to a recent seperation. I am devestated that you are holding my funds that were paid to me for a product that i have already shipped. These new rules are a complete rip off. You no longer will let us use money orders to monopolize the market and maxmise your profits. I think i will just start using craiglist. Paypal is owned by ebay. and everyone is right. you got your name and recongnition by us small time users. Now that your big, you just need to weed out all the small time users that got your company started...I suggest everyone switch to craigs list...
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