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!

[pam2271]

OMG!!! Who do these people think they are. They locked up my money cause I hadn't sold anything in a while, so I had to pay for the shipping out of my pocket so I could get my item out on time. Great way to do business Papal. My buyer has already put up great feedback and gotten their package. BUT STILL NO MONEY!!! This is not right!!!

[Crafty_1-Two]

I'm sorry to hear about that PayPal takes lots of liberties with other peoples money, just think if you took one million people and times that number by $20.00 in their accounts do you know how much money that they have that they make interest on and then the nerve to make you pay them interest it comes out to be $2,000,0000.00 and you know that there a lot more people that have a lot more money. Send your complaint to The District Attorneys' Office in Santa Clara, California where PAYPAL is located.  Also, keep all your information and send copies to the agencies listed file complaints with The Justice Department, State Department of Banking, "DFI" Department of Financial Institutions, The BBB, The Consumer Affairs Department for fraud and unfair business practices.  Its faster online and for the ones who can't send it email get sent regular mail or faxed. If you can't get in contact with the other people, you might want to Face Book them.  My "MESS" started in October 2011 and its still Morphing into what I have no idea I still send all my information to the District Attorney's Office along with the other agencies. If you get someone to give you a name good luck on that one 98% give no name and the other 2% give false names as I have found out  along with non igissistant supervisors and they ALL use Form Letters as I have found out and that is why they can't get the story straight and answer the questions you are asking them! They will get competition if the story in The Wall Street Journal actually happens with the other banks and they are going to make what happened to Netflix look like Child's Play.  You don't treat customers like this and hold their monies causing them to lose customers, having to wait for money, making money on their money and then charging us interest,etc., etc.,  Well, at the rate "The Big Three" PayPal/PayPal Smart Connect, GE Money Bank/GE Capital Retail Bank it's easier to type them this way you only have to do it once, and besides I have a life and don't have the time keep writing them in each time I mention them in correspondence.  I hope "The Big Three" get prosecuted to the fullest extent of the law because they deserve it. You can't operate like this especially when money is involved and believe me none of my numbers add up in my PayPal Account that deals with money in the billions.  They have treated us customers like C*((&& I hope they get taken down by the proper authorities you don't keep records like this when you deal with money especially other people's money. Go and read Horror stories in the water cooler community there are many.  Good Luck Crafty_1-two

on their the seller  Good Luck Crafty_1-Two

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pam2271 wrote:

OMG!!! Who do these people think they are. They locked up my money cause I hadn't sold anything in a while, so I had to pay for the shipping out of my pocket so I could get my item out on time. Great way to do business Papal. My buyer has already put up great feedback and gotten their package. BUT STILL NO MONEY!!! This is not right!!!

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[buzzard15]

my money was supposed to be released today but ofcourse its not.  My item that I sold was delivered and positive feedback was recieved but they are still holding it!

[mdejno1]

I sold my third item this week I have over 600.00 pending I have been a member for years I have 100% feedback on ebay I'm verified and back my account up with a card, They must be making millions of dollars in interest hold our money, Can this be legal?

[givememymoney]

I'm sure it's legal in the current economy as crafted by our loving corporate-controlled cronies. I'm suffering the same malaise, and I'm positive it's unjust; and I'm positive it's legal.

PAYPAL **bleep**S ITS SELLERS OVER TO SIPHON OFF THE INTEREST--USE AMAZON INSTEAD!!!

[Hrzn91]

My funds clearly state they should be released TODAY 11/25/2011, yet I still have no access to them. I was going to use some of this money to buy people gifts for black friday, but even though I sold MY item over a month ago, paypal is still holding onto MY money, even after taking fees from me. this is ridiculous. 

for those of you that have had your funds held and it said that the money would be released on a specific date, does it usually release maybe later that day? or could I likely end up waiting days if not weeks for this money? if so that's unacceptable, this is such a poor business practice. I can see if it's like $1000+ transaction or something, but mine isn't even that much, and yet they won't release it like it's suspicious or something, so annoyed right now.

[Anthony865]

I am in the same situation now and I am BEYOND **bleep**. It is NOT fair for me to ship my item and they receive it and days later im still sitting here without the funds. this may be my last time using paypal. This is not a trial period...i want my money...yesterday..

[Trina8]

From my understanding you get your money released much faster if you provide them with a tracking number showing you have shipped the item. This has stopped a lot of bad sellers from accepting money and not shipping the items and buyers getting their money taken and no item received. I personally don't list anything for sale that I don't have the money to ship right away.  Ebay has turned into a job for many people and like most jobs you get paid after you have completed the job. Believe it or not this has been put in place not only to protect sellers but also buyers. It protects sellers from buyers saying they never received the items and it protects buying from not getting their items. Unfortunately a lot of Bad sellers and buyers have made it where  Paypal was forced to hold funds until items was shipped. BTW I'm not calling anyone in this thread a bad seller , I'm just saying bad sellers and buyers are the cause of this. Always Always get tracking and always update it right away on paypal showing it has shipped.Also remember that it takes longer for a e-check to clear from 4 to 9 days depending on where it's coming from and the money won't show up in your account until it is cleared.

[Peggym000]

I understand the "trying to protect" customers but when everything is done how like it states our money should be available. I sold 3 items all of which I printed the mailing label from eBay with a tracking number which all 3 have been delivered (confirmed) and my money was suppose to e released today ad still has not. This "protection" seems to be only 1 sided and completely unfair. If this is how it's going to be then I won't be sellin on eBay anymore.

[mrcs4u]

I agree that there should be protection for the buyer and seller, but how about the individual who sells an item for local pick-up only, there's no tracking number or shipping label to print.  PayPal was contacted as well as Ebay and the only thing I got was a patronizing comment from a woman.  The item sold on Dec 9, 2011, the person picked up the merchandise and now I have to wait until the 30th of December for my money.  Tell me how I'm protected?  Ebay got their listing fee, PayPal was paid their fee, the individual received the merchandise and I have what?  3 weeks to wait for my money, that's the bottom line.  Completely unacceptable!

I received an outstanding feedback from the buyer.  After being a member for 12 years I still have a 100% rating.  When you look at the criteria for the seller, the only issue that I don't meet is not having sold more than 25 items.  I'm a buyer mostly not a seller!