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!

[Winona]

 It is a new policy to hold the money. I think E-bay is behind it. But it is ridiculous that the customers gets there purchase and we have to wait for PayPal or Ebay or whenever they get around to releasing it. Waiting for feedback is a joke. Cause sometimes we just DON'T GET ANY. Then what??????????????? It sounds like punish the SELLER to me... Your right they probably are making money of our money just waiting for them to decide to give it to us.

[gameaddicts2010]

I dont think it has anything to do with punishing the seller. If you guys want your money sooner, print your labels through paypal. They will release the funds three days after the delivery has been verified by the shipping company. You guys are gonna have to roll with the punches. If you have under a feedback score of under 100 and you are a member of ebay and paypal for under a year, your funds are held automatically. You must prove yourselves as reliable sellers before your funds can be released to you right away.  I had to go through it, you can push through too.

[Winona]

I have been a member of Ebay and PayPal for 3 years now. I have never had this problem until recently and have done nothing to warrant it. So yes I am upset. And NO they have not released my funds after 3 days on confirming delivery. Whoever is monitoring the delivery confirmation is not doing it in a timely manner. It has taken as much as 15 days. So I think it's Ebay that is the cause of this. Buyers do not always leave feedback and I never here of them with a problem with sales. My feedback is a 100%.

[petrey7726]

I HAVE 100% TOO. I AM A SINGLE MOTHER WHO JUST HAD TO TAKE HALF HER CHECK TO SHIP MY PACKAGES. I HAVE FOUGHT ON THE PHONE FOR HOURS WITH THEM. THEY ARE SKETCHY..

[jlk23lsd]

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@petrey7726 wrote:

I HAVE 100% TOO. I AM A SINGLE MOTHER WHO JUST HAD TO TAKE HALF HER CHECK TO SHIP MY PACKAGES. I HAVE FOUGHT ON THE PHONE FOR HOURS WITH THEM. THEY ARE SKETCHY..

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#1 problem with their protection plan. It serves Paypal at the cost (literally) of the sellers.

The problem is the ACH batch process, and the holds on funds. Since the funds are held, the SELLER pays for shipping. Paypal "loans" the money to pay for the shipping costs that are required to complete the transaction (print out shipping labels, for example). Then they charge your bank account/credit card the same day. They also provide the funds for shipping, from the funds being held.

But.. if it takes 3-5 days to deposit and credit that amount to your bank account, YOU pay for initial shipping.

I imagine that Paypal is waiting to see if this creates more problems than previously without this protection plan, in terms of disputes, etc.

Before this, the buyers were at the most risk for fraud. Now, it's the sellers who are at the most risk.

The problem with the latter is that sellers or businesses have one purpose, or axiom- to earn a profit. If they are paying for shipping costs for every transaction, they LOSE a lot of money.

Not to mention it seems it's not too difficult for buyers to commit fraud, or exploit the ignorance of sellers, to get all their money back (and still keep the item they purchased).

The risk in doing business has always been for the BUYER, not the seller. The saying is, "Buyer beware", not seller beware.

[dwaldie]

Mr. gameaddicts2010 I have nothing to deliver, I own a rental property and I'm in great standing with ebay and paypal. I don't even use ebay for my process, I simply use paypal to collect rental deposits online.. How do you explain that one Mr. rolling with the punches?

[gameaddicts2010]

Well how much of a deposit are you asking for? Quite honestly, if I were sending my rent through the internet, I am glad they are holding and protecting my money! Thats good protection for me in case you decide to become a slum lord. I am paying over a $1000 for rent, at least I have some protection over my money.

Now, let's look over the reason you use Paypal to collect your rent in the first place. 1. its convenient for you so you do not have go and collect those rents yourself. 2. its probably one of the lowest priced services of this nature. 3. its almost like having another bank account. As a businessman, you should know better than anyone that things change an you have to roll with the punches. Its the cost of doing business. So why whine and cry about it? Roll with it and deal.

in response to dwaldie

[gameaddicts2010]

Its funny how everyone seems to be upset about something that they really should just deal with. Let's be honest, if you used another service, your per transaction rate would be higher + the fact that you might have to pay a monthly charge for the service. They charge you nothing to have the account in the first place. Whether you guys want to accept it or not, if you sell on eBay, be it 1 or 1000 items, you are now running a business. Nothing ever stays the same in business. If it did, this country would not have any economic issues. When things change, you must adapt.

[lorriebensky]

MY FEEDBACK IS PERFECT, I'VE BEEN HERE 9 YEARS AND YOU'VE DONE NOTHING IN MY INTEREST IN THIS ENTIRE TIME EXCEPT ACT LIKE THE **bleep** GOVERNMENT! FEEDBACK/SCHMEEDBACK! I HAVE A LATE PAYOR, DOES THAT MEAN HER POTENTIAL NEGATIVE RETALIATION WILL HOLD UP MY RELEASE FOR THREE STINKING WEEKS? NO! YOU HAVE A BLOODY MONOPOLY HERE AND YOU'RE ABUSING IT, NOW RELEASE MY FUNDS AND THOSE OF EVERYONE ELSE YOU'RE ABUSING!

[surplusdealdude]

Do you REALLY think Paypal is going to pay attention?

Really.

Sheesh.