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!

[Omj28]

I

[GAboy]

Long term E-Bay and Papal user but what a surprise to see my funds held for 21 days with no PRIOR notice just so Pal pay could make interest on my $1,800.00.

Even after the 21 day hold, for 2 days now I have been waiting for them to transfer the funds into my Bank (pending). I consider this the last time that I will use Pay pal.

Hey I would like l hold anyones money for 24 days and charge a service fee for doing so.

Paypal  This is a total rip.

[Fatherof2]

I've been buying/selling on ebay for over seven years with 100% positive feedback and I get a 21 day hold placed on my funds???

I'm furious, this isn't the way to treat loyal customers. They need some competition because without it we get heavy handed, shady policies such as this. I'm still in shock, this is unbelievable.

[joke]

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@GAboy wrote:

Long term E-Bay and Papal user but what a surprise to see my funds held for 21 days with no PRIOR notice just so Pal pay could make interest on my $1,800.00.

Even after the 21 day hold, for 2 days now I have been waiting for them to transfer the funds into my Bank (pending). I consider this the last time that I will use Pay pal.

Hey I would like l hold anyones money for 24 days and charge a service fee for doing so.

Paypal  This is a total rip.

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Could not agree more this is our money what about those people who never leave feedback! 21 days to get your money? I think their going to change it to if people have low performance on eBay. Because PayPal sent me an email lifting payment pending policy. I have very high performance level you should get an email or contact PayPal. REGARDS 🙂

[RSPAWN]

On top of the HOLD crap. I have failed to garner even 1 KUDO.

How about showing a little love guys. Are my comments really that uninspiring 😉    ( Rhetorical question, don't start!)

[Junior57]

Never again...I am DONE SELLING on Ebay. I have had my PayPal account for YEARS. My sold item is digital and has no shipping so I wait. You guys get no more of my money...EVER!

[KrakrJak]

You don't have to be done with eBay, just be done with PayPal. After I got the 21 day hold message and called PayPal to no avail, I simply changed my accepted payments on eBay. Now all my auctions say Postal Money Order Only, PAYPAL IS NOT ACCEPTED!! No more problems, no more waiting for my money to be released, no more fees, and not one complaint about not taking PayPal from any customers. I still sell just as much, and make more profit now.

[RSPAWN]

Every one please remember that when you do business with Ebay you do business with Pay Pal. Ebay acquired Pay Pal sometime back. SO, even though the money may go in different pockets, they wind up in the same pair of pants.

I can't imagine Pay Pal did this without the blessing of Ebay. In fact I would propose that this was done to help offset the purchase expense. Think of the millions of dollars of float sitting for an average of 7-10 days. We are talking several million in  interest over a year's time. I have worked with Tax Collectors in the  past with Software made specifically to post deposits quicker and hold money longer. Even small rural counties make several hundred thousand in a year banking the float; Not to mention the other perks ( reduced fees, no fees, etc.) they get by running this amount through a local bank.

I appauld changing the way you do business in regard to Pay Pal and alternate ways to collect or pay. But again Ebay and Pay Pal are in "cohoots." In addition, the woman that owns Ebay is running for office in CA. Wonder what she will do if elected when she condons and worse dictates the financial (Carnal Knowledge) of the very people that put fuel in her campaign jet (s).

[mweimer]

I appreciate the supportive comments I've read in this thread, but I wanted to clear up one argument I've read several times.  It's true that Meg Whitman is running for governor of California (where I live), but she is the former CEO of eBay, not the current CEO.   She was CEO from 1998 to 2008.  Yes, she has spent a record tens of millions of her own money on the campaign, and that fortune is largely funded through her own eBay stock, so her fortunes are tied to eBay's fortunes.  But she no longer works at eBay, she was not the "founder" of eBay, and she is not "the owner" of eBay, unless you consider that any stockholder is technically a partial owner.   (Don't worry, I'm not a Meg Whitman apologist, nor do I wish to turn this thread into a political debate, though I'll say I won't be voting for her.  I just think arguments are stronger when they are accurate, hence the above facts for your use.)

[RSPAWN]

I reported good Ole Meg as the CEO. I did a bit more research because I wanted to be accurate.

Here is what I found

EBAY BUYS PAY PAL JULY 2002

I found reference to the PAY PAL HOLD POLICY in Feb. 2008 article. Never could nail the actual date of implementation down, funny huh?

Good Ole Meg retires March 31, 2008.

So far so good?

I am SUREEEEEEEEEEEEEEEE, she had nothing to do with it.

My thought would be however that MONTHS! Prior to the actual implementation, there was a pizza party or a tailgate BBQ (maybe fish and chips) in which someone may have discussed it a time or two, what do ya think? AND I would further propose that there would have been some high level folks signing off on it prior to implementation. SO, look. Meg isn't the main issue but if you believe she had nothing to do with this policy, I would agree to disagree. Leopards and politician don't change their spots. NOW if she were to use her savvy and play on OUR team ( taxpayers) I welcome her. BUT.......my guess is NOT.

I hope this clears some air and that I might be vindicated. If not, so be it. Pay Pal is still the villain that we fight today not each other and not Meg Whitman. Stay Angry my friends!