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!

Login to Me Too
6,286 REPLIES 6,286

7yearseller
Contributor
Contributor

Yes, having to wait on buyer feedback is WRONG. Why do PP and eBay not know some buyers simply don't leave feedback no matter how great the transaction. To many it is just a purchase like any they would make on the Internet and they don't see the need. I have had 9 buyers in the last almost a year not leave fb. I remind. I ask again, but I then leave it alone for fear of rec'g negative fb for asking for a feedback.

 

Is this maybe the reason PP is now holding my $$ for 21 days plus the 3 they state a buyer needs to file a claim. GET REAL!!! Giving the buyer time to allow them to file a claim? What are we, guilty of not sending the correct item or a broken one until proven innocent.

 

Oh, yes, BTW, that reminds me that while looking through this situation today, eBay by their very words on filing a claim state to buyers they can file a claim if the item arrives broken. Why am I spending my money insuring each item I sell and ship if the buyer can file a claim when the carrier breaks something? What is wrong with their thinking? So, the buyer not only files a claim that an item is broken (if it is really when they receive it), then the seller has a claim against them, has to refund the buyer the money, buyer keeps the "broken" item, OR  SELLER PAYS for shipping the now broken item back to themselves. Does this sound like the way a company like eBay would run their own financial business. No, but they will allow ours to be run by them this way.

 

Does anyone else here think we are "employees" of eBay without benefits?

 

In all of this reading I have done, I also found out that a seller can sell perfectly for a long time in a category and be okay. BUT if that same seller decides to offer something new in a different category, PP puts the hold on their $$ paid to them "because this is new to the seller and PP has no history of how the seller will pay with a new item in a different category".

 

Did you also know that if we take some time off and then come back, we would have a "spike" in sales (of course). This is another indication (?) to PP and eBay we may be having "financial problems" so they put on that hold.

 

This means we can not take time off, we cannot have a vast increase in sales or decrease and then increase as this alerts them to "something being amiss".

 

I thought this was a sales venue not our CFO and board of directors deciding when we can and cannot be paid right away for our sales.

 

Oh, yes, they also do let us use the funds to pay for shipping only, but since they only offer UPS and USPS, they state this is a reason for hold on funds. We should be using only the ones they receive percentages of the shipping. I knew something was not right when I received a letter from the USPS and in that letter was something from AOL. Now, if AOL can get the USPS to put something in their mail, don't you think eBay has some power with them?

 

Bottom line, I have sold for 8 years, no problems to speak of except the usual with buyers who don't understand eBay. Now, PP is holding my $. I cannot, without the money paid for what is sold, buy new things to sell. I also sell larger furniture which requires shipping other than with UPS or the USPS. This means eBay can't get their 12 percent on the shipping and that likely has something to do with using UPS or the USPS as a way to prevent our $ from being on hold. They say also to ship faster. They must not know we have to pack and we can't make trips daily to the carrier because of fuel prices. I don't know about you, but it bothers me to receive an email from eBay reminding me to ship something someone purchased a couple of days ago.

 

Did you also know that eBay limits the shipping you can charge on some items even if our shipping is higher? Yes, I did read that. And they also state they are charging the FVF on shipping now to help lower shipping costs. SURE, they are !!!! I haven't been able to convince the post office that eBay wants us to lower their prices, have you? Just kidding !

 

Because of this hold I now have after 8 years of being the 'dutiful', politically correct, nice seller who does all I can do to make my buyer's experiences good ones and with 8 years of not getting in bad graces with eBay or Paypal, I now find myself in the position of not being able to sell using Paypal as the method of payment. I have to have my money before 30 days passes. 21 plus 3 plus 4 for transfer to my checking. Almost 30, may as well be with weekends.

 

Sadly, eBay only allows "certain" electronic payment methods, and do you think probably they own all of them?? No longer can we offer any other method other than electronic and with eBay owning Paypal, we just are trying to stay open using all of the rules of the "monopoly larger than the telephone company ever thought to be" Seems like our country would not allow this kind of monopoly, but then eBay is "a private sales venue" only. SURE THEY ARE !!!!

 

Thanks for reading this. The 'facts' I have shown can be found in eBays "insurance policy like information". Just how many employees do you think it takes to dream up some of the things to chain us down more and more???

 

Now, do you think the eBay "advisor" is going to allow this to stay on here or will this seller be punished. Probably, since it seems I am in their sites now as a target. Too bad since this income has for a long time supplemented my income and now my SS. but no more. You watch, if I find another source for rec'g payment that is not owned by 'big brother', they will buy them.

