eBay-Paypal's New 21-Day Hold on Funds

[atticofunclefred]

Last night I received a disturbing Paypal payment, it was definately different. The email said in part...
"You've received a payment....blah blah blah... We’ve placed a temporary hold on the funds for this transaction...blah blah blah....We’ll release the hold in 21 days..."

The email further states that Paypal/eBay MAY release the funds early if:
1. The buyer leaves you positive feedback on eBay.
2. We confirm that the item was delivered.* We can confirm delivery if you ship the item with USPS, FedEx, or UPS and either use PayPal shipping labels or upload tracking information from the transaction details page. This applies to transactions within the United States.

The email also instructed me to SHIP the item right away.

No. 1: I don't need eBay or Paypal to advise me on something I already do very well. Although we are relatively new at this, we have STELLAR Rating of 100%.

No. 2: A 21 Day Hold on our money is B.S! Its OUR money. But of course this maneuver allows Ebay & Paypal to significantly increase revenue by reaping (raping) the interest on millions of dollars.

I too want eBay to be a safe and trusted shopping venue, but this punishes those of us who follow the rules. It should be implemented on only those who are failing to provide quality customer service.

I also noticed the sneakiness involved. This was not widely broadcast in advance (I don't recall hear/reading anything about it) and It was implemented on a Friday afternoon. I sure hope everyone raises 2 colors of hell about this. Lodge a Formal Complaint.

Uncle Fred

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@bid11e wrote:
What happens if you email concert tickets? Emails don't have tracking number. Also what if the buyer doesn't leave any feedback to say they have rec'd the item? Will I still get my money. My buyer paid straight away after the auction and I emailed them twice asking them to confirm what email address they wanted tickets sent to but no response. Even after sending tickets via email no response! My eBay status is rated as above standard and I have sold over $3000 of items on eBay and had no negative feedback. I also buy off want and have good feedback. I think I meet eBay so call security risks standards. I hate this new system, have sold a lot of thing on eBay and always go access to my find immediately! Gumtree here I come!

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Ebay also owns Gumtree

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@btech_print wrote:

Hi

2 points

1) Ebay was told by Australian Consumer Competition Comission to cease and desist requiring paypal (only) as a form of payment.

     so now we have Paymate and Paypal.  You have to pick at least one, and then can have "cash", "credit card", etc.  Yet the ebay

     help document says I can have "credit card" as a trusted source.  You cannot - it's not available anymore.. 

2)  I don't want to wait upto 21 days for payment (I live week to week, and sell a few extra things on ebay on the side).  I've sold $500

     woth of items in 2 years - totalling 10 items.  Perfect feedback (when they choose to leave it). 

     - No negative feedback

     - No claims for incorrect/missing items

     - No claims for anything in fact.

This is "risky" - and my items attract the up-to 21 days wait.

The buyer is covered for upto 45 days after the sale.  this is only a money making exercise on ebay/pay pals behalf.

I will be raising this with the ACCC - and I urge everyone who has the same issue to raise it with the relevant financial body in their country.

In Australia Ebay/Pay pal is already being questioned about tax fraud because of the structure of their companies - and the way the money

goes off shore.

Yes Ebay does need to make buyers comfortable - but Ebay needs to remember the WHOLE REASON that ebay/pay pal exists is to take

some fees from sellers.  Less sellers equals less customers - equals less profit.

I'm moving to ETSY and GUMTREE (less or no fees) for all my selling..

And I urge everyone who posts here to use tags like below - to get the search engines to continually bring up this post (and similar) when anyone searchs

for the words...

** EBAY PAYPAL POLICY 21 DAYS FRAUD RIPOFF SCAM PROFIT MONEY **

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Ebay also owns Gumtree

[redbud_farm]

Buyers using pay pal now have 180 days to file a claim

[andray-pall]

I will be sending debt collectors to my buyer because they do not own it till i get paid, i have not recieved any money, that means i still own the item, it may sound harsh but it is true the buyer has to deal with ebay and paypal i am owed $290AUD i followed all ebays steps but investing our money is harsh too, and its funny how tags are switched off

[redbud_farm]

Lol, buy would sue for false dept collection attempt. It'd cost more than the item.

Pay pal holds the payment , you agreed to this by using paypal

[neleb0412]

Solution. Dont use Ebay enymore. I have had this happen twice (long time ebayer) and they tried to hold my money. I just cancelled the orders and sold outside ebay... Ebay has become an absolute joke.

[redbud_farm]

You don't like a rule so you violate other rules, good way to lose your account

[woab84]

what i do is call paypal 3 days after it has been delivered. they can and will unblock ur funds if you have the proof of the item being delivered. Usually the tracking number. 

works wonder. 

[redbud_farm]

Most deserve the hold due to complaints

[awak3000]

Give your idiotic "age is measure of time..." line a rest.  Once is OK but it wears REAL thin after then tenth time or so.

[redbud_farm]

Lol, read up on signatures on boards

[ftro6276]

Try this: buy something from Amazon. Tell them you are sending them a check post dated for 21 days from now. But they have to ship immediately otherwise they will get negative feedback and the check they sent canceled. Tell me how far you get.

[redbud_farm]

You have the funds, buyer has paid. The hold is not the buyer's concern/problem

[3dhobbys]

The worst violation on ebays part on this is the 90 day probation period can actually be 111days if you sell an item on 90th day  then the money in not released until 21 days after that so 111days and the 90 days only start when you first sell and item so if you were a buyer for years before you still have to wait te 90 plus 21 days to be allowed to get your money instantly

I wonder how much momey ebay makes on interest on the money they hold

[redbud_farm]

It's been policy for years.

Even those selling for years can get restricted and have the holds. 90 days isn't the only requirement