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!

[thebrandenburgs]

That is crap - I thought I'd been a member for a long time, being one since 2007 - but you've been with them for 11 years??  That is not a good business move for them.  It is not right to punish customers when they have done nothing wrong - and especially if they are ones, like in your case, that have been wronged.  If I treated MY customers that way - I wouldn't have customers for long.

Someone posted a reply to me from another similar question I had commented on, similar to the one I posted, and said that they think that the deal is that Paypal is targeting sellers that are not selling things consistently enough.  They suggested I go ahead and keep selling on eBay to get Paypal to drop the hold - but the thing is - I do not have an eBay business, and I don't have anything to sell on a regular or consistent basis that I would not have to worry about the money for 3 weeks!  And why should I have to do this in the first place - when I have done nothing wrong!  I just use eBay occasionally, to buy and sell - not on a weekly basis though.  It just **bleep**. 

Good luck - hopefully they will rethink this policy.

[hosshunter]

What it adds up to is Paypal is going to make thousands of dollars a day in intrest from the free use of our money for 21 days or more. Overall in one year they stand to make millions of dollars a year from this practice

[shelly4]

I also received a hold on payments email yesterday for no reason. I have tried to contact Paypal, but there doesn't seem to be a way to get an answer to why this has happened. I think if they are going to change the status of people's accounts, they should at least provide an answer as to WHY!

[jackisback]

I understand exactly what you are up against. I just read the same notice on my account. I was furious. I called PayPal immediately and discussed my concern.

I walked away from the conversation with an understanding that because I complained, they changed it from 3 weeks to 1 to 3 days depending on confirmation of delivery or positive feedback. This then is not much different from what it has always been.... putting a hold on the funds until positive feedback / confirmation of delivery.

I think that they sent this notice out to as many customers as possible using any / all / bogus reasons whether or not they were valid.  They did this with the intent and  understanding that those who call to complain are customers who shouldn't have received that notice in the first place.

The more money that they can hold, the more money they make on interest.

Bottom line kiddo, I think that those  notices were sent out to most of their customers. If you call to talk to a live person and they are convinced by your questions and answers that you are upset and that you are a good eBay customer with few problems and good feedback, they will drop that 3 week hold to 1 to 3 days. It worked for me.

[samsresale]

I am very sorry that ebay and Paypal are destroying the confidence that their clients have in them.

What number did you call to talk to someone?

Are they in financial peril? Why are they squeezing us?

What other ecommerce solutions are available??

[SEVideo]

I was stunned when I just sold an item on Paypal and my funds were not immediately available. Admittedly, I haven't sold anything in awhile, but I have been a member since 1998 and have 100% positive feedback of 455. After I entered the tracking info and marked the item as shipped, the "Funds Available" date changed to 11 days later! Outrageous! Time to find some other payment method.

[day557]

Use money order only instead of PayPal. That's what I'm thinking

[EnvisionIt]

I have a fully verified business account and I've never had to issue a refund but my payments for SERVICES are being held. I've never sold on Ebay, nor do I ship a product, so I cannot provide tracking and have no choice but to wait out the FULL 21 DAYS... Ive contacted PayPal repeatedly for a solution and got nowhere.

My question is, Where is the customer support for sellers/businesses???? Without us there wouldn't be a PayPal yet we get treated like criminals. But hey that's just my opinion...

[temp09022011o]

Dear, Paypal

I have reviewed the email you sent me and determined that there's a relatively higher than average risk of future business with you. I understand that it may be inconvenient to have customers leave, but please know that I didn't make this decision lightly. Sound familiar? 

I just wanted to inform you have just lost a long time user of your service, and due to your policy, and fear of losing money, I will be leaving this service.  I will wait 21 days to get the rest of my funds OUT of Paypal.  I will no longer use Paypal as a trusted source for my funds.  Who ever is making these decisions to make a long time buyer and seller of Paypal not be trusted, and wait 21 days to take out their money is making it obvious that Paypal is running into some sort of hardship. 

Not to mention that my account has no disputes, and my ebay rating is at 100% positive feedback, with well over 50 physical items sold. 

The fees this company takes out not only from EBAY, but also Paypal are unethical.  I will most likely keep using ebay, however paypal will not be my option.  I am not a big seller, so I will just stick to the credit card option. 

Good Luck, Paypal

Looking forward to better service.

[terese2]

Great letter!

Paypal needs to receive a LOT of these!