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!

[pikachoo]

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@BetterBusiness wrote:

I have the same complaint WHY DOES PAY PAL PEND PAYMENTS THAT ARE COMPLETE??? YET THEY EXPECT YOU TO SEND ITEMS THAT THEY HAVE A HOLD ON AND FOR NO REASON.  I talked with them and they said they do this randomly until you have sold 100 items, dont think I am going to make this quota.  They have held funds for the last two items and its over 100 bucks.  Come on!!!! THIS IS NOT GOOD BUSINESS for any of us   BETTER BUSINESS BUREAU NEEDS TO HEAR ABOUT THIS. 

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Who told you they do this randomly until you have sold over 100 items? I was a power seller since 1998 with tens of thousands of positive feedback BEFORE they did this to me. My newest account didn't get this random hold UNTIL AFTER I reached the 100+ sale mark. Browse this board, please. Most us sellers have met all their criteria for this policy yet they have wrongly, unfairly, & truly unjustly applied it to our accounts!!

[pikachoo]

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@BetterBusiness wrote:

I have the same complaint WHY DOES PAY PAL PEND PAYMENTS THAT ARE COMPLETE??? YET THEY EXPECT YOU TO SEND ITEMS THAT THEY HAVE A HOLD ON AND FOR NO REASON.  I talked with them and they said they do this randomly until you have sold 100 items, dont think I am going to make this quota.  They have held funds for the last two items and its over 100 bucks.  Come on!!!! THIS IS NOT GOOD BUSINESS for any of us   BETTER BUSINESS BUREAU NEEDS TO HEAR ABOUT THIS. 

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Better Business Bureau? They don't give a figs fart about it! I've already posted on this issue. They have them graded at the top of the chart with A+ all the way although they have thousands of complaints against them!

[sprtpilot]

When PayPal holds your payment as "pending' simply contact the buyer and explain that obviously you cannot ship the item without actually getting paid. Cancel the Ebay transaction. "Refund" the pending payment. Have the buyer pay you using your email address and PayPal, the money will be credited to your account immediately just like it used to be and still should be. Ship the item to the buyer. Simple. Ebay can continue its steady decline in to oblivion.

[surplusdealdude]

And, if the buyer asks about your stunt on any selling forum, they'll be told that you're scamming them and they'll tell ebay and paypal.

ebay will boot you out for attempting to trade off ebay.

[pikachoo]

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@sprtpilot wrote:
When PayPal holds your payment as "pending' simply contact the buyer and explain that obviously you cannot ship the item without actually getting paid. Cancel the Ebay transaction. "Refund" the pending payment. Have the buyer pay you using your email address and PayPal, the money will be credited to your account immediately just like it used to be and still should be. Ship the item to the buyer. Simple. Ebay can continue its steady decline in to oblivion.

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Actually the new policy states that "ALL FUNDS COMING IN TO YOUR ACCOUNT" So that means literally all funds no matter where they come from or how you get them!

[DVA]

I too am a "casual seller who had no idea about the 21 day BS.

PayPal, why on Earth am I paying you to hold my money??!!

You charge a fee AND hold my money too? Great business plan.

And why can't you acknowledge those buyers who personally pick up items (such a furniture)

on their own. Not all transactions involve shipping. Streamline the process!

It's 2010 - and only a matter of time before some young startup will leave your company in the dust

with a better way to do business.

[HariKari]

Hi Pay Palers

Can you say Craigslist...pays instantly...every time.  Sure its different, but nobody steals your money for a month, holds it, collects interest on it and gives you some self serving chicken or egg story.  I think PP has forgotten who butters their bread.  I have only been eBaying since Jan and have seen the fees that matter shoot way up and PP start acting like a bailout fat cat bank.  It is bad eough they pull fees from three sides of any single transaction.  Just might pass on the next 6 months...too bad. It was cool just a little while ago.  And I was working to keep my 100%.  Hah!  Worthless on the pay side.

Hey Pay Pal...how about some interest if I have to loan you money?  Shame on you.

Deeply disappointed but not surprised.

HK

[Junior57]

Never again...I am DONE SELLING on Ebay. I have had my PayPal account for YEARS. My item is sold item is digital and has no shipping so I wait. You guys get no more of my money...EVER!

[KrakrJak]

Don't stop selling, just stop using PayPal!! With a policy like this one, they will be bankrupt in a few months. I would not trust my money in the hands of any company with a policy like this one. Use Postal Money Orders, cash them for free at the Post Office when you send out your product. No more fees, no more BS, and you won't lose your money when PayPal goes belly up.