PayPal holding funds after 7 days of verification
Hey, yeah I have a big problem. I'm a digital artist, so I take commissions which are paid through PayPal. I recently completed a piece for 20$ and the payment went to 'on hold'. That was okay. I finished the piece and set the delivery to 'delivered'. The client responded to the email, and I got a notification that I'd receive money 7 days after verification. Well it's been 8 days and it's still not unlocked. I need this money to pay someone for a job. I've done what PayPal asked, by delivering it (digitally, of course) and having the client rate it as perfect, so why can't I access it? I'm loosing patience and I'm very close to moving away from PayPal with its stupid tax fees and pending payments
With payments received for tangible goods Paypal would request valid tracking information confirming the funds have been delivered to the buyer. As they can validate the tracking information online, once it is delivered they can release the funds. As you have received the funds for a service no tracking number is applicable and Paypal would be unable to release these funds any sooner than the 21 days.
The buyer may have the option on their account to mark the transaction as delivery/satisfied. If the buyer confirms this by clicking on the "Confirm Receipt" button, the funds may be released to you sooner. This is not always guaranteed.
Advice is voluntary.
Kudos / Solution appreciated.
So PayPal may lie and inform clients the hold is for 7 days but in reality it holds the funds for 21 days?
We understand that the longer PayPal holds the funds the more opportunity it has to generate profit from the held funds. But isn't that fraud?!!
Since "Quick Delivery" of funds is no longer an honest characteristics of PayPal
And "Security" and "Acceptability" are being offered by banks and credit card companies in better and more honest standards than PayPal...
What does PayPal have to offer?!!
Im right there with you i helped a buddy out and purchased a few items for him that he needed and he was paying me back thru paypal but lo behold they put this wait time on it when there are several other apps that only do a 3 day hold at most and less fees this will be the first and last time I have anyone send money thru paypal
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