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!

[NocturnalSupply]

PayPal is holding $1000.00 of my money which is preventing me from being able to ship out items promptly and they use that as a excuse to continue holding my money. I created a petition to get this stopped immediately. Its the holidays and I'm unable to go shopping for my friends and family because of this. They also informed me today that they plan to hold on to it for another 35 days. This is a scam using other peoples money to collect interest!

http://t.co/pwaENtcd

[VeritasLinkage]

Yes, I agree whole hearted.  Just imagine the extra interest they are earning on our "held" money for almost a month!

[hello333]

Agree!  I will no longer sell on ebay until this "policy" is changed.

[illusions1137]

It's not just interest on our money that they're getting - it's also likely big gains from investing our money in the market.

As I mentioned in an earlier post - they've basically given themselves millions of dollars of other people's paypal money (free of charge) to invest however they like for 21 days - and can pocket the returns at the end of the 21 days.  It's quite scandalous.  For example, if they had invested our money in Apple stock over the past two weeks alone, they would have made over $50 a share in gains.  (The stock rose from $372.50 a share on Oct. 4 to $422 a share on Oct. 14).  And they could have pocketed all of that money themselves.   ... And if they have a lousy week in investments - no problem - they can just use the next paypal account's money to pay off the first accounts when the 21-day period is up - like a ponzi scheme.  It's quite outrageous when you think about it.   And honestly, I can't think of any other reason for them to be holding onto people's cash for 21 days - people who have 100% positive feedback and no history of any problems - - unless they wanted to use the money for short-term investments to line their pockets.  It's quite outrageous.

[makdknife1]

They're  a bunch of criminals.  Rumor has it, though, they are going bankrupt.  Pass the word.  At any rate, I will never use them again.  After and if I get my money from them, I am shutting down my account, both paypal and ebay.  These folks are to low to the ground for me, like snakes on their bellies.  I don't associate with people or organizations who do things like this to people.  eBay/PayPal equals swine.

[hbogdon]

I just called paypal because my package was delivered and I received positive feedback, they told me they were still going to hold my funds for 3 days. I told them I wanted to talk to a manager and I wanted my funds released now. I had to fight for it but they did it. I told them they have no right to hold my money it wasnt theres to hold and that they had a class action suit filed against them and I also told them I was closing down both my ebay and my paypal account and would never deal with them again because what they are doing as a company is totally wrong. they should not be punishing there good sellers for a few bad apples.  And if they continued this practice they were going to loose a lot of business. So call them and complain there number is 1 Login, Click "Contact Us", Click "Call Us". Good Luck all

[Imoutofhere]

This is way to much grief to sell on eBurn. I just have one question though why isn't PayPal fees put on hold as well they take thier money out right away.

[RiceH8TR1972]

So...I've been on E-Bay and PayPal since 2001. Currently, I have a feedback score of 100% out of 195 total transactions. I'm a casual E-Bay'er and I only use PayPal to purchase and accept payments for E-Bay usually. Typically, I buy and sell car parts...but I have been known to buy the occasional "thing-a-ma-bobber". I've never had any issues with buyers or sellers. I've always shipped my auction goods in a timely manner, and I've always received my payments in a timely manner. Until recently that is...

I recently listed (2) different items for sale on E-bay that sold for over $200.00 collectively. Of course, when I went to "My E-bay" to make sure that the funds had indeed been paid I was faced with a very puzzling "hourglass" icon under the "payment received" column. I thought...what does that mean? So, I did the next logical thing and logged into my PayPal account where I was greeted with...nothing...a goose-egg..."0". No payment, cash, green, moolah, etc.

PayPal must now be run by the same guys who were investing in Mortgage Backed Securities or something. Who else would have imagined that PayPal...free-market PayPal...would stoop to such a low level? SO...I did some research in the dreaded "User Agreement" and found this hiding in it.

"Actions by PayPal - Holds. We have updated our disclosures in Section 10 relating to your liability and the actions we may take. A User’s rights, responsibilities and liability under this section have not changed except for the addition of your acknowledgment that our decision to take certain actions such as holds and reserves is based on confidential criteria, and your agreement that we have no obligation to disclose the details of our risk management or security procedures".

Basically, this says, "We (PayPal) are letting you know that we changed the user agreement, (that nobody reads and just agrees too by the way) and  that your rights have not changed...EXCEPT...that now YOU agree that we can now apply HOLDS based on information that PayPal will NOT disclose, and YOU agree to that!"

Now, boys and girls...do you see anything wrong? Or, did I not read that correctly?

