HORRIBLE IDEA TO HOLD FUNDS FOR 21 DAYS!!!

gearhed78
Contributor
Contributor

  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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mrs5pennies
Contributor
Contributor

I listed a few things on Ebay, but in the body of the listing, said "I DON'T ACCEPT PAYPAL"....DON'T ASK"

 

I explained further, saying that Paypal can hold a sellers funds for 21 days and that  they could possibly have to wait

for up to 27 days to receive their item.  I said I will not send out an item unless the payment is in my hands, nor do I want any buyer to wait that long.  I said I will accept checks and money orders only!  (Ebay made me remove the "money orders" - they tell ME what I can and cannot accept as payment for MY item).... GRRRRRR

 

I have had a lot of response....Today, one potential buyer thanked and became an actual buyer and is sending a check pronto.

 

One of my friends, who is on disability and trying to supplement his horrible income of less than $700 a month with Ebay, got a dispute from Paypal yesterday.  He had sent the item to the confirmed address and yesterday it arrived back at the post office saying it was undeliverable. It also came back damaged.  The buyer, of course, didn't want insurance on it.  The buyer told Paypal he hadn't received the item and emails to the seller weren't returned.  The buyer's money was refunded to him - including the shipping.  Now, my friend has a damaged item that was "undeliverable" to the address confirmed and provided by Paypal, and out the money he used to ship it.  Emails from the buyer???  Non existent.  FAIR???  I think not.

 

Like I said, I am putting a disclaimer in my listings.  If people want to buy my items, fine.  If not, the only thing I've lost is the listing fees.  But, I will not send an item before payment is received IN MY HANDS. 

 

 

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DIANN
Contributor
Contributor

  OKAY PEOPLE,  YOU NEED TO LOOK AT THIS FROM BOTH SIDES.  SELLERS & BUYERS.  I WON 2 AUCTIONS ON 12/08.FROM SAME SELLER.  TOTAL COST $14.00  I ALWAYS PAY THE SAME DAY.  NEVER GO THE ITEMS.  WITH A LOT OF RESEARCH, I WAS FINALLY ABLE TO CONTACT A REAL PERSON ON PAYPAL & EBAY.I NEVER REC;D THE ITEMS & CORRESPONDING WITH THE SELLER DID NOTHING. SO, 2 DAYS AGO, I RECEIVED THE MONEY.  I REALLY WANTED THE ITEMS FROM THE BIDS.  LAST NIGHT I GOT ONLINE TO SEARCH FOR THE STERLING SILVER HEADPINS.  EVERYTIME I CLICKED ON AN ITEM TO BID, I FOUND IT WAS THE SAME PERSON WHO **bleep**ED ME.  I TRIED A COUPLE OF THE SITES SOME OF OF YOU PEOPLE RECOMMENDED.  THE SAME SELLING ON THE OTHER SITES TO.  THEY THREATEN ALL OF US THEN THEY GO & ALLOW HER TO CONTINUE SELLING.  ONE OF YOU ASKED ME WHAT HER SELLING RATE IS.  SHE IS RATED 99.9 %. IT SHOULD HAVE GONE DOWN WITH MY MESS UP WHAT IS EQUALLY TERRIBLE, IS THAT WE CAN'T DEPEND ON THE WAY THEY RATE THE SELLERS.  IT'S THE CHINESE SELLERS THAT WE GET RIPPED FROM & EBAY WANTS THOSE SELLERS SO THEY REALLY DON'T CARE ABOUT US.

 

I WOULD LIKE TO START SELLING SOME OF MY JEWELRY & SILK SCARVES AGAIN.  BUT, DOING IT ON EBAY SEEMS TOO PROBLEMATIC.  I CAN'T AFFORD TO TIE UP SO MUCH MONEY FOR SO LONG BECAUSE I'M ALSO ON DISABILITY ..  I  FELL OFF THE ROOF OF MY RV. WE DO NEED  A DIFFERENT SITE TO SELL OUR ITEMS.

