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!

[4byparts]

I just received the e-mail many others have about Paypal now holding funds for up to 21 days. At first I thought it was a spoof mail, but now see its real. I almost exclusively use my business Paypal account for ebay purchases and sales. I have 602 feedback, shown as 100%, with only one negative from several years ago- a foreign buyer who refused to pay the extra $5 to cover shipping to Canada, which was clearly stated in my listing. I have refunded money a couple times, VERY promptly, when there were any issues, which still resulted in positive feedback, without need of Paypal getting involved.

I'm just a small, part-time seller. I can't afford to have my money tied up for up to three weeks. I'll give Paypal 30 days to change this new policy, during which time I won't be listing my items for sale. If this policy isn't changed within 30 days, I'll be closing my Paypal account. I'm sure I won't be alone, as I've read several complaints already posted in the forum.

Please come to your senses and get rid of this joke of a policy. You are only hurting yourselves.

[Sade]

I completely agree with you.  I have 300.00 held up by paypal because I'm an occasional seller.  I have to print out a label from Ebay - and then wait 3 DAYS AFTER the person receives the item, before I will be issued my money. Are you serious?!  I called paypal and told them I will no longer be doing business with them.  This is complete and utter BS - considering that if you're an occasional seller, you don't have time to wait around on your money. Occasional sellers list stuff because they NEED the money. 

[jillian17202]

I completely agree! I have $129 in total sales and have only been able to withdraw $33. I do not think this is fair. Some of the items I have shipped have been delivered to where they were supposed to go and the transaction is STILL being held. I guess I can understand up to three days, but this is not right. The person paid, I sent the item, and Paypal is keeping the funds?? I am a single mother of 2 who works a full-time job for barely enough to get by. This was supposed to be my saving grace. So far, that's not happening.

[girtisholland]

The best way to get the funds released fast is have the buyer leave feedback on the item. Everytime I had money on hold and the buyer left feedback the money was immediately released instead of having to wait 21 days.

[4byparts]

And how do we fund the shipping? With the old method, I used the buyer's actual money to ship the item. I mostly sell auto parts, some of which can be costly to ship. I can't afford to shell out a couple hundred dollars of my own money for shipping for a batch of items while I wait to be reimbursed.

I'll turn to selling on Craigslist instead if Paypal doesn't eliminate this new policy. It was bad enough that paypal and ebay were both badly slanted to protecting buyers more than sellers, but this is rediculous.

[bgolfv]

In reply to girtisholland on how paypal releases the funds after a positive rating from the buyer has been received. This not the case for me the buyer left positive feedback 10 days ago and still nothing. I think this is just a ploy for them to use your money for their profits.

[SkiBlue]

I'm in agreement that I won't be doing any business on Ebay or Paypal until the hold policy on my account is removed.  I only sell once in a while.  I have 100% positive feedback, and have had to do 1 refund, which I took care of even though the buyer's strory was a little shady.  Does Paypal do anything at all to protect the seller?  It seems they want someone to ship an item they sell, right away, even though they're holding the shipping cost for 21 days, not to mention the fees Ebay and Paypal take.  Hmm, I wonder if Paypal will wait 21 days before they take their fee?

This really bothers me, and unless it's changed I'll be cancelling my Ebay and Paypal account.  Niether are anything I can't live without, and on top of the fees, the payment hold policy makes me feel like I'm not trusted or wanted anyway.  No biggie, there are plenty of other places to buy/sell and ways to pay/receive money for stuff. 

[a_Loser]

I too quit ebay and paypal over this, it is ridiculous and unfair. I could see if a new customer, but I had my accounts for years ( since they started up) and this policy is a slap in the face to honest sellers.

[Cliff001002]

I'm not even using eBay and this is complete BS. I run a game server, allowing players to play together online. I accept donations in exchange for extra items and abilities in the game. I don't do shipping, I don't get feedback, I don't do refunds. All items are delivered instantly through our automated system. We are looking to upgrade our server, but we can't be sure that we can pay the bill if PayPal is going to keep our money for most of the month. I wish that, at the very least, they had an option where you could contact them and tell them your situation and maybe get this policy lifted on your account. This is extremely frusterating.

[effreyjsioux]

This is totally a bull**bleep** policy...I dont sell very often on ebay..(about 2 times a week)..And paypal holds my money for up to 21 days...I wonder how much money Paypal makes on the millions of dollars they hold from their members for that 10-21 day timespan..Paypal doesnt give a **bleep** about customer service or what we think of them for holding our money...Thay can kiss my a**...What a total bunch of **bleep**!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!