HORRIBLE IDEA TO HOLD FUNDS FOR 21 DAYS!!!

gearhed78
Contributor
Contributor

  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!

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Miked2345
New Community Member

They just started this with me too.... I've been buying thru Ebay/PayPal for several years, and started selling my son's used college books on Ebay a few years ago, after he finished each semester. I ALWAYS ship the next day, I have a 100% feedback rating, and never had a complaint.

 

I sold 2 books a few weeks ago, now with the sale of my 3rd book last week, suddenly PayPal says from now on, I'm on the "money hold" list!!

 

I don't have any idea why the sudden change... Perhaps PayPal is short on cash so they are using our money?

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tr4driver
Contributor
Contributor

Call them.  Be polite, but persistent, and insist that they tell you why your account has been flagged as a high risk account.  At first they'll give you some BS about a new policy.  Explain to them (politely of course) that the policy as outlined on their website indicates that funds will be available immediately unless your are considered a high risk.  If you have not had money held for past sale transactions, again insist that they tell you what has changed regarding your account that it is now flagged as a high risk account.  The first person you talk to will likely not be able to tell you anything.  Ask to talk to a supervisor or someone who can help you.

 

I managed to get the hold taken off items that have sold since my call to them last Friday.  Unfortunately, they are still holding money from prior sales that have been shipped.  I was told on Friday by the customer service representative I spoke with that my account looked fine and that he would submit it for re-evaluation.  He said that process would take 24 hours.  It's now been well over 48 hours, and the hold is still in effect.  Fortunately, it seems money from future sales will not be held.

 

Again, call them.  Don't just email them.  Emails are much too easy to answer with a simple canned response.  Remember, you are the customer and you are the one paying for this service.

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frightnight2011
New Community Member
Yeah, me too. I have had this problem with them holding my funds temporary. I have had call them several times to get my funds released into my account. Paypal's new policy really **bleep** and it's bunch of BS I think. This is not fair to the seller or buyer. It's stupid.
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edmkm
New Community Member

Just  got  the email that funds will be held for 21 days on any sale I make. I only have sold on eBay, I have 100% positive feedback. The letter claims that after review, I pose a "higher then average risk" and that they want to maintain the money in my account to cover potential claims- BS.

 

I have filed claims against sellers and the eBay "Buyer protection Program" is a farce-

So- eBay and Paypal are going to get what they are asking for- I'm not selling anything on eBay any more- problem solved.

And by the way, try and email anybody at eBay or Paypal- you can't, they don't want to be bombarded by negative feedback on their service.

 

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dherbert53
Contributor
Contributor

I am sending all of my buyers this message:

 

"Thank you for your payment. Paypal is (inextricably) not releasing your funds to me for several days, and as a consequence, I cannot pay for postal fees until funds are transferred from my personal checking account.  I will ship as soon as possible and apologize for the delay. I assure you that I, and many other Ebay sellers are vigorously objecting to Paypal's action in regards to this matter, so far without success.  Yours,  Deano"

 

Plus,  I am getting condescending messages from both Paypal and Ebay when I log in.  I've just about had enough of both.

 

Deano

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Mackavelle
Contributor
Contributor

I am in the same boat I have packages that need to be shipped out however Paypal keeps making  charges to my checking account without my knowelge and causing it to go into overdraft now its costing me money and endless phone calls to Paypal and E*bay which are the same company and everyone of these reps had something different to say about this problem one even told me to go and borrow the money from someone. I shoutd"nt have to be put in that situation especially when they are holding almost 200.00 of my dollars and my bank account is overdrawn due to their pending balance policy my conclusion is that they are all liars this can only blow up in their face eventually like Research in Motion they will start losing customers and last I heard its just plain bad business practices.

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Floored
Member
Member

          You are correct.  I tried MANY times to Email Paypal.  Mysteriously,  they were not able to be forwarded.  Hang in there, though.  I feel a change in the wind.  Or maybe that is just the sore getting larger.

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temp01192012z
Contributor
Contributor

Why are they penalizing sellers like this.  I've been on eBay for 14 years and now they are holding my money for 3 weeks? And all a buyer has to do is say the item wasn't described correctly and they immediately take the money back out of your account? What **bleep** from holding everyones money for an extra 3 weeks!!

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jthendry
New Community Member

I have been with Paypal for about 5 years.  We attached a Virtual Terminal to our account about a year ago.  Paypal has been holding 30% of my hard earned money for 90 days in their rolling reserve scam.  I have never had a chargeback!  I will go out of business if I stay with them.  The 30% is all of my profit and I cannot grow my business with Paypal.

We recently set up an www.authorize.net account.  No more "rolling reserve" crap.  I am totally disapointed with Paypal.  I used to think that they were great and I liked not having a bank account with a standard bank.

I called the Paypal people and talked to them many times, but got nowhere.  We still use Paypal, but we are getting ready to leave.  I will never be back after this.  Goodbye Paypal!!!

 

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mcshooter51
Contributor
Contributor

I know where my money is..frozen in the acct. for 21 days and I have not done anything wrong.I am getting really freakin' tired of paypal's bs.limitations that are lifted and replaced,I make money from ebay and it goes into paypal but the little red box says from now on any money recieved will be held for whatever excuse they use like in case the buyer has a problem.Well I have a problem with you people keeping the money I,not you,I worked for.After the 21 days is up good riddance paypal,I'm sick of your bs when I have done NOTHING wrong and I'm not the only one with this problem,just not scared to speak out about it.The excuses are pathetic when I call and actually speak to a human.I may call and cancel my acct instead of doing it online just so I can have the last word.Yes,I am **bleep** with good reason:)

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