So...I've been on E-Bay and PayPal since 2001. Currently, I have a feedback score of 100% out of 195 total transactions. I'm a casual E-Bay'er and I only use PayPal to purchase and accept payments for E-Bay usually. Typically, I buy and sell car parts...but I have been known to buy the occasional "thing-a-ma-bobber". I've never had any issues with buyers or sellers. I've always shipped my auction goods in a timely manner, and I've always received my payments in a timely manner. Until recently that is... I recently listed (2) different items for sale on E-bay that sold for over $200.00 collectively. Of course, when I went to "My E-bay" to make sure that the funds had indeed been paid I was faced with a very puzzling "hourglass" icon under the "payment received" column. I thought...what does that mean? So, I did the next logical thing and logged into my PayPal account where I was greeted with...nothing...a goose-egg..."0". No payment, cash, green, moolah, etc. PayPal must now be run by the same guys who were investing in Mortgage Backed Securities or something. Who else would have imagined that PayPal...free-market PayPal...would stoop to such a low level? SO...I did some research in the dreaded "User Agreement" and found this hiding in it. "Actions by PayPal - Holds. We have updated our disclosures in Section 10 relating to your liability and the actions we may take. A User’s rights, responsibilities and liability under this section have not changed except for the addition of your acknowledgment that our decision to take certain actions such as holds and reserves is based on confidential criteria, and your agreement that we have no obligation to disclose the details of our risk management or security procedures". Basically, this says, "We (PayPal) are letting you know that we changed the user agreement, (that nobody reads and just agrees too by the way) and that your rights have not changed...EXCEPT...that now YOU agree that we can now apply HOLDS based on information that PayPal will NOT disclose, and YOU agree to that!" Now, boys and girls...do you see anything wrong? Or, did I not read that correctly? In conclusion, let me just say that as soon as I receive payment for my (2) last auctions. (If I ever do). I will be cancelling my PayPal account and conducting my business elsewhere. This is not a threat, but fact. PayPal has completely and utterly disgusted me. You will lose in the end. An Ex-PayPal "User"
... View more