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!

[Rachar124]

Again i agree. this is a crime. there witholding our money. I can't even ship items to people because i wasn't warned or never saw this was going to happen.

 Go here and blog there sorry **bleep**.

http://www.theinternetpatrol.com/paypal-withholding-funds-to-ebay-sellers-for-up-to-21-days/

 Knowledge is power, and the more people that are aware of this the more paypal will be hurt and hopefully change.

[msb65807]

I recently had a hold that failed to clear a week after positive feedback had been left. It was a small item that was mailed first class, so there was no delivery confirmation. I finally called Paypal and, through the phone prompts, was connected to an eBay rep. He said he thought PayPal had recently changed their policy again. After consulting a PayPal rep, he came back on the line and told me that since sellers were requiring buyers to leave feedback up front so their money wouldn't be held, PayPal would no longer release funds based on the buyer leaving positive feedback. He said the funds will now only be released before 21 days with delivery confirmation. Needless to say, I asked to be transferred to a PayPal rep who received an earful of screaming expletives for a good five minutes. By definition this is extortion and, at least at the moment, it's apparently perfectly legal.

[jkimbrough05]

Paypal was the way to go for selling on ebay. Now they are scammers too. I will go back to money order only or no sale

[sickofthissite]

The whole point of Paypal was so sellers didn't have to wait for checks and money orders in the mail and for checks to clear....your money was available immediately! NOW theres absolutely no point in using them!!!

[jskess003]

I totally agree with that. Shipping charges have to come out of my pocket every time I sell something, then I have to wait 21 days for them to transfer funds. Then it takes 3 business days to clear into my bank. Paypal is a financial service, they have no business as arbitrators between buyers and sellers. So, next time I sell something, the buyer can call Paypal to ask where their items are. The answer will be that the seller is waiting for Paypal to clear the funds.

[Nehmo]

I absolutely agree. I just discovered the hold policy today via my email inbox. It sounded so stupid and unlikely, I thought it was a phish. So I opened a sparate tab and went to PayPal. Sure enough, it's real.

I'm on the phone right now to PayPal on hold. We can't accept this rediculous policy. I'm not going to use PayPal or eBay untill it's off. 

[ILoveMoringa]

PAYPAL - Could you have selected another time, instead of right before Christmas?????

For pity's sake, of all of the times of the year, to squelch your sellers' funds! Have you no business acumen, at all?

There are many, many people who count on their holiday sales, to get their bills paid. We give YOU instant access to OUR funds - and you have arbitrarily decided to put a HOLD on them?

Talk about a poor business plan! How many of us need to complain to you, call you, coax you, to release seller's funds?

This is totally UNCONSCIONABLE! Nowhere, can one find over 500 pages of complaints from buyers, that they have not received their goods, yet there are almost 600 pages here of complaints from sellers, that you are putting their funds on a 21-day hold.

PayPal - is this a policy that made you the giant that you ARE? Certainly not!

YOUR TIMING, IS ATROCIOUS!

YOUR SILENCE, PAYPAL, IS DEAFENING!

[UnhappyPPAd]

If you think  holding your money is bad  wait until you   try to   balance your statement!   They  turn the one  transaction into  5 line items and for some reason  get  the shipping  charges  involved.  It totally messed up my  bookkeeping system,

 It appears that  eBay and PayPal have totally lost touch with their seller customer  needs, 

I am seeking an alternative.  I have found one   for some specialty items that is excellent.

[Newestscam]

What have you found? I'm looking for an alternative also.

[customer1]

I am really upset with this new policy. I have a 55 perfect record. I am now subject to getting my money with held. I will no longer sell on e-bay. I sent a copy of their letter to the Vt States Attorney general to check on the legality of this policy. Pay pal will not pay the seller interest for the time the money is held. I suggest for all to consider the option of taking pay pal to their local small claims court to recover interest lost even if it is only 10 cents. I think this would terminate their policy immediately. Pay Pal will make a fortune with this policy and once again the seller is punished. I could understand if they did this to sellers that have a bad track record but people with perfect records are getting punished. Please forward the e-mail from pay pal to your States attorney and question the legality of the policy and notify pay pal of the possibility of small claims.