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!

[100catfish]

I agree with both of your assesments.  Banks cannot hold money and not pay interest, and now Paypal is holding money for up to 3 weeks... no way.  I am done.  They have been sitting on over $3,500 for 3 weeks.  I am done.  I am getting out of ebay and paypal after this sham.  I will utilize another forum and venue. 

I am going to look into other venues, and maybe an attorney general for my state.  I wonder who governs Paypal?  Too bad the Dodd-Frank bill did not include Paypal somewhere...

[BoJack]

I am having a similar problem with paypal. It started when I had to cancel one credit card for a fraud charge arid not related to Paypal. It took me a month of phone calls to get them to refund the money to 3 people the credit card cancellation withdrew money from there account. I was only able to get in touch with two of the sellers because the other blocked me with no chance for me to plead my case. Of course that is another problem.

Sense that has taken place paypal has put all my payments to e-check and hold for a week. I really do not understand and it is hurting my reputation with the holding of my funds. I never asked for this e-check stuff nor do I want it. It my not be a hold as long as yours but it is really aggravating, have you found out any way to stop this  yet?

George

[sandypurins]

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@BoJack wrote:

Sense that has taken place paypal has put all my payments to e-check and hold for a week. I really do not understand and it is hurting my reputation with the holding of my funds. I never asked for this e-check stuff nor do I want it. It my not be a hold as long as yours but it is really aggravating, have you found out any way to stop this  yet?

George

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Hi George,

An eCheck is a bank account funded PayPal payment which does not have a credit card or debit card backup funding source.  eChecks generally take 3-5 business days to clear into the seller's PayPal account.

If you add a credit card or a debit card to your PayPal account profile, your bank account funded payments will be processed as Instant Payments... they will be instantly credited to the seller's PayPal account.

Sandy

[MJDMedLab]

Unbelievable isn't it??  They arbitrarily decide they have the authority to police our money. I sent in a few comments/emails about this policy.

  Obviously they can do this because there isn't a competitor to them. I would like to be part of putting other another option other than Paypal. I am looking for partners/sponsors to start something like this up. Seems it would be a good venture.

  I am no banker, not even close, but I have the entrepreneurial spirit to put into a project such as this.  I do not have the capitol to begin this alone.

  Let me know what you think.

Michael Davidson,   MJD MedLab

[fortynorth16]

  My payments are also being held!  I have called, trying to understand as to why they are holding my funds.  I also have 100% feedback, never had any complaints, always ship promptly, communicate with the buyer to make sure the items were received in good order.  I don't understand!  The only thing I was told was that they are looking for 100 positive sales without any negative comments.  I have just 86 with no negative comments.  This couldn't be true however as I found out later talking to several friends who use Ebay and PayPal who have less sales than I, and their accounts are not being held.

  As someone else mentioned, without any competition, I guess they can do whatever they want, and to who ever they want.  PayPal is a very convenient service, maybe their just getting a little "greedy, like too many other large corporations in this country today!

[MJDMedLab]

Absolutely......I would like to know if they monitor this site and if they care or is this just a "complaint sponge" where people can complain and/but nothing gets done.

 I'm just saying some compitition would be nice....

[tie6044]

Wow I thought it was just me but I see others are having problems. I usually only pay or receive smaller dollar amounts but the first time I get a payment of over $2000 it is on hold! The buyer agrees that he sent the money on purpose so what is the problem? I agree that it is just their way of making more money above the amount they collect on their fees. I guess it's going to be certified checks and wait til they clear my bank from now on.

[tbell28079]

PAYPAL IS GOING TO GET FIRED!

[tie6044]

Here's what's really interesting, I just had a $170 payment come through right away with no hold, do they just hold the big stuff or what?

[mini-moo]

Am I  reading this right?? That I need to have at least 100 stars ?(detailed feed backs) before pay pal release their hold on my account?why dont they explain that before you start selling?As a newbie seller (out of pocket on postage cause small items buyers dont want to pay recorded delivery charges)then had to hassle buyers:- "everything ok?parcel there quickly?great wud u mind leaving me feed back pleaseeeeeeeeeee- thought feedback was option?not the LAW!!!- everyone leaves great feed back ..... but still cant touch my money!!! omg!!! Wot was the point in trying to earn money............I cant get my money!! suppose you get one buyer thats just awful?? or they get peed off with me keep asking them to leave feed back?wud that mean I wudnt get any of my money??I wudnt have ever bothered if Id realised I wudnt get my money for ages if at all 😞