09-13-2011 01:26 PM
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.
05-03-2017 04:14 AM
I am having the same issues right now but in my case it is E-BAY not paypal withholding funds, if they grade you below standard. They have went so far as to hold current buyers funds to where I don't have access to pay for shipping. Since we pay them a fee per month and item if nothing is owed to them then how do they justify not allowing you access to your own money? How can they not allow you access when you have already sent the item and both buyer and seller are happy with the transaction? I was on the phone tonight sent from department to department to find out they had closed and now why should I have to explain to the buyer why they will not be receiving their item. I refuse to pay for shipping that has been paid and is being withheld. I have been a seller with a store for almost 15 years and am livid. I have all positive feedback and have had no problem at all with any buyers.
05-03-2017 06:45 AM
@criz4no1 wrote:I am having the same issues right now but in my case it is E-BAY not paypal withholding funds, if they grade you below standard. They have went so far as to hold current buyers funds to where I don't have access to pay for shipping. Since we pay them a fee per month and item if nothing is owed to them then how do they justify not allowing you access to your own money? How can they not allow you access when you have already sent the item and both buyer and seller are happy with the transaction? I was on the phone tonight sent from department to department to find out they had closed and now why should I have to explain to the buyer why they will not be receiving their item. I refuse to pay for shipping that has been paid and is being withheld. I have been a seller with a store for almost 15 years and am livid. I have all positive feedback and have had no problem at all with any buyers.
You've had no problems with buyers, yet you're below standard?
I sure hope you've read the spring update.
05-03-2017 11:36 AM
@criz4no1 wrote:I refuse to pay for shipping that has been paid and is being withheld. I have been a seller with a store for almost 15 years and am livid. I have all positive feedback and have had no problem at all with any buyers.
If you don't ship, you won't reach year #16.
What does your dashboard look like?
11-18-2017 12:06 PM
He is correct, PayPal is nothing more than an ACH transaction clearing house. However, ACH Clearing House and the transactions performed are regulaled and subject to federal law. Also, a person has possessery interest rights in his money. PayPal, is best addressed simply by not using the service.
When and if enough subscribers close the accounts held by PayPal a change will come.
To continue doing the same thing over and over expecting a different result is in fact the definition of insanity.. but who among us isn't guilty ??
You learn through failure, error and loss. Learn from this experience and change your course as I have done. PayPal can kiss my lilly white ?
11-18-2017 01:10 PM - edited 11-18-2017 01:12 PM
@whiratlif-0 wrote:He is correct, PayPal is nothing more than an ACH transaction clearing house. However, ACH Clearing House and the transactions performed are regulaled and subject to federal law. Also, a person has possessery interest rights in his money. PayPal, is best addressed simply by not using the service.
When and if enough subscribers close the accounts held by PayPal a change will come.
To continue doing the same thing over and over expecting a different result is in fact the definition of insanity.. but who among us isn't guilty ??
You learn through failure, error and loss. Learn from this experience and change your course as I have done. PayPal can kiss my lilly white ?
When did ACH clearing houses start giving money back guarantees to buyers?
”When and if enough subscribers close the accounts held by PayPal a change will come.“
LOL. PayPal is growing rapidly, so don’t hold your breath.
11-18-2017 01:20 PM
11-18-2017 01:21 PM
05-12-2018 01:28 AM
Name one that does? Western Union sure as hell does not.
05-12-2018 01:31 AM - edited 05-12-2018 01:33 AM
Contractual duty while a practice that is enshrined in common law, is limited to existing statutes. Contracts can be used to overide existing legal rights (jury trial ex.) except where prohibited by law. The Dodd-Frank act and the Federal Wire service act prohibits the use of contractual agreements to nullify consumer protections. Any such agreement would be considered instantly null and void.
02-08-2019 04:32 PM
They are doing the exact same thing to me. I will join a class action lawsuit if you start one.
02-08-2019 06:14 PM
03-01-2019 01:36 PM
Ebay is a fraud! They do this so they can maintain large sums of money, not to protect customers but to instead collect interest on money. This is how PayPal was formed! I just listed an item, hadn't in a couple years, and they held back all of the money for up to 21 days. I can't get a hold of anybody at ebay. When I try, the phone system hangs up. This is a sad, sad company! It once was so good. Please everybody, just simply quit using eBay. I will soon never use them again.
03-03-2019 05:34 PM
@ernholdt wrote:Ebay is a fraud! They do this so they can maintain large sums of money, not to protect customers but to instead collect interest on money. This is how PayPal was formed! I just listed an item, hadn't in a couple years, and they held back all of the money for up to 21 days. I can't get a hold of anybody at ebay. When I try, the phone system hangs up. This is a sad, sad company! It once was so good. Please everybody, just simply quit using eBay. I will soon never use them again.
Again, this is an OLD thread you are digging up, but here you go:
First off, eBay and Paypal are not affiliated anymore. Haven't been for at least a couple of years, so NO, eBay is NOT doing this to maintain large sums of money, it's PAYPAL that holds funds, not eBay. Further, it says PLAINLY in the eBay and Paypal user agreements that if you haven't sold anything before, or if you haven't sold anything in a while, they reserve the right to hold your funds for up to 21 days, or until the buyer of your item posts positive feedback, showing that they got the item. This is nothing new, and you agreed to these terms when you clicked the "sell" button. It's pretty simple, really. I know it's frustrating, but you should not sell on ANY venue without reading up on the requirements first, especially if it is somewhere you have sold in the past but haven't listed anything in a while on... it only makes sense to do so for your own self-protection. Has your buyer got the item yet? You DID ship it with a shipping method that has a tracking number, didn't you? Again, that's basic stuff, but you SHOULD know to do so. If you got a tracking number but did not post it to your listing, get it from your receipt and post it to the listing ASAP. You'll get your funds as long as you can show it delivered and there's not case opened on the item.
10-31-2019 11:57 PM
PayPal is more than a "money transfer service": they finance purchases and charge 6% interest using funds from users who get 0% interest.
I have been trying to get access to my funds for several months now and PayPal would not even explain why they are blocking me from getting what belongs to me. At the moment this is at our Small Claims Court. Defendant's answer: "We don't owe Plaintiff anything..." (Account balance is over $5,000 !)