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

[debdress]

I wish I could give your post 100 thumbs up!

[redbud_farm]

Or understand ebay isnt going to go bsckwards. The changes were good for ebays bottom line and will not be removed.

You learn to work with in the system

[stormynight]

Forfeit ebay , if they lose lots of customers sellers etc rules will change........EBAY DONT kick the people in the guts that makes your business a success . .i was selling old collectables now i give up rather keep them than put up with scamming business, my ebay days are over....i tell u what my stress levels have now dropped thank god ,ebay u dont get a cent from me now ,and that makes me happy ...forfeit ebay

[redbud_farm]

Rules rarely change here , seller's just learn to work with or around them.

Mega sellers don't care.

[johhaig-7]

I couldn't agree more. i recently sold my Van. I am in Md and the buyer is in Texas. On the day he purchased the van, according to Ebay i have to wait 21 days from the purchase date to get my money because i am a new seller. Now supposedly if once you mark the item as shipped and supply a tracking number you can get your money sooner, like 3 days afterwards. Here is the screwed up part. Most companies that ship vehicles does not supply tracking numbers. For instance the company the buyer contracted to pick up the van only gave me a ID number.  So when I went to mark the item as shipped and to input the Id number into the racking number slot, Ebay said they dont support that type of number so therefore I cannot validate that the item has been shipped.  WHAT! So I said to them ok so the buyer gets my van with the title and I still have to wait over a week to get paid. And then i said so if the buyer decides to dispute the credit card charge and he gets his money back, Im screwed. Not only does he get his money back, he gets my van with the title and hes 2000 miles away. This system is screwed up. I told them the van was sold as is and i disclosed everything that was wrong with the van, so my question is how can he dispute something that he bought as is with pictures. Even if he said he didnt get the van and they investigate, and they call me asking for the tracking number well guess what, all i have is a id number that they dont even support. EBAY is screwed up and I will never sell another item on their site.

[redbud_farm]

Ah , you shouldnt have used pay pal for that sale. It might be you will at the least paying to have it reshippef back and lose original shipping as well.

[happygirl3738]

EBay is not as great as they once were. Is there an alternative to EBay for item made?

[redbud_farm]

Thetes 1000s of venues out there, research them

[brooknorth]

I concur with the previous post - that "'selling on EBAY is pointless" because the monies that gets held back by PayPal and Ebay is what real sellers may want or need to use to replenish stock.

I was told by an employee at customer service "you should have received notification that the 3000.00 was being held for 21 days. Well I never received ANY notification of such and I do not believe I ever received a notice of "change of policy or chnge of terms" to my account. 

1)for sure they use substantial monies for their own benefit in interest bearing accounts

 I believe there exists entirely legitimate grounds for lawsuit(s)  by individuals or even a class action against them The specific cause of action would be " deceptive and unfair business practices"  for:

        1) the lack of informing the customer of the change of terms affecting the customer's account

        2) usury -  using what they explicitly state is "your money" for their own interest bearing accounts

the second cause of action would then be "breach of contract" - changing the terms of the contract you have with them as a customer

without informing you the customer.

(I will have to check the "terms of acceptance" when I/we set up our accounts and make sure 1) it is indeed a contract and 2) whether we waived all rights to dispute the terms of the alleged contract. 

[redbud_farm]

Ah, tge holds have been around for years , you agreed to them by continuing to use the service.

And you also agreed to arbitration no lawsuit years ago.

Few ever have the holds longer tgan 3 days after delivery , they know the policies and procedures

[luksi56]

I cancelled the order because Paypal is holding onto the money too long. I can't/will not wait 21 days to receive payment. Sorry to say that this puts a strain on customers because they have their money tied up with Paypal. I don't sell much but I've been an Ebay member for many years with no negative feedback. If I was going to cheat somebody I would have done it long before now. I'm irked with this Paypal situation. I'll find customers elsewhere, like Amazon.

[elementalistic]

I packed & shipped an item w/tracking. Tracking indicated it arrived on the 14th. The very same day, they guy left a positive comment, both confirming he got it & that the product was as it should be. So why, after two days, does eBay still have a hold on my money? I sold the item because I wanted the money. I get waiting for tracking, and maybe even a review, to ensure the correct product was sent. As soon as the buyer acknowledges he received and likes the product, eBay should automatically release funds. Why wait three days? eBay says it's a new policy, but your listing is from 2008.

[michaelruggier0]

I'm new but I have followed the rules and they say I'm above standard. While I've lost money on some things following Ebay's auction advice, I have made a little money that I really need. If I knew I couldn't get it for 21 days I wouldn't have bothered. There are plenty of selling sites like Craig's list where cash is not only immediate but there is no selling fee, never mind 10%! And do they have a legal right to hold my money without paying interest? I doubt it. And stop bugging me about shipping the same day the item sold. Some people work and packaging and shipping takes time.

[michaelruggier0]

I don't know about the email but I do know my money is on hold, and I need it !

[*dusty_attic*]

I have not dealt with ebay in over a year as they had put a hold for 21 days on an item I sold.  I shipped the item immediately..included tracking...it arrived within five days to the destination within five days. The buyer did not pick up the item for almost three weeks...the post office was about to return the item. Having paid the seventeen dollars for the shipping already I would have then had to refund the buyer. The buyer then took another three days to leave positive feedback...it took PayPal another week to release my money. I was **bleep** and discouraged from ever using ebay/PayPal ever again.

I have been a member of ebay since 2003...have sold and purchased a number of items with 100% positive feedback and an above average rating. Questioning this all I ever received was the standard form replies regarding the rules...even received emails addressing someone else regarding issues they were having. Tried phoning and got the same run around. finally in frustration I canceled my auctions and refunded the other buyers.

Now here I am over a year later...as a buyer...thinking I will put x amount into PayPal to purchase items and there will be no hold. I live in a small community and some things are not readily available here. When I transferred the money from my bank into PayPal it stated it could take up to three days. Meanwhile I receive a message from PayPal stating it would take 6 - 8 days depending on my bank. LIARS!!

This was on the 26th. of last month...a Sunday...my bank deposited the money into PayPal the following business day the 27th.  I contacted the bank and yes it was deposited into PayPal. As per usual contacting PayPal you get the usual **bleep**. On the 29th. I receive a message from ebay to pay for the item...perhaps PayPal should inform ebay that they are the ones that have the money.  One hand obviously doesn't know what the other hand is doing.

I would like to know what gives PayPal the right to withhold my money that I have transferred from my bank to purchase an item? I am not selling anything so their ridiculous 21 day rule does not apply. Is this something that only happens with ebay or do people go through this everywhere they use PayPal? If so I will definitely be closing my account.

Apologies for the long rant! I'm DONE!

Regards,

~E~