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!

[fedup224]

I agree. This 21-day hold is ridiculous!!!!!!!!! I can't ship my items now, and will have to email my customers to let them know why they won't be getting their items. I am done with ebay and paypal. I've had much better experiences at Amazon and Craigslist. This hold policy made me look deeper into what ebay and paypal are getting out of each one of us, and it is insane to continue using them. I hope they go out of business. OH, and have u seen paypal's website, saying that people using paypal get their payments quickly???? Right!!! After 21 days, payments come quickly. Paypal-ebay---**bleep** it!!!!!!!!

[dm3372]

You will never make good money on eBay. When you sell anything on eBay, you have to let eBay do this for you, they will not let you do it yourself. This means you will be paying a listing fee to eBay so they will list it for you, and you will be paying a final value fee, if the product sells, to eBay so they can submit the payments to your PayPal account for you. It's all automatic and that's how eBay makes money. It's big business and it's waste of time and money altogether. It's more like having someone to do a website for you which will cost you money instead of doing it yourself which doesn't cost anything. The only different you would be paying for is the hosting service and the templates. The shopping carts are free. And In addition, you need a real merchant account, not just PayPal, so your company's name will appear on credit card statements when customers order anything from you using their bank credit card. Morever, you would receive it straight to your business bank, and you should always have that money in the bank before you ship the items so you can make an invoice to confirmed that the product was paid for. Never, ever, EVER ship anything to anyone before you have the money in your business bank account. And 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 the 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 hold your money unless Congress pass the law or the Supreme Court allows that.

[cmpcpro2010]

Well the fact of the matter is, I am not going to go along with the policy. I have given my buyer's three options. A: I will return their money, B: They can leave positive feedback, stating they haven't received the item yet, but are doing so because of a Paypal policy, or C: I can refund their money and they can re-send it without it registered to eBay. I don't trust Paypal, I think they are crooks, and a monoply, I will NOT send a single item without receiving the money. I refuse to be another seller on here posting how their buyer **bleep**ed them and PayPal stuck up for them.

[skier]

Well the fact of the matter is.

Regards,

skier

[luvemykatz]

It is a joke. I have nothing but positive feedback but PAYPAL/ EBAY ( all the same) is keeping my money even though I have 42 positve feedback no negative.and on my first account I had 495 positive..on my first account . I have been a member of Ebay since 2000 and paypal for almost as long..... They are getting intrest on all of our HELD funds while we are using our paychecks to mail of OUR sale items AND charging us for using them.  We can no longer except money orders because it is not safe. I say PAYPAL is no longer playing fair. They are getting GREEDY. What are we paying them for??????? 

[cherylynne]

I have a 100% rating should not have to beg my buyer to provide feedback so I can get paid when did this new policy take place? there is no tracking number on a media mail send What can I do to get paid I think I want to cancel this account how Do you do that? Will I get my money that is stuck in pending if I cancel or will they just keep it? How can I get paid other than paypal ? I agree with the other posters this is a scam of some kind and then they charge fees on top of it for holding your money in a pending account. What can we do to get paid? I talked to a representative likely from some other country and could not even make any sense of what she was saying I just want to know exactly when I will be paid don't like shipping mu stuff to a buyer if the funds are not here. Who does business this way I sell something I want to be paid not have my money held for how long, This p...... me off. If this is a pemenant new feature I am done with PAYPAL. Ebay has gotten bad too as they work in conjuction of each other Someone always has to  f..... up a good thing guess we should all start selling on Craigslist to avoid this kind of stuff. Well done ranting, any assistance on what I can do to get my money would be appreciated. I only sell at the end of a semester and can't understand what is going on here as I have always shipped on time and did my part of the deal and now I am getting **bleep**ed over. the representative said they only do this on electronic items and big ticket items to corporations why is this affecting me. I just wanted to get some money for my books and thought the transaction would be safer going through Paypal guess not, too bad, maybe enough people will complain and they will go back to the old policy. Please provide me some feedback so I can find out how to get paid!!!!!!

[cherylynne]

Thanks, I have them posted with Amazon, read many blogs and will try half.com or ebid and am filing with the FTC and putting my name on the list for the class action suit on this and encourage everyone else to do so. My auction just ended and pretty much done with eBay either buying or selling and will look for other avenues in the future It is too bad I buy a lot through eBay at Christmas and just wish I'd known about this new policy before. I had heard there were problems awhile back but didn't know what they were. It is really too bad commerce had to get involved with all this free enterprise and mess things up Ebay will soon be gone too as a result . I sympathize with those people with thousands of dollars out mine was $32 don't know what I would do if I were in their situation.

[LSPP]

Just a reminder to EVERYONE who's been scammed by PayPal's "Hold", the lawsuit has been filed, and the list is G-R-O-W-I-N-G rapidly with class member (those just like you who have suffered the "hold"). You need to contact the Law Firm- Freed & Weiss at: 312-220-0000 to get your name on the list as a class member. To see the complaint filed in court, visit my website at: letssuepaypal.com where I have a link to the complaint. The end result: those whom made PayPal and eBay who they are today, will be the same ones who will put them where they belong= ON THEIR A-S-S!

[cherylynne]

Yep thanks I already filed with them

[temp201807293]

This is now known as The PayPal Tax™ . PayPal gets to hold your money at your expense and make investment profit off of the held funds. 

Cool huh?

So, in addition to charging you credit-card style transaction fees, PayPal now gets to make money from holding YOUR money.

Man, what a great idea to create consumer rage.

Stop The PayPal Tax™ !