Is PayPal Illegally Witholding OUR Money?

[talkradioguy]

PayPal's complete money-grab and retention of our funds is NOT legal. Hear me out:

If you sell an item, deliver it as promised, the buyer loves it and leaves positive feedback with no intent of asking for a refund, isn't that PayPal's definition of a "good completed sale"? Then, how does PayPal...illegally, imho...get to hold onto the rather large sums of money in many accounts and, if they do release any of it, they do so at a rate of only $500 per month..not the entire sizeable amount?

My business partner and I have actually hired a lawfirm to research the issue and (possibly) sue PayPal for fraud, illegal witholding of funds and...here's the really important one..."conversion". Google that one if you don't understand the law. Apparently, according to our attorney's research, banking laws prevent such a situation from occuring in the first place.

Anyone else have any thoughts on this (I mean, other than "it's their company and they can do what they want"). Apparently...they are breaking the law and need to be challenged in court. I'll let you know if/when that might occur.

[old_man_arthur]

Is PayPal Illegally Witholding OUR Money?

The word is WITHHOLDING, and the answer is NO!

You did read that contract before you clicked the "I Agree" box... Right?

[greatblades7]

Let me ask you this. EBay is now going through paypal and freezing sellers funds for up to 30 days. Because they say the sellers account is not to there liking again the item is delivered and also positive feedback is received. Tell me how that's legal. Why are they freezing sellers funds for up to 30 days and making interest off the money. There is no way that's legal. And that's exactly what they are doing to thousands of eBay sellers including myself who has been on eBay for over 10 years. Because they say for mom reason my account t doesn't meet there retarded standards. explain that one...

[hidy-hoo]

1.  A 4.7 in shipping is a red flag to eBay - when you add in the number of negs and neutrals that you have received, that's a double red flag.

2.  Positive feedback has no bearing on funds being released.  Online viewable tracking showing your widget as delivered, does.

3.  You agreed to eBays user agreement, which spells all of this out.

4.  PayPal no longer puts held funds in interest bearing accounts.

If you would like help/suggestions on how to improve your shipping time, ask questions - we would be happy to help you.

[komokwa]

 been on eBay for over 10 years.

Sorry GB7, that just doesn't mean anything to ebay.

Or for that matter to most corporations.

[hondamedic]

Seems this poster has had this ongoing problem.> http://community.ebay.com/t5/user/viewprofilepage/user-id/2835050

[e_bay_sucks_2013]

When PayPal actually works (which is most of the time) there is no problem. However three times in the last 12 months have they put pending on transactions. Encouraging me to send goods prior to releasing payment... Uhmmm 'no". Additionally refunding a customer who bought a phone from me (photographed working) and later (post winning dispute) admitted that he had spit liquid on said item shortly after recieving it! Emailing PayPal and eBay had an interesting outcome. My email address (hotmail) was suspended due to 'suspicious activity'. This was speedily resolved when I told them of my intention to visit there head office, loacated not far from me. Anyone that feels complaints about Paypal are from isolated whingers.. Has probably not encountered the internet yet... Or are employees of said company.

[mazz88]

I've read these comments. I'm starting to think some of you work for ebay. Always siding with ebay on every issue even when your comments are wrong. Your agreement with a company does not mean anything if state law differs. Paypal can post any agreement it wants , but if it is illegal it doesn't mean anything in the court of law. They are not allowed to hold your funds after a transaction has been completed. Then you see silly post stating they are not a bank and then post stating doesn't your bank to limits on your card. Well are they or are they not a bank. Guess what? That doesn't matter. Clearing houses are not allowed to hold your funds either. They can do it if there is a dispute with the seller, but they can't decide to just hold your funds. That is illegal. If you know a little about business law you would not even question this.

[hondamedic]

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@mazz88 wrote:
I've read these comments. I'm starting to think some of you work for ebay. Always siding with ebay on every issue even when your comments are wrong. 

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Ok.... Which one of us???

[hidy-hoo]

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@hondamedic wrote:

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@mazz88 wrote:
I've read these comments. I'm starting to think some of you work for ebay. Always siding with ebay on every issue even when your comments are wrong. 

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Ok.... Which one of us???

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[adf07bid]

"Ok.... Which one of us???"

Hondamedic: 0 results.

apparently not you at the moment....
get back to work! slacker... 🙂

[hondamedic]

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@adf07bid wrote:
"Ok.... Which one of us???"

Hondamedic: 0 results.

apparently not you at the moment....
get back to work! slacker... 🙂

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Let's see..... How can I make you sellers more miserable?.....

Poo flinging monkeys!.... New policies that only help buyers? Policies that sap your profits?

>>>>>>>>>

[adf07bid]

excuses excuses... when you gonna actually sell something around here... ebay needs some money...
if you dont sell something soon they might send you one of thoose poo flinging monkeys...

[adf07bid]

come on, donahoe hasent yet finished his xmas shopping, he's broke, ebay took all his money in fees... help him out by selling something.. lol....

[judyjudyenterprise]

Bump...

[komokwa]

bump....

4 what ?

or

What 4 ?

this matter was put to bed a long time ago ?