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lingo
Contributor
Contributor

Maybe with all this hoopla both Paypal and Ebay will remember there roots and the little people that made them what they are today. They need to go back to the early days when they were more user friendly without all the restrictions. Although I still sell on ebay I have also signed up as a founding member of OnlineAuction.com...It is a less expensive then ebay. They offer a low $8.00 listing fee...no listing or re-listing fees. No final value fees. The freedom to post personal website information with every listing and true competitive bidding where the highest bid win. According to the founder of this site they are there to enhance my business not control it like ebay has to some extent.  The only drawback I found with this site is that they are not as well known as ebay...amazon...craigslist...etc. Maybe with time!!!!

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paintedeagle09
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Contributor

I cant agree with you more! I sold a camera on ebay and it stated NO REFUNDS. So what does buyer protection have to do with that? On top of that I have attempted to contact the buyer around 4 times asking what he thinks of the camera and to please leave feedback. NO ONCE have I had a reply from this person yet paypal continues to hold my money. This is a bunch of bull!

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wizzin
Contributor
Contributor

So how long until the scam swings the other way?  How long until buyers realize all they have to do to get free stuff is pay for the item with paypal and then leave negative feedback or claim they haven't received the item?  What then paypal? 

 

I think I'm going to buy a playstation 3.  I've wanted one but haven't felt like dropping the money on one.  With this new 21 day buyer satisfaction guaranteed deal with paypal though, I can just buy the PS3 and claim I never got it and paypal will refund my money.  I'll shaft the poor sap that sent me the unit even further by leaving him negative feedback too.

 

Real good strategy paypal.  Was this dreamt up overnight?

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madjen
Contributor
Contributor

Hey wizzin your right! I didn.t even think about that aspect,

but there are plenty of scammers out there like sharks

circling prey, just waiting for opportunities. One of the

problems I am having is finding a place to sell. Nothing

is selling for me on ebids and I need the extra income.

I hate the thought of going back to ebay, but its looking

pretty dismal and I may have to go back out of necessity.

Anyone have any hot auction sites????????

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mparent
Contributor
Contributor

Well guess what?  This latest brilliant Paypal move just provided more bait and added more sharks!  Now all an unscrupulous buyer has to do is bid, win, and then state he is not happy with the item for ANY reason.  Then paypal takes it upon itself to return money that the seller never had any control over and there is nothing in place to see thet the seller's items are returned.  NOTHING!  This has opened a pandoras box af new scams and a brand new avenue for scammers.  guess there just weren't enough before for paypal!!!!!

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lingo
Contributor
Contributor

I too am becoming more and more disenchanted with ebay...I found OnlineAuction.com cheap cheap cheap compared to ebay

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Upset
Member
Member

Paypal is out of control.

I have now had my funds held for 21 days, the buyer has stated they received the item but I still dont have a release yet. 

 

But that is not what makes me upset (or not the basis of my anger)

 

Ive been with paypal for over 7years, no problems

Ive been with ebay for over 10years, no problems, 100% rating with about 450 rank

I dont even mind a few day hold, but 21 days!  Paypal collects interest on OUR money for these 21 days and then does not even release when the buyer clearly states they have received the item.

 

If paypal wants to hold our monies, then they should pay interest for the 21 days, even if its a few cents or a few dollars, it adds up.

 

Bottom line, this new policy will hurt everyone.  I for one will use ebay/paypal much less due to the new policy (can they really afford to lose customers in this economic environment, then they will need to pass the lose of business cost onto those using their services, then customer must spread the cost to the buyer....bottom line, ebay/paypal lose, seller lose, buyer lose.

 

Come on paypal is this really worth protecting yourself for the <1% of transactions which go bad?

 

 

Signed

Long term 100% rated customer -- VERY unhappy

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Qwelldrin765
Contributor
Contributor

Upset lets get to the nitty gritty, paypal hold your funds for 21 days, another 1 day for the funds to be released, 2-3 working days to hit your account.

Now I recently transferred funds from paypal to my bank account and it sat "Pending" for 48 hours before it was released and marked as complete. The back received funds in 5 working days after the original withdrawl to bank was made so...

the seller if they are lucky gets the funds in 27 days (As long as it doesn't fall over a weekend) has anyone else had problems removing funds from their accounts recently? So if it was a intrest thing then they recieved an extra 3 days of intrest on my transactions how many other people is this happening too.

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