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!

[jeffery1493]

I'm sorry to rant here, but PayPal created a need for themselves.     

Before they existed, I simply bought things with my credit card alone and didn't have to wait a week or 3 WEEKS (???) for people to pay me, or have additional "fees" taken out (bearing in mind, my bank is already taking fees out, and they do all the heavy lifting not PayPal).

I'm all on board with a nice additional service for protection and peace of mind during the transfer AND willing to even give them a bit of money to cover their service, but come on.    Using our money for investments?   Holding my payments from other people ransom??

We learned from Goldman Sachs that banks are evil enough, we don't need another baby Lucifer being spawned..........

[tomg]

has anyone tried ecommerce ?? store curious how it works ??? ebay is not fun and too confusing with payment holds on shipping charges

[Gypsy-Hawk]

I AGREE 100% I SOLD ON EBAY AND OUT OF 25 TRANSACTIONS ONLY 7 LEFT FEEDBACK I HAD TO CALL PAYPAL AND BEG THEM TO GIVE ME MY MONEY & AT FIRST THEY WOULD NOT BIT I GIT VERY MAD AND TOLD THEM I HAVE MESSAGED THESE BUYERS AND BEGGED THEM TO LEAVE FEEDBACK EVEN WAS SO HUMILIATED I HAD TO BEG FROM MY MONEY FROM BOTH THE BUYER AND PAYPAL..NEEDLES TO SAY ONLY 7 WERE KIND ENOUGH TO LEAVE FEEDBACK AS STATED NOT VERY GOOD ODDS. AND THE 21 DAY HOLD IS VERY BAD FOR ANOTHER REASON BUYERS HAVE UP TO 45 DAYS TO DISPUTE A TRANSACTION EVEN IF THEY LEFT YOU A POS FEEDBACK HOW MANY PEOPLE NEW THAT??? SO FEEDBACK REALLY MEANS NOTHING IF A BUYER WANTS MONEY BACK..SO IF THEY HAVE ACTUALLY 45 DAYS TO DISPUTE WHAT IS THE POINT OF HOLDING THE MONEY AT ALL??? WHEN THEY CAN COME BACK EVEN AFTER POS FEEDBACK AND AFTER 21 DAYS AND STILL FILE A CLAIM AGAINST A SELLER??????????? FYI TO ANY ONE WHO WAS NOT AWARE PAYPAL IS OWNED BY EBAY AS OF 2007 LOOK IT UP ON WIKIPEDIA AND YOU WILL BE AMAZED AT WHAT EBAY OWNS ON OF THE THINGS YOU SEE THERE..I AM SO DISAPPOINTED IN PAYPAL REALLY CAN CONSIDER IT PAYPAL ANY LONGER ITS REALLY PAYEBAY MORE MONEY NOW...IT WAS A FANTASTIC COMPANY BUT EVERY THING FEEBAY TOUCHES TURNS TO &&&)(*^*(%&^*%

[Djten]

Gypsy-Hawk wrote:

     FYI TO ANY ONE WHO WAS NOT AWARE PAYPAL IS OWNED BY EBAY AS OF 2007 LOOK IT UP ON WIKIPEDIA AND YOU WILL BE AMAZED AT WHAT EBAY OWNS ON OF THE THINGS YOU SEE THERE..I AM SO DISAPPOINTED IN PAYPAL REALLY CAN CONSIDER IT PAYPAL ANY LONGER ITS REALLY PAYEBAY MORE MONEY NOW...IT WAS A FANTASTIC COMPANY BUT EVERY THING FEEBAY TOUCHES TURNS TO &&&)(*^*(%&^*%......

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    I respect your opinion but I guess you read my little posting about them getting scammed, huh?

[Djten]

  You know, many of you need to go back and read or re-read my post on page #236. I sense a lot of childish anger in the last 2 - 3 pages. And not only that, but as I've said many times there's a reason why this blog is so active and why it's over 236 pages. And I think I can talk because I've been posting on this blog since about PAGE #60!

   Yes granted, we're all very upset but again if you read me on #236 it really makes some sense. And to the person who mentioned Wikipedia, maybe you can look the part about them getting scammed. And when you find out that information please post it because this is something WE ALL need to understand.

    Case and point: I folded my eBay store and opened up another one on ioffer.com. A purchase was made but PayPal told me the funds were on hold pending an investigation and that the buyer was unregistered. I said to myself "Oh no! Not again!" But to make a long story short, PayPal just informed me that the customer has issued a chargeback saying that they did not authorize that transaction! I just wrote to that person saying that I will refund their money ASAP. So you see, there is SOME method to the madness.

