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!

[indylindy54]

Not always!! I shipped an item in May, in June paypal withdrew the payment of $93 even though I had a confirmation # that the item was delivered. Paypal said it could take up to 90 days to resolve, as it was the buyers bank making the dispute! I think if paypal accepts the money and the item has been delivered then PAYPAL should be out the money, they are the ones who have all of the personal info on the buyer--not us! When we ship the item when it is paid, as ebay insists we do...then why are we responsible for the buyers payment 30 days after they have received the item?

[becker2413]

An explanation of payment holds and how they apply to you

Your business is important to us. That's why we're committed to providing a fast and secure payment service to you and your customers while keeping our prices competitive. We're also committed to clearly communicating changes to our policies and procedures. So, we're writing to let you know about a change to your PayPal account.

From now on, payments you receive will be temporarily held in a pending balance. This pending balance helps make sure that you'll have enough money in your account to cover any buyer claims.

Payments will be held in a pending balance for up to 21 days. For example, if you receive a $100 payment (after fees), the $100 will be held in a pending balance for up to 21 days. After 21 days, the money will be available for withdrawal.

The money may be released sooner if:

1. We can confirm that the item was delivered
2. Your buyer leaves positive feedback. (Applies only to eBay items.)

We know this is a change in the way we do business with you and we hope you understand that you haven't done anything wrong. In deciding whether to apply payment holds, we review many factors including transaction activity, business type, and customer disputes.

Payment holds are often applied to new sellers who don't have a lot of transaction history, sellers in traditionally high risk industries (for example, travel or tickets), or sellers who've had a high number of claims filed against them.

??????????????Not  sure if that helps , but that's the exlaination PayPal sent out???????????????

My problem is I don't have any issues (stated above) with my acct. and there are holds on all transactions now...........

Also my friend has only 80 FB and just received a payment of $180.00 WITH OUT A HOLD.

I have 281 FB 100% and sold $20.25 perfume and holds on it.

So I don't think there is a reason just  lack of intelligence

Please somebody help PayPal with this issue, it's just not fare!!!!!!!!!!!!!!!!!!!!

[belligo]

Agreed, it is INSANE!  I usually buy on Ebay, not sell, but this is the first time I've encountered this.  The buyer made a payment, but PayPal is holding the funds for 21 days or until the buyer leaves positive feedback.  What if they don't???... I don't get paid???  Sorry, but I'm not shipping without payment. 

I've been an Ebay buyer for at least 10 years.  Here's how it goes::

I win - Pay through PayPal - the buyer ships the item.  That's how I've always had to do it as a buyer. 

PayPal OR Ebay doesn't have seem to have ANY problem GETTING money from me for fees!  If I'm secure enough for THEM, then I should be for the buyer too.  This "pending" for "safe selling" is a load of bull.  PayPal is probably collecting interest on our money while it sits. 

I wouldn't even be writing this post if PayPal provided an EMAIL or PHONE NUMBER!!!!!!!!! in order to contact them about this.  Every time I click on "phone" or "Email" buttons, nothing happens. 

I have 9 items on auction right now.  I have a good mind to pull them, apologize to the bidders, and CLOSE MY EBAY ACCOUNT. 

[smedly45]

**bleep** my buyer left positive feedback and still they hold funds it will be almost a month by the time i get my

money,,,21day hold and 3days to see it in my checking account, priced item lower then normal to sell

quickly and then found out about this big speed bump,,,item sold in 3.5 hrs after i put it on ebay but

will not get any money for at least three weeks what the **bleep** is that ,,, will close acct. and stick to craigslist

[mugen]

this is the first time i have used paypal in almost 6 monts and i am just now finding out that they hold my money this cannot be legal in any way i dont see how after this and the first time this has happend to me and it will be the last i am closing my account as soon as they feel they want to give me my money. paypal is quick to take there money from me and slow to give it back sounds like uncle sam is running the place now

[lileee1]

ridiculous? try disturbing and dubious. i've been expecting a simple deposit, not a purchase payment, for several days. the sender has been told by paypal that they won't process it until 10/8/10. someone is sending money to my account and there is a specific date set to process it? come on, sheeple.... something is definitely going on behind the corporate curtain! they won't allow checks and money orders because they don't make any extra money off them. they had a good thing going until some corporate goon wanted a new boat or sports car or owes back child support and made new policies that would pay for his, or her, new toys. at this point, i believe i would trust a stranger's check before paypal. i'm not buying the propaganda that their policies are in place to protect buyers/sellers. maybe in the beginning but they have since discovered there is a profit in it for them. they may be the biggest, but not the only online site, and it's too bad that most ebayers will continue to use them inspite of the problems caused by the policies. but, at least i know that somewhere, a lawyer, or two, or three, is looking into these policies and practices. it's just a wait and see now. the curtain has to open sooner or later. hang in there mugen.

[shaunh]

Outrageous! I agree with the person who said let us put a hold on their money and paychecks for 21 days and let's see how they like it! HAHA! Works every time! That's why Jesus taught treat others how you want to be treated because a lot of times you wouldn't do such things as what paypal is doing! Anyway Godbless everyone and paypal to do away with payment holds!

[dutchman67]

I also sold on Ebay and that was my money for rest of month to pay shipping and have to buy other items and now they are holding it.  When was this started?  Not pleased.

[Djten]

Dutchman67 wrote:

I also sold on Ebay and that was my money for rest of month to pay shipping and have to buy other items and now they are holding it.  When was this started?  Not pleased.

_________________________________________________________

This has been going on for close to 3 years my friend.

[thelbeffect]

Tell me about it, this is ridiculous. Ive been using ebay and paypal for YEARS and am a reliable 100% Ebay seller.

This is just insane. I rely on the funds to get the postage to post the item so that I am not out of pocket and so they don't rip ME off! I don't know why paypal are so in favour of the buyer when the seller is human too - holding the money is like telling us we can't be trusted to send an item before we've even had the chance to do so!!!!

They are currently holding my money and I just found out that i'm pregnant this week and couldn't even afford to go to the Dr. to get my blood tests done because paypal decided in their infinite wisdom to hold my funds!!

I don't see the point in instand payments if the money isn't in the account. Paypal are obviously making a butt load of interest off of our money here because i'm certainly not!!!!!!

I sent this item signed for and priority and hope the buyer leaves some positive feedback real quickly or else i'm going to be waiting all we to get this money - which I now have to pay out to people I had to borrow money off of this week while the money is pending!! If this is going to happen now every time i get paid, i'll be leaving paypal.