Ebay/Paypal holding funds

[Miztaziggy]

Has anyone here had funds held by Paypal when making a sale?

I never have had a problem before, I have sold quite a bit on ebay and got over 100 feedback, 100% positive. I just sold 5 items and of the 5, 2 of them have had the funds paid to me held by Paypal for 21 days. It says that they will release MY funds to ME after 21 days, or, 3 days after expected delivery date if I put in tracking info.

Although ill send the packages today, and they will probably be delivered on Monday, they count it as a 3-5 day delivery service, then add +3 days meaning MY funds won't be available until a week on Sunday.

I think it's fcuking scandalous. How can they hold my funds like that, like some fcuking carrot for me to post it quickly, then hold it over me in case the buyer decides to try and claim the money back.

Apparently if the buyer decides to, they can claim the money back and Paypal will refund them from my held funds. They won't make them post it back to me, and I have no come back with them. I am left wide open to scammers and could lose out here.

So fcuked off with it. I wrote an e-mail to Paypal about it, but if they come back with some bullshit copied and pasted reply, written by some cnut in Bangalor, then ill stop using them entirely and shut down my Paypal account.

The question is then Ebay seem to force sellers to have a Paypal account - is that even legal under monopoly law since ebay and Paypay are the same company?

And also what else is available for e-bay sellers other than Paypal?

[Duffy1964]

They are the same company, you pay fees to ebay for your sale AND fees to paypal for using them
They are getting worse I'm afraid

The only way around it is cash on collection only items or use a different media like gumtree.

I still use ebay as I'm lazy and cant be arsed to shop about, but the funds/delivery side of it can be a pain at times dude

[parkergb6]

Its a new thing they are doing as part of the buyer protection programme essentially when a buyer pays using a paypal transaction using the bank account instaed of card the buyer does not have the funds taken until the item is delivered or 14 days then the money goes to the seller to ensure the item arrives. Its a sh1t for a seller but a bonus for a buyer if they are honest. If they are a lying sh1t the seller again loses out.

[Miztaziggy]

Its a new thing they are doing as part of the buyer protection programme essentially when a buyer pays using a paypal transaction using the bank account instaed of card the buyer does not have the funds taken until the item is delivered or 14 days then the money goes to the seller to ensure the item arrives. Its a sh1t for a seller but a bonus for a buyer if they are honest. If they are a lying sh1t the seller again loses out.

Well that isn't entirely true.

For instance - I bought some stuff on ebay on Saturday and paid with Paypal. Both paid with bank transfer option.
One item was delivered on Wednesday, one today (Thursday), but checking my bank balance, both payments show as going out on 23rd October yesterday. The funds were already out by Monday showing as not available balance, but not showing up as a transaction yet.

So basically, Paypal take my money the minute I pay, hold it for 21 days, then pass it to the seller.

Can you imagine how much they have held in their account at any one time? Can you imagine how much interest all that money must generate?

[callam_nffc]

and in doing so "holding" the money for even a small amount of time probably makes them a sh1t load of interest globally

[storminateacup]

I seem to remember that the last time I bought something from e-bay (I use Paypal) if I pay direct from the bank I have the option of withholding the payment for 14 days by ticking a box. Or it may have been un-ticking the box. I know I was surprised that the money didn't leave my account straight away. I had to go back to my Paypal account to find out why and realised what had happened.

[shaggy-doo]

i do remember this happening to my son last year when he first opened his ebay and paypal account. they held the money till the buyer left a feed back for the first 5 or 6 items he sold. i did wonder at the time if they were going to do this to every one. if so i think allot of sellers will be looking ells where to sell there goods as you know how hard it is to get the money from some that buy on ebay

[StormingHonda]

I think they even done this to me last year buying something, I cant remember why, but it turned out to be something to do with the seller.

[lloydie]

when you sell high risk items they hold the money till 21 days or till positive feedback has been left they have done it to me a few times now

[VTRDark]

Oh I know where your coming from here Ziggy and I total agree it's wrong. As parkergb6 said there is some new thing buyer protection thing where they are starting to behave like escrow by holding the money until the customer is satisfied with there item.

So fcuked off with it. I wrote an e-mail to Paypal about it, but if they come back with some bullshit copied and pasted reply, written by some cnut in Bangalor, then ill stop using them entirely and shut down my Paypal account.

Well done.

The question is then Ebay seem to force sellers to have a Paypal account - is that even legal under monopoly law since ebay and Paypay are the same company?

It's not that they force everyone to use Paypal but the design of everything is orientated (made easy) to use Paypal. People can still deal with sending cheques, bankers draft, cash etc etc. And it's wrong!! the only reason they push Paypal is because they own it and are making billions. Like you say imagine the Interest alone juts by holding funds. I had a similer issue a few years back with transferring a very large sum out of my Paypal to my bank and Paypal to near enough a month to transfer it all.

I hate the way that big companies monopolise things and kind of force people/society into to using them. Facebook, google, ebay, paypal the lot of them. I am seriously pissed off with googles new privacy policy. I would love to dump google from my life but unfortunately they have the monopoly and for everything to interact fluidly (android for example) one kind of needs it.

The problem is that for these companies to abandon things like advertising or holding money, then they would have to start charging for their services. Otherwise how else would they support themselves and keep it going.

(:-})