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!

[raemad]

I just read the fine print-they can hold our money for UP TO 180 days if they want! Isn't THAT just spiffy! I don't know about you, but that would put an end to the world as I know it....I am going to be in very dire dire straights...I DO have a son who is a lawyer-REALLY I DO!!.(I will not ask him for money however, and I very rarely ask for legal advice),  BUT I will ask him if they can do this- I usually don't like to ask him my dumb questions when he is working so hard at real crime problems..However..I think this MAY be real crime..although I have a feeling they have a team of lawyers that could stick anybody away forever just for jay walking, and I bet they know how to do what they are doing AND follow the letter of the law..or the loop hole letter or whatever..I will check though..maybe there is SOMETHING we can do. I dont know about you, but I am SCARED-as well as " Mad Rae "

[raemad]

BECAUSE THEY LIE AND THERE IS NOTHING YOU CAN DO ABOUT IT!  ACTUALLY way down in their site, 2,000 pages in or so,  they put the fact they can KEEP YOUR money FOR 180 DAYS (!!!!) This occurs when their " might-be-bad-or-up-to-somthin' -they-dislike" sniffing-dog/robocomputer/mechanical spy; points in your/my/her/his direction(s).  It is stated in the teeny weenie itty bitty print. It is placed way deep down in the pit of the cold dark bowels inside the purposefully HUGE web site. There it says they can basically do what ever they want...It wispers it in the places we never read..Go figure..Just usually they don't USE these draconian despicable measures, I guess because they USE to feel it may be bad for business! But now I fear we soon may all become "bad-stuff-sniffing-DOGGIE" BITS...They obviously no longer CARE if it might put a slight damper on biz...I guess they finally said "**bleep** with the biz-let's chew 'em up Fido!" GRRRRRR..no where to go....what a nightmare....They are just gonna keep our money...no where to go......

[Justpayallready]

Tell you what, this is my first experience with paypal and my first  E-bay sale. And I for sure will close this B.S. Paypal acount and sell via craigs list instead. This is the biggest bull squat I have ever seen dropped on customers ever. These people so called PAY PAL (of which I will close my account after i finally get my lousy 150.00 i sold my item for on ebay.,are nothing more than a middle man vulture operation. Taking your money and investing or playing /gambling with it for 21 days with banks or other types of investments totaling in the millions of dollars while the little guy trying to make a little money or the small business person not even using e-bay yet using pay pal is taking a hit as well and sufferring
finacial need while Paypal execs are having a party playing with our money. Pay pal should re-examine their bussines practices and policies or they are going to loose a lot of members soon.
 And heres the worst part ,stright up they **bleep** there's not even a live person to really talk to that will give you a valid reason
for this WALL STREET BANKER INVESTOR DRACONIAN TACTIC AND POLICY. I will definetley close my account before they start making us wait 90 days for our money.

[lilskul]

I have the same problem except this is the first time, out of my may transactions, that they decided to hold my funds. 
I don't know why this happened but it definitely happened recently considering I just withdrew money about a week or two ago just a day or two after it was sent.

Shouldh't they have to disclose a change like this?

I am really disappointed in them and may have to avoid using them entirely.

[wingirl]

I ALSO AM STARTING TO THINK I MAY GO WITH SOME OTHER COMPANY. ITS FUNNY WHEN THEY HAVE TO TAKE THERE MONEY IT COMES OUT INSTANTLY, BUT WHEN THEY GIVE YOU A DATE THAT YOURS WILL BE RELEASED I NEVER GET IT ON THAT DAY. I HAVE TO KEEP CHECKING BACK EVERY HOUR .THIS IS GETTING TO BE CRAZY NOW!

[Creativeseconds]

With the new PayPal BS of holding money for 21+ days...How about the sellers inform the buyer that we cannot ship the item until payments has cleared..That makes more sense to me afterall, E-Bay and P[ayPal survive from seller fees, not buyer fees. It is not fair to hold the money we use to ship, pay for our subscriptions, and replenish the stores we have.  

[HonestGail]

My buyer claims PayPal is holding her $ (for me) and that I will get the $ after I send $400 to Western Union for shipping (or something like that).  I did get an email from paypal .com saying you are holding funds from the seller.

Gail

[tr4driver]

I just discovered this "new" policy.  I'm not a big eBay seller, but I sold several items a few months ago, and funds were available immediately.  When I saw the dreaded "funds pending" message this time around, I didn't think much about it, because I assumed funds would be available 3 days after delivery was confirmed (per the message).  However, the estimated date for the funds to be available has come and gone, and I still don't have access to my funds.  The buyers on the other hand have full use and enjoyment of the items I shipped.  How exactly is this fair???  Safe to say, I am through with PayPal.  When (if) my funds clear, I will close my account and find another way to accept payment *if* I ever decide to sell anything on eBay again.  What a fiasco.

[raemad]

Not only can they hold them for 21 days, but in the finest of fine print it says-they can hold them for 180 days! ONE HUNDRED AND EIGHTY DAYS! HOW CRAZY IS THAT!?   You are lucky, I WAS going to try and earn a living from my profits on eBay..But I will certainly have to go SOMEWHERE else now! I just can't believe it! Why are they shooting themselves (and all of us), in the foot like that? OR should I say head! My gosh..I just don't understand!  If you have any eBay alternatives PLEASE let me know-I am getting desperate-waiting for probate, (my WONDERFUL BETTER HALF JUST died, and I feel like half of me is gone..So sad and worried as it was), I also just got laid off from my job right before that and now my funds are almost gone! Any suggestions??? I have never been so afraid or felt so helpless and fearful of the future..Maybe there will be a silver lining.........

[Floored]

       I certainly agree.  I can't believe that this practice is even Legal.  No Interest.  No warning.  No good reason.  I have never in 13 Years had this happen.  I have done nothing to evoke the suspicions of Paypal; assuming they REALLY believe there is a potential risk involved with the Sale & Payment of 3 Ball Point Pens, and a Marked Sterling Brooch.  A Two hundred dollar Hold.  I, too, need the money I EARN  from my Sales.  I was maneuvered into only accepting Paypal as an intricate part of the Ebay Buying and Selling experience.   I was coached into believing PayPal is the Most Beloved way to get and send money. What is beloved about keeping what is not Paypals?  What is safe about not being able to access my own Money?  Paypal "Holds"  lets me know I have nothing better to do then "Give" them my Money.   Releasing what I have already Earned after whatever period of time they see fit, is like "sleeping with the enemy".  I read many times where the 21 days slips by and no money is returned to the "usable" Account Balance.  I am seeing Folks quit PayPal,(and subsequently Ebay), for this, and this practice only.  What Business model are they using, that dictates alienation of their Customers, and  Dictates Seller Policy to Ebay.   They are, by all accounts, separate entities.   If Ebay believes a Seller to be a potential "Threat" to Buyers, they can use appropriate measures to circumvent any issues.  Paypal has no right to sanction Sellers in this way, by keeping Money they are "Safe guarding."  Can they imagine a Bank telling a Depositor their money is being held in case someone "down the road", disputes him  saying they are owed money, so it has to be available for the eventuality?   Surely there is a remedy to this problem. Grin and Bear It seems   wrong  to Bite this Bullet.