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!

[fjp800]

The new policy is OUTRAGEOUS!!!  This is what I have done as a protest and will continue to do!!!!!... I transferred all of my funds from PayPal to my bank account.  Spread the word and.. Just maybe, PayPal will get the message!!!  Withdraw all your funds as they become available!!!

Like we do not have enough to do!  Now I have to really push for feedback OR .. If not purchased via E-Bay..keep track of every item we mail AND notify PayPal when they are delivered.. I sell in volume and they [PayPal] has NO idea what a Pain this new policy is. Or if they do.. they just don't give a crap about Sellers..  Let's not kid ourselves...  This new policy has nothing to do with Buyer Protection...  By holding YOUR money for up to 21 days.. They increase their profits!!!  We are not talking about pennies here.. We are talking about Millions of Dollars!

[marcel3]

If the feed back is 5 star from a buyer why then don't pay-pal release the funds?

[MIKENCIS]

Are you saying that when somebody buys something from me I have to wait 21 days before I receive my money?

[Dontlikeitman]

Well, let me put it like this to you. If someone pays you. You can if you want to at your risk take and mail the item out with a tracking number on it  and enter it into the paypal tracking and hope and pray that they are watching for when it is drop off and scanned. Wait for the buyer to feel right to give you postive feedback and yet hope and pray that paypal is watching for them to release your funds.. if not your will be waiting 21 days or more. Or after you see it has been drop off at the buyer location call paypal and tell them to release the funds then (you might get lucky and they migh trelease them then) and wait afew days for them to release them.

[fjp800]

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@Dontlikeitman wrote:

Well, let me put it like this to you. If someone pays you. You can if you want to at your risk take and mail the item out with a tracking number on it  and enter it into the paypal tracking and hope and pray that they are watching for when it is drop off and scanned. Wait for the buyer to feel right to give you postive feedback and yet hope and pray that paypal is watching for them to release your funds.. if not your will be waiting 21 days or more. Or after you see it has been drop off at the buyer location call paypal and tell them to release the funds then (you might get lucky and they migh trelease them then) and wait afew days for them to release them.

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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.  😞

[Raquelkenyon]

YES!

[NickGreen21]

Paypal is an absolute disgrace for doing this - ever since Ebay bought them they have gone to the dogs.

They are holding OUR money for 21 days and using to make money on the overnight markets and don't believe anyone who tells you otherwise.

An absolutely disgraceful business practice from a US company.

[poohka]

WOW... I never knew PayPal had a place like this on their website.  A  place where users can speak to each other and vent frustrations.

I am past the period where PayPal holds my money for every transaction and now my money is usually available immediately.  However, While I read through these comments (read some and skimmed through some), I wanted to add another bit of insight into PayPal holding your money hostage...

They collect INTEREST!  Yup, while they hold your money for 21 days, They are also collecting interest from wherever/however they are holding it.  Lets do some math.

Holding $10.00 from Joe BUT there are 50,000 Joe's and Jane's out there which equals = $250,000.00!!

Now lets say  they hold the money in an account that earns 3% that equals = $7,500.00 they earn off YOU!

Ridiculous...

Now then, I need to find the forum or thread so I can start venting about this Resolution Center.  I was told the dispute/claim I entered would be complete on the 15th.  I still have not heard from them and there is no way on the dispute page for me to email paypal or enter any updates.  Terrible, it soooooo P!$$3$ me off.

Good Luck everyone.

[angelpup]

I agree with you! I have had nothing but problems with this site! I am going to take them to court over miss leading quotes!

They need better security and customer service !

This company need to be put out of business because of there what I call illegal activity!

I don't understand why they have to be used all the time when it comes to selling something or buying from Ebay!

I tired of all the control they seem to have when it comes to my money!

Where is the protectiion for me!

Why has this company still in business  and why do they think that they can away with this!

ENOUGH IS ENOUGH!

NO MORE GAMES MAKE CALLS TO BETTER BUSINESS BUREA AND ATTORNEY GENERALS OFFICE

STOP THIS COMPANY FROM DOING WHAT THEY ARE DOING WITH YOUR MONEY

[junior30king]

I have 2 seperate items that have been paid for, shipped and Positive feedback left. The hold still hasn't been released Over 72 hours later. Tried emailing and calling but can not reach a real person. It has been my experience that only those who intend to defraud need to hide. I jumped thru hoops verifying myself yet I have no idea who these people are, where they are or able to talk to a real person. Does any one know how I can reach these people or what their address is so I can meet them in person.