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!

[Nwestbay]

Oh, do I have an issue with this pending balance issue.  I began as a buyer on eBay.  Then after reading pages and pages of their rules, regulations and such, and I read every single word of it, I decided to give it a try....selling that is.  So, I sold a couple of really nice items that I no longer needed and SURPRISE....PayPal holds my funds.  I am furious, so furious that they see fit to monitor my sales and to HOLD my money for MY items, in which I am certain is an unethical practice, in fact, I am not sure they can legally get away with this.  I also read all about PayPal settling out of court in June 2004 to the tune of 9.25 million dollars.  Who do they think they are? Gods of the internet?

Here is an interesting point, while eBay encourages us to sale and provides us with drop shippers and certified drop shippers just how are we to get the funds to pay the drop shipper while they have our payments "pending"?  We make a sale, they keep our payments and we, the sellers, have to come up with the funds to pay for shipping, payment to the drop shipper and now a proof of delivery attachment.  I personally have filed a complaint with the federal trade commission.  If the FTC gets enough complaints, in which I encourage everyone to file a complaint, maybe we can get this rediculous and unethical business practice eliminated!   Now I know why there are multiple sites called "PayPal **bleep**" and so on.  When I complained about this issue to PayPay they actually told me that drop shipping was a bad idea!  I informed PayPal that eBay,  their owner,  encourages us to sale, to use drop shippers, I was told that I would have to address that with eBay......a completely different department.   Bottom line, they are holding millions of dollars, keeping the interest and the sellers are having to come up with additional funds to buy what they have sold.  It makes no sense whatsoever to me.  I am an educated Business/Accounting major with 32 years experience in the workforce.   I have never ever seen this or heard of this kind of practice.  A person would not be selling on eBay if they didn't want or perhaps need the money.  I wonder how retail mercants would react if our banks held out payments to them until it could be proved that we were happy with our purchses and we submitted receipts to prove that we did receive our order.  

  I ENCOURAGE ALL SELLERS TO:

• FILE A COMPLAINT WITH THE FEDERAL TRADE COMMISSION
• Contact drop shippers on eBay's certified provider list and inform them why their sales have plumeted
• Sign up for the next class action suit against PayPal

I for one will be thrilled when they have to pay out another settlement, hopefully the next one will put a real dent in their pockets by adding a couple of more digits to the "settlement".  Evidently 9.25 million is chump change for them.  We, the sellers "just want to maintain a safe market place" by filing yet another class action suit.

One final note, I love the fact that they are keeping the market place safe by holding MY payments.  I can sleep tonight knowing that my bills will get paid when PayPal feels that it is SAFE for me to receive payment for my efforts. 

N. Westbay

[femsol]

---

@Nwestbay wrote:

Oh, do I have an issue with this pending balance issue.  I began as a buyer on eBay.  Then after reading pages and pages of their rules, regulations and such, and I read every single word of it, I decided to give it a try....selling that is.  So, I sold a couple of really nice items that I no longer needed and SURPRISE....PayPal holds my funds.  I am furious, so furious that they see fit to monitor my sales and to HOLD my money for MY items, in which I am certain is an unethical practice, in fact, I am not sure they can legally get away with this.  I also read all about PayPal settling out of court in June 2004 to the tune of 9.25 million dollars.  Who do they think they are? Gods of the internet?

Here is an interesting point, while eBay encourages us to sale and provides us with drop shippers and certified drop shippers just how are we to get the funds to pay the drop shipper while they have our payments "pending"?  We make a sale, they keep our payments and we, the sellers, have to come up with the funds to pay for shipping, payment to the drop shipper and now a proof of delivery attachment.  I personally have filed a complaint with the federal trade commission.  If the FTC gets enough complaints, in which I encourage everyone to file a complaint, maybe we can get this rediculous and unethical business practice eliminated!   Now I know why there are multiple sites called "PayPal **bleep**" and so on.  When I complained about this issue to PayPay they actually told me that drop shipping was a bad idea!  I informed PayPal that eBay,  their owner,  encourages us to sale, to use drop shippers, I was told that I would have to address that with eBay......a completely different department.   Bottom line, they are holding millions of dollars, keeping the interest and the sellers are having to come up with additional funds to buy what they have sold.  It makes no sense whatsoever to me.  I am an educated Business/Accounting major with 32 years experience in the workforce.   I have never ever seen this or heard of this kind of practice.  A person would not be selling on eBay if they didn't want or perhaps need the money.  I wonder how retail mercants would react if our banks held out payments to them until it could be proved that we were happy with our purchses and we submitted receipts to prove that we did receive our order.  

