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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@paul wrote:

Embrace this good service and see what you have the 21 day hold imposed for because it can be removed if you talk to eBay and do so with an open mind because no one else can compare to them and do what they do as well. Please call the people with respect and an open mind to see what caused your problems before you make a misinformed decision and cut your ties with them and it was the dishonest few that caused the problems for the honest majority and realize that none of us are perfect because we are all a work in progress and give pp and eb a chance to mediate with you and they do value us because we are them.Forgive and it will all work out.

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Paul, with all due respect,  have you read the past 90+ pages before jumping in here and telling us to embrace this good service???.  Many of the stories are heartbreaking for sellers who depend on their funds being immediately available especially the shipping costs, which was always the case until PayPal without prior notice arbitrarily imposed this 21 day hold.  Yes we were told to provide tracking numbers and get buyers feedback and funds would be released but again if you read through here those efforts still did not satisfy PayPal and holds remained.  If you search through these posts you will find that just about everyone has been on the phone with eBay and PayPal India or emailed eBay/PayPal several times all resulting with frustration and conflicting information as to how to get our funds released.    I can only believe that the eBay/PayPal customer service reps were caught off guard or were not informed how to handle this policy change that caught so many of us off guard.  I would imagine that the majority of sellers that contacted PayPal initially did so with the idea that a mistake had been made and were cordial and open minded.  Then repeated calls ensued and tempers flared.  Many had no choice but to seek out other auctions sites and payment methods--I use Google checkout and am pleased. 

I see nothing good about this policy that you think is good.  PayPal has not made any attempt to explain themselves or come onto any of the forums to discuss this.  Let me also set you straight about eBay being the only auction site that does this well.  A result of this disastrous measure that PayPal took without warning or explanation we sellers have found plenty of sites that have the potential to do eBay's job and do it better. I have had emails from other sites offering discounts to switch, and one that is actually free and you donate what you want if an auction closes.  eBay became too big and totally underestimated us--such as when they stopped sellers from being able to leave feedback for unscrupulous buyers who are non paying or like to file complaints--I relied on that information but eBay took it away to protect the buyer. 

And FYI eBay nor PayPal has even attempted to mediate with us.  The hold is being removed for some and not others-there is no rhyme or reason.

You suggest we forgive them after such damage has been done and this has been going on  since November with the main holds occurring in January and still funds are being held. Sorry I have not seen any signs of them apologizing or admitting this was wrong. I won't forget.

To this community I will point out a glimpse of what appears to be happening in other countries--India leading the way. 

When first announced a few weeks ago there was a report from CNN that PayPal was halting PayPal in India and put their spin on it--YET yesterday as I was looking at the financial's and the news I found this very significant article from the New York Times International Click here: India’s Central Bank Suspends Some PayPal Services - NYTimes.com :   While PayPal was spinning it their way it turns out that it was in fact India's Central Bank  that suspended PayPal services.  This is important  as I have stated before PayPal has to meet all legal and monetary requirements for each country in which it conducts business. Many of us have been stating that PayPal is not a bank but thinks it has unlimited powers to do as they please.  I predict that the European Union may start delving into these same requirements and hopefully the US will follow.

I do not plan to forget or forgive this unnecessary action by PayPal--did they think we would not notice? Probably so since we were not proactive enough over the years to react to changes and this change was major.

I will also note that eBay's stock had a very bad day yesterday dropping over 1.5 points and looking at the past month this stock continues to slide. 

I only wish that before posting that everyone take a look at the earlier posts and you will have a more complete picture.

[DIANN]

Thank you for sharring this info.  Seems as tho PayPal is not good in more than one area.  If purchases are made from India, like my silk thread, is there an alternative method we now need to use?  India seems to be the only place I am able to secure fine silk sewing thread.

[Djten]

Hey femsol I agree with you! What Starship or Klingon ship did this dude beam down from?????

[rmc]

@djten @femsol, I agree also, anyone that can read all of the posts about this issue and still have that viewpoint must have beamed down from the Starship Paypal, unbelievable.

[femsol]

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@rmc wrote:

@Djten @femsol, I agree also, anyone that can read all of the posts about this issue and still have that viewpoint must have beamed down from the Starship Paypal, unbelievable.

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@Djten @rmc

If you have time click on Paul's name and then you can read his posts in other forums.  I think you are right he was beamed down from Starship Paypal--good way to look at it.

[femsol]

OMG, I read through this forum while I am waking up and then return to the business of my emails and paperwork.  I cannot believe it but I just received this message from PayPal:

"Because of your consistently good performance, we're removing your account's payment hold."

