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!

[Crafty_1-Two]

If you have trouble getting someone at Pay Pal to contact you about a problem that you are having Good Luck!!!!!! Because lately in all my dealings as far as phone calls, emails and faxes most of the people over at Pay Pal don't know what the other has done or said to your (my) situation they have NO names, FALSE names and some with real names maybe, take more money from your personal bank account then authorized to take to make a payment on your Pay Pal Smart Connect account, give you dates you purchased something when you didn't, tell you they have NO Supervisor by that name in India and that you didn't call on the day you say you called on even though you have your phone bill to prove you did, they put what they want in the computer, (pick and choose in your file) as what you have called about, don't read or pay attention to what your telling them or asking them and they deal with Other People's Money, Yours and Mine.  The money amounts that you owe and don't owe don't add up make no sense whatsoever and they do not give an explanation.  I have filed a complaint with the The Attorney General's Office , The BBB, The Federal Trade Commission, The DFI (Department of Financial Institutions for the State of California and the District Attorney's Office in Santa Clara where Pay Pals corporate office is.  It is not fair for our money to be held hostage our accounts compromised, monies being taken out with no authorization, money numbers not adding up or telling you where it went too.  Who gets the interest on the money they hold?  My guess is they do you don't!  When I was told my account was a High Risk they couldn't tell me why or show me unbelievable that they can tell you that they have reviewed your account when they haven't.  This was according to the people who work there that I talked to.  Yet, they don't know that someone else at Pay Pal said something totally different.   It is a joke because of how much I sale and buy for them to even say this, there should be a law and I'm pretty sure there is and hopefully I will learn what it is and so will they and I will not charge them for this.  The people in India, the Philippines and the US that I have dealt with have NO clue what's going on in my situation and they actually answer your letters and emails not knowing what the facts are or what it is pertaining to etc., etc.  I have been told by people that have dealt with Pay Pal that it is an absolute NIGHTMARE dealing with them and this I believe.  If I would have known what they had experienced and what I'm experiencing I would have never applied for a Pay Pal Smart Connect Card or even dealt with GE Money Bank.  By the way you DO NOT need a PayPal Smart Connect Card to buy on EBAY or any  website they all take Visa, Master Card, Discover (some) and American Express.  Good Luck!!!!!!

[liochem42]

Yes, paypal is a monopoly for buyers to pay for items sold on Ebay. Too bad all sellers just can't dump paypal and then instigate the usage of USPS MONEY ORDERS and just watch Paypal scream as much as sellers do when they have their funds on hold. 

[RobLit]

Paypal decided to hold all moneys in my account today, without warning or notation, for 21 days, until they get a tracking# proving that I sent something to someone, despite the fact that I receive payments all the time that do not require items to be sent out.    As such, we have removed Paypal from our websites and wil no longer be using them.   They take far too high a percentage of each transaction, a relative rip-off, and now are holding my funds irrespective of what the payment is for.   We have never had a problem with them.  Never.    Feel free to let them abuse you, or move on, so they get the message that we are customers, not money sponges.   

Boycott Paypal, they will soon withhold your funds!  

[whyte66angels]

People come on  will you please start using your heads. It is so simple! It is NOT PayPal doing this. They are just following orders. It is Ebay and the ONLY way it will stop is if you leave ebay & stop selling there. When they did it to me I refunded everyone there purchase (in Ebay) & closed the door. I then went & signed up on ebid.net and have sold things there & no 21 day hold any more. If you dont believe me try it.  I was an ebay seller & buyer for 11+ years at 100% rating. They dont care because they want the big bucks of China. Ebay is laughing at all of you while they sit back & watch all of you jump through there hoops while they hold your money & make more money with your money. How do you stop them? Show them You are NOT a dummy & leave! Join the Occupied PayPal!

[RobLit]

Dear Mr. Attorney General,

      It is with regret that I inform you of an illegal practice by the Paypal web payment system as used in our state.  

