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!

[lawyerjim]

I just sold about $3,000 on eBay. 

Money is now being held for 21 days. 

I got an invoice today from eBay stating that I have to pay $340 in 11 days.

Am I the only one that sees the problem here?

[karlynox]

This is the worst thing that can happen to a seller!  I have over 7,000 positive feedbacks, pay my account ahead of time, and still don't have access to about $1,000 of MY MONEY!!!  This seems like it should be illegal, or better spelled out in the user agreement.  They must've added it when I had not sold for a while, now I am having to use my own SS money to pay for my sales until they release my money to me a dribble at a time!  And Ebay and Paypal are the same company!!!!

[lawyerjim]

Nothing will change though until more people do as I have done: pull their items off of eBay and sell them elsewhere.  I now have several thousand dollars worth of electronics on consignment instead of selling through eBay.  They sell for more money, I don't have to ship them myself and THEY SEND ME MY MONEY ON TIME!!!!!

[pegasusjourney]

Genius!!!! I totally agree with you!

[signalman75]

"To speak to a Customer Service representative, log in to your PayPal account and click “Contact Us” at the bottom of any page.Thanks,"

I got this same reply to, but the CONTACT US doesn't work, it goes to a page with everything Grayed out. I could go no further.

[Kim29]

I have my PayPal account set up to receive money for my honeymoon and wedding which is less than 21 days away. I have never heard of a company doing something like this and it couldn't have happened at a worse time!! The only thing I sold on Ebay is concert tickets, which were emailed and the buyer was perfectly happy. What gives, PayPal?? As soon as my wedding is over I am closing my account, that's for sure, so frustrated....

[hosshunter]

I received an email from Paypal informing me that they will now hold my payments from buyers until they decide to give the money to me. I tried to get a specific reason on what I did wrong and all I get is the run around with a standard answer of it maybe this or that and means nothing. I have been with Paypal 7 years and have a 100% positive feedback. My buyers all say I have great contact and fast shipping. There is absolutely no valid reason for Paypal to punish me by holding my money until they decide to release it. To me it looks like Paypal wants to use my money for free to make money by collecting interest etc from my money. Paypal contact me and give me a very very specific answer on my case and my case alone to why you feel you have to punish me and keep my money for your use for free until you decide to give my money to me when I have done nothing wrong. I would understand if I did something wrong but I have not. I await your answer and contemplate contacting Ebay and other users of your service to file complaints against you for this abuse. Paypal is not the only service out there and if this is how you treat a person with zero complaints in 7 years with 100% positive feedback maybe they should look at a better service provider. I would suggest to other sellers with this problem with zero complaints and positive feedback to do the same if they can not get a straight answer to their specific case and not the standard answer of it maybe this or that.

[comicsetc]

I received a similar email from Paypal, even though I also have 100% feedback and have never had any dispute on Ebay or Paypal. How can paypal hold our money for 21 days? This is ridiculous.

[hosshunter]

It looks like to me they are going to make money by not paying us. They can use our money intrest free for as long as they want and make money by collecting intrest etc. How many thousands of people are they trying to cheat

[readuseragreeme]

If you read the user agreement (which you should of) prior to franticly clicking "Agree and Continue" (which im sure you did) then you would have known this could happen.  And when paypal made changes to that agreement concerning specifically HOLDS and the fact they dont have to disclose their risk assessment procedures to you---again you went right ahead and clicked "Agree and Continue" so you have no grounds to complain and Paypal doesnt have to explain anything to you.

Suggestion:  Read the fine print