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!

[Djten]

    Does anyone know if PayPal issues this 21-day restriction on other auction sites and other places that accept PayPal? I'm just curious.

[BigTPoppa]

I recall a while back, that I stated during this issue with the 21 hold, we need to be watching what other charges could occur. I might be confused, but, I got a reminder today of the new changing insertion fees of ebay coming starting March 31st. First off you are "required" to start your bids at under $1 to receive the benefits, AND then you will be charged a "9% final isertion fee" BUT not more than $50 on an item. Somebody help me out here, if I sell something for $400 the insertion fee would be $36.00, that is surely two to three times the amount of the current insertion fees as they stand now. Please somebody help me out here and explain to me if my thinking is correct and does it look like another way to gain more for the loss of any past customers.

[lingo]

 I  still sell on ebay but I have signed up for another site...OLA.com...if we can get others to join maybe it will take off.  I joined as a founding member but you can sign up for $8.00 a month...no listing or final value fees-list as many items as you want...and as a verified buyer for $4.00 a month...bid without limits...and both have private communication between buyer and seller...plus a whole lot more...I am being fee'd to death on ebay

[Nawz]

I have a 100 percent feedback on Ebay. My money has been in my pending balance now for almost 3 weeks now. The payment policy page doesn't really make it clear when your money is to be released. The buyers have their items and havent left me feedback yet, so my money is still in the pending balance. Is it a set number of days till it comes out? I sold the items in late February.

[sandypurins]

PayPal will release the payment after 21 days, or... they may release the payment 3 days after the buyer leaves positive feedback or 3 days after PayPal can confirm delivery of the item. Go here...

https://www.paypal.com/cgi-bin/webscr?cmd=xpt/Marketing/securitycenter/sell/SaferPayments-outside

and here...

http://pages.ebay.com/sell/update08/rewardsfaq/index.html#27

to read more about the policy.

[dm3372]

PayPal does not have the legal authority or the right to hold people's money until there is a dispute or until 21 days has passed. PayPal do have a right to change the policys based on how many days it take for someone to file a dispute which  is up to 45 days after he receive the product after the buyer received the payments, not 21 days while PayPal holds the money.

[sandypurins]

If the shipping company's website shows the item as delivered and if PayPal has the tracking number and if it's been more than 3 days since the item was delivered, call PayPal to ask if it's sufficient to release the hold.

[NetSpace]

In other words. You must beg for the money thats rightfully yours even after your item(s) have been delivered

[femsol]

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@NetSpace wrote:

In other words. You must beg for the money thats rightfully yours even after your item(s) have been delivered

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Looks that way--they have a tight grip on our money as it makes them interest.  In the TOS legal docs it specifically states that we waive our rights to interest earned and it belongs to PayPal.  Now it you had to would you choose this as a bank--sure take my money I don't expect any earnings!!!

[Nawz]

Usually I do put the tracking information down, but the lady at USPS was new and she said my package was to small for delivery confirmation, so I couldn't get it this time, and the buyers have yet to leave feedback. Thanks for the response though, I was just wondering how long it would take to release, it's almost been 21 days now.

"When does PayPal release payment holds?

Payments will be held in a pending balance for a certain time period. For example, if you receive a $100 payment (after fees), the $100 will be held in a pending balance for that amount of time. After then, the money will be available for withdrawal."

I never really found where it said it would be held for 21 days, just saying. Thanks!