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!

[Madashell1]

Seems to be a hot topic,So just wondering why paypal keeps MY money when delivery confirmation has been made?All my items have reached sellers and paypal is still holding on to $512 of my money!WTF!

[skier]

If you're referring to the "hold" policy, it does take several business days after everything has cleared.   We experienced this scenario several times and we have always received our funds.

Regards,

skier

[NetSpace]

So I sold my Laptop on Ebay yesterday. My sold Laptop

PayPal decided to hold my funds even though I have 100% feedback rating and have never had a problem. But they (Ebay and PayPal) did not hesitate in taking their piece of the cut.

Heres the problem. Ebay's policies tell you not to ship the item until cleared payment. Should I wait the 21 days to ship the Laptop since the payment is not cleared? Also, I am required to ship with my own money and can not use the money payed to ME, yes to ME not PayPal. They have no right to hold MY money.

Salt in the wound. My Ebay invoice which includes the cost of the listing for the Laptop is due the 30th. Which means I will be out the $30 it costs to ship the Laptop and the $18.56 listing fee without ever receiving a dime for my sale.

Does anyone know of a class action lawsuit against PayPal/Ebay for this policy? I would consider getting on board.

Also, where is the money? What does PayPal do with the millions of dollars it holds in limbo? Collect interest on it?

Why doesent anyone from PayPal address these issues and respond to the thousands and thousands of people that have complained in this forum? Or are they to busy counting the money they earn in interest off of your money that hold?

I have one more item for sale and it will be my last transaction with ebay or paypal. Craigslist and Google checkout seem to be the way to go.

[NetSpace]

I'm thinking about canceling this transaction and issuing the buyer a refund and just eating the Ebay listing fee and closing both accounts. I refuse to sell items under these conditions.

Should I issue a refund and ask the buyer to pay with Google checkout? Seems like Google checkout treats their merchants much better than PayPal. Atleast they don't hold your money hostage.

[NetSpace]

My final Ebay auction ended this evening and ofcourse PayPal once again held my funds for no apparent reason. PayPal is now holding $646.07 of my money.

Let me ask you a question, would you ship $646.07 worth of merchandise having never recieved a penny for the items? This is absurd.

Issuing refunds to my buyers knowing I may get negative feedback is far less risky than shipping items I have not received payment for. I will not ship these Items until payment has cleared.

[makoi]

I would ship the items ,make sure you send them conformation,you can print your postage threw paypal for cheap.In the end you will get your money.Ebay and paypal has you by the (!@#*. But after all is said you will be makeing good money on ebay even with the super High fees.

[surplusdealdude]

Let me ask you a question, would you ship $646.07 worth of merchandise having never recieved a penny for the items?

Hundreds of millions of companies all over the world do it on a regular basis.  It's how commerce works.

And you HAVE received the money - it's being held by your agent, Paypal, as a guarantee of your performance.

Once you demonstrate that you have performed as you promised, you'll get your money.

You have 7 days to ship from the receipt of the funds, even if they're held, or the buyer can report you to ebay.

[hbogdon]

You are so far off base here. When I sell my item take it to the post office put confirmation on it, and it leaves my hands I am no longer responsible the post office is. So how can you say that paypal has a right to hold my money. They dont, and even after my package was delivered and I received a positive feedback they were still holding my money until I called them and laid into them and then they released it. They have no right to do this. They can charge there fees for me using there service but the sale is between me and the buyer not them. If I had a company and sold my product and the buyer paid me then I receivee the money I dont have to wait for 21 days to get my money. There getting to big and to greedy.

[makdknife1]

I'll be frank with you.  Sans the fees, eBay and PayPal are cool.  Together?  That's a entirely a whole different story. 

Separate the two and you are okay.  Use Google, you get your money, obviously because it's not PayPal. 

You know...if you have  a good record with ebay, many of the buyers are willing to simply be invoiced by you via PayPal.  This is easy to arrange if you go 'Buy it Now or Best Offer'.   You can communicate with the potential buyer and just ask  'how about I just invoice you for this directly, and we just drop the eBay transaction?'  That way you don't get caught up in this sh*t, plus you don't have to pay fees.  You're good feedback may not mean anything to eBay/PayPal, but it does mean a lot to potential buyers.

eBay/PayPal...I have no respect for them.  They're just as much scum as a mugger, a thief, a lier, embezzler.  They are heartless, soul-less criminals who pray on the vulnerable, which is the typical corporate mentality these days.  Hey...maybe China will create their version of eBay/PayPal.  Bet they'd be more honest and forthcoming than these **bleep**.  I'm seeing our country in an entirely different light now...

[carebear]

did you ever get your money