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!

[Newestscam]

This policy is unfair. I have a 100% rating. Boycott paypal! They just want to keep our money as long as they can and gain interest on it.

[Swisschef216]

I have been a e-bay/pay pal member for years, bought and sold some items.

 A few weeks ago I received an e-mail from pay pal, telling me "your account is under review" and will be reviewed every 35 days.

I bought an item last week in excess of $ 500.00, and immediately transferred $ 550.00 from my Bank to pay pal.

The money was taken out of my bank, but did not get a credit  for 5 days at pay pal.

In the meantime, pay pal charged my credit card for the selling price.

 On the other hand I have to wait for 3 weeks for my money, unless I buy shipping labels and shipping cost from e-bay.

Almost sounds like some kind of black mailing. (Do it our way or wait for your funds)

[Newestscam]

I am angry about this also. I'm not going to use PayPal anymore. We must all boycott! I've been a seller for 5 years, but don't sell a whole lot. I have over 50 ratings at 100%, yet PayPal holds my money. A buyer pays for shipping, yet I have to use my own funds for shipping, then get reimbursed at a later date whenever PayPal decides they are done using OUR money.

[ltwix85]

I know what you mean. I just sold, shipped, and confirmed delivery of an item I sold on eBay. They told me I would have to wait 7 days for my payment to clear...why? The money belongs to me, the item has been delivered! I called ebay and they threw a fit. They finally put in to have the supervisor expodite the pending payment to be cleared within 24 hours because I need the money immediately. This is rediculous and should definitely be illegal. I couldnt even believe eBay took out $24 just for me selling my item. It used to be free...if I had known they were going to take out all of that, I would have sold it on Craigslist! But I still have to transfer to my bank, which I dont even know how long that will take! I will not use Paypal or eBay after this is done!

[Newestscam]

We need to inundate them with angry phone calls. Stop using them and request money orders. Boycott the **bleep**. I won't wait 21 days to get my money that the buyer paid ME, not paypal. They are only a transaction service. How about a class action lawsuit? Anybody interested?

[dentbecky]

Not to mention that PayPal is making interest on our money while we have money in our accounts with them. They also charge the seller 2.9% to accept payments from them. It should be the other way around. I am not the one that has to use thier service (other than Ebay and PayPal conspire to make us use them as much as possible within thier legal limits) Fees should be placed with buyer not seller because PayPal is making interest on our money they are holding in thier account until we withdraw our money out of it.

With all that being said PayPal is now holding our money until PayPal feels that we are honest enough to use thier services of transfering our money with them? So now they are guaranteed interest on our money until they deem that they have made enough interest on our money to actually allow us to withdraw our funds from thier bank.

PayPal and I will include Ebay (cause they are owned by the same) needs to down size the companies and become more intouch with thier users and get away from the corporate greed that they are exhibiting.

Their is a commercial I have seen for Ally Bank where they give a total stranger a briefcase with 1 million dollars and ask them to hold it and they will be right back to get it. The commercial states that not one of the strangers took any of the money. They then say if your bank takes more than a stranger you should go else where. I am really thinking this is the best option for me as a seller with Ebay that is forced into using PayPal.

If you agree with the statements I have made reply with a simple agree and maybe we can get these companies to reconsider a new direction and save the down fall of thier services.

[whyte66angels]

I just had the same experiance with paypal & ebay. I recieve bad opinion from a few buyers about my shipping prices on ebays seller dashboard. when all buyed know before they bid what the shipping is going to cost them.  As punishment from ebay they expected me to pay out of pocket for all the shipping while they held my funds until buyers contacted them stating they recieved items & were satisfied or wait 21 days. Is this leagle? I dont know but I do intend on contacting someone about this matter. Just because Ebay bought PayPal doesnt give them the right to do that. I thought ebay & paypal were 2 separate identities. Ebay auction site & paypal the bank. I was told the seller dashboard was a buyers opinion of the seller. How come we sellers who accually started Ebay (House wifes) are beeing punished for an "Opnion" especally when these buyers left us positive feedback. I was at 2066 100% feedback I guess that means crap!

[makdknife1]

All it takes is one, literally, insane buyer to take down a 2000+ perfect record, 10 year veteran seller.  I know buyers who won't buy from anyone less that 100 percent.  eBay allows buyers to completely f**k over seller's and will, without recourse.  A lot of us make a living on eBay and a negative....just one negative is a true tragedy.  eBay doesn't care.  They are heartless vampires.

This is prime time for someone to open up a new eBay type of auction house.  It's a matter of taking the existing software ebay is based on...and it is out there, making it one's own, having the servers to back them up...then advertise.  The irony is one could still use ebay as a pay point.  Understand the problem with the holding of funds lies in eBay and PayPal being One.  Separate them and they're just two low level vampires taking advantage of people because people got complacent with them and they became a monopoly.

[Silencio]

My 21 days is about to expire next week. I sold about 30 things since. Will all my money get released when the original 21 days is up or do I have to wait 21 days from the date that every single item was sold?

[makdknife1]

If they're truly making money off of the interest of your money, I'm sure every transaction starts at 0 days and the other transactions are not considered.  Get your print outs together from your sellers, PayPal, eBay.  First contact PayPal and inform them you are going to the local Police (PayPal is based in San Jose, California so its the San Jose Police Department) and you are going to make a criminal theft complaint against them. If the do not release your money....go through with it.  They cannot give the police some jive reason as to why they are holding YOUR money.

You sold something to someone.  They paid you the money they owed you.  Someone has taken your money.  That's called theft, plain and simple.  The responsible party can be charged and taken to jail.

I believe people are over thinking this since PayPal is so giant.  Look at this way....this guy contacted you and said he likes what you have and wants to pay you some money for it, but he prefers using a middle man named Mr. Paypal T. Scum. 

You agree and he gives his money to Mr. Scum and Mr. Scum refused to give it to you.  He doesn't give a dam what the buyer is giving it to you for the item.  He says he ain't given it to you  until may...the item gets to the buyer.  Okay...you give the situation the benifit of the doubt, the item gets to your buyer and your buyer is satisfied and gives you a pat on the back.  Mr. Scum says that's good, but he's still not given you the money because he wants to teach you a lesson just because!  Mr. Scum, the middle man, but law, has taken illegal possession of your money (infact, he took illegal  possession a while back).

What do you do.  You call the cops and get your money back.  You don't call a lawyer.