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!

[femsol]

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@surplusdealdude wrote:

Spoke with lawyer, he is willing to file class action suit if I can get people together.

Translation - he's willing to earn a lot of fees filing a motion that he doesn't think will succeed.

You have to have similar problems, SPECIFIC similar problems, to get a class action suit going. 

All you're going to do wit this guy is give him a list of emails to peddle to some spammer.

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OK Suplus dude who thinks he knows everything about everything and is only on here to push buttons and discourage us--you must really be hard up for a life.

I was not going to respond to your sh** however this time you hit home with this lawyer now a legal consultant.

I posted earlier on in this forum when someone said basically the same thing you have posted.  Let me enlighten you.  A class action attorney will perform his due diligence and needs specifics from each individual in a class.  IF he or his firm decide to take this case they do so on a contingency fee basis--35-40% on the average--but guess what that lawyer or firm pays all of the costs involved. There are no fees to us as Plaintiff's and the lawyer will only recoup his expenses if and when the case is either decided in court and appeals or a settlement is reached. 

Therefor no attorney is going to front that kind of money or invest the amount of time unless he believes he has a very good class action suit.  If the class action fails in court and is dismissed the lawyer loses all of his expenses invested.  So tell me again how this lawyer would be getting rich on a  Bill of Complaint (not a motion) to begin the law suit if he did not think there was the potential to get a good actual and punitive damages award.

"Translation - he's willing to earn a lot of fees filing a motion that he doesn't think will succeed."

Go read the past 90 pages of posts. There are plenty of specifics and a lawyer would most certainly be able to frame the cause of action to substantiate the suit as there are similarities.

Speaking of class action suits one was just filed against FreeCreditReport.com for deceptive advertising among other things and a class was pulled together from all areas of the country which is much harder than a class action against eBay/Paypal

In case you are interested this is the link to a Huffington Post article and in there is the link to the actual law suit.

http://www.huffingtonpost.com/2010/02/04/experian-sued-for-its-dec_n_449098.html

It costs nothing for us to register on www.Letssuepaypal.com or email  bayoubasement at msn . com who is also talking to a lawyer about a class action and she is helping to get names as well.

[pfannkuchen]

What paypal is doing is totally illegal, I wonder if all your shareholders know what is going on. First of all your are violating the Electronic Funds Transfer act and second your are factoring. Look it up what it means. I have already contacted all the necessary agencies out there and the media. Everybody needs to know what kind of shady business you are running. No wonder you are freezing so many accounts because you are collecting millions of dollars in interest on our money, which is by the way fraud. As soon as my funds are released, I will close my accounts with **bleep** like you. I do not care if I am violating your posting rules, this is a free country and you are violating my constituion. There is already a possible class action suit going on, and this is no bull either. I do hope somebody is putting you out of business. I never thought I was getting caught up in all your **bleep**, I have been a buyer and seller for 8 years and never had to deal with something like. There are enough whistle blowers out there, if you read some off the stuff they are saying, we all wonder why we ever did business with a shady outfit like Paypal who doesn't care at all, who give a **bleep** about us and hires incompetent people who probably can read and write and have to outsource to India. Welcome to the Greed!!!!!!!!!

[pfannkuchen]

Everybody out there, write to you Stater Attorney General, complain to the FTC, FBI, BBB, go to the media, let the whole world know what is going on.

[JIMS_STUFF4U]

Not only are they holding the payment but I had a available Balance of $30. in the Pay Pal account, sold something for $70. paid $10.20 for Postage and they took the $10.20 out of the $30. so my available balance is now 19.80.

If I had a available balance of zero wouldn't the $10.20 postage come out of the $70. sale?

So now I have less money than when I started. and have to wait till the feedback thing happens or 3 days.

Damm I rember back a few years ago I would sell something then the day I got paid I would go to the ATM and get my Money that day with the Pay Pal Debit card.

Just wondering if you don't use paypal, how can you get paid other than the check method?

[OurOnlineDeals]

Quite frankly what PayPal is doing is illegal. They are a payment processing center... period. They do not have the right to hold people's monies in any sort of escrow account, which is what they are doing. No financial institution is permitted to do this. An escrow account has to be established by the person(s) who's monies are involved. PayPal processes millions of dollars annually and I agree with everyone that believes they are accruing interest on all of the monies being held for any period of time. PayPal is going to end up being investigated and prosecuted by the federal government eventually but in the meantime they are reaping a huge interest amount on other people's monies. PayPal has redefined the word greed!

[diamondesires]

He is not agreed to take the action, but to look in to it. I will give my address, phone and info to anyone who beleaves this is email scam. If you are ok with whats happening to ebay and paypal then move on and conform.

[linkngear]

I've spoken to 3 different paypal reps about this policy of holding money from ebay transactions until they can verify that the sale has gone well.  As a long time/reliable seller, I do not meet any of the criteria for having funds placed in this status and yet it continues to go on.  Evidently my 7 year old Mountain Hardwear jacket or my Nike hybrid golf club falls into what is considered "high risk" items, though I've never had any buyer file a claim with ebay or paypal regarding authenticity?  Only one of the 3 reps dared to try to convince me of this.  Curious if I'm the only user who is less than thrilled with this practice? 

