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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DIANN
Contributor
Contributor

I took some time to check out different auction sites available on the Internet.  I just put auctionsites other than Ebay.  there was one showing all of the different bigger sites & compared them to each other.  Ebay charges the most money for everything.  It's been awhile since I sold, & I want to do that now.  I will not use ebay again.  If you want your site featured it's $39.00. You really need to sell a lot of items just to pay for that fee.  Add all of the other fees, plus putting out cash for shipping, is way too much.  I just believe that they felt they had control of the market, & could charge what they want.

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misterkat
Contributor
Contributor

I just notice of the 21 day hold on my money.  Since I have a zero balance I guess Paypal considers me a bad risk.  However I don't feel like leaving money in my account for Paypal to use for nothing without paying me interest or something. This is just another way to punish the seller by refunding your money without telling you.  Too heck with them, I'm through with Ebay and Paypal.

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DIANN
Contributor
Contributor

EBid is one of the sites i did an over view on.  They have almost as many auctions as Ebay, almost as many buyers, etc. have better security, & cost a lot less

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blackice1059
Member
Member

It's good to see I'm not the only one in this boat.... I recently sold a bunch of stuff on eBay because

I lost my job and need to pay some bills.... Only to find out about this new "Hold" policy. Needless

to say, these bills are probably not going to get paid on time any more.

 

For all of you in the same boat, you DO have a voice.... I'm not entirely certain what Paypal is doing

is illegal, but it's definately shady. OUR money is sitting in THEIR accounts gathering interest for

up to THREE WEEKS before being "released" to us.... If you go to your bank and cash a check, even

if it's an out of state check the longest you will probably have to wait is 5 business days.

 

I'm still waiting to see how this pans out, but as of now I will not be using Paypal or eBay very much

if at all in the future. I highly recommend going to your state Attorney General and filing a complaint,

as well as the Federal Trade Commission and the Better Business Bureau.

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popculturizm
Contributor
Contributor

Of course that would be fine if Paypal were a Merchant Bank, which they are not, if they were they would give interest on the funds they hold and be FDIC insured, Paypal is simply a con to take advantage of those who use eBay (why else make it the only service available , no checks no money orders is that even legal?) we have NO Complaints, High DSR, HIgh eBay rating, and Paypal DECIDED out of the Blue to start holding  our funds? When asked why, I was told that I didn't have to sell on eBay, 10 years on eBay and that's the answer I got, Horrible Customer serve, Paypal **bleep** simply a Horrible expierence  and should be investigated by the FTC.

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99myangel99
Contributor
Contributor

paypal has a hlod on money for 2 weeks, I paid for delivery confirmation with shipping through paypal, I emailed the buyer and she got the package and the tracking is still showing nothing! Now because the post office is not doing there job I am out!!! I am now waiting to hopefully get feedback to get my money. NEW SYSTEM **bleep** BIG TIME!!! DON'T THEY MAKE ENOUGH MONEY OFF US ALREADY!!  SOME OF US SELL TO PUT FOOD ON THE TABLE SO WHAT DO I TELL MY KIDS DINNER IS ON HOLD FOR 21 DAYS!!!!!

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o0o0o0o0o
Member
Member

ya i refuse to use paypal , i never been so outraged with this service , i hope ebay gives them money to stay alive because soon that other paypal service knockoff  is gonna take over if paypal doesnt be careful

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VR6
New Community Member

Hello,  I recently sold a blackberry on Ebay, and the buyer paid with PayPal, and the funds have a hold on them.  I sent out the item and it was there in 2 days, The tracking number told me that.  I never recieved or left feedback.  a few days after the tem arrived, i started sending them messages asking if they recieved the item in satisfactory condition.  The have not responded to me or left me feedback.. it has been the 21 days, and the funds were supposed to be released to me, but it still says pending balance...   whats going on here??!!Smiley Mad

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vortex24
Contributor
Contributor

I am having the exact same issue.  I sold a Pantech Impact, and it said the funds were supposed to be released today but it is still "pending."

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pac1063
New Community Member

i closed my paypal acctweeks ago and i still havent received my balance in the form of a ck from paypal. i also took my bank info off and luckily i did because today a merchant tried to auto pay with 'this closed account' i am appalled by paypals attitude of protecting the buyer at the cost of the seller. My ckng acct also had to be closed due to overdrafts thru paypal.

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