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!

[readuseragreeme]

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@sisenber wrote:

I have been a PayPal client for almost 10 years.  Today PayPal decided to hold funds on a $2000 payment made from one of my customers who had been paying through PayPal for almost 3 years. 

When I called to inquire I was told that elected to "investigate" and it might take 10 or more days to resolve.  I asked if I would be credited with the interest that PayPal would receive while they "held" payment.  I was told no I would not. 

So, if PayPal decided to "investigate" lets say 1000 payments at approx $2000 each for 15 days, how much interest would they receive on that amount for that period of time?

This is not right and it seems it would be illegal.

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You have been a victim of Paypals 21 day hold policy.  Your right they could be getting millions of dollars in interest off your and everyone elses money, its not illegal though.

[sondre]

clever paypal

[nicegirlsfakeit]

I'm trying to figure out why my account has been put back on the 21 day money hold status. I have only been using Paypal for several months and after the initial 90 days of creating my account, it was taken off the 21 day money hold. A month later, it was put back on. I have contacted customer service numerous times and keep getting the same crappy auto response "be sure your profile is completely filled out and be sure your credit card information is up to date." My profile IS completely filled out and it hasn't been changed since the day I set up my account. The only thing that has changed is my credit card information and I changed it because it needed up be updated to my new card. Not to mention, Paypal TOLD me to be sure it was up to date. So, I'm being punished for following the freakin' rules. What gives?!

[profdata]

You are a new seller

 the seller has higher than 5% buyer dissatisfaction rates

the seller has less than 100 feedback

the items are listed in categories with higher rates of buyer complaints, including: Gift Certificates, Video Games, Cell Phones, Computers and Consumer Electronics.

Your payments will not be held if you meet the following requirements:

• You have been an eBay member for 6 months or more, and
• Your total Feedback score is 100 or greater, and
• Your buyer dissatisfaction percentage is less than 5%.

[readuseragreeme]

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@profdata wrote:

You are a new seller

 the seller has higher than 5% buyer dissatisfaction rates

the seller has less than 100 feedback

the items are listed in categories with higher rates of buyer complaints, including: Gift Certificates, Video Games, Cell Phones, Computers and Consumer Electronics.

Your payments will not be held if you meet the following requirements:

• You have been an eBay member for 6 months or more, and
• Your total Feedback score is 100 or greater, and
• Your buyer dissatisfaction percentage is less than 5%.

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Where did you find that Profdata?

[lawyerjim]

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Your payments will not be held if you meet the following requirements:

• You have been an eBay member for 6 months or more, and
• Your total Feedback score is 100 or greater, and
• Your buyer dissatisfaction percentage is less than 5%.

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I've been a member of eBay since 1999

My feedback score is 129 & 100% positive

I have never had negative feedback as a seller

I received an email from eBay this week requesting a tax ID number as my sales this year is approaching $20,000

And today PayPal put a 21 day hold on MY MONEY (for about the 5th time)

And just like the times a hold was placed before, I am going back to alternative methods of payment.

[YourStupid]

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@lawyerjim wrote:

And today PayPal put a 21 day hold on MY MONEY (for about the 5th time)

And just like the times a hold was placed before, I am going back to alternative methods of payment.

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Why if you are unsatisfied with holds on your funds would you come back to Paypal especially after 5 times.  Maybe sticking with those alternate methods of payment would be best...

[lawyerjim]

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Why if you are unsatisfied with holds on your funds would you come back to PayPal especially after 5 times.  Maybe sticking with those alternate methods of payment would be best...

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When I get my my money when I should, PayPal is more convenient.  When they hold it for 3 weeks, it is not.  That is why I take all of my money off of PayPal and quit using it when they make that arbitrary decision to place the hold.  When they release the hold, I go back.

I had $800 on PayPal when they placed a hold on $14.99  I immediately withdrew the $800.  Now I'm working on changing my eBay listings.

And what angers me the most is that no one at PayPal will, or even can, explain why they do it.  eBay member since 1999. Over 100 feedback at 100% and never had negative feedback as a seller. 

[tyedyedgrandma]

They did the same thing to me today and there reason is my sales have tripled in 60 day? Is that stupid or what?

[pegasusjourney]

Although Profdata's explanation makes a lot of sense. I don't believe it is entirely accurate. The reason for this is that I have been an ebay member for 8 years, I have a feedback score of 165 with 100% feedback and I was still place on a 21 day hold as well, therefore, the reasons that he/she provides are innacurate. I haven't called them because I am mostly a buyer on ebay, I have only sold 3 items on ebay. My 3 sales were successful, I assume my customers were happy because I haven't had a complaint. As I mentioned before, I have 100% positive feedback, which is easier when you are the buyer and the only thing you have to do is pay to get a good score. The fact that I was placed on the 21 day hold bothers me because they claim they reviewed my account and they talk some garbage like "there's a relatively higher than average risk of future transaction issues (such as claims, or chargebacks, or payment reversals)." I understand this is a very general and automated email that doesn't necessarily explains the real reason, but it does make me a little upset. I believe paypal needs to reformat their emails. It reminds me of the BS excuses that banks put on the decline letters when you apply for credit.  Any ways, I just think they consider little people like me high risk because I am most likely to hit and run than big costumers with 4 or more digits feedback score.