eBay-Paypal's New 21-Day Hold on Funds

[atticofunclefred]

Last night I received a disturbing Paypal payment, it was definately different. The email said in part...
"You've received a payment....blah blah blah... We’ve placed a temporary hold on the funds for this transaction...blah blah blah....We’ll release the hold in 21 days..."

The email further states that Paypal/eBay MAY release the funds early if:
1. The buyer leaves you positive feedback on eBay.
2. We confirm that the item was delivered.* We can confirm delivery if you ship the item with USPS, FedEx, or UPS and either use PayPal shipping labels or upload tracking information from the transaction details page. This applies to transactions within the United States.

The email also instructed me to SHIP the item right away.

No. 1: I don't need eBay or Paypal to advise me on something I already do very well. Although we are relatively new at this, we have STELLAR Rating of 100%.

No. 2: A 21 Day Hold on our money is B.S! Its OUR money. But of course this maneuver allows Ebay & Paypal to significantly increase revenue by reaping (raping) the interest on millions of dollars.

I too want eBay to be a safe and trusted shopping venue, but this punishes those of us who follow the rules. It should be implemented on only those who are failing to provide quality customer service.

I also noticed the sneakiness involved. This was not widely broadcast in advance (I don't recall hear/reading anything about it) and It was implemented on a Friday afternoon. I sure hope everyone raises 2 colors of hell about this. Lodge a Formal Complaint.

Uncle Fred

[the_right_stuff99]

Uncle fred, let me tell you all something about how bad it can get.

Uncle Fred's post is from three years ago.

[bokhoma]

Uncle Fred's post is from three years ago.

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Sorry Strangelove...but posting on an eBay discussion forum is NOT a timed event. If some feels they have something to contribute they can post on any thread on the forum as long as they abide by the rules and TIME is not included in the rules.

[sheljeanjewels]

I spent hours on the phone this evening talking with Ebay and Paypal. After determining I met all the necessary criteria for a "no hold" account with Ebay, they indicated the holds were being placed by Paypal. I have been a member since 2003, have 135 transactions, with 100% feedback. Paypal could give me no well defined criteria as to what is required for a "no hold" account. I have a high $ inventory, which requires me to turn my monies quickly and reinvest them in a timely manner to survive. Paypal has impeded my ability to do business and can give me no valid reason for the holds. I have no alternative but to take this matter to court.

[passions.direct]

Ebay/Paypal holds on funds is true! They have been holding mine. I hate it and think it is so stupid. I have 100% positive feedback. It is very hard to run a business without cash flow.

[tammeesplace]

I agree.  I think the US Attorney Generals office should look into them holding our funds.  I don't think we are banks, are we? 

[ducmarc]

Ok, I can understand what every one is saying and why some people would be upset.  I for one though, agree with the hold, but agree with the "hold" on "New Sellers" only.  It saved my wallet!  Ebay wants all older Ebay Members (like our account is over 10 yrs old), to work with new members that come aboard.

 

Well, ok, but that makes me nervous because in the past, there have been many "fly by night" Sellers sign on, unload a bunch of Counterfeit Items and within a week and $2,000 - $5,000 worth of sales, they quickly close up their Ebay Account and their PayPal account.  That has been a problem.  Many Ebay Members complained about it.  Well, Ebay answered in the only way they knew how for the time being and it worked.

 

You can look at my feedback that I have left for others, there is a Seller out of CA that sold a Handbag claiming it was in really good condition.  I was not looking for a new handbag, just something that was used but not trashed.  When I got the bag, Hands Down, it was the worse Counterfeit Bag I have ever seen.  The same instance I received the bag, I went to the Sellers page to tell them that this was not acceptable, and the first thing that came up, "Not A Registered User!"   Even when looking to give feedback, the same statement would come up. 

 

So I went into my purchase history and opened up a resolution case immediately.  Ebay was quick to work with me, and the Seller finally came in to make a statement, only because no doubt his money was being withheld from him.  Seller state's if "use a flashlight to see the ID Numbers on the Coach Bag."  That is completely bogus - if it's a Authentic Bag - it's not necessary to use a flashlight to try to see numbers that were not there - it was just a blank leather square stitched into the bag. 

 

Ebay quickly agreed in my favor after seeing pictures I uploaded for them, and not only did they refund my money - but they forced the Seller to open up their account so that I could leave the Feedback that was warranted.

