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!

[Adissatisfied1]

Well after the buyer of my item placed positive feedback on EBay, I got an email instantly, or well I guess it was instantly. On EBay it said the buyer placed the feedback at 5:56 PM and I got the email from Paypal stating the hold was off my money a few minutes after 6 PM. Now it's pending 3 to 4 days to hit my bank. Yesterday I hand delivered my item because I wanted to make sure the buyer was going to approve of the product I sold him in person. Well it worked out for me because the price I asked for shipping cost was more then the price of gas to deliver and my wife & I wanted to take a trip to the Coast anyway. I know that won't happen with 95% of all you other sellers out there but I'm telling you if I would have had to wait for 20 days I would have been seeking legal services. I did write a letter to King5.com (The Problem Solvers) and told them what was going on with Paypal and EBay though.

[femsol]

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@mypatch wrote:

I think we should hire an attorny and file suit against them.

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Please, Please, new posters-read back a few pages--or type in class action in the search and you will find attorneys are involved. Specifically you will find several posts including one of mine that provides all of the info and contact info for the Chicago Law Firm that will be filing the class action.

This is not a new idea after  150 pages--it has been on going,

[RodR]

Interest, money. Cash. That's what they see you as. Not humans.

Shame on you, PayPal. You used to be about convenience.

GUYS - JUST SELL YOUR STUFF ON CRAIGSLIST - No commissions, and you get your money right away.

[femsol]

I have been supportive of this issue for some time and post links and news to read--not sure everyone bothers to read the news or not.  I have suggested this before and I have not read a single post in return.

Now Listen if you are interested in trying this theory then  I am going to only post this one more time.

First enroll in PayPal's money market account:

Put your money to work for you. With the PayPal Money Market Fund, all you need is a balance to start earning a rate of return.
Withdraw your funds at any time
No minimum investment
Managed by the experts at Barclays Global Investors-- This is not controlled by PayPal in anyway--it is a security with a prospectus and run by Barclays.  I have been in the money market for years and the interest earned is insignicant buymy funds were only held for a short time in January and then released without me doing anything.

                                       Why is this important?

Paypal cannot touch your interest per their user agreement.

5.3 Money Market Fund. You will not receive any earnings on the funds that PayPal handles for you unless you enroll in the Money Market Fund.
 
If we believe that one of the sole purposes of this is for ebay/paypal to make money on our held funds  by collecting interest then this would prevent that occurence.  In my opinion this is worth trying.  You might just get your funds released and be safe for future transactions.
 
If you try this please post if and when anything happens negative or postitive. Nothing ventured nothing gained.

[femsol]

Now Listen if you are interested in trying this theory then  I am going to only post this one more time.

First enroll in PayPal's money market account:

Put your money to work for you. With the PayPal Money Market Fund, all you need is a balance to start earning a rate of return.
Withdraw your funds at any time
No minimum investment
Managed by the experts at Barclays Global Investors-- This is not controlled by PayPal in anyway--it is a security with a prospectus and run by Barclays.  I have been in the money market for years and the interest earned is insignicant buymy funds were only held for a short time in January and then released without me doing anything.

                                       Why is this important?

Paypal cannot touch your interest per their user agreement.

5.3 Money Market Fund. You will not receive any earnings on the funds that PayPal handles for you unless you enroll in the Money Market Fund.
 
If we believe that one of the sole purposes of this is for ebay/paypal to make money on our held funds  by collecting interest then this would prevent that occurence.  In my opinion this is worth trying.  You might just get your funds released and be safe for future transactions.
 
If you try this please post if and when anything happens negative or postitive. Nothing ventured nothing gained.

[lawsuit]

THIS IS HAPPENING TO ME TOO

I am hiring an attorney,this is insane i have 5 items that i ship proved confirmed as they told me to do to get my funds released faster it has been 2 weeks everyone has items i proved with tracking and now they insist on positive feedback WTF I do not have rent this month because of this and if i loose my apt due to this i will have one **bleep** of a case So if anyone is interested i am very serious about this..my attorney has already begun investagatin so far wha t he has seen happen to my money is said  was  opening his mind to a Multimillion lawsuit if we all fight together!

my name is Charlotte bungirl75 yahoo i have had enough and i have done ebay on n off for 10 years this has started when EBAY took over Paypal..this use to never happen it was always confirmed trough tracking etc..now that they do this these AWEFUL ebayers know this and like Heina;s will attack leaving us small sellers to take a loss not only in time money .but a loss in shipping and possible items!(instance : a buyer knows most likely your funds are on hold therefore he/she has 21 days to decided to **bleep** you  over,then if they do ,remember  paypal will then put a 30-90 day hold on funds till problem is resolved) MEANING it could take months to gewt our money! a million things could go wrong with this LOVELY process paypal has bestowed upon us ..  i mean everything came from my pocket and i have to wait 21 days to replace money!

not this girl im a fighter and now i want more then my 500 lousy dollars that they have on hold... i want millions for my  stress and loss! how about you?

