Does anyone know the legalities of Ebay holdng payments for 21 days. This type of extortion seems that it would be illigal in the banking industry. Do they pay us interest earned on those funds held. amks can only hold your funds until payment cleared. How many chargebacks do you think will happen during those 21 days.

Hi - paypal is not regulated by the FDIC, they are not a bank. So until they are regulated, they can get away with alot.

kathykld123 wrote (View Post): › Hi - paypal is not regulated by the FDIC, they are not a bank. So until they are regulated, they can get away with alot.

Ditto to what Kathy stated and BTW...I've moved this OP over to the WPS (web payment services) thread.

http://www2.ebay.com/aw/core/200801.shtml#2008-01-29061132

for certain, as yet unnamed listings, ebay and paypal will

"for a small number of these transactions paid with PayPal, when eBay suspects the transaction may result in a dissatisfied customer, PayPal will delay release of the payment funds to the seller until the buyer has left a positive feedback or 21 days have passed without a dispute."

exactly why would any seller sell and ship and item knowing they may never get paid?

who and what criteria defines a suspect transaction?

so the buyer files a claim, tells Paypal they shipped the item, except paypal doesn't require proof an item was reutnred, but they paypal refunds their payment and the seller is sh!t out of luck!

it may not be the last nail in the coffin, but the lid is certainly firmly in
place.

and the lawsuits! OMG do these people eve think this stuff through?

DDT

Opinions needed

Joe is new to Ebay, he is going to sell his whatever to whoever wants it on Ebay, he is going to be forced to accept PP, pay for the auction, pay to ship it and then hope in 21 Days (but we know with PP it will be more) JOE MIGHT GET HIS MONEY !!!!

I do not think Joe or anyone else will be listing on Ebay under those conditions ??????????

So who is going to replace us on Ebay when our new Pastures get Greener and we stop listing on Ebay.

NOT JOE

Every Dictator has his Day in the Sun, OUR TIME WILL COME



Answer (NOBODY)

Recently I read a post that Paypal was raising fees in May. But can't find the post now. Can someone confirm they are raising fees and point me to the post? Thanks so much.

Sandi

simply dishing wrote (View Post): › Recently I read a post that Paypal was raising fees in May. But can't find the post now. Can someone confirm they are raising fees and point me to the post? Thanks so much. Sandi

I thought that was speculation.

And unlike ebay, PayPal does have competition from other credit card processors.

if PP fees go above other CC processorsees the, people have an alternative.

DDT

Hey all....just a thought. Why can't we do a formal complaint, as individuals to the ICC - Internet Complaint Center about the policy changes at PP.

Realizing we all have a 'choice' to use or not use Paypal, they've made that choice more restrictive for folks selling on THEIR site.

Here's the premise I'm thinking about --- does it make sense?

Paypal has modified their policies by which they will hold funds paid to sellers accounts for up to 21 days.

Paypal is not regulated by any financial institution, nor any federal financial policies.

Paypal has not made intentions known to pay interest when funds are held.

Paypal has not made clear those exact scenarios in which funds will be held.

When Paypal enforces this new policy, Paypal is in effect taking control of sellers' monies (accounts belong to individuals - not the Paypal).

When Paypal places the paid monies into a hold status, sellers can not ship goods.

When goods aren't shipped, buyers are not happy, and have the right to leave negative feedback and low DSRs.

Negative feedback and/or Low DSRs affect a sellers reputation within the market, therefore affecting their rights to fair and equitable trade conditions in the ebaY market.

Make sense - see where I'm going? The whole hold 'thing' has me very bothered - not personally - don't sell there. But - I do not see where they have the right, as 'just a venue' and not a financial institution to interfere with other peoples' money.

Thoughts?

Even though Paypal is not regulated by the FDIC they are however regulated or could be much easier at the state level so perhaps those of us in the USA should contact our State Attorney Generals office and file a consumer complaint.

In the past 2 states in the USA Louisiana and California have taken Paypal to state court for violation of banking regulations. In 2004 PP paid 9.4 Million dollars (not a lot of money but still) to settle a state run lawsuit in California.

