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!

[RSPAWN]

Originally, I think that PP was British but Ebay purchased for $1.5 Billion. My first thought is that this hold came as a result of the purchase a way to subsidize the purchase. Make no mistake 15-29 days of FLOAT on money on this amount can add up quickly.

Second, Contact not only the BBB but your state consumer agency. For instance, the Dept of Agriculture administers complaints in FLorida, it may change through out the nation. I have filed 3 complaints in 3 years and receive but an acknowledgment from the State and 2 of the 3 from the company. I think the Internet and TV consumer reporters are rising method of "getting the message across"

Third, isn't the owner (Founder) of Ebay running for office in CA? I wonder if the voters realize the underhandedness of this tactic. Got to wonder what else she would do (or not) when elected.

Fourth and Finally, Keep up the pressure, ACTUALLY do something. Yes you, Stay Angry. Follow up and Follow Through.

They rely on our laziness and apathy. They are counting (your money) on it!

[francesca]

Am writing this today in hopes that the 'big wheels' at ebay & paypal read it.,  And by the way, you can pay me for my advise.

I have a nursing degree, not business; however, it does not take a rocket scientist to figure it out!

I thoroughly believe that all businesses in these hard times have to 'dare to be different'.    Take a look at Sam Walton.  He started in hard times.  His desire was to sell product to the common everyday people at the lowest price possible and to sell in quantity.    This eventually made him the richest guy in the US.  He did dare to be different than his competitors and put most all of them out of business.  This was bad for the other companies who went out of business but they refused to change.  With life comes constant change.  Now there are Wal-Marts on every corner.

It was the common everyday, hard working people who made Sam Walton.

Now, Paypal, could simply 'dare to be different'.  They could stop all this reserve BS and make the masses upon masses of buyers & sellers happy.  Then you keep all the business and you have droves of people coming back & signing up for Paypal because they are now an honorable company.  This goes for every person and every business, 'if you do not have trust, you loose everything!" 

Wouldn't it be fun to watch if Paypal decided to do their own thing and not follow the others!  Working for the common people sure worked for Sam.  Good business practice & ethics have not changed since then.  It's these companies that choose to follow  others, that will go.  Will it eventually be Paypal?  They only unhappy ones then, are these others they just put out of business!  They know the ones I'm referring to.  Boo Hoo, who cares anymore about these big financial institutions.  They can all go to H as far as I'm concerned.

As far as running for office, we all know the large companies have the politicians in their pocket!  So easy to buy people off nowadays if you have money!  Then it all goes back to Karma.  'What goes around, comes around.'  Fact!  If this person running for office is honest, trustworthy and has integrity, more power to him.  Let him run, he has the American right.  If not,  all the upsets with the masses with come out and he will look like a royal A--!

[Racer]

well package delivered. still no funds. so took matters to next step!! Contacted channel 7 news, and 7 on your side. They seem interisted in the story and will be looking into things!!! We will see now what a good bit of negative publicity will do for Paypal.  Keep an eye out on channel 7 san francisco bay are.

[francesca]

What network?  I live in Fl.  Way to go!  Everyone needs to start writing loads of letters to politicians, etc to help us out.  The middle class has been dwindling for years.  Now, it's pretty much the rich and poor.  The nice comfortable middle class life can be snapped away in a New York minute.  I had a nice comfortable life in nursing.  I told my patients I would be the oldest nurse seeing them.  And then- starting blowing out discs in neck.  Never know what will happen.

It is my opinion that all these things need to taken care of with patience, meticulous planning and professionalism.

Everyone has to look out for themselves first.  My advise is not to make hasty decisions that 'shoots yourself in the foot'.

I am personally taking care of lots of personal things right now.  The first thing I have done, is to withdraw all my money from a major bank that is backed by a large corp who has assisted in placing millions of Americans in financial ruins.  I joined a credit union.  Probably can't mention names, but it starts with Ach----.

I recently did a consultation with a specialized attorney.  I was shocked to hear that he said that everyone, who is upside down in their home and has a second mortagage, should file a Chapter 13, if nothing else but to get rid of the 2nd mortage.  In Fl right now, it doesn't affect you keeping your home.  Most of these attorneys are free consultation, so people need to get one.  My statement to him is that I need to pass this on to everyone!

Look out for yourselves and your family.  Do whatever it takes!  Love luv this venting.

If I had my money being held in reserve, I would buy up lots of silver while it's still reasonable and bury it in the backyard!

[clubjay]

this hold is crazy!!! they hit me with it today after 6 years and a feedback score of 100% it was highly uncalled for, i was so upset that i called to cancel my account and they won't let me until the money on hold clears. this nis some kind of illegal scam for them to hold our money in their bank accounts and collect the intrest on it. i have filed a complaint with the BBB and suggest that everyone this is unfairly done to do the same. why should they earn on our money? they make enough on the fees!!!!  a law is being broken here and i hope they are exposed for it!

[ffpmtb]

This is Total BS!!!!!!!!!! I have been a Paypal member and Ebay member since 2004 100% feed back! Sold my Iphone so i could upgrade to the 4 and whammy, guess what hold on funds! I understand that theirs a lot of fraud going around these days, but im no crook or I wouldn't have a 100% feedback rating!!!!!!!!!! I have called paypal several times this week on this matter and have been lied to everytime, first it was soon as you ship item funds will be released, guess what, Its been shipped, and funds still lock down, next they tell me once he receives the item funds will be released. I called back today and they tell me once item is received and after three days funds will be released. I will believe it when I see it!!!!!!! Its **bleep** that a company you have trusted for so long treats you like a freakin CROOK!!!!! Never again PAYPUNK!!!!!

Just Sayin!

[RSPAWN]

Again, STAY THE COURSE. Do not let time erode your resolve.     EVERYONE!!  #$%^&*

Any time a company makes this kind of predatory change, they expect some noise and a few hits, then they rely on, depend on, and count on your apathy over time. It is built into their Risk / Reward assessment.   

Stay mad. I continue to suggest that you add derogatory comments within your product descriptions, ask if customers will pay you direct, or if you have the capability,  use your own credit card machine to take the payment. Trust is the key. This is what PayPal exploits to their profit, our unwillingness to trust. Granted, thieving, no count, butt wipes have created the issue, but Pay Pal's exploitation is not much better. Ebay just bought Pay Pal and the head of Ebay is running for public office in CA, if I am not mis-informed.

Wonder what SHE will do to exploit a public office for profit?

Happy Independence Day to ALL, even Pay Pal!

[fjp800]

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@ffpmtb wrote:

This is Total BS!!!!!!!!!! I have been a Paypal member and Ebay member since 2004 100% feed back! Sold my Iphone so i could upgrade to the 4 and whammy, guess what hold on funds! I understand that theirs a lot of fraud going around these days, but im no crook or I wouldn't have a 100% feedback rating!!!!!!!!!! I have called paypal several times this week on this matter and have been lied to everytime, first it was soon as you ship item funds will be released, guess what, Its been shipped, and funds still lock down, next they tell me once he receives the item funds will be released. I called back today and they tell me once item is received and after three days funds will be released. I will believe it when I see it!!!!!!! Its **bleep** that a company you have trusted for so long treats you like a freakin CROOK!!!!! Never again PAYPUNK!!!!!

Just Sayin!

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My experience is that they keep the funds past the three days.. I checked and found payments which where held in excess of five days after PayPal received confirmation of the deliveries.  When I called PayPal, I was told it was just an overshight on their part...:(

[mweimer]

I need to buy things like food.  I have past-due bills.  I had to borrow money from a friend to pay the rent.  But right now I literally have only $4 in my bank account.  Meanwhile, I have about $400 sitting in my PayPal account that I can't access because of PayPal's new holds.  And I currently have no other income.  I wrote to PayPal and asked for either an explanation of why my funds are being held (since am not selling in new or high-risk categories, I am not a new seller, and I have flawless feedback), or for a release of my holds.  And what did they say?  Nothing.  They simply never replied.  I feel such frustration and despair over this.  But I guess since PayPal has managed to create something close to a monopoly for itself, it is in a position where it no longer has to care.

[RSPAWN]

CARE is not in their vocabulary. It doesn't draw interest it doesn't pay the bills. OUR CARING however does.

If we CARE to not use Pay Pal.

If we CARE to continue blogging our message.

If we CARE to write the Consumer Affairs Adepts in our state. ( Florida is at the Dept of Agriculture)

If we CARE to file BBB complaints. ( Both can be done via Internet)

If we CARE to use our word of mouth.

If we CARE to send payments via money order, use our own credit card machines, or cashier checks.

Well, I have no more CARE left. I hope you in particular see your money soon. Keep up the #$%^& storm. They really do count on us wandering off the subject; it is built into the model they initiated, knowing some fallout would occur but they also know we'll soon go away. Prove them WRONG!