HORRIBLE IDEA TO HOLD FUNDS FOR 21 DAYS!!!
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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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no, they have the tracking info for several here in this thread and they still take weeks to release the money.
It isn't any of their business to police the transaction, anyway. That's the point.
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TatTee wrote:
Instead of the money being held for 21 days, cant we just add a tracking number and the money is released within around 4 days from the item being delivered (verified by tracking info added to paypal)? That way theres no need to wait for feedback from the buyer?........
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Not being funny but if you go back and read some of the other posts, it really won't make too much of a difference. That's what the basis of this whole discussion has been about. Before 2008, there weren't any hold restrictions at all! Not until eBay bought Paypal is when all the nonsense began.
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I agree with you. PayPal have a right to change the policy regarding how many days one can file a dispute, and so far, you have until 45 days to do that. However, I think PayPal do not have the legal authority or the right to hold your money for any reasons. This can be illegal and they will get in trouble with the Federal Government.
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@dm3372 wrote:I agree with you. PayPal have a right to change the policy regarding how many days one can file a dispute, and so far, you have until 45 days to do that. However, I think PayPal do not have the legal authority or the right to hold your money for any reasons. This can be illegal and they will get in trouble with the Federal Government.
Hey, I can go you one better!!! I just got off the phone with PayPal and got four payments released immediately!!! GUESS why?????? I did a random check on shipments and found that PayPal was holding the funds in excess of the three day hold after delivery.. In my case it was five days!!!!! I don't know how long they would have held the funds if I did not check.. I spoke to a supervisor and asked him to check approx 30 other shipments which I believe were delivered over three days ago. Their system STINKS!!!! Now sellers ahve to check to see when the item was delivered and, if over three days prior, call PayPal to have the funds released. 😞
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PayPal have no reasons to hold your fund for 21 days because even if you receive the payment straight to you, you ship the product, and then if something goes wrong with that product, they have a right to file a dispute within 45 days, so it doesn't make any difference.
Personally, I think it's illegal for PayPal to hold funds for 21 days because they do not have the legal authority to do that unless the Federal Government change the law to allow that, and that will not happen.
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Okay I'm not new to paypal but after i sold something on ebay it said they were holding my funds, and not only that there was some fee that automatically took out of my payment. Now i dont know if it was something on ebay I did or if this Payment Hold thing just decided to charge me for it, because I sure as **bleep** didnt agree to it!
This has B.S. written all over it especially the 21 day wait. To make things worse my buyer is un responsive to my messages so I really doubt theyre going to leave feedback and lift this payment hold for me (they also have no feedback themselves, so i dont know if this person is scamming me or what???) Couldnt they just withdraw the funds?? I better not be getting **bleep**ed. Paypal better be getting some kind of law suit slapped at them for this because im outraged that I have to wait 3 weeks to get my payment. IF ANYONE HAS RUN ITNO THIS SITUATION PLEASE RESPOND.
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You agreed to this in your User Agreement and it will apply.
If you don't like it, stop accepting Paypal and stop selling on ebay - those are your choices.
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I agree Im in the same boat right now and the problem im having is the buyer wont post feedback because his english is terrible...I have even spoken to the buyer on the phone trying to get him to post the feedback and he doesent understand me so this is crap Now I HAVE TO WAIT!!!!! this is BIG B.S.!!!!!! im waiting on over 800 dollars and i need it badly thats why i sold the item in the first place!!!!!!!!!! Come on paypal give us sellers a break here please
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Wow you are angry. Paypal has held mine in the past too, but I didn't go all gunhappy on them.
This is what I did:
1. When you ship something, there is something called a tracking number. (I know right? It's super cool!)
2. Take that tracking number, confirm the item was recieved. (still with me?)
3. Give it 24 hrs once the tracking number states recieved.
4. Contact paypal via telephone and they can look into it.
Mine was cleared. Yes I was angry because it was a 200 dollar phone sale and I desperately needed the money, but spazzing out on a forum doesn't really get the money any faster. Plus I'm sure it **bleep** them off to read it and now they are going to make sure to hold all of your money in the future. 🙂 Happy selling!
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MissCrystena wrote:
Wow you are angry. Paypal has held mine in the past too, but I didn't go all gunhappy on them.......
Mine was cleared. Yes I was angry because it was a 200 dollar phone sale and I desperately needed the money, but spazzing out on a forum doesn't really get the money any faster. Plus I'm sure it **bleep** them off to read it and now they are going to make sure to hold all of your money in the future. Happy selling!.........
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I'm glad you're able to take a much more cool, calm, and collected approach to this however , everyone doesn't feel the same. First, you may not be selling at a high volume or doing this as a sole means of income whereas others might. Also, I am one of the people who've been doing business on eBay since before all this hold foolishness came about. So folks may be spazzing out unnecessarily at times, but I for one agree with most of them.
And also, it's not about spazzing out but being straight out lied to! After I joined this disscusion board and started blowing up eBay and PayPal too, I decided to increase my store volume and take a chance on selling again. And to doubly make sure, I emailed PayPal and they said there were no restrictions on my account. (***Point: you're an individual seller. I sell items for a distribution company). So, someone buys an item from my store and I thought everything was cool. I go ahead and make the transaction through PP. Then about 10-15 minutes go by and then I get an email saying my payment's on hold! I wrote and told PP that I thought that was very underhanded!! You see Miss C, when you're an indidual seller you can be a little more tolerant of the hold policy. But when you're told that nothing's wrong with your account and when you sell stuff for somebody else then it's a little different.
So then, I tried to reverse the transaction but PP further went ahead and paid the distribution company for the item. So then the company unassuningly ships it the buyer. Not only was the money taken out of my checking account but I was charged a $35 overdraft fee ! I spoke to my bank and luckily they were understanding enough to reverse the overdraft fee because they said it happens all the time. And just as fortunately, I was able to communicate with the buyer and we were able to work things out. Other people are not as lucky. Now you tell me: why wouldn't I have a good reason to "spazz out??"
One last thing: all that spazzing has gotten quite a bit of feedback, which is what discussion forums are for in the first place. Lots of information came across by way of business news and other links that show how big this issue really is. For instance, did you know that in '02 eBay bought PayPal for a billion dollars?? Or that a few years ago Louis Vuitton spazzed out on eBay by suing them? And I have since opened up two new online stores and am using about 2 to 3 different pay methods, and I left eBay alone. Yeah, people may be spazzin' but if you delve into this thing you'll understand why.
****P.S.: In case you or anyone else is interested, my stores are www.blujay.com/tenthedj, and www.gadgetmanonline.ioffer.com.
And also I'm not trying to chastize or criticize you. Only enlighten you .

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