My business has an account with them that we use for various purposes, recieving and sending out payments for various items and services.   We have never had a problem with Paypal or any payment service.  

And yet today, Paypal has decided to withhold funds sent to our account until we send tham a 'tracking number," according thier help line.    We do not, have not, and will not generate tracking numbers.    And what kind of tracking number are they referring to if someone is paying me for a debt?   They are withholding money and demanding something that does not exist to release it.

We consider this theft of our monies, and believe that the law will find as much as well.   We request that Paypal be suspended from doing business until they correct  this practice. 

Thank you, 

[VanceVEP]

I USE to choose PayPal as my preferred payment method when shopping from online retailers, but now, I will pay directly with my credit card. The reason? ebay/PayPals' practice of holding sellers' funds hostage. I have YEARS of 100% positive feedback as a buyer/seller on ebay and they think I should find it acceptable to wait several weeks for my funds? I don't think so. Kiss my revenue goodbye, PayPal! There is nothing for sale on ebay that I can't get somewhere else and for things I want to sell, there are plenty of other ways to sell without ebay!!

[Palivacinni]

I'm afraid I have to agree.  I am having my first experience having my funds held for something I sold ($500) even though the buyer has received the item with verified tracking info and has left positive feedback.  What is the holdup?  Paypal is apparently unaware that it has numerous competitors, some of which (like Venmo) are FREE!  If I had known about this policy change before listing my item on eBay, I would have specified Venmo instead of Paypal, saved myself 2.9% in fees and gotten my money right away.  I'm done with Paypal.

[Annoyedagain]

They are holding your payment and collecting interest on your funds. Interesting how they do not mention this in BIG WORDS when you sign up.  It is in their best $$$ interest to hold your money to keep you from you withdrawing it.  It is interesting that they have less than 100 transactions with me so I feel they should have their fees in Pending until they establish a history of 100 feedback comments with me or until I provide confirmation of getting my service.  They penalize me for delivering 100 percent DSR, why are they not setting the example?????????

After 6 years of 100% feedback, they slammed me with holding my money.  They didn't do this prior, they just punished me out of the blue in October after a flawless history and feedback from customers.  If they had boldly announce this when I signed up and institiuted it then, I would be okay.  They only did this after 6 years of positive feedback (61 feedback currently and 100% DSR).  THEY ARE PUNISHING PEOPLE LIKE ME EXACTLY THE SAME AS IF I HAD NEGATIVE FEEDBACK.   WHY????????????? 

Just like they want to ensure I will provide Service/ funds for any of the customers that I have, they need to prove they will provide the service/funds if they do not deliver for me.  I do not know for sure that they will provide my money. 

Recenty I had a signed confirmation of a $400 Ebay item on 11/12.  supposedly they tell you they release the funds within 3 days of confirmation.  NOT TRUE.  TWELVE DAYS LATER I NEEDED TO CALL TO "COLLECT" MY FUNDS AND DEMAND THEY RELEASE THEM.  i SHOULD NOT HAVE TO DO THIS!!!!!!!!  THEY NEVER EXPLAINED WHY THEY LAPSED ON THIS

Their DSR with me is poor and not acceptable.  Why don't they practice what they preach and hold their funds?

WHY DO THEY NOT RESPOND TO EMAILS????   They send an automated response with nonsense and even if you reply back per thier directions, they did not respond to me.

[chimom69]

Automated response ha ha they never get back to me either ,as far as paypal,after I'm done with them,that's it,I have excellent feedback,yet they hold my money,I can't even shop online,because,they are still holding my funds.Great way to treat your customers.IM DONE

[chimom69]

 The mobile payments space is set to explode as more an more players join the fight. Frankly, the big guys like PayPal, AmEx, BOA, JP Morgan and others won't be the winners. It will be the simplest and most creative start-up who is willing to go against the giants. Innovation!