Image Map Image Map
Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: WTH, Paypal?

  1. #1

    Angry WTH, Paypal?

    Just sold a board on 12/21 via ebay, Shipped it out using their usps print shiping label so
    the tracking info was automatically sent to them. Shipped it out the same day it sold,
    ebay and paypal told me it would be available on the 1st.

    So I check again, and now the funds wont be available untill the 19th?

    WTF is going on?

    I know paypal screws over people by holding onto funds so they can make money from the interest while
    its in their "safekeeping" but this is ridiculous!

  2. #2
    Join Date
    Aug 2013
    Location
    Sevenoaks, Kent, United Kingdom
    Posts
    174

    Default

    It is quite crazy, we run an online shop and our turnover is quite high and up until June this year they kept 10% of funds for 3 months on a rolling basis, that had been in place for 2 years, when it started they basically froze the cash which we were keeping to pay the Tax man, it very nearly almost sent up under.

  3. #3

    Default

    I've noticed a few larger retailers have recently stopped accepting PayPal. I haven't yet had PayPal hold onto any of my funds, I don't think, but I have had my share of other problems in the last year or so.

    Two banks that I deal with each promote a different no-name PayPal alternative. I plan to investigate them.

  4. #4
    Join Date
    Aug 2013
    Location
    Sevenoaks, Kent, United Kingdom
    Posts
    174

    Default

    The issue of course is the buyers want to use paypal for the excellent security they offer, if you are a retailer unless you have a niche market then you have to accept paypal.

  5. Default

    Quote Originally Posted by salamontagne View Post
    Just sold a board on 12/21 via ebay, Shipped it out using their usps print shiping label so
    the tracking info was automatically sent to them. Shipped it out the same day it sold,
    ebay and paypal told me it would be available on the 1st.

    So I check again, and now the funds wont be available untill the 19th?

    WTF is going on?

    I know paypal screws over people by holding onto funds so they can make money from the interest while
    its in their "safekeeping" but this is ridiculous!

    What is your FeedBack Number and Score?

    I suspect that you haven't sold many things on eBay. eBay will hold back money based on your FeedBack Number and Score (for items that you have sold). If/when the Buyer Posts Positive FeedBack with "5"s eBay/Paypal should release the money without further delay. But without Positive FeedBack from the Buyer, you are stuck waiting for the money. PayPal will also delay releasing the money when the Buyer is depositing the money in PayPal with a check on other funds other than a cash xfer from a bank (which is also delaying but for a shorter 3-4 working days).

  6. #6
    Join Date
    Aug 2013
    Location
    Sevenoaks, Kent, United Kingdom
    Posts
    174

    Default

    Im not sure that matters, we had 10,000 feedback 100% a top rated seller but they still held 10% of our money for over a year, just google paypal reserve hold - it has put a lot of small traders out of business as often they box shift and work on very tight margins.

  7. #7

    Default

    Seems bizarre and while I guess it is there policies in the end, not sure how they can legally do this sort of thing.

  8. #8
    Join Date
    Aug 2013
    Location
    Sevenoaks, Kent, United Kingdom
    Posts
    174

    Default

    Quote Originally Posted by MindThreat View Post
    Seems bizarre and while I guess it is there policies in the end, not sure how they can legally do this sort of thing.
    I dont think it is legal, but here is the catch, if you instigate any legal action Paypal freeze your account until the legal action is resolved..... putting you out of business !

  9. #9

    Default

    It's legal. Go read the PayPal user agreement.
    PM me if you're looking for 3" or 5" floppy disks. EMail For everything else, Take Another Step

  10. #10

    Default

    Get a Payplal debit card. No wait I think.....

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •