@chdosp.esmawkpy wrote:
I own a small window tinting business in Arkansas and have used PayPal to process my credit/debit card transactions. My customers do not pay for my services until they pick up their vehicle and approve of the work provided. We do no e-commerce nor are we a risk in any way. PayPal has chosen to hold my company's funds for 30 days. I have contacted them on numerous occasions with no satisfaction. My company is now in the process of switching over to a legitimate card processor to prevent these types of fraudulent business practices from having continuing adverse affects on our business.
Your new processor will hold your funds too. Good luck:
"A hold on funds refers to a processor withholding some of a merchant’s processing volume and storing it in a separate fund as a protective measure in the event of chargebacks, refunds, or fraud. Holds can be applied to individual transactions (usually high-value or very suspicious ones) or to a total percentage of the merchant’s business.
The latter is usually referred to as a “reserve fund” or simply a reserve. A “rolling reserve” is when a processor chooses to continue holding a set percentage of a merchant’s daily processing volume as a guarantee. After a pre-determined number of days, those funds are released on an ongoing basis. This happens over and over, hence the term “rolling reserve.” A minimum reserve requires a specific sum to be held for a period of time. With a minimum reserve, funds won’t be released until that reserve fund is filled."