 

Now if Ebay did not put into place the 21 day hold policy for new Sellers, I would have been out $135.00 and this scumbag would have gotten away with it.

 

There are always glitches in any on line store that one signs up with, but it's no less then what one would have to go through in a department store.  If Ebay is that bad, try operating your own business.  The over head Expense - Cost of Business Ebay creates for us Sellers, those fees are still cheaper than opening a store on our own. 

 

I just posted this so that people can look at it from a different point of view and realize, it's not all that bad of a policy.  Once a new Seller works their way up, that policy will eventually be lifted from them.  So Ebay does listen and does want to protect it's members.

[seattlecoffeegearparts]

We are a large refurbisher and seller of home espresso machines. We have been selling through Ebay for several years and have hundreds of successful transactions. We have always offered prompt shipping, easy 14-day returns a full 1 year warranty. Still we have always struggled with a handful of buyers who leave negative feedback or open a case before even contacting us for remedy. Ebay's 'BUYER PROTECTION' messaging overly encourages buyers to open cases for resolution without even attempting to contact the seller for resolution. Often there is simply a mis-understanding on how to adjust a grinder, steam milk or something. We are not allowed to leave negative feedback for unreasonable buyers but they can for us...this is wrong. The last straw for us was implementing the up to 21 day hold on funds. We just finally decided that pulling our listings would make the best business sense for us. The good news is the same customers seem to be finding us and ordering directly through our website and we save on Ebay transaction fees. Maybe someone from Ebay should/could reach out to a few of the good sellers they have (or used to have) to understand if Ebay works for them, support their business model, etc? VSG

[dmotisko]

They are doing the same to me !!!! It is BS for sure !!!!!! There is no protection for the seller on this site !!!  They want me to ship a item that I have not received payment for or it is in limbo ... What happens if the buyer does not receive it or it is stolen ? They turn around and take my money !!!!! This is the worst thing I have ever seen !!! I will be selling more on the forums I belong too !!! To Hell with this crap !!!

[dafoos60]

This is no scam.  Ebay implemented this policy several days ago.  I called to complain and talked to some foreigner.  She said that this affects 80% of their sellers.  I still didn't understand it after I hung up. I too have a 100% feedback rating and I agree, they are holding the money for 3 weeks and drawing the intrest off it.  This pisses me off to no end.  I hope enough people call and/or Email them to bitch. I even went as far as to send a email of complaint to the US Attorney Generals office.  I hope they gett flooded by complaints.  This stinks and I question the legality of them witholding money that doesn't belong to them.  EVERYBODY SHOULD RAISE HELL!

[dafoos60]

Don't let them Bullsheet you.  Ebay OWNS Paypal

[dafoos60]

These sumbags will sell you junk, close their account, then open a new account under a different name.

[dafoos60]

USMC 1944:  I already have Emailed the FTC and The US Attorney General.

[nuvistors]

USMC 1944:  I already have Emailed the FTC and The US Attorney General.

What do you expect them to do ?

You agreed to the Ebay/Paypal rules when you signed up to sell.

No one is forcing you to sell on Ebay.  You can always sell your items at a yard sale.    I find that selling on Ebay makes me more profit than the local auction house where I pay 25% commission and 10% buyers permium (auctioneers profit)

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[bokhoma]

Nuvistors wrote:

"Ebay makes me more profit than the local auction house where I pay 25% commission and 10% buyers permium (auctioneers profit)"

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That is very misleading.  First NO ONE pays a seller's commission and a buyer's premium on the same item.  One is paid by the seller and the other by the buyer. 

I sell at large auction houses in three different cities.  I pay a seller's commission of 20-25%....a bit more than what eBay charges but still very comparable.

Some auction  houses will add a buyer's premium to attract quality items from sellers.  They will reduce the seller's commision rate by 10% or so and charge a buyer's premium to make up the difference.  I like to keep things simple and I tend to steer clear of houses that charge buyer's premiums.   Most in my area do NOT charge a buyer's premium anyway.

Thanks...

Joe...aka...bokhoma

[moonstar900]

They will do this as long as they think they can get away with it. Just like the washington  we gave them the power and they find away to take advantage and call it fair,no matter how unfair. but it all = greed.  they forget who gave the power to them ,untill they fall