Login to Me Too

Raveninred
Contributor
Contributor

@7yearseller wrote:

Yes, having to wait on buyer feedback is WRONG. Why do PP and eBay not know some buyers simply don't leave feedback no matter how great the transaction. To many it is just a purchase like any they would make on the Internet and they don't see the need. I have had 9 buyers in the last almost a year not leave fb. I remind. I ask again, but I then leave it alone for fear of rec'g negative fb for asking for a feedback.

 

Is this maybe the reason PP is now holding my $$ for 21 days plus the 3 they state a buyer needs to file a claim. GET REAL!!! Giving the buyer time to allow them to file a claim? What are we, guilty of not sending the correct item or a broken one until proven innocent.

 

Oh, yes, BTW, that reminds me that while looking through this situation today, eBay by their very words on filing a claim state to buyers they can file a claim if the item arrives broken. Why am I spending my money insuring each item I sell and ship if the buyer can file a claim when the carrier breaks something? What is wrong with their thinking? So, the buyer not only files a claim that an item is broken (if it is really when they receive it), then the seller has a claim against them, has to refund the buyer the money, buyer keeps the "broken" item, OR  SELLER PAYS for shipping the now broken item back to themselves. Does this sound like the way a company like eBay would run their own financial business. No, but they will allow ours to be run by them this way.

 

Does anyone else here think we are "employees" of eBay without benefits?

 

In all of this reading I have done, I also found out that a seller can sell perfectly for a long time in a category and be okay. BUT if that same seller decides to offer something new in a different category, PP puts the hold on their $$ paid to them "because this is new to the seller and PP has no history of how the seller will pay with a new item in a different category".

 

Did you also know that if we take some time off and then come back, we would have a "spike" in sales (of course). This is another indication (?) to PP and eBay we may be having "financial problems" so they put on that hold.

 

This means we can not take time off, we cannot have a vast increase in sales or decrease and then increase as this alerts them to "something being amiss".

 

I thought this was a sales venue not our CFO and board of directors deciding when we can and cannot be paid right away for our sales.

 

Oh, yes, they also do let us use the funds to pay for shipping only, but since they only offer UPS and USPS, they state this is a reason for hold on funds. We should be using only the ones they receive percentages of the shipping. I knew something was not right when I received a letter from the USPS and in that letter was something from AOL. Now, if AOL can get the USPS to put something in their mail, don't you think eBay has some power with them?

 

Bottom line, I have sold for 8 years, no problems to speak of except the usual with buyers who don't understand eBay. Now, PP is holding my $. I cannot, without the money paid for what is sold, buy new things to sell. I also sell larger furniture which requires shipping other than with UPS or the USPS. This means eBay can't get their 12 percent on the shipping and that likely has something to do with using UPS or the USPS as a way to prevent our $ from being on hold. They say also to ship faster. They must not know we have to pack and we can't make trips daily to the carrier because of fuel prices. I don't know about you, but it bothers me to receive an email from eBay reminding me to ship something someone purchased a couple of days ago.

 

Did you also know that eBay limits the shipping you can charge on some items even if our shipping is higher? Yes, I did read that. And they also state they are charging the FVF on shipping now to help lower shipping costs. SURE, they are !!!! I haven't been able to convince the post office that eBay wants us to lower their prices, have you? Just kidding !

 

Because of this hold I now have after 8 years of being the 'dutiful', politically correct, nice seller who does all I can do to make my buyer's experiences good ones and with 8 years of not getting in bad graces with eBay or Paypal, I now find myself in the position of not being able to sell using Paypal as the method of payment. I have to have my money before 30 days passes. 21 plus 3 plus 4 for transfer to my checking. Almost 30, may as well be with weekends.

 

Sadly, eBay only allows "certain" electronic payment methods, and do you think probably they own all of them?? No longer can we offer any other method other than electronic and with eBay owning Paypal, we just are trying to stay open using all of the rules of the "monopoly larger than the telephone company ever thought to be" Seems like our country would not allow this kind of monopoly, but then eBay is "a private sales venue" only. SURE THEY ARE !!!!

 

Thanks for reading this. The 'facts' I have shown can be found in eBays "insurance policy like information". Just how many employees do you think it takes to dream up some of the things to chain us down more and more???

 

Now, do you think the eBay "advisor" is going to allow this to stay on here or will this seller be punished. Probably, since it seems I am in their sites now as a target. Too bad since this income has for a long time supplemented my income and now my SS. but no more. You watch, if I find another source for rec'g payment that is not owned by 'big brother', they will buy them.


