I recently sold something through a forum. I received the payment from the buyer and it's been put on hold. Probably not a new thing here on the forums.
When I asked why, the CSR kept saying "it's for your protection" but when I asked how that was protecting me, they just said, "it's for your protection." Then they closed the chat.
Can anyone here explain how I'm being protected in this situation? The buyer could say they don't like it, or it's the wrong color or it's monday... whatever, and I won't receive payment, and they keep the item. That seems like it's 100% in favor of the buyer, not the seller. Not to mention unfair.
I am paying 3% to paypal for merchant fees, to accept payments instantly. if I went through square, or AMEX etc, I would pay the same amount in fees, and get the payment when it was sent.
I've been a paypal member for over 20 years with no issues.
So again, who is benefiting when PayPal holds a transaction? (bonus question, why won't paypal customer service answer this question?)
... View more