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!

[skier]

Google the net on "merchant accounts".

Regards,

skier

[Temp20230316e]

Anything! just dont use paypal that is the key

[femsol]

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@Temp20230316e wrote:

Anything! just dont use paypal that is the key

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Try Google Checkout-I use it and very easy--you go through a verification process just like eBay.  There are also no surprises as Google states up front that for 60 days your account  will be placed on a 10 business day hold--after 60 days if your account is in good standing they stop the holds. 

How refreshing to know the specific terms and know what to expect without the vague use of "may decide" or "if in their discretion".  Plus it is google.com.  I also sell on Amazon and their system is so easy, you sell, funds go into your account, you ship in two days, enter the tracking number and I just let Amazon disperse according to their schedule but you can request a payout when you want.

I know there are others--I have seen Paymate.com mentioned many times and understand that is an excellent service as well.

Try using the search tab for the community posts and type in "paypal alternatives"  you will find some more to check out.

[5black4]

 I have the same problem. This is THE way that ebay/paypal goes about it's business with the good sellers. I am a 100% 5 star "dashboard" seller that cares very much about my buyers..they have no control over this policy. They DO have to leave a positive feedback and this is a problem because the seller has to wait until the buyer gets it ..then they have the power to have your money released or not. This takes much time...and we sellers are not wealthy and many times can not wait this long...As you say it is a horrible idea by ebay/paypal.

 It was posted that a law firm Fried & Weiss LLC in Chicago is taking all the information on this huge problem and is looking for a class-action against this.

 I called and talked to Vincent or Julie Miller. Vincent knows about the problem..and many people are calling...this may be the best course of action against this bad..maybe illegal practice. I suggest you call them (313)220-0000 and them them your problem with this "hold" on your funds.

[5black4]

Call Fried & Weiss LCC about this...(313) 221-1161. Ask for Vincent or Jullie Miller......................

[femsol]

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@5black4 wrote:

Call Fried & Weiss LCC about this...(313) 221-1161. Ask for Vincent or Jullie Miller......................

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Thank you for posting that information and it needs to be posted again and again.  I have been involved since January as have others and a website was set up letssuepaypal dot com.  Just last week the registered members on that site were notified by the administrator that  Fried & Weiss agreed to the filing of a class action suit.  I have sounded like a broken record about registering and been  criticized as so many feel it is a waste of time and just makes the lawyers rich.  I don't care about the money end it is principle for me and I want this out in the public--nothing like the publicity of a class action. Check the letssuepaypal site under Contact information and status of case. The forum has been closed for postings due to so much spam but you can still read the history of this class action and what is planned.  I understand there will be commercial and print ads.  Can't wait. 

For those new to these forums do make the phone call as you may not have been aware of the letssuepaypal forum about registering for a class action--numbers of people in the Class are essential and call and tell your story.

Also of note is that this happened to eBay/Paypal in 2002 and settled for millions in 2004.

A site that I get a great deal of information including the international situation in countries where there is eBay/Paypal and many of the international countries are starting investigations as well.

Check it out:  http://www.techinvestornews.com/eBay/page-one.html

Through these posts I have learned so much more about how this company has been doing business and it crept up on me--it is hard to believe that they are trying to control the sellers in  such a way and the fees are ridiculous.

We need to keep supporting this whether sellers have moved on or are still using eBay I personally believe we need to stay active.

[RAC]

I have spoke with a lawyer and they it is unlawful to withhold funds that belong to you i would like my money or paypal is liable for money lost do to the hold. I have been buying and selling on here for years very up set over it

[McCallum]

I completely agree with you. It's embarrassing to have to ask my buyers to leave me positive feedback as soon as possible. I need the money now, and waiting for their feedback or 21 days is just too long.

[Jbrowncalif]

I had called the PayPal customer service and they told me to go ahead and buy what I wanted with the money while it was in transit.  Now my bank account is overdrawn and it will take forever to straighten out what PayPal **bleep**ed up. And my bank is **bleep** with PayPal, too.  Curse PayPal!!!  I will warn everybody I know to avoid PayPal!!!  **bleep** PayPal!!!  I HATE PayPal!!!

[Jbrowncalif]

Oh, I see.  They even have politically correct software to avoid hurting their tender little feelings, when I put a word or 2 there that they don't like.

I meant to say "D--- PayPal! And my bank is very angry with PayPal too!!!"