In conclusion, let me just say that as soon as I receive payment for my (2) last auctions. (If I ever do).  I will be cancelling my PayPal account and conducting my business elsewhere. This is not a threat, but fact.

PayPal has completely and utterly disgusted me.

You will lose in the end.

An Ex-PayPal "User"

[cheapskatePay]

1.) Payment reviewed from eBay buyer

2.) Log into my PayPal account

3.) Payment pending

4.) O OK it will be just a little bit for it to go through yay!!!

5.) Payment will be able to be reviewed so many day's after buyer recieves item.  :madman:

 HUH WTFUGE BROWNIES!!!!! ARE YOU SERIOUS?????!!!! I JUST SOLD A HEAVY ITEM AS FREE SHIPPING, THE PAYMENT WAS SUPPOSE TO PAY FOR THE SHIPPING AFTER I RECEIVED IT THANKS A TON FOR KILLING MY FEED BACK!!!! AFTER THIS FIRST ITEM THAT I SOLD USING PAPAL I WILL NEVER EVER USE SUPER DUPER LAME PAPAL EVER AGAIN!!!!

                                                               FACT!!!!!! PEOPLE TAKE YOUR BUSINESS ELSE WHERE THAT'S YOUR MONEY THEY ARE HOLDING!!!! LET'S PROTEST PEOPLE!! WE WILL PROTEST MONEY BEFORE PRODUCT, HAHA JUST LIKE EVERY OTHER TRANSACTIONS IN THE WORLD. THE PEOPLE ARE ALREADY BUYING AT THEIR OWN RISK, WHY THE **bleep** HOLD THE MONEY? TO MAKE TRANSACTIONS SAFER BUT THERE IS SO MANY WAY'S YOU CAN STILL RIP PEOPLE OFF IF YOU REALLY WANTED TO THROUGH PAYPAL, THIS PRODUCT BEFORE MONEY MESS IS BASSAKWARDS!!!!                                                FLiP iT!!!!

                       THIS SHOULD BE POSTED IN BIG BOLD LETTER'S! WE WHO HOLD OWNER SHIP OF PAYPAL LIKE TO CAUSE PROBLEM'S WITH TRANSACTION'S MADE THROUGH EBAY.COM, LIKE TO NOT INFORM YOU OF EXTREAMLY IMPORTANT INFORMATION KNOWING THAT YOU ARE GONNA MAKE THIS MISTAKE, IM SURE THERE ARE A MILLION PEOPLE A DAY THAT MAKE THIS MISTAKE, IT'S MORE THAN LIKELY THE  MOST COMMON MISTAKE MADe ON PAYPAL OK THANK'S HAVE A VERY BAD DAY TO ALL!!

FINE PRINT...PRODUCT IS RECIEVED BEFORE MONEY, WE PUT THIS IN FINE PRINT BECAUSE IT'S NOT IMPORTANT AT ALL THAT YOU KNOW YOUR GONNA HAVE TO PAY FOR THAT FREE SHIPPING MILLION POUD ITEM YOU POSTED OR YOUR EBAY FEED BACK WILL DROP DRASTICALY.

[IMG]http://i1182.photobucket.com/albums/x450/badboyspencer/paypalisfruity.png[/IMG]

[barbinva]

Wow...Just checked if this was happening to anyone else and what they had to say abou it...and I see people are not too happy...I have had both ebay and paypal since 07, and just a month ago started selling full time after needing money very badly...I put my time and effort into marketing and selling...I made money that I needed badly, was happy to see my time and effort paid off...until I came here to paypal and tried to transfer my money, MY MONEY,

That transfer is bad enough taking several days, but I was willing to put up with that, TO MY DISMAY i SAW THAT MY MONEY WAS BEING HELD...FOR AN ENTIRE MONTH, ACCORDING TO PAYPAL i DID NOTHING WRONG, ACTUALLY I WAS DOING VERY WELL, THEY, PAYPAL JUST WANTED TO MAKE SURE I WAS A GOOD SELLER AND WOULD RELEASE MY MONEY NEXT MONTH...wow, can not believe that, I have been working very very hard, making money and I cant get my money.

SO WILL PAYPAL PAY ME INTEREST ON THE FUNDS THEY ARE HOLDING? GOOD QUESTION? WE WILL SEE, THEY ARE HOLDING MY  MONEY OVER A MONTH, HOW MUCH INTEREST DO THEY OWE ME THEN?

i HAD NO IDEA ABOUT THIS HOLD WOW, NOTHING i CAN DO APPARENTLY