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!

[tiredofyourcrap]

I am sickened by what paypal (an ebay company) is doing! I'm a casual seller on two sites. I have 100% positive feedback on both. No disputes, no issues, and somehow they seem to think it's o.k. to "hold" MY money? I need to buy milk and bread for my family you morons! I think my kids will be pretty hungry waiting 21 days for food! I have a hatred building in me that I never knew was possible for a loving and easy-going person like me. I'm looking into other payment options and ebay can kiss my Christian $#@! There are other sites to sell on that don't try to squeeze the life out of you, hold your money hostage, or restrict buyers to one payment type. Those sites will take off and do well if we all stand together and leave ebay in the dust... 

[tiredofyourcrap]

eco123eco...thank you! I hope that everyone takes the time to read what you wrote. We do need to stand up to this crap, and say enough is enough! It doesn't matter how much of our bread and butter they "hold", if it's .99 or thousands, it's NOT their money! period! While we're trying to figure out how to buy food for our families, these rich and greedy creeps are laying on a beach counting out OUR money! What's wrong with this picture?!!

[HiddenCravings]

I knew that ebay was going to be holding money back in Aug. 2009, I had a fit with them when I was on the phone.  They started putting a hold on 25% of my sales I made on ebay for 60 days.  I asked why??  The said they were going to start holding everyones money, to help insure that the buyer can get a refund if needed.  I'm a small business owner and I told them when they hold 25% they are holding my entire profit.  They don't care!!!  I have not sold on ebay in months because of this.  Well today 1/11/10  I was going to start selling again, but after reading all these posts about Paypal now holding money for 21 days, I don't think I can afford to sell on ebay anymore. 

What did the lawyer say when you talked to him?

[eco123eco]

letssuepaypal.com,  go there and see for yourself what is going on hidden cravings!

[LifeMasterAJ]

I got ripped off once by a seller who was probably re-listing the same book over and over again. I can see a need for Paypal to protect the buyer, however, they ARE damaging my faith in them by this excessive policy.

I sell on EBAY as well. I sell lots of chess book and I face the 21-day-hold o funds almost continuously on my lots of multiple chess books.

[femsol]

I sell on EBAY as well. I sell lots of chess book and I face the 21-day-hold o funds almost continuously on my lots of multiple chess books.

LifeAJ

If you have lots of chess books to sell have you checked out Amazon.com as an alternative. Very simple system which protects buyers and sellers.  Just a thought.

[mparent]

Absolutely!  We are their source of income and we were not even consulted on this!  Notice their criteria for withholding funds?  They made sure it encompases everyone!  I have 100% feedback and top DSR's!   They are taking WAY too many liberties with our money and I think we should show them they are not indespensable and business can be done without them!  After all, we are the customers and they need us we don't need them.  I think they need to be reminded of that.  I say let's pull out and show them who all these transactions that have been supporting them actually belong to!  Has anyone checked with the Attorney General's office to see if this so called "funds availability" is even legal?  I intend to do that today.  Paypal is not one of the commerce departments favorites anyway.  Watch for this on Good Morning America!!!!   Sorry paypal.  we took a lot of stuff you were dishing in the past.  But in the end it is OUR money.  And it should be treated as such.  As I said, we were not even consulted on this.  Time to learn, WE are the ones supporting you!  You make money from OUR transactions.  You need us, not the other way around!!!!!!!!!

[casualseller]

I must be missing something. For what accounts/transactions does Paypal hold funds for 21 days? I just sold something yesterday, withdrew the funds today, and the ACH transaction will take 3 or 4 days to post to my checking account (as is normal for electronic transactions).

Did Paypal change this policy?

[Chewbaby13]

Interestingly, I have noted that they say that if you have a charge card on account (credit card) that they will not hold your funds for so long.  Don't know if that would be true or not.  I have that issue trying to put funds into my paypal account from my regular bank account.  I was considering using it for my business when I get that far, but, after hearing all this, maybe I should reconsider?  Any suggestions on other electronic means of doing sales with others?  I have heard of Clickbank if you have an online store.

[JHR]

Horrible idea to shaft the people that a paying them.  I just removed paypal from all my e-bay items.  I can process my own credit cards so why should I put up with this policy?