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!

[ebbill]

There are already several class actions suits in progress against PayPal and eBay.  All you have to do is Google PayPal class action to find out the details if you want to join the class action.  It is very detailed and requires a lot of documentation on your part.  You have to show every transaction that money was held.  That is what they are basing the damages on.  So get out your ledger and start recording the held transactions if you want to take part in the class action.  but Google it first to make sure that I am giving you accurate information about the class action.

[exoticona]

Elon Musk the CEO is investing in Electric Cars TESLA, and in venture financial companies with all of the held money. Investigative reporters are revealing more about what PayPal is really doing with the money.

[FreeMyMoney]

I'm so mad I can't see straight!  I just checked with the bank and found that I have $175.00 in overdrafts (which I can't afford) due to PP holding funds that I am told I can use for shipping.  I can't seem to figure out how PP wants to continue to make money if they do this to everyone/anyone they see fit to.  I mean, I sell something, the buyer pays (for the item and the shipping cost), PP tells me the payment is held but I can use the funds to ship the item - and that I should ship it out promptly.  So I do - and I did for like 5 items withn a 3-4 day time span.  Then I got feedback on the items and funds were still held - no biggy - I figure it just takes a few days to shake things out.  When I went to my bank account to make sure I didn't have any funds in there (I needed to buy groceries) - I find that I am overdrawn by 175.00!  Now - when I look into it - I find that each time I shipped - the funds were 'taken' from my savings account (which doesn't normally have much in it - as I can't afford to leave it there.)  So - where paypal tells me 'sure, go ahead, the funds will be released for purchasing shipping' - I believe them and now I am out $175.00 (actually more because the cost of shipping came out of the account as well - because they didn't release the funds like they said they would). 

If they didn't say in their emails to go ahead and ship out right away - (process the transaction normally is how they put it) - and when I 'asked' about using the funds that are held to pay for shipping (I mean, the customer / buyer paid for the shipping - why shouldn't it be available to use to buy the label?) - it says that they will release funds to pay for shipping from the held or pending balance.  They lied - and now I'm in debt that I can't afford. 

Anyone else have this trouble?  Has anyone ever gotten reimbursed on the overdrafts?  If so, how?  I can't afford to sell this way - I don't sell just because I like to - I sell because I need the money.  If paypal wants to continue to get paid and make money - they should figure out how to release the funds paid for shipping.  Do we have to have them (buyers) pay a separate payment that says 'this is for shipping - do not hold' - or what? 

I'm almost at the point of putting my shipping time at 20 days or whatever the longest time is I can with ebay and then say I do accept USPS money orders and ship within 1 day of receiving those - at least this way I have control of my money and can cash it at the post office when I pay for postage - that way PP loses both the transaction fees and the kick back they get from me buying postage through them.  Maybe if more people did this - they'd stop and fix this issue.

I've been selling on ebay for long enough that my funds shouldn't be held any longer and have had NO complaints, chargebacks or even refunds that I've had to do - so there's no cause for them to hold funds for 21 days. 

[cintasone]

Ebay and Paypal both are extortionists! You see they are forcing us to do more business with them, they don't care about someone that does 20 or 30 transactions a year! They want the big players in the game. I had a buyer purchase an item for 20.00 from me and then turned around a demanded 5 dollars back or he would give me bad feedback. I told him no 

and turned him into Pay Pal and Ebay under there complaint page. I sent all the emails to both companies and neither one ever responded to my complaint. Its just a racket like everything else. I got hit with the bad feedback and neither one cared, they need to keep the big boys happy.

[mistyshort78]

PAYPAL GET YOUR HEAD OUT OF YOUR **bleep** BEFORD YOU LOSE EVRYONE!!!!!! I HAVE A PERFECT RECORD ACROSS THE BOARD!!! NOTHING BUT GREAT FEEDBACKS FROM ALL MY BUYERS!!!!!! IF YOU DON'T STOP THIS **bleep** I'M GOING TO START GIVING REFUNDS AND TAKE MY **bleep** TO THE **bleep** PAWN SHOP BITCHES!!!!! SO **bleep** YOU!!!!!!!

[meganm27]

So I sold an item on Ebay for the first time and the money was deposited no problem. I shipped the item and the user gave me positive feedback on the speed that it was received. Anyways, it's now four days after she received the item and my funds are still pending. I really needed the money for a bill and was happy to have sold the item but now why don't I have my money in available status 🙂 Any help greatly appreciated 🙂

[meganm27]

Still pending....called paypal and they said there's nothing they could do and I would have to wait. The person received and loved the item, and posted great feedback. What is the problem here?!? It's my money and the shipping costs came out of my pocket which mind you was not cheap. Now I have to take my cat to the vet and have nothing to do so with. I am seriously angry right now. Anyone have any tips for me at this point??

[temp10262011z]

They absolutly **bleep**.  I've bought stuff thru ebay and it was fine, I sold a few things and yes it can take a few days, but this time I had to do a local pickup for a larger item, and they are telling me since there wasn't a shipping lable, there is no way around a 21 day wait.  I will never use them again.  I called and they said to have the buyer leave feedback (which I did) then when I called back and got someone else they said there was no way around it.  they discourage local pickup.  If you don't have the tracking number ect then your **bleep**ed and will have to wait 21 days (were they keep your money withou paying you interest)

[colliegirl]

I've sold several items on ebay and have 100% satisfaction rating.  I just sold several more items and my money is pending!!!  Kind of makes you wonder how financially solid PayPal is if I have to "float" them money!  I sent them an email 48 hours ago with NO response.

[JeremyL27]

I have been using Paypal and eBay for years as both a seller and a buyer. I just sold one item a couple of days ago and Paypal sent me an e-mail saying "Ready to Ship". I logged in and verified the buyer's information and shipped the item. However, now I am being told I have to wait until November 14th to see my money. This is ridiculous. I have 100% feedback on my eBay account, and have never had a single issue opened against me as a seller. 

Apparently, eBay 'marked' my account as 'substandard' because I haven't sold ENOUGH in the last 6 months. It really sounds like they just want to hold onto my money for as long as possible.

I won't be accepting Paypal on eBay auctions in the future.