  I ENCOURAGE ALL SELLERS TO:

• FILE A COMPLAINT WITH THE FEDERAL TRADE COMMISSION
• Contact drop shippers on eBay's certified provider list and inform them why their sales have plumeted
• Sign up for the next class action suit against PayPal

I for one will be thrilled when they have to pay out another settlement, hopefully the next one will put a real dent in their pockets by adding a couple of more digits to the "settlement".  Evidently 9.25 million is chump change for them.  We, the sellers "just want to maintain a safe market place" by filing yet another class action suit.

One final note, I love the fact that they are keeping the market place safe by holding MY payments.  I can sleep tonight knowing that my bills will get paid when PayPal feels that it is SAFE for me to receive payment for my efforts. 

N. Westbay

---

N.Westbay,

Thank you for your well written post and I am not suggesting this because you are new in posting but since you have taking the time to read all of the legal docs and user agreements you might want to scan through some of the past few pages of this 150+ page forum and pick and choose some posts to read, what efforts so many of us have taken and how holds are still being placed.  In particular my work background allows me to dig deep into the financial and legal implications and I alway provide links.

The FTC, BBB, Consumer protection agencies and the Attorney General of each state and Eric Holder himself are juut a few ot the people and entities that have been contacted.  The  law suit information is posted on the letssuepaypal.com site but I udnderstand there is a new forum topic on this but I have not found it yet.

[markwill98]

I have been selling for about 7 months now and out of the blue paypal has posted a note to my account stating

that all payments made would be temporarily pending. Why did they do this before now they did'nt hold anything.

[lucky1]

They just started doing the same thing to me.  I have never had any disputes or negative feedback.  They will not give me a reason as to why only to state that this is their policy and right.  Did you ever find out why they started doing that to you?

[whatnot126]

The item was shipped and signed for but the amount is still being held as pending.  What do I need to do get access to the money?

Thanks.

[Laynealways]

I've got 90 USD from a ebay transaction that was completed on March 31st. It is now April 16th and the money has yet to unlock, and there have been no disputes of any sort. 

[tacklebox00]

I just find it hard to believe that sellers must suffer a 21-day hold on our funds, and the steps to speed the process up are futile. Why must i depend on a random buyer to leave feed back; i tried and failed, and im sure others have as well. If we wait for an item to be delivered that takes avg about 7-10 days plus  3 business days after that; which i read people still haven't been paid after that. What it comes down to is, sellers must wait 21 days to get paid avg. 

E-bay and pay pal let us not forget its the sellers and buyers who made you what you are today. if pay pal would of started out like this, there probably wouldn't be a pay pal. Fix this issue because the day it was released there were hundreds or reply's and complaints.

[Laynealways]

Yeah definitely agreed! It's been almost a month since I was paid, why am I being punished?

[lion276]

It became very apparent to me today that Paypal doesn't give a rat's behind about anybody but PAYPAL.   I would bet my life that THEY are not waiting for their cut of the money while we wait for ours.  I am beyond angry.  To put pending payments on perfectly good sellers who have done nothing wrong is ludicrous and outrageous.    Whoever is responsible for this new trend needs to get their head out of their arse.    I think they must all be sitting around smoking crack. 

[grizzly900]

What? now you guys are saying you've sold stuff but your deposit is being held by pay pal for the buyer to leave a note about the purchase? are you kidding me? this is insane. if the money is good then what are the ways the money could be bad when a buyer drops money into an acct? would that person have to say it was the wrong email address i dropped was connected with?

i haven't used pay pal much over the years although i have sold a few things at a good price in the past. it seems my money was into my checking acct but what your saying is news to me. im now a bit scared to accept pay pal as i  just switched over from my credit union to the new financial instution im banking with now.     just waiting for the 2 small deposits.

i have a guy wanting to purchase from me but now i wonder what the heck will happen if it shows a deposit then i wish to transfer it into my checking. i sure hope there isn't no hold up. i just moved and need money for gas in my truck. it's that bad. thanks for the talk. any tips welcome. i took my time about deleting my old addy and phone nad bank acct. numbers. Reply

[grizzly900]

What? now you guys are saying you've sold stuff but your deposit is being held by pay pal for the buyer to leave a note about the purchase? are you kidding me? this is insane. if the money is good then what are the ways the money could be bad when a buyer drops money into an acct? would that person have to say it was the wrong email address i dropped was connected with?

i haven't used pay pal much over the years although i have sold a few things at a good price in the past. it seems my money was into my checking acct but what your saying is news to me. im now a bit scared to accept pay pal as i  just switched over from my credit union to the new financial instution im banking with now.     just waiting for the 2 small deposits.

i have a guy wanting to purchase from me but now i wonder what the heck will happen if it shows a deposit then i wish to transfer it into my checking. i sure hope there isn't no hold up. i just moved and need money for gas in my truck. it's that bad. thanks for the talk. any tips welcome. i took my time about deleting my old addy and phone nad bank acct. numbers. Reply