Just a thought

I'm that guy. Been an ebay seller for years. We sell something just about everyday. We have a hold on an item we sold for $200+, which is keeping us from shipping which we have done daily for years. I called an they said there was nothing they could do. I asked them to release MY MONEY not theirs. Still got the same BS boiler plate comments. I am sooo f'ing bothered I want to crush something. I'm now being forced to take time away from my regular job just to ship this damn item the old fashion way, go down to UPS, fill something out by hand and pay in cash. WITH THESE idiots in control of MY MONEY, oh and maybe I can get it released in 21 days or if I receive feedback. I use to chase feedback, I don't anymore. I just don't care. I have 100% feedback 900+ positive and this is the BS I get. I never agreed this this BS! It has now become a waste of my time, not worth the effort anymore. What idiots! I may be a grain of sand on a beach compared to the money they make , but for doing nothing they just lost some good easy profit. I was once told.... "There is only one BOSS the "customer" and he can fire everyone at once, simply by spending his money elsewhere". I am now faced with loosing my 100% feedback because of this new policy, I should have leagal recourse for this, as well as the fact this is MY MONEY being held for 21 days which I never agreed to as wellas the impact this will have on my regular job which is very demanding of my time. PLEASE HELP, OFFER ME SOME SOLUTIONS. Thanks for letting me vent !!!

I think I'm late to this topic but I experienced my first bout of paypal holding back my money today.
I sell basically everything I have on Ebay just to make ends meet and buy food and get to work which pays less than minimum wage for an under 18 here in the UK, basically less than £3.40/$6.50 an hour; so as you can imagine ebay helps me live literally.

I had a plan. I send the money from what I just sold on ebay to my bank account and that can pay the postage for what currently is on there.

But now I can't have my money until the 3rd October!!!!!

This has seriously pissed me off to no end seeing how I assumed from their policies I would be able to get my money once I was left positive feedback.
The guidelines are completely stupid and impossible to make sense of.

I may sell less but I may have to start asking people to pay by cash/cheque/postal order.

Can somebody please tell me in a really simple way why I have to wait 21 days? (Im ill and things are hard to understand right now).

I do not mean to rain on your already wet parade but they are planning to do away with cash/cheque/postal order payments also.

Terry

tfw wrote (View Post): › I do not mean to rain on your already wet parade but they are planning to do away with cash/cheque/postal order payments also. Terry

Seriously?
This is BS.
Its bad enough the amount paypal charge to use their service.

Hi,

This is something that ebay and paypal have come up with, probably to make it harder for us sellers.

Anyway, there is a way around it, and you can release your funds when you want to without waiting for them to take forever. I waited nearly 38 days when its supposed to be just 21 days.

A paypal representative emailed me back with a very simple solution, and it worked fine for me.

Find below a link to how to release your funds

Release payment holding

Please note- this only works for the 21 day payment holding and not any dispute holds etc.

Hope this helps you guys.

Jai

1. Sold an item on eBay on October 25, 2008. Total for item and shipping was $22.95

2. Buyer submitted a PayPal e-check on October 25, 2008 and we received notification of that pending e-check.

3. On October 27, 2008 PayPal sent email to us (see below) telling us that we would have to “claim” the payment. According to Paypal, the email was sent in error and was the result of a glitch.

4. On October 29, 2008 we were sent an email from Paypal notifying us that the buyer’s e-check had cleared.

5. We called PayPal on October 29, 2008 because our account showed the transaction as “unclaimed” and our account had not increased by the $22.95 despite the email that was sent telling us that the e-check had cleared. The PayPal account representative informed us that they would have to manually add the money to our account. Okay, no problem.

6. Instead of increasing our balance by $22.95, PayPal actually DECREASED our balance by $22.95. Having been on hold with PayPal so long waiting to speak to a representative, we decided to blog about our problem while we waited. We have been on hold for 30+ minutes now, more than enough time to complete this blog.

This is the email we received from Paypal (names and email addresses have been removed for privacy reasons):

From: service@paypal.com <service>
To:
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