[kevin2341]

Today I got an email from paypal saying my payments are going to be placed on hold for 21 days why?? I have just started selling things on ebay but have been a member of ebay since 2008 and have 100% positive feedback. The 1 item I have sold on ebay also got positive feedback from the buyer so why all of a sudden do I have to wait 21 days?? This is really inconvenient for me since one of my items will sell in two days and I won't have money to ship my item without the buyers payment??

[vintagestuf]

I HAVE THE SAME PROBLEM SUDDENLY. I HAVE CALLED PAYPAL SEVERAL TIMES AND HAD SUCCESS IN HAVE PART OF THE HOLD RELEASED SO I CAN MAIL MY ITEM PROMPTLY SEVERAL TIMES.  THE CS REPS ACTUALLY UNDERSTOOD THE PROBLEM. THEN A FEW WKS. AGO I CALLED, WANTING 15. OR 20.00 RELEASED SO I COULD MAIL 4 OR 5 ITEMS--ALL SMALL TICKET SALES AT THAT.  I GOT NOWHERE! ASKED FOR A SUPERVISOR TO PHONE ME.  HE CALLED THAT EVENING AND WAS ABSOLUTELY RESOLUTE ABOUT NOT RELEASING A DIME.  I TOLD HIM MY BACKUP ACCOUNT DID NOT HAVE FUNDS AND WOULD NOT FOR 10 DAYS, HE WAS CONDESCENDING AND UNSYMPATHETIC. I ASKED HIM TO NOTIFY MY CUSTOMERS THAT THEIR SHIPMENTS WOULD BE LATE!  HA...I

AFTER DEALING WITH EBAY FOR OVER 12 YRS AND ACTUALLY TEACHING OTHERS HOW TO BUY AND SELL, I AM SO FRUSTRATED. I USED TO SELL AS A HOBBY, IT IS NOW MORE OF A NECESSITY  NOT BEING A HIGH VOLUME POWER SELLER (10-15 SALES/MO) I HAVE NEVER HAD A CLAIM AGAINST ME AND RECENTLY HAD MY 1ST NEGATIVE FEEDBACK, ( UNDESERVED, THE BUYER NEVER EVEN CONTACTED ME, I STRIVE FOR CUSTOMER SATISFACTION AND HAPPY NEW HOMES FOR OUR ANTIQUE TREASURES!!!! ) AT ANY RATE, RUINING MY 100% RATING, DOWN TO 94.6%!!! . I DO NOT FEEL THE EBAY POLICY AND SELLER DASHBOARD IS EQUITABLE- LOWER VOL. SELLERS ARE SUFFERING.. THOSE WHO SELL 1000 ITEMS A MONTHS CAN STILL KEEP A FAR HIGHER RATING WITH PERHAPS 40-50 OR MORE NEGATIVE FEEDBACKS A MONTH & NO FUNDS HOLD--AMAZING!  ONE NEG. FEEDBACK AND A FEW LESS THAN 5 STAR DASHBOARD RATINGS WILL TAKE AWAY FROM ME SOMETHING THAT HAS TAKEN YEARS TO BUILD UP AS WELL AS DENIGRATING AN HONEST REPUTATION.   IT TAKES SO LONG TO ACCRUE 100+FEEDBACKS! 

PAYPAL SENT ME THE FUNDS HOLD NOTICE ABOUT 6 WEEKS AGO AND I THOUGHT, WELL NO PROBLEM.  THE FAQ IN THE HELP MENU EVEN STATES THAT HELD FUNDS CAN BE UTILIZED FOR SHIPPING COSTS.  UNTRUE!  I POINTED THIS OUT TO SEVERAL CS REPS,  WHO HAD NO IDEA THEIR FAQ  STATED THAT. DON'T KNOW IF THEY HAVE CHANGED IT SINCE....

I ALWAYS ADD TRACKING INFO ETC ETC AND HAVE MY MOST RECENT HOLD STILL ON, EVEN THO ITEM WAS DELIVERED 6 DAYS AGO!!!  WILL HAVE TO START STOOPING TO BEGGING FOR FEEDBACK??  MAY AS WELL STAND ON THE STREET CORNER AND BEG FOR SPARE CHANGE--HOW ABSOLUTELY DEGRADING!!!!

AM INTERESTED IN HEARING WHAT SOLUTIONS MAY BE IN SITE, I FOR ONE AM USING CRAIG'S LIST ETC MORE AS WELL. THIS STUFF HAS TAKEN ALOT OF THE FUN OUT BUYING AND SELLING ON THAT HAS BEEN TO ME THE GREATEST AUCTION WEBSITE IN THE WORLD!:

smileymad:

[Becktoria]

I was very dissapointed with this new procedure.  I have been buying and selling for 11 years ... not a lot but I do have over 200 stars and 100% positvie feedback. I too needed the money to pay for shipping. I ended all other autions early since I had just listed them and will sell through Craigs list from now one too.

It's a shame. I was just starting to sell art items on ebay.