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!

[jmacv12]

IT IS A SCAM LADIES AND GENTLEMEN!!!!!! IT DOES BENEFIT FOR REFUNDS AND CUSTOMER SATISFACTION HOWEVER THEIR ARE MILLIONS OF DOLLARS BEING WITHHELD WORLD WIDE BY PAPAL AND THEY RECEIVE INTEREST FOR HOLDING OUR MONEY AND THEIR COVER IT UP BY CLAIMING A COUPLE OF BENEFITS... WHY DON'T WE EARN THE INTEREST??????? I'VE HAD A REVOLVING $1000 IN MY PAPAL FOR ABOUT THREE MONTHS WITH NO INTEREST..... SO WHO GETS THE INTEREST???? THEY DO!!!   

[midwesterner]

Who is the genius that decided we now have to wait up to 21 days for our funds. I started last september, jumped thru all their hoops, established a good solid sale and feedback record. I did everything they asked. FINALLY, they began to give me prompt payments, and i thought "okay, this is more like it"

Ha!! This morning I get an e-mail from paypal informing me that they are now "temporarily" going to hold my funds for up to 21 days. I jumped on the phone and everyone i talk to has a different reason for it.

Seems to me that maybe our "pals" at Paypal have got themselves in a cash bind (??????), and need to hang on to our money in order to straighten things out.  Or am I just being a paranoid old fool??

I have a perfect sales record and feedback, no complaints from my customers, yet I get this crap treatment. Well, what are we going to do fellow users?

Does anyone remember how Bank of America got their hands slapped just a few weeks ago, or  Verizons attempt to steal money from their customers with phoney billing charges?  What do you folks out there think?

[raemad]

WHAT CAN WE DO!? THEY STLOE OUR MONEY!? SUE THEM???????????????

[tiredofscams]

I'm sick of rip off kings such as eBay, paypal, bidz, etc. etc. Today, my customer snt payment for merch. Paypal says they received funds, but would hold mine for 21 days. BUT, if I ordered a shipping label my funds could be immidiately accessed. If you don't read carefully, it sounds like they will free up your paypal funds, IF you buy a shipping label. Accually it means eBay and paypal will access your funds for THEIR money, I...the little guy.....will still have to wait 21 days for MY funds. How can the funds be there for them, but not for me or my distributor? CRAZY! So anyway, they have took their fees, and eBay has took theirs, and I plan to refund my customers money, and tell my customer the situation (HOPEFULLY they will tell their friends and bloggers), wait my 21 days, get my funds (with no interest, but I'm sure they get interest while laying there) and be done with the rip off kings. My they prosper and enjoy their ill gotten gains from future customers(?) (trusting soles(?) victims(!). NO MORE FOR ME!!!! Once bitten, twice shy. OH! Buy the way, I didn't need the "five dollars plus" shipping label. My distibutor takes care of that. Just tried to access my funds like Ebay and Paypal did.

[frank0830]

Good bye ebay. Ive been doing business since 2003, 100% perfect feedback on both ends, thousands of dollars though paypal for varius transactions and this is how you treat me? Because I don't meet your "seller ranking" I will take my business to craigslist, amazon, "garage sale" type websites or forums. 

You have made it horrible for the small guy to sell anything on ebay anymore. I hope you are making plenty of money by holding my money from me. Don't treat the honest like the crooks. 

Another question, why must I use the worst shipping company ever, the government, to create a shipping label with, if I want my money the fastest way possible? 

Your services have become horrible. 

[jrwelcker]

Believe you me, they are. Billions!! Paypal is part of ebay. I don't see why this's got to be done. Terrible. I agree with you. Nuff said

[FoxyB]

I'm irate. Several months after opening my account I sold a handful of things on ebay. The first few sales were fine - paypal posted my money immediately, the item was shipped immediately, and the buyers all gave me positive ratings. After the sale of my most recent item, I log onto paypal to find that my money is being held hostage in "hold" until paypal verifies the buyer has recieved their money. Troubled, I did a little reseach as to why this might occur. I've had no disputes, and no negative feedback from the buyers.

My research OUTSIDE paypals official site tells me that paypal will run credit checks on their customers, then flag accounts based on their findings. This is the only reason I could find for quite suddenly being treated like a scam-artist or child by paypal. I called their customer service and I was very nicely told that this was very common for new sellers and it was meant to protect buyers, however it occurs to me that if this is a policy for new accounts it ought to have been like this since I created my account.

Although I disagree with paypal running credit checks on their customers, I understand that many businesses practice this sort of policy. What angers me is being discriminated against by a for-profit company based on the results. Paypal needs to understand that customers are what drive their profits, and treating them like criminals based on a credit check is immoral, and just plain bad business. A for-profit company needs to earn the trust of their customers, and not vice-versa. As soon as paypal quits holding my money hostage for an item I mailed as soon as it sold, I WILL be closing my account and telling everyone I know about this foul, unprofessional policy.

[4byparts]

You can thank Paypal's new policy for that. As sellers, we now have to wait up to 30 days before Paypal releases the funds to us. Depending on the seller, some may choose to ship the item anyway, and hope the money gets released; others, like your seller, might choose to wait until the money clears before shipping the item. As much as its inconvenient, I really don't blame them. One thing though- did the seller clearly state this policy in their listing?

One of the problems I see happening is the inability for buyers to be able to make a claim against a seller. I believe there is a limit for a buyer to make a claim...is it 30 days? Not sure. But if it is 30 days, and the item doesn't even get shipped for 25 days, there is a good chance that you won't even receive the item in time to make a claim if the item isn't as described. You might want to look into that.

[4byparts]

By the way- Instead of either of the two options I mentioned above, as a seller I am chosing to not list any items until Paypal changes this policy. I won't take a chance of possibly not receiving my money...or even just having to wait 3 weeks for it; and I'm not going to make a buyer wait that long.

[MaineGirl]

I couldn't agree more!!  I just started selling on eBay and never realized that this was standard procedure apparently since April of 2011??  I am so very upset at this.  I have quite a sum in my Paypal account that I cannot even use!!  Although they will immediately release funds to pay for shipping of the order.  I have 3 transactions that the buyer paid immediately, I shipped immediately and they have received my item AND left positive feedback and I still cannot access my funds.  This is absolute horror.  Paypal is making a bundle on collecting interest on OUR money that is just sitting there.  They do the same with the Balance Transfer.  I used to deposit my entire paycheck into my Paypal account and would have to wait an entire week before I could use it!! Ridiculous..