Being naturally suspicious I logged into my paypal account and the familiar 21 day hold banner has been removed.

I wonder if Paypal has actually been reading these posts and paying attention to those who pos. But, the damage has been done. When this starting affecting all of us it me time to look at how much it really does cost me to do business with eBay and Paypal.  I will still remain supportive here on these forums and provide information on how other payment or auctions sites are performing.  

All I can say right now is to Keep Making Noise!

[mrs5pennies]

femsol,

That is great news for you and I applaude you, even though you're no longer selling on Ebay....As you and I both know, there so millions of people who sell on Ebay only because it's the only way they can stay afloat in this economy - layoffs, foreclosures, etc.  I, for one, have gone to another website to sell - ebid dot com.  I continuously watch Ebay and Paypal play with peoples lives and am so sick of it.  I haven't heard back from the Attorney General, but, I'm sure this is being investigated.  If they (Paypal and Ebay)  ARE reading these blogs, then they have to know that they are destroying people left and right.  As one news article said, Ebay started out almost like an online flea market where people could sell their items and make additional income.  We, the little guy, provided them with the avenue to become a large, money sucking entity. Actually, I began selling and buying on Ebay in 2000 and currently have over 2000 positive feedbacks.  That particular account is the one I started with on Ebay.  I also have a smaller account that I opened in 2005 and have 179 positive feedbacks.  As a retiree who was hit by the Social Security fiasco of no 3% increase this year or next,  I, too, hoped to be able to make additional income to help out with our 30% electric  increase, real estate taxes, food increases, and gas and heating oil increases.  Ebay/Paypal has made that impossible.  Ebay/Paypal, take heed!!!!  LISTEN to the people who made you what you are today!! Take this ridiculous hold off payments!  Go back to what you were originally designed to do - be an avenue where a buyer can make immediate payments for an item and a buyer can receive that payment just as quickly.  You, in your greed, are going to be your own nemesis....

[femsol]

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@mrs5pennies wrote:

femsol,

That is great news for you and I applaude you, even though you're no longer selling on Ebay....As you and I both know, there so millions of people who sell on Ebay only because it's the only way they can stay afloat in this economy - layoffs, foreclosures, etc.  I, for one, have gone to another website to sell - ebid dot com.  I continuously watch Ebay and Paypal play with peoples lives and am so sick of it.  I haven't heard back from the Attorney General, but, I'm sure this is being investigated.  If they (Paypal and Ebay)  ARE reading these blogs, then they have to know that they are destroying people left and right.  As one news article said, Ebay started out almost like an online flea market where people could sell their items and make additional income.  We, the little guy, provided them with the avenue to become a large, money sucking entity. Actually, I began selling and buying on Ebay in 2000 and currently have over 2000 positive feedbacks.  That particular account is the one I started with on Ebay.  I also have a smaller account that I opened in 2005 and have 179 positive feedbacks.  As a retiree who was hit by the Social Security fiasco of no 3% increase this year or next,  I, too, hoped to be able to make additional income to help out with our 30% electric  increase, real estate taxes, food increases, and gas and heating oil increases.  Ebay/Paypal has made that impossible.  Ebay/Paypal, take heed!!!!  LISTEN to the people who made you what you are today!! Take this ridiculous hold off payments!  Go back to what you were originally designed to do - be an avenue where a buyer can make immediate payments for an item and a buyer can receive that payment just as quickly.  You, in your greed, are going to be your own nemesis....

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Thank you Mrs5pennies--the hold being lifted was a surprise and I had a zero balance anyway.  Would like to talk to you about ebid--I tried to see if we had a private message here but could not find one. If you want you can email me at femsol at A O L dot com.

[mrs5pennies]

I am so sorry everyone....I was trying to tell you about ebid but was giving you the incorrect web address.  It is EBID DOT NET, not dot com......

[BigTPoppa]

Yes, it is very interesting to see what the 21 day hold has created, that we never would have known about before. For instance, many people leave money in their account to buy other things, was this money subjected to an interest bearing account for Pay Pal. I, myself, have really taken a real close look at the fees ebay and pay pal charges for sale items. Wow, it cost me over a quarter of what the item sold for. Yes, my account was released for the 21 day hold, but hey I leave some money in the account for buys. We all need to keep active at this attempt to reverse the tide, in the end it will make a better place for buyers and sellers alike. Just keep track on your ebay and pay pal fees for increasing, if this occurs we have not gained anything.