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!

[mschenker]

Hello,

I called Paypal customer service this evening, and had a heated discussion with the representative.

Here's what I was told:

1. Until you have 100 positive reviews, Paypal holds your money (Note: it's not 100% positive reviews -- it is 100 reviews).

2. Even after 100 positive reviews, certain types of items will continue to trigger holds on your account (the representative would not make it clear what these are).

3. There may be other "unique" reasons why Paypal holds your money (I could not get a straight answer to what these are, and it made no sense, since my account has 100% positive reviews and no one has ever complained about my sales).

In other words, you can expect to have Paypal hold your money again and again without clear reasons.

There is no legal basis for this, and no clear explanation for why they do it.  It feels to me as if it's just an arbitrary decision by Paypal to hold onto money that doesn't belong to them.

After arguing with the representative, he entered some code that lifted the hold on my money.  However, I will never use eBay again.

Hope this information can help other people.

[belligo]

> However, I will never use eBay again.

I feel the same way.  I was told by Ebay that they are doing this to protect the buyer.  I reminded them that the buyer already has protection through Ebay, and she replied that they instituted this because Ebay was losing millions of dollars because of the "buyer protection" policy.  Too bad!  That's the nature of their business:  Buyers buy; sellers sell; and Ebay protects.  That's the way this works.  Sellers shouldn't be punished for Ebay's short-sight when they started the company.

My buyer never DID put in any feedback and he KNEW of the situation because we had discussed it.  Nice guy.  I had to call PayPal, give them the tracking number to prove  it was delivered; they checked while I was on the phone and then released the funds.  What a pain!!

[Cook74]

I have 94 positive feedbacks and mail out items next day.  To hold my account for 21 days is not right.  I think I will ask that buyers not use paypal if at all possible and use credit cards instead. They want me to use their preferred credit card or tie my account to a checking account.  I can not tie to a checking account since it is already tied to a different paypal account. Paypal does not allow more than one checking account tied to a paypal account.  How stupid...

[mschenker]

Hello,

The problems appear worse than I thought.

As I reported earlier, after PayPal had been holding my money for two weeks, I got on the phone with a PayPal customer service person.  That customer service person said he was "clearing" the money to finally be transferred to my checking account.  I went onto PayPal the next day and indeed they finally let me initiate the transfer.

Well, that was on September 23!  Here we are -- almost three weeks later -- and the money has still not been deposited into my checking account!!

Keep in mind, this was after a customer service person said the money was being released, and after the PayPal site confirmed that they had released the funds to my checking account.  Also, I now have a positive review from the buyer that was posted weeks ago.

I suggest that everyone spread this simple message to whoever you come in contact with: DON'T USE PAYPAL!

As an example, I was in a consignment store the other day and the owner talked about selling items on eBay.  I told her my story and told her to pass it onto her customers.  Better than any lawsuit is if thousands and thousands of customers tell everyone about these dishonest practices.

Anyway, I'm still waiting for PayPal to release funds that belong to me and put it, rightfully, into my checking account.

Thanks,
Matt

[evie6080]

Paypal held my funds for more than 21 days. They said the funds would be released on the 13th of October but nothing yet. I really need that money for my daughter's school.

[steamrollas]

I recieved positive feedback for a completed transaction more than 2 weeks ago and my payment is still being held.

Just what is going on, anyway?

In total, it's been close to a month already, and I really need this money.

[Firebuff66]

Im starting to give people who pay with US postal money order $5 off the price for not using PayPal.

It will be worth a $10 discount for NOT using paypal

This service is on its way out I sugest dumping them now and using US postal money orders if you can

Its much faster to wait 5 days for them to get the money, then send it to you, and you cash it, then ship their package, THAN to wait 21 days for pay pal to get off their butts

I NEVER in 6 Years with them had a problem. Now they want me gone and hold my money hostage.

Anyone know of a service like paypal but good?

[Zebster]

I'm back on eBay for the first time in a while to sell something, and lo and behold, I've just run into the new PayPal rules and policies about holding funds as well. All I can say is that this last auction is the last time I'll accept PayPal for something until and unless the policies change-- heck, it was easier and faster in the old days to accept a PAPER CHECK directly from your buyer! There are too many other payment options out there these days, and credit card acceptance software/hardware packages I can buy from the local office supply store.

What was that sound, PayPal? Oh.... that's all... just the sound of your slitting your own wrists.

[mschenker]

Hello,

I'm actually concerned now that I will never get my money.

The funds are no longer shown on my account page.  And yet, they have not been deposited to my banking account either.  I sent another e-mail off to PayPal "customer service" and have received no answer.  When I spoke on the phone with the PayPal rep, he said it was being deposited, and I even got an e-mail from PayPal weeks ago telling me it was being deposited.

At this point, it seems that PayPal is simply stealing my money and telling me lies to keep me off the trail.

I just cannot believe that they can get away with this.

[M57]

Hey guys, I too am suffering with the same problem and share your pain..

To be honest, Paypal are only putting holds on customers money as they can make money off of it.

All the money that comes from EVERYONES paypal is put into a SINGLE HIGH INTEREST FOREIGN BANK ACCOUNT.

Things starting to add up now? You think of the amount of money they are stealing off everyone who uses paypal.. Thats Millions!!

And with high interest?? They are making an absolute fortune out of us.

Now if you want something done about this, Write / Call the customer support and inform them that youv'e had enough and your going to chase things up with the "ombudsman". But dont just say it, DO IT. Each and every case thats taken up with paypal from the ombudsman instantly costs paypal £500.

Paypal are aware of this and will most probably release your money after you telling them so..