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.

[ducmarc]

For taadaa58, no PayPal does not at this time.  It seems to be only with Ebay.  The only thing in common is the percentage of fees.

[ducmarc]

2minutes2midnight, I agree!  The Feds, Government, whatever anyone wants to call them, seem to know how to mess things up in a minute (to put it nicely).  One of the reasons the economy is so bad is due to the Government putting money into the pockets of the banks for bailout.  That was the wrong thing to do with stimulus because now banks are holding onto the money and not letting it circulate into the Economy like the Government wanted it to.  No one has credit anymore. Now the banks are controlling the economy (just like Ebay and PayPal - on their site) and is controlling what the business people can and cannot do - and controlling what they can and cannot say (which is against our 1st Amendment Rights).  If they keep it up, and not let the money flow as it should, everything will collapse even more and more businesses will begin to shut down.  The Government Stimulus should have gone to the Tax Payers in order to keep the money circulating.  But one would think that Ebay and PayPal would recognize that the Seller's are generating Ebay's income and be alittle more fair (ok a lot more fair) with the Seller's.  Ebay should realize if they hold up income to the Seller's for a unfair amount of time, they are not allowing the Sellers any turn around time to invest money earned into more inventory to resell.  Correct me if I am wrong, but I don't think it takes a Rocket Scientist to understand why Businesses will start to fail on Ebay if they continue to hold back the seller's ability for progress and growth. 

[artie-chicago]

The buyer must be protected or they will not shop. eBay/PalPal  hold on sellers funds, depends on the degree to which a seller has his account verified and the rule(s) set for all sellers. This is common sense not a grand conspiracy to effect the economy in a bad way or commit business suicide. Perhaps you and anyone else with the same thought should read or re-read Hondamedic's posts!

[ducmarc]

Since when did thoughts written down, freedom of speech, or just a matter of opinion become a conspiracy? Everyone has right to put their 2 cents in. I thought this is a forum to view other people's thoughts as they are and not to judge one another?  Is this an adult forum?  Most forums I've been on are just people sharing different views.  There's no reason to put anyone down. I am sure you have excellent opinions as well. Maybe you should lighten up just a little!  

[komokwa]

The ebay buyer shopped before Buyer Protection, and that worked just fine...for the most part.

Don't worry Duc , you can continue to post here to your hearts content !!

Once ebay figures out a way to institute Posters Protection, anyone trying to limit your say on things will be harshly dealt with.

[artie-chicago]

ducmarc:

I was responding to your opinion with what I believe to be the truth. I in no way was or intended for you to feel you were being put down. On another discussion thread I did say that  I disagree with your rumor mongoring. Again a difference of opinion.

komokwa: Are differences of opinion, the facts or truths, not allowed on this discussion board? I read and re-read the different threads to post an informed opinion. Not to many people call Artie-Chicago, "Mr. Fun". I like facts and truths

and will search them out and post them. Unfortunately speculation because the people that could answer the questions about the way eBay/PayPal are operated are silent,

[ducmarc]

"ducmarc:

I was responding to your opinion with what I believe to be the truth. I in no way was or intended for you to feel you were being put down. On another discussion thread I did say that  I disagree with your rumor mongoring. Again a difference of opinion."

Rumor mongoring?  How is it rumor mongoring if I am giving my opinion on someone else's post?  That statement is ill gotten and not warranted.  I could see it if I started the post and you felt that way, but I did not!  But what people need to learn to stick to is what the author has to say and not the people in it.  That's the problem with most posts, they get off track and the author looses the sole purpose of the intent of their post and in inviting people to share their opinions with them and not to create arguments.  Not everyone is going to agree, that's what makes this World and the people in it so unique.  If we were all the same, what a boring World this would be.

Perhaps stick to offering your opinions only to that of the author and not to anyone else and perhaps you may not be so angry or belittle sounding in your posts or comments when it's not warranted.

People are here to have a good time, this is not the Gospel nor rules that people live by. Sometimes people get frustrated and have every right to voice how they feel by posting it.  If one doesn't agree nor like it, then move on to a different post.  If the author wants to do what they want to do, let them have at it, we have no right to stand in anyone's way and we have no right to say who is right or who is wrong, only to offer our 2 cents.

[komokwa]

Hi Duc :

If you post on this or any other board , your post is open to interpretation and comment by anyone , in any order, in any fashion.

There are few if any threads that run 50 long , that don't have , a disagreement, a fight, apologies, a weather report, six ways to bake muffins, and a few comments regarding the original post.

Folks don't have to learn to post the way you want them to , any more than Arties facts and truths are gospel, or written in stone.

Folks will believe what they want to believe, and post in a manner resembling that old time kids game....broken telephone !

And that's the way that works. !

Oh, BTW, you say stick to what the OP has said, but in your above post , I see no reference to the OP what so ever.

You can't talk the talk,

& not walk the walk !!

Hey...just my 2 cents !;-)

[kali-the-pup]

I look at threads like bagels... most go round and round, some get cut in the middle and go off in different directions and if two people start eating it opposite ends... eventually they bump heads.

 

[taadaa58]

For taadaa58, no PayPal does not at this time.  It seems to be only with Ebay.  The only thing in common is the percentage of fees.

Thank you ducmarc!

[artie-chicago]

komokwa: Got to admit you got me there. Your right!

[ipickubuy]

komokwa: Got to admit you got me there. Your right!

Right about what, artie?  Komo asked you a question, he didn't make a statement of fact.  But you know that. Or you should.   

[artie-chicago]

komokwa states : "Artie , you can post your facts & truths , all ya want, but it doesn;t make them my facts or truths."

He is right. That is what I was replying to. I knew there was something I wanted to do. Push the INGORE on you IPUB!

[ipickubuy]

Good, I'm so glad to hear you agree with Komo on that point.  So do I. 

Be my guest, artie, ignore me. 

[komokwa]

Right about what, artie?  Komo asked you a question, he didn't make a statement of fact.  But you know that. Or you should.   

Easy there Pam...

Artie & I are just getting to know one another...feeling each other out.

We may have started off on the wrong foot , but it's getting better.

I did make a statement.....and the question I asked was rhetorical, and he picked up on that.

Can you see that now ?

He was agreeing with a like minded view.

Nothing sinister.

Artie,if you're saying that folks post here to get the facts and the truth of the matter, in answers to their questions and concerns , then..yes of course they do , but there's a lot more going on here than just that.

Some good fun, some bad nastiness....we've got it all on the PT Board.

Go join in on the word association game .

It's a great de- stresser !

( and pardon me while I go kick someones arse ! )