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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carmensound2011
Contributor
Contributor

The same is happening to me, as a good seller in good standing since opening an Ebay acct in May. I have all good feeeback, good DSR ratings, no disputes, mailing record is good - in other words, I have a clean record of selling. I was on the phone for over an hour a couple of days ago with three different Ebay and PayPal reps, and none of them gave me a reasonable response.  This is a completely arbitrary action on PayPal/Ebay's part, and I am currently seeking an alternative payment method - but what else is there for us to use?!

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dbcpunk
Contributor
Contributor

I would contact eBay, I too am on a what is called a policy hold, but I am a new seller, I have only 61 feedbacks, over the last 3 weeks every payment that was made I sent over to my bank account, this way I had money to pay debts, food, and gas, and like you I too, am having to deal with a lack of funds, the tragedy is that ebay and paypal both make very good money off  their sellers, and to restrict the sellers funds, is almost a slap in the face, it says we dont trust you, the merchandise, your selling, listing, and shipping is yours its your labor, and hard work that creates those funds, and its being coveted, by the very companys, you pay.

 

 My guess is there are people out there scamming, and what ebay, and paypal one in the same, are doing is trying to minimize their loss, but on the back of their great sellers. I would call ebay and paypal, to release your funds, that your living on these funds, and their hurting you and your business, my guess is, once they see what a good business person you are, they will release your funds. Stay postive, and remember, no one company can do business for long if they hurt there customers.

Thank You    Good Luck.

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concerned101
Contributor
Contributor

Im going through the same thing. No neg feedback and a great record. Always ship the next day etc. The first hold they said 21 and only held it 7. The second they said 15 days and that was 2o days ago. now when I check the last one it says will be held 4 days and yet its still 20 days later even after pos feedback was left by the buyer. I think this is total bs and I am currently seeking another payment method. I dont need a baby sitter especially one I cant get a strait answer out of.

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dmarketplace
New Community Member

Well, I feel very sorry for those that are good sellers and has been for years. Because paypal is lying to them and to everyone. They said this is done to sellers with negatives and too many disputes. BULL SH*&%. The same thing happened to my aunt and my best friend, both ebay power sellers with positive feedbacks, and their accounts were restricted. I just hope people from paypal are reading these comments so they can do something about it before everyone closes their account. My aunt did, and so did my best friend. They are now selling on amazon taking amazon payments.

As of for me, I am against it 100% I think is abusive and against the law. This is our money and they are making millions in interest by holding it for all those days. This is why I think they are doing this, not because they want to protect the buyer, BULL SH*%$#, they are getting away with fraud, the only difference is that they describe it as a "BUYER PROTECTION PLAN" YEAH RIGHT!. I mean,  I know I'm new, but I shouldn't have to be calling paypal to release my funds each time, WELL, IDO !! and IT IS EXHAUSTING !! They release the money when they want to, they say 3 days after the package delivers and after the buyer posts feedback, THAT'S BULL SH*&% again !! I'm telling you, I have to be calling them to release the funds all the time, otherwise they do it when they want to, 4 days 5 days later, and that's not fair. PAYPAL **bleep**! A MESSAGE TO EVERYONE: GO TO AMAZON AND OPEN AN AMAZON ACCOUNT !!

 

 

 

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AudioSeller
Contributor
Contributor

Thanks for the tip to look into Amazon!

 

I too am tired of unnecessary disputes while items are in transit (and I can provide tracking info).

 

Paypal encourages buyers to file early... yeah, we sellers know why... so that Paypal can make a lot of interest -- millions of dollars -- on all of the so-called "holds" that are suppose to be in escrow.

 

If it was true escrow -- to protect Both the buyer and the seller -- then the seller should get the interest on the funds Not paypal.

 

But Paypal clearly profits by the millions of dollars in holding our money.

 

What I find particularly unfair to the seller is that they even "hold" the shipping money that you spent to ship the item!

 

You had to spend it to ship it.  And yet they "hold" the shipping money while it is tied up in the dispute even though you can prove you shipped it!

 

Pure Greed!  They wrote me back today and told me they can't separate the shipping from the $1100 they are holding of mine for an item held up in customs in France.  It's there.  I shipped it and put out $140 to ship it!   And yet they won't even release the $140 that I spent to ship it.  They literally put sellers in the hole -- you are worse off then before you sold the item -- as you have to put money INTO the account to then cover the shipping "HOLD" since you shipped the item!

 

Paypal's policies on this are pure greed.

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tj10
Contributor
Contributor

THANKS FOR THE INFO. THEY ARE HOLDING OVER $200.00 OF MY MONEY. NO REASON. I HAVE SAID IT IS THE INTEREST THEY MAKE ALSO. THEY HAVE BEEN HOLDING MY MONEY A LOT LONGER THAN 5 DAYS

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godcares
New Community Member

Glad to see i am not alone! how can i contact paypal to get holds removed. their contact us page is not working.

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Lindylou87
Contributor
Contributor

I don't think PayPal wants to be contacted...can't imagine why...

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redpower
Frequent Contributor
Frequent Contributor

@tj10 wrote:

THANKS FOR THE INFO. THEY ARE HOLDING OVER $200.00 OF MY MONEY. NO REASON. I HAVE SAID IT IS THE INTEREST THEY MAKE ALSO. THEY HAVE BEEN HOLDING MY MONEY A LOT LONGER THAN 5 DAYS


Ah that would be because it's a minimum 21 day hold Smiley Happy
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I3ongwat3r
Frequent Contributor
Frequent Contributor

Wh Wha What?! there is a 21 day hold on my fund?! WHAT HOW COME THIS HAPPEN!

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