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since ‎Jun-12-2013
Chessstudy
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Re: Temporary Hold on Refund

by Chessstudy Contributor in Holds, reversals & reserves
‎Jun-17-2013 11:45 AM
‎Jun-17-2013 11:45 AM
For the record, I bought on 10th July, the purchase was cancelled on the same day, The debit hit my account on 12th July. Paypal released their hold on my funds sometime today - 17th July.   I reckon this is the best that Paypal's current set-up can do.     ... View more

Re: Temporary Hold on Refund

by Chessstudy Contributor in Holds, reversals & reserves
‎Jun-16-2013 01:45 PM
‎Jun-16-2013 01:45 PM
It is the experience of many that Paypal is not willing to look into individual cases and act in an inconvenienced persons best interests as regards Temporary Holds. If penalty bank charges have been incurred because Payal is in this area as thick as two short bricks why not ask them to compensate you? If they refuse you could ask the banking ombudsman to look into it.   Paypal gets a percentage of the seller fee, in return they offer various guarantees. So does Visa and similar and with them you can talk to a person who is empowered to do something instead of effectively saying "this is the way it is so you have to wait." That sort of thing is an insult to the client, has nothing to do with customer service quite the opposite. If Visa were to act as Paypal does there would be an enquiry, I feel so sorry for the Paypal customer service people who know they are fobbing off others but are unable to do anything else if they wish to keep their job.   Paypal is a second rate service as regards temporary holds, I know of no other organisation that holds onto an undisputed refund for long after it is clear that a refund is due to their customer. I treat as I find, paypal has done enough to make me wary of using them for any large purchase as if a simple straightforward refund becomes due I will have to wait the best part of two weeks until they do me the favour of giving me back my own money.                 ... View more

Re: Temporary Hold on Refund

by Chessstudy Contributor in Holds, reversals & reserves
‎Jun-14-2013 07:41 AM
‎Jun-14-2013 07:41 AM
Paypal are annoying quite a few customers with their temporary hold policy. When funds are taken from your account within 2 days and you have to wait seven to ten days for a refund in todays modern banking world then something is very wrong. From past experience paypal will pay me no interest, yet they will hold my funds and those of many others for seven days or more and earn interest on those funds collectively. These silly people must consider it good business to tell their customers that the banking system is such that 7 to 10 days is the time a refund must take, it is the time it takes for sure, as regards "must take" Paypal could change that overnight. Paypal are in it for the money, they do not care if they frustrate users that need their own money in their own account sooner rather than later.   This is the second time that Paypal has done this temporary hold nonsense to me, they will not do it again in any significant way as I will in future be using them for small value items only. ... View more
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