You "read" these facts?

 

 Where.

 

Links.

 

Cite.

 

Cause I've just spent my head in every legal document of e-bay and PayPal for the last three days and I didn't read any of that, NOR did I read that eBay or PayPal owned any of the alternative payment sources offered, as you just claimed. Nor is that little nugget true in the LEAST, if you go out and research in the financial news and trades.

 

And you're reading old information on PayPal  or something because none of what you said about "spikes" or "different categories" works at all, expecially if you read the updates to the agreements on the Legal Agreements page of EVERY USER's account.

 

So, I'd very much like to know exactly WHERE you're getting YOUR information. Cause I can provide links to mine. And it doesn't jibe with yours.

 

In the least.

 

Raven

Login to Me Too

EvoDud3
Member
Member

I'm annoyed and **bleep** off now. It's been 2 weeks and still my money is still on hold and the dam buyers not giving a dam feedback. I also emailed paypal and still no reply. They don't get it... Some times why we sell is to have some money for something else.

Login to Me Too

ashlyn
New Community Member

Finally called up PayPal to see what I can do about my rolling reserve, come to find out I'm at 30% for 180 days!  I think I'm left with no other options but to completely stop selling on eBay.  I'm going to contact my state's Attorney General to see what information I can find on this.

 

At the very least, they should have to pay us interest on the money.

Login to Me Too

adkoutfitters
New Community Member

Does anybody know how long paypal will hold the $5000 minimum reserve if you no longer want to use your paypal account and wish to close the account?

Login to Me Too

workingforyou
New Community Member

Imagine having them hold $11,000 of your money and never getting an explanation. Either way...they have told me once you close the account, a check will be sent to you after 181 days.

Login to Me Too

ashlyn
New Community Member

What is a rolling reserve?  Out of curiosity.

Login to Me Too

workingforyou
New Community Member

i AGREE..TOTALLY ILLEGAL. THEY HAVE 11,000 OF MY MONEY AND NO EXPLANATION AS TO WHY. EVERY TIME I CALL THEY TELL ME SOMEONE WILL RETURN MY CALL...NEVER DO. SOMETHINGS NEEDS TO BE DONE. HOW CAN THEY LOCK UP THAT MUCH MONEY AND WHY $11,000 OUT OF ANY AMOUNT.

Login to Me Too

PayPal_Andy
Moderator
Moderator

Hey all, I merged a couple of topics since they both refer to reserves.  I completely understand what you're saying; situations involving money are always difficult, especially when someone tells you you can't get at what you've made. 

 

Here's what reserves boil down to.  With the way the economy has been fluctuating, small businesses have a high tendency to fail. That's just the world we live in now.  If something should happen to your business and you can't fulfill your orders and your business model fails, reserves are mainly there to protect you. I know that's hard to believe, but it's true. Here's why.

 

Say you are selling high end electronics, something that's really hard to get. You've sold thousands of dollars worth of items, then your supplier falls through. Suddenly you have disputes coming out your ears and your PayPal account is thousands of dollars negative because you've used those funds for... I don't know. Mortgage payments? Things like that. So at this point you owe thousands of dollars and may have serious issues repaying that. I'd say we could consider the business, regrettably, failed. 😞

 

Here's where the reserves help you. Rather than you trying to get a loan from a bank or having a gigantic negative balance effect your credit, we apply your reserves. Suddenly, the debt is more manageable if not gone all together (as we attempt to base those reserves on the risk your business model presents).

 

These are just some of the issues reserves attempt to address. I know that they're an imposition and in some cases cause you to bear more of the financial responsibility of your business (i.e. you purchasing what you're selling before receiving payment for it). I'm not sure that anyone likes having money that they can't get to. You can search the boards and find all sorts these types of situations. We certainly don't like the fact that we have customers that would rather not use PayPal because of this. But to minimize everyone's financial risk (yes, PayPal included), this is what we have to do.  For more information, you can refer to section 10.7 of our User Agreement for more information.

 

Andy

Login to Me Too

tru_gritt02
Member
Member

So.... what your saying, Paypal_Andy, is that paypal believes that its customers are unable to run their own businesses, save their own money in their SAVINGS ACCOUNTS, and bail themselves out of a jam, should that day ever arrive.

I believe my mother used to take a percentage of my babysitting money, and "hold it" for me.... "just in case".

 

WOW.

thanks for filling us all in.......Smiley Very Happy

 

 

Login to Me Too

Haven't Found your Answer?

It happens. Hit the "Login to Ask the community" button to create a question for the PayPal community.