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!

[Jhazy46]

Well, that's news that's right off the top...Ebay ownes PayPal, yup checked it they certainly do, and doesn't that constitute a monopoly, or a conflict of interest anyway when a company can own its own financial institution...seems to me there is some kind of Securities and Exchange or other banking rulesw that govern this type of activity???

And, whether one wants to acknowledge it or not PayPal in essence is a banking entity. They lend, pay, charge interest, offer credit cards and debit cards, and more just as any commercial bank does, yet they don't have to abide by the same rules?

How many commercial banks like HSBC, Citizen's, Community, etc would make it holding our parole deposit checks, direct deposit SSI, SSD, etc deposits 21 days before making the funds available to you?

I'll tell you...NONE of them, it was bad enough recently when they announce to hold them for a full 24 hours! I know it made me upset when they did. Anyway, I'm not at the end of this BS quite yet. I still think there is something very unusual if not borderline illegal about this activity, and I'm not going to be happy until I see the PROOF they can do it legally.

Jim

[becker2413]

We all should complain to BBB, about ...........CAN PP DO THIS? IS THIS LEGAL?

I AM NOW........... JUST NOT USING PP IS NOT ENOUGH FOR ME, HOLDS NEED TO BE FIXED!

IT'S JUST WRONG.

I WANT PROOF TOO

[becker2413]

FYI: takes 2 minutes to file.

BBB of Silicon Valley
(San Jose, CA)
1112 S. Bascom Ave.  
San Jose, CA 95128
Phone: (408)278-7400
Fax: (408)278-7444
Email: info@bbbsilicon.org
Web: http://www.bbbsilicon.org

[Aggravated2]

Out of curiosity I pulled up the complaints against PayPal nationally as I live a long way from California and currently they are not holding any of my funds so I have no complaint today.  

Although I highlighted and attempted to paste it, this site didn't like the html and

took out the grid lines so it would make no sense as a run-on sentence.  

In summary, in the last 36 months there were 7,157 complaints filed against PayPal, Inc. in San Jose, CA nationwide.  557 were given a full refund as requested.  122 received a partial refund.  3,845 complaints resulted with PayPal agreeing to perform according to their contract.  They refused to make any adjustment on 3 complaints.  1,856 complaints ended with PayPal refusing to adjust anything, relying on terms of "the agreement".  774 are unassigned, whatever that means.

[Jhazy46]

Aggrivated2

That may have been goo news if it had been from the past two weeks, as almost all of the griping on this subject is at least that old. But then again that info might reprersent a test rehersal by paypal in starting this crap. Well, after much deliberation and lack of three responses I should have rec'd from PayPal, I logged a complaint with the BBB. And, even though PP is accredited by the BBB, the accredation was before Ebay bought PayPal, and I suspect when this whole problem started.

I guess I'll find out in a week or two what gives as far as legality or morality of PayPal's action to start holding payments, and whether we'll have to live with it or move on to the next BIG thing.???

[becker2413]

  sarra1833 wrote:

OMG. i can see this working for ebay SELLERS but dot com owners on the net NOT on EBAY shouldn't be punished!

I do past life readings from my dot com! NOT ebay!

Children should be punished!!!!!!!!!!! Our history should be enough since it's enough for the buyer to bid, but it's NOT eBay it's PayPal!!!!!

I can only see it working for new PayPal users or known "Bad Sellers"

So, I take offense to eBayers should be punished, MOST OF US are honest people that rely on the extra money live!

Please Call PayPal and complain don't lash out us eBayers.

[sarra1833]

I was on ebay for 5 years actually........

and no, I'm SO sorry you read that wrong! 😞
I merely meant that (and I should have stated this but I was so upset I didn't) the email I got was all geared toward ebay sellers this and ebay sellers that and how easy it is to verify things sent. It said nothing about dotcom holders at all or how to get out of that predicament.

So when I said that people who aren't ebay sellers shouldn't be punished, I DO agree even sellers shouldn't be punished for what buyers do. That's just obvious - but wasn't in my last post and I still apologise for that. I was a seller too, after all. I closed my account. I'm done with the whole thing. I'm setting up google checkout now on my site.

[sarra1833]

And i only posted here as it's for help from paypal. I only followed the directions on the page I went to. I could speak to a fake person automated or come here for help. Alas, I worded things wrong. But still, I'm hoping paypal will give me a response to this as its ridiculous for everyone. I stopped selling on ebay a little while ago because they did that hold thing, then after, they lifted it and now it's on again. wth..... I don't get how they and paypal are doing this to honest people. We dont deserve this kind of punishment for trying to make a living.

Coudln't have come at a worse time; I'm saving money to get my son and me out of a very abusive home. ..... heh.

[hoochbobble]

Paypal doesn't have the right to hold money that ISN'T THEIRS.  Paypal is only facilitating a transaction, they are NOT entitled to do what they please with others money.  They are holding peoples money as long as they can to increase the interest they earn while it's in their account.  Robbing Peter to paypal themselves.   Can you say CLASS ACTION?Hopefully, someday they'll be forced by a judge to repay all the interest they've collected from illegally withholding our money.  I'm done using Paypal.

[Limey74]

I'm a new ebay and paypal user and this is the first and last time I'm going to be using either.

I had an auction end on Sunday, the buyer paid on Monday, the item was shipped and was received yesterday. Its now Thursday  and my money is still on hold. The buyer hasn't left any feed back yet so I have to wait 3 days before the money will be released, from the date the item was received. Then I have to wait 3-4 days for the money to be transferred from paypal to my bank?!

So basically I'm having to wait 12 days (I'm sure Saturday and Sunday wont count because they aren't "work days") to get money that has been paid to me for an item that I have sent and the buyer has had in his hands 2 days after paying.

I saw nothing about moneys being "held" if selling on ebay from paypals ToS or ebay. I think they should have to make it very clear because if I had known I would have used one of the other online serives.

Oh and just in case anybody didn't know, ebay OWNS paypal, they bought them out for $1.5 billion in July 2002.