[SassyBarbie]

PAYPAL IS HORRIBLE. THEY CLAIM IF A BUYER DOESN'T GIVE FEEDBACK AFTER 5 DAYS THEY'LL RELEASE FUNDS AUTOMATICALLY. THAT'S BOGGUS. I'VE HAD TO CALL THEM EVERY TIME TO GET MY FUNDS RELEASED AFTER 5 DAYS. I'VE BEEN PAYING FOR THE TRACKING JUST TO PROVE THAT THE ITEM WAS DELIEVERD.  I SPENT MORE TIME AND MONEY ON MY CELL PHONE TO GET THRU TO PAYPAL!! AS A MATTER OF FACT AS I AM TYPING THIS I’VE BEEN ON HOLD FOR 15 MIN’S WITH PAYPAL. I HAVE 5 PAYMENTS THAT SHOULD HAVE BEEN RELEASED.  PAYPAL USED TO BE GREAT TILL EBAY TOOK OVER.  EBAY WANTS CONTROL OF EVERYTHING. I HONESTLY BELIEVE THAT EBAY ISN’T GOING TO LAST ANYWAY.

[rkelly1959]

My Biggest issue at the present time is that over $200.00 of my Seller Capital is being "held up" (I feel Robbed) by PayPal & e-bay (excuse me, don't I already pay to use both?). I actually have 2 ISSUES that are equally frustrating! One is the fact that a Buyer purchased an item with an "E-Check" which has delayed payment for over 10 days already!; and the other is a "Freeze" on Cash in my account because a Buyer FALSELY claimed that the item was not as described although I have Proof  through my details in e-bay listing that item was exactly as described; What's Worse-The Buyer already has the item and I am forced to Wait for a response and my $$ for (well it has now been approx 30 days) for a decision (As if I have to Prove myself and defend my Reputation against every Buyer who has a Bad day or does Not read the Item details; or more often than not takes advantage of the Credit Card Purchase Forum to Discredit and hold up Paying for an Item!!) At this rate my store will Cease to exist because I cannot take the delays in payment and still offer good deals!!) FREE MY MONEY! If there is a Quality issue it Should be Settled through E-Bay!!!!

[Neal452]

Ebay and paypal will dig themselfs into a big pit .. the only way to get them to notice is to stop doing business with them , there are more small sellers on ebay than big ones for sure its really sad cause ebay used to be a good place to sell and buy people could make a bit of extra cash and have fun ... as a seller on ebay for years we just started doing good despite the fees ect and than we get an email from paypal saying we are going to be blocked from getting our money for 21 days ... well they sent the email while we had no sales at the time so do not have any buyers waiting and we will close our store ...we sell online anyway off of ebay they were just one outlet for our store .. we do not have to put up with this mess look online for somewhere else to sell items its out there just have to dig a bit ..

Neal

[fairclothcr]

Nothing but crap I say ....  I have been with Ebay since 1999 recently I changed the user name to fairclothcr, a 100% customer satisfaction and a rating of 633.  And have also had a paypal account since the early days of paypal and I have never had one negative comment applied to my account either on ebay or paypal. 
    The fact that EBAY/PAYPAL have now chosen to hold MY money for 21 days till I can prove that the item has been delivered is simply wrong and puts a hardship on the little guy.  I have always used my paypal account to pay for shipping and handling, you are now asking me to ship the items on time and without using the money in my paypal account, therfore creating an even more hardship.  I am not a business, I don't have the financial backing of having money always avaliable to ship items.
     EBAY/PAYPAL is creating a hardship on the little man because he doesn't sell something on a daily/monthly basis.  This is nothing more than making more profit for EBAY/PAYPAL by holding my money, making interest on it daily and therefore creating profits to the shareholders.
      BOTTOM LINE: With this type of policy EBAY/PAYPAL is doing nothing more than running off the middle man and prohibiting him from selling and shipping items in a timely manner.

[lawilson8]

rmc, good idea about looking into legal options.  i will be happy to jump onboard that one.  We are the customer, without us, PayPal will die.  Maybe check into starting another payment option (company), i would be interested in that also.  Lee

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@rmc wrote:

I agree that it is very problematic for PAYPAL to hold funds that do not belong to them. They do get their transaction fee but hold t he rest. Some of our sales are drop shipments which means that we do not purchase the product until it sells and the we ship using the customers payment, this hold down inventory and allows us to sell for less. Paypal and ebay's irresponsible policy threatens this entire process. The paypal rep tells me that their are reason why they do this and one is if your feedback total sales number is below 100 you automatically get held on occasion. I believe this may not be legal and we are seeing an attorney about this 12/18/09. Paypal says they do not accrue interest on the held funds but I don't believe it. This entire thing is wrong and very poor business practice. They must have so much business they don't care about loosing a few. I also asked this, Even though there may be a low total sales number there have been no troubles with any shipment or customers. Their answer, "It doesn't matter if you are a good business owner, only the number matters" They also told me basically that if I didn't like the policy I should feel free to cancel my account and go elsewhere. I hope everyone affected by this and those that are not yet affected will call, complain and seek a change in this stupid unprofessional policy.

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