Paypal Are You Listening?

[brandonroloff]

I sold a pricey item on ebay and paypal has been holding my funds now for more than 7 days.  I understand that they have a new payment witholding policy.  However they are not fully disclosing the rules of the policy if full detail.

So far I have learned that paypal holds your fees for 21 days (pending no complaints) or when the buyer leaves you positive feedback or once paypal has acknowledged that your item has been received. 

My item arrived yesterday but my funds were not released.  I read the info about the pending holds but it does not mention specifically when the funds will be released (other than 21 days).    I called customer support and was told that paypal will release the funds 3 business days after they item was "received". 

Where on the paypal website does it disclose this information?   I have been an ebayer and paypal member for over 8 years without any issues, negative feedbacks, i have 100% positive feedback and out of the blue they are now going to start holding my payments?

I can understand holding "sketchy" sellers moneys , but not your good 100% positive feedback sellers.  The person that bought my item is a new user and only has 3 positives and he has all of the protection.   Ebay / Paypal's protection policy is completely one sided for the buyer.  

Once I receive my funds I will be terminating my ebay and paypal accounts and I encourage you all to follow suit.

[bennycobb]

I FULLY AGREE!!!!  Same thing has happened to me today and I am in the exact place you are; 100% POSITIVE FEEDBACK, YEARS OF E-BAY USE!  My theory is the potential for interest revenue on so called "held" funds is unfathomable; I question the ethics here!!  I will be removing pay pal as an option for payment...FORGET THEIR FEES AND NOW THIS!  BAD POLICY WILL CHASE HONEST USERS AWAY! 

[bennycobb]

P.S. Just filed a complaint with the FTC!

[brandonroloff]

Good idea!  I also filed a complaint.

We have received your complaint.

Thank you for contacting the FTC. Your complaint has been entered into Consumer Sentinel, a secure online database available to thousands of civil and criminal law enforcement agencies worldwide. Your reference number is:

24513228

[123tw]

I will be removing pay pal as an option for payment..also I dont think I will use paypal anymore

[lii]

In case you all (and the other disatissfied Paypallers out there) are interested, http://www.classadvocate.com/ is a dynamic listing of current class action lawsuits in the U.S.

I don't work for them or anything and I'm not advertising using them as a service, I just think when you're upset with a company it's always fun to know whether they're getting sued for doing the same thing they did to you to other people. Call it a small sadistic pleasure. 😉 And that site is fairly user-friendly and popup-free.