30 DAY HOLD ON FUNDS

[freakona4]

We sold a brand new collectors item, Star Wars Phaser signed by William Shatner, on October 20, 2022 for $1,500 to a friend who is a Star Wars seller and collector who lives in Iowa. I was told the funds would be available when the item was delivered on 10/24/2022. I called eBay today on 10/24/2022 and spoke with a gentleman who told me the funds would be on hold till November 4th, 2022. I requested that the funds be released because I need my money and I'm an 85 year old handicapped woman. The gentleman checked and came back on the phone and said it's going to be released in a few hours. The funds were not released all afternoon so I called back this evening and spoke to a female representative who said that they're going to hold on to the funds for 30 days because it's a larger transaction amount. I requested to speak with the manager who refused to help me out and also stated that the funds are going to be on hold because it's a larger transaction amount. We have already sold 10 different items and have 100% positive feedback. There is no law or statute anywhere that gives any company a right to hold on to somebody's money whether it's a large or small amount. The item was delivered and actually picked up at the post office by our friend who purchased it. I need my money to make a car payment or my vehicle is going to be repossessed! I sold this item because I needed the money to survive. My funds that have already been paid to eBay for an item that has already been delivered are going to be on hold for 30 days!? I have bills to pay. eBay stated they no longer use PayPal for transactions because of the previous problems associated with doing business with PayPal. So now eBay is just doing the same thing and for absolutely no reason. EBAY NO RIGHT TO HOLD ON TO PEOPLE'S MONEY WHO HAVE CHOSEN TO BRING THEIR BUSINESS TO EBAY AS AN AGENT FOR THE SELLER TO SELL THEIR ITEMS. THE ITEM IS SOLD, THE BUYER HAS RECEIVED THEIR PURCHASE, AND EBAY WANTS TO HOLD ON TO THE FUNDS THAT WERE PAID TO THE SELLER FOR 30 DAYS.

[wastingtime101]

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@freakona4 wrote:

 I called back this evening and spoke to a female representative who said that they're going to hold on to the funds for 30 days because it's a larger transaction amount. I requested to speak with the manager who refused to help me out and also stated that the funds are going to be on hold because it's a larger transaction amount.

There is no law or statute anywhere that gives any company a right to hold on to somebody's money whether it's a large or small amount.

The item was delivered and actually picked up at the post office by our friend who purchased it. I need my money to make a car payment or my vehicle is going to be repossessed! I sold this item because I needed the money to survive. 

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A few things here ...

1. Walls of text are really hard to read. If you reply please use line breaks.
2. Since you were selling to a friend and the need for funds was so urgent, why did you do it through eBay instead of through a private sale where you would have gotten the money instantly (without eBay fees)?
3. The reps that told you there will be a 30 day hold due to the high transaction amount gave you solid info.
4. You can read about payment holds on the policy page you agreed to when you listed the item for sale which says, in part:

Additionally, we may place a transaction hold on funds depending on your seller status, changes to your account status, or other factors we use to help ensure a safe marketplace in all categories, regardless of whether the transaction is covered by our eBay Money Back Guarantee or not:

1. High priced items or unusual selling patterns may lead to transaction holds for up to 30 days to help us ensure that buyers don't have any issues with the order

[fashunu4eeuh]

I hated to read this and feel for you. eBay is not the place to make a quick dollar because of the holds on high dollar transactions and on new sellers—you fall into both categories. The holds are policy and when you signed up to sell, you agreed to it. I wish eBay made a greater effort to educate new sellers about these issues but they assume you have done your homework prior to listing your items. At this point, go to eBay’s Facebook for Business page and send a private message to the customer service there. They have more authority to help. Good luck to you and hope this gets resolved to your satisfaction.

[dbfolks166mt]

     Not only is the item a high dollar one but you are a new seller. You need to read and understand the eBay policy on the holding of funds. 

https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816 

     As you have discovered the call support for eBay is abysmal they will tell you what you want to hear to get you off the line. EBay broke ranks with PayPal not because of issues but because they wanted the fees that PayPal was charging the seller rolled into their coffers. You also have to realize that the funds that are on hold eBay already has so for them it is free money for the time they are holding it. 

     It's similar when you charge something on your credit card. The CC company has basically loaned you the money until such time as you pay for the charge. If you pay off your CC balance every month it was a free loan and the only revenue the CC makes is what the merchant paid in transaction fees which is usually 3-5% of the total purchase price. You are considered a dead beat by the CC companies. What they want you to do is carry an unpaid balance from month to month so they can earn interest on that loan. 

     Pay your car payment with your CC and when you have the money from eBay, hopefully before you get your CC statement, pay off the CC. There is of course a risk in doing this if eBay does not transfer the funds before your CC statement comes due. 

[albertabrightalberta]

I suspect you're claiming that you sold it to "your friend" presumably to convince ebay that all is well and "your friend" won't be returning the item. 

But the hold will remain because of the high dollar amount. The buyer will have 30 days in which to open a dispute and ebay wants to know that the money will be there if needed for a refund. 

Next time if you're going to sell something to a friend, do the sale privately. Don't list items on ebay if you're not willing to abide by the policies to which you agreed. 

Also, as you've learned, calling CS is not going to get you accurate advice. It will be what you want to hear but won't be what will happen. 

[ebooksdiva]

@freakona4 

It seems the other responders have covered all bases except one : 

William Shatner was never in Star Wars He played Captain Kirk in Star Trek

Huge difference. 

[mam98031]

Ebay has had a rule for many years that pertains to New Seller and sellers that have been away from selling for 90+ days. The following is the policy that outlines why you money is likely on hold.

https://export.ebay.com/en/fees-and-payments/payments/payment-holds/

https://www.ebay.com/help/selling/getting-paid/getting-paid-items-youve-sold/payments-hold?id=4816&&...

[kensgiftshop]

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@freakona4 wrote:

EBAY NO RIGHT TO HOLD ON TO PEOPLE'S MONEY

Yes they do and you agreed to it when you listed the item.

[dbfolks166mt]

@freakona4 

It seems the other responders have covered all bases except one : 

William Shatner was never in Star Wars He played Captain Kirk in Star Trek

Good catch. At least they got it correct in the actual posting. 

[ckimodog]

@freakona4 

The funds you received from the sale are subject to 14-30 day holds.

You agree to these conditions when you sign up to be a seller.
Funds are held to ensure there are no problems with the sale and if a return is filed for what ever reason, the funds will be available to refund the buyer.

New sellers selling very expensive items are also under Ebay's radar.  They want to make sure your focus is to be a trusted seller and that you are not here to make fast cash.

Happy Selling. 

[maschi_8]

Guy said he was 85 I'm sure he just made a typo. 

[kh-gary]

Hi everyone,

Due to the age of this thread, it has been closed to further replies. Please feel free to start a new thread HERE if you wish to continue to discuss this topic.

Thank you for understanding.