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!

[CindynScott]

Still...............................................Do not have my money..........................................Still do not have my money......................................Days later and still, I do not have my money!

I pray for the day that PayPUNK goes out of business!

Scott

[BriBrewer]

I agree with everyone that this is very inconvenient and should not be allowed! However, I just want to let you know...if you did delivery confirmation and the item has been delivered...three days after that if you still dont have your funds. Call Paypal. They will immediately remove the hold on the funds. I have never had to wait more than that for money.

[sultanas]

well i think this is all bs.....i will close all my accounts...good bye ebay!!!!

[flotoror]

olivia is a shill for pal and will not agree with you...pp is gaining interest on our money period..thats the reason...im still waiting for 200 bucks and its been 20 days...sooooo,,....so sick of ebay pp doing what they want without any oversite.

[jkornbread]

This is all a complete pile of BS.  I have been a Paypal customer for like 6 years, and now suddenly I'm getting these holds.  I'm sorry, but no other payment processing company does this.  If I had to wait 3 weeks to get funded from a credit card processor it would be impossible to do business without MASSIVE financial backing.  What really **bleep** me off is I have since closed my business, asked that my account be switched back to a personal account, and it has yet to be done.  So, here I am a verfied member with never even a single dispute or black mark against me and you are putting holds on my account. 

Hope all you that own shares in Paypal get out while you can!  I see share values going through the floor as this stupid proceedure goes on and more users like me abandon ship.  I'll be avoiding Paypal until its removed.

[owls]

This payment hold policy is beyond inconvenient, it is abusive and legally questionable. I am a consistently 5 star rated seller with a 100% rating. I ship exactly what is described  and purchased and I ship merchandise the same day or the next day at the latest, priority mail, insured. The customer gets their product within 2 - 3 business days and I'm left waiting and hoping that they will leave feedback quickly so that I can receive the money that I depend on to keep my business going. Many customers do leave feedback in a timely manner. Many more never leave feedback. So, the buyer gets their product in a timely manner, PayPal gets to sit on my money for up to 21 days, all while I'm left dangling and waiting for money that I count on.

And, to make matters worse, I've gotten 2 emails from PayPal saying that because of my consistently good performance they are removing the payment hold policy from my account. Low and behold after a few more sales and the money adds up....the payment hold reappears again!

Just like Ebay....it's all about the buyer with little to no recourse for the sellers. 

[kserrah]

Same thing happened to me!  Got an email this morning and sold tsome thign this afternoon and sure enough there was the HOLD!!!!  **bleep** isnt the word!

[jg2012]

So paypal says from now on my payments are being held. I've had almost twenty dollars in my pending balance for about a month now and I'm starting to become frustrated because to me, there looks to be no reason for paypal to be holding my money. I would really like a fairly logical explanation to this. Please.

[TiffKing1986]

I really agree with everyone as well. It's stupid to have to sit and wait for your OWN money to come out of a company's clutches. I sold on eBay thinking it would be great to be able to do it and get it done. The Pod I sold was easy. Great buyer who left me feedback..However the phone I sold it's been 21 days and no positive feedback and I know it shipped to her. Plus today was the day PayPunk was supposed to release my funds and guess what IT'S STILL IN PENDING!! I call bs. I stopped selling on eBay after only 2 items. Why should they get the money for something I own and want to sell and when it comes to my money why should I have to sit back and trust a company to hand it over in a month when I need it now to go back to visit my family because my dads dying.  I now sell on craigslist.com and fisherslist.com because I can just deal locally and meet the person somewhere and get cash in my pocket and not worry about a third party being greedy and wanting money as well and if someone from far away wants the item by all means I'll ship it to them for cheap but at least I'm not charged an arm and a leg for it. More cash in my pocket and less in the greedy companies.