HORRIBLE IDEA TO HOLD FUNDS FOR 21 DAYS!!!

gearhed78
Contributor
Contributor

  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!

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zoreck
Contributor
Contributor

As a very long term seller, I can tell all of you this.

Ues there is pretty of proof ebay owns paypal. They bought it several years ago, In the beginning (god, I sound old) it replace the escrow system. Let's be honest here, we all know or should know that a certain percentage of buyers are going to complain and want their money back. Most or many times the postage makes it so it is not worth our while to have it returned and they know that. I have also seen people who had complains selling what they complained about. So, the question is this, what system protects both sides? (as there are bad sellers out there too).

In my mind Amazon has it right. The moment you confirm an item shipped money is released to your payment account and once daily you may request it to de deposited to your checking account or whatever you do.

If a problem does arise and at times they do, the buyer is to contact the seller and work things out with them. If that doesn't work they have a A to z claim systems where the buyer and the seller can present their cases. You. do pay postage up front but it is not a long haul till you get your money, 3 to 5 days. E bay's half com pays twice monthly. With Amazon the postage is set in advance, sellers cannot change this. When you get a sale the postage is credited to you and you ship, If it less you make out and when it is more you don't. Half.com is basically the same you just get a slighly higher fee.

E bay is good for when you have niche items, such as coins, dolls, watches etc and one should use all 3. Which one you sell on the most is your choice. It has always ben known as a higher fee company and I suspect it always be, so how do I use it is the question and I have said when you are selling niche items or those things not in the catalog at the other sites (yes, you may make a request to add the item to the catalog.

The situation is, use all 3. It works out.

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TheMoneyMan
Contributor
Contributor

That is the way it is. It can be extremely annoying and there are ways around it - if not just stopping completely and just using a personal paypal account like I do.

 

Good luck.

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sonowyno
Member
Member

Ebay owns Paypal!

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Hello!!!!!

 

For those of you that think paypal is in bed with Ebay...you are right!!!! Don't you know Ebay owns Paypal?? It seems to

 

me that there is a conflict of interest there. Speculation, anyone?

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Mishelle
Contributor
Contributor

Wow i`ve read a few of the situations and comments on the front pages and now the back of this post (WAYYYY to many to read all together) so the questisn those who's monies was on hold since have you gotten paid as of yet?

This is deep, something to think about, however nothings perfect so its great places like this is here so we can openly and publically discuss it. For those who or new and veteran PP users alike.

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femsol
Frequent Contributor
Frequent Contributor

@nobodysperfect wrote:

Hello!!!!!

 

For those of you that think paypal is in bed with Ebay...you are right!!!! Don't you know Ebay owns Paypal?? It seems to

 

me that there is a conflict of interest there. Speculation, anyone?


 

I am constantly surprised that many people are still not aware that eBay  purchased Paypal in 2002.  In my opinion this was not a big deal at the time as no radical changes were made.  No one complained or made an issue of this acquisition so it appears that over the years eBay through PayPal has been slowly making changes without much fanfare or notice by sellers and buyers and we,or at least I, became complacent even though rising fees and slower sales were occuring.  If not for this attempt to change policy and sell us on the 21 day hold period I would not have woken up to what has happened and looking for smarter and less expensive alternatives-and the\y are out their and only too happy to have us join their auctions..

 

I also do believe for one minute that Paypal made a mistake on holding seller's funds but have sent out their apologyt email to cover their A**.

 

Either way I am still through with them but will continue to support this forum in any way I can help.

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pfannkuchen
Contributor
Contributor

Paypal was bought by ebay, they made billions of dollars. What they are doing is illegal, but they are not a bank, so they are not regulated by the Feds. Complain to every possible agency, I did.

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Qwelldrin765
Contributor
Contributor

DIANN While I sympathies with you as a buyer was the Chinese seller a 100% feedback seller. It will still not change my mind about selling I sell books Worth over £500 I am not going to ship them until money is received and delaying payment into my account by 21 Days means that eBay becomes an unusable system for sales. The buyer is out of pocket and as I can only check buyers profiles after the winning bidder has been announced I would have to have different delivery dates system depending on how trust worthy the buyer is there is no protection for me the seller by PayPal or eBay.

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DIANN
Contributor
Contributor

NEITHER BUYER NOR SELLER SEEMS TO HAVE A SAFETY NET WITH EBAY OR PAYPAL.  I COLLECT FIRST EDITIONS OF JOHN GRISHAM.  THEY ARE NEVER LEAVING MY HANDS, IF I DO DECIDE TO SELL, UNTIL I HAVE THE MONEY IN MY HANDS.  WE NEED TO FIND SOMEWHERE THAT PROTECTS ALL OF US. I DO PURCHASE A LOT OF BOOKS ON AMAZON & EVERYTHING I HAVE PURCHASED CAME EXATLY AS DESCRIBED OR BETTER.  SOME OF THE USED PAINTING WITH SILK TEACHING MANUALS LOOKED AS THO THEY HAD NEVER BEEN USED.  THE SELLER CHARGES $3.99 FOR SHIPPING, PER BOOK.  BUT I WONDER IF THEY ACTUALLY MAKE ENOUGH MONEY FOR WHAT THEY SELL.  I BOUGHT A TEACHING MANUAL FOR $16.00 PLUS THE SHIPPING. THE BOOK CAME LIKE NEVER BEEN USED.  I FOUND THAT BOOK AT A NEW BOOK STORE, SOMETIME LATER, $249.00. I ACTUALLY FELT LIKE I RIPPED OFF THE SELLER.  BUT AMAZON IS NOT AN AUCTION, SELLERS LIST THE PRICE THEY WANT.  WHEN I NEED MORE BOOKS,I KEEP A LIST OF THOSE GREAT SELLERS, SO I CAN GIVE THEM REPEAT BUSINESS.  BUT NOT ALL PEOPLE ARE HONEST.

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tbfelton
Contributor
Contributor

 


@KB wrote:

I am rethinking using Paypal also.  They are obviously in bed with Ebay.  They put my funds on hold for 21 days but they paid themselves.  They should have put the whole payment on hold.  Instead Paypal took their fee first and then put the remaining funds on hold.  I think Paypal should really rethink the way they want to treat their customers.  This business won't last for long this way!!! I refuse to ship my item until I get my funds as Payment.  So the buyer will have to wait until funds are clear just like checks and banking.  You don't get to receive an item until it's paid for first.


 

HELLO not to be rude but don't you know Pay Pal and eBay are one in the same now and have been for years. They are both owned by the same person.

 

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