[GrummSports]

Yes you right but you need to get the right attorney that deals with eBay and PayPal. Since PayPal has scammed over 1 million people I think they wanted to do this so they could go out of business which I assume they will soon I rather use Google CheckoutI use it all the time and get money fast and easy I use eBid the #1 site now that has millions of eBay members on there. I am planning on selling over 3,000 items and I know I will sell that much in a week on that site

[GrummSports]

The One thing I left out is that everyone should checkout is paypal**bleep**.com everthing on that page is True and not a lie.. eBay and PayPal has scammed over a million people and still counting they tell you briefly everthing that happen to them on Paypal and they made a site so everyone can visit them and find out more news about PayPal. It's a great site to view

[femsol]

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@GrummSports wrote:

.....Yes you right but you need to get the right attorney that deals with eBay and PayPal. ....

---

GrummSports you are right about getting the right attorney and I realize there are new posters that have just started to join in on this topic.  You can certainly retain your own attorney but you will either pay him/her either a contingency fee based on what if anything they can recover in an individual case or you will pay an hourly rate-and charged for every phone call and letter sent on your behalf along with billable hours. This gets expensive and the likelihood of  anything on a single case being  ruled in your favor are slim..  Additionally eBay has a bevy of in-house lawyers and law firms that they retain to fight their battles on something like this.  First of all as eBay is in California the case would be tried in the Federal Courts based on jurisdictional rules--another expensive way to go.

However If all new posters would try using the search function at the top of every forum page to learn a bit of what this forum has been about since day one many of you might find your answers--however that is not required just helpful to you.. There is a wealth of information the people that remain supportive continue to post.

Many of us have joined and have  registered with a Chicago law firm that handles very successfully class actions.  This firm has been doing its due diligence since last October and a web site was set up called letssuepaypal.com.  It has taken time and work but with the help of posters in this forum gradually people did register for this class action suit.  Now the firm is getting ready to file  the class action suit and hopefully based on what we were told there will be commercials and print ads regarding other to join if they have been affected by PayPal's holds.

The letssuepaypal.com site is still available but closed to postings.

Here is the information that we received:

 http://www.freedweiss.com/Attorney-Profiles/

This is the original law firm and loyalty to that firm would be appreciated although there are other class action firms named this firm is ready to file in Federal Court.   Julie MIller is the specific  attorney and here is her link:  http://www.freedweiss.com/Attorney-Profiles/Julie-D-Miller.shtml

Here is her direct number or there is a toll free number listed:  312-220-0000.  Also another poster provided information on the fact that you can ask for Vincent who is working with Julie Miller.

It is important that you tell her where you received her name and number ( the "Letssuepaypal website and that "Brian" referred you ) so she will know the nature and background of your call.  This was old info from when this firm was checking us out for a case.

Posting this for those who to retain their own attorny for them to think instead of a class action.  I always caution though that the class of individuals may not receive any money but in my case I just want to see eBay dragged through the court.

[mrs5pennies]

 lawsuit,

As you can see, there are 142 pages of posts on this forum.  Each one of these posts are the same as yours.  There is at least one Class Action suit being filed against Paypal/Ebay, there may be others.  I am attaching a copy of one post that was just a few pages back.  You may want to join this suit.   The following information was provided by femsol, who has done extensive research.

Details and links:

. 

 http://www.freedweiss.com/Attorney-Profiles/

This is the original law firm and loyalty to that firm would be appreciated although there are other class action firms named this firm is ready to file in Federal Court.   Julie MIller is the specific  attorney and here is her link:  http://www.freedweiss.com/Attorney-Profiles/Julie-D-Miller.shtml

Here is her direct number or there is a toll free number listed:  312-220-0000

It is important that you tell her where you received her name and number ( the "Letssuepaypal website and that "Brian" referred you ) so she will know the nature and background of your call.  This was old info from when this firm was checking us out for a case.

From the email that those of us who had registered  received, is this news which I just love:   "have also been told that the Law Firm should be posting TV commercials, and print ads around the country, in an effort to encourage others who have been victimized by PayPal to join in."

So Paul if serious check out the firm and their credentials as they list the class actions for which they have been involved and Ms. Millers brief history and then call, register adn tell your story.

If you had not irritated me the other day I was going to tell you that you were not far from right about PayPal--they are not acting honorable now because of the restrictions eBay is imposing and that is becoming clearer every day.   PayPal was a great company before eBay bought them and PayPal's actions are the direct result of eBay telling them to hold funds.  Now that eBay is adding ProPay and they are already buying into the Buyer Protection plan and as PayPal has grown to such a profitable company and accepted now by a variety of websites including some government agencies I remain hopeful that they do in fact spin away from eBay and become an independent company again.  They have some problems in the international arena regarding not following a specific coutry's monetary policy but I blame that on eBay as well. 

I would like to see PayPal independent again with the hopes that they would again care about their customers that utilize their service.

good night all.

[jdbowers86]

Ok. I decided to start using Ebay again and I sold a few items. Now I wasnt aware that Paypal had changed their policy on "holding" funds. I see it this way:

1. I sell the item

2. The buyer pays through paypal, INCLUDING THE SHIPPING COSTS.

3. I use my paypal account to pay for the shipping costs.

So basically the buyer cannot get his stuff now because my money is being held by paypal and I absolutely have to use the money the buyer provided to ship. What a joke. So now I guess I contact the buyer and say "Hey, sorry, cant ship you the item YOU PAID FOR because paypal has the money." Man......im **bleep**.

Any suggestions? Because im 100% done with ebay and paypal after this little fiasco. Thanks.