So class action needed?

[arizonablues2]

Anyone else having their Seller money being held for no reason? Since Ebay does not pay interest on money being with held for payment, I do believe this is grounds for a lawsuit. 

[harvestmoon_primitives]

This is not always the case, mine are being held for zero reason other than a glitch on their part, This account has been with ebay since 2012, I am 100% positive, have had 53 sales in the last 31 days, have had managed payments since 12/2020 and got my daily deposit on 5/11, on 5/12 it said my funds were on hold because I needed to update my bank info, even though in seller hub it states My bank ending in xxxx is my payout method. I've spoke to CS he said it is a issue with many others, he was to call me this morning, I've never received the call as of yet. Meanwhile a final value fee credit for a cancellation of an "accidental purchase" hit my bank (same one that they claim needs updated) as a debit instead of the credit it should have been. 

[dhatha_9547]

Yes I'm in same boat. Extremely frustrated and thinking about the lawsuit as well.

[theteamsetguy]

Dhatha_9547,

All you have to do is dust off the yellow pages and look up a good attorney in your area. Get out your phone and call them to set up a meeting. If after the meeting your attorney will tell you if you have a case. 

Class action suits are on contingency. In other words you don’t have to pay the attorneys unless they win.

Good luck my friend. Please let us know how your meeting with your attorney went.

[stephenmorgan]

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@femmefan1946 wrote:

Both eBay/Managed Payments and Paypal have said that they keep Held funds in a non-interest bearing account.

This may actually be a legal requirement, but I'm not a lawyer. I don't even watch Law and Order.

FWIW - interest on savings accounts is low these days.  I don't think it has been this low since I was a bank teller back in the late 1960s.

https://www.td.com/ca/en/personal-banking/products/bank-accounts/account-rates/

Up to $1000 this bank (which also is a US bank,btw) pays 0.01% annually. ($10 a year)

On $1,000,000 or more it pays 0.5% annually.

How much interest does eBay "owe" you for a 30 day Hold?

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I remember in the 70's and into the 80's savings always being 6%.  I remember about 1980/81 getting 14% and then 10% on a 1 year CD.

Interest on CD's have made a big jump in the last few months.

[stephenmorgan]

Before a Class Action or Individual Lawsuit is allowed I believe you have to submit a some form of a demand to the one you wish to file the lawsuit against.  eBay makes this easy to do by providing a form to submit to them, Notice of Dispute.

I am sure that once they receive a Notice of Dispute from you that if it is at all possible they will resolve your issue favorably.  If they can not resolve your issue then you have other options.

Notice_of_Dispute.pdf

18 Legal Disputes User Agreement | eBay

[bonjourami]

"Yes I'm in same boat. Extremely frustrated and thinking about the lawsuit as well."

You are a brand new seller who has sold several pricey items. You can expect your funds to be held up to thirty days, feedback does not get your funds released any earlier/ Ebay prefers that any refunds come out of your pocket, not theirs, might help to read up on Ebays thirty day money back guarantee too.

[fab_finds4u]

Being this thread is still going, I agree feedback comments or negs have nothing to do with holds but feedback can reveal  when the last feedback you received was and if it's been more than 90 days eBay can treat you like a new seller. That was my point.  Their fb at the time was over 90 days, and that would be a reason for eBay to place a hold on their funds.

[donsdetour]

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@dhatha_9547 wrote:

Yes I'm in same boat. Extremely frustrated and thinking about the lawsuit as well.

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You made agreements with eBay buy using the site: you made agreements with the payment system as well.

Pleas read your user agreements of both.

You as a new seller will have your funds held. You also agreed to that by using eBay.

[kasimoto_usa]

not just that. I’m used this last 15 years but I hate them and their ways of business. They should fine big time. 
ok what they doing is charging selling tax on top of the sellers asking price than calculating fees with that number (total after tax) but subtracting fees from items original price. That’s a huge law sued right there plus the interest of that money you talking about but the scam is at that calculation. IRS has to know what’s going on.  

[kasimoto_usa]

What’s your answer to this ?

ebay charge buyers sales tax on top of item price. Than calculate its fees from that total but subtract total fees from original item price. The subtracting should be from total they got from buyers. That’s a huge scam right there and IRS should know. Any accountant can see this easily. 

[donsdetour]

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@kasimoto_usa wrote:

not just that. I’m used this last 15 years but I hate them and their ways of business. They should fine big time. 
ok what they doing is charging selling tax on top of the sellers asking price than calculating fees with that number (total after tax) but subtracting fees from items original price. That’s a huge law sued right there plus the interest of that money you talking about but the scam is at that calculation. IRS has to know what’s going on.  

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Incorrect, and again you agreed to this by using ebay as well.

[rade_ki]

Sign me up, I'm dealing with that right now, and couldn't pay my rent because of it. 10 days later after deposit was allegedly made, my bank says there has been no attempt for the deposit. They even gave me a transaction number and then turned around days later saying they don't do business with my bank. My money is nowhere to be found.  Disgusting 

[fab_finds4u]

Did you make a listing before your account was attached and you confirmed the micro deposits eBay deposited to make sure your payouts would be deposited with no problem?

You're blaming eBay  because you can't  pay rent but you shouldn't count chickens before they hatch.  That would be up to 6 months because that payment can be snatched back by an MBG case, a PayPal dispute or a chargeback. 

[sawyersauctions]

yes it is

[nocoolnamejane]

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@sawyersauctions wrote:

yes it is

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Based on what?