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PayPal 21 day money hold
Last Post 18-Jun-2009 8:26 AM by: playford1969
Replies: 149
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shuna2003
Posts: 19

PayPal 21 day money hold

31-Aug-2008 9:42 PM
So I just sold an item for $105. I have 100% positive feedback - total of 79 feedbacks. Apparently PayPal are holding the buyer's money (is this legal!!) for 21 days or until I get positive feedback or confirmation of delivery (US only - I am in Canada).

So are you seriously expecting me to ship at my own expense and hope that the Buyer leaves positive feedback? If he doesn't I lose the item I sold and shipping costs! You have successfully managed to annoy both a Buyer and a Seller simultaneously as I have to email him and ask him to leave positive feedback before receiving the item or he won't get it (I am selling my stuff as I'm leaving the country in two weeks so can't wait 21 days!).

Wasn't ebay all about instant gratification and building trust when it comes to selling and buying! What if there's a delay shipping beyond my control and the Buyer leaves negative feedback? What if the Buyer forgets to leave feedback? What if the Buyer's an idiot who decides not to leave feedback to get the item for free (as I assume he gets refunded after 21 days if he doesn't leave feedback)? What an unbelievable crazy policy.
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recped
Posts: 6,245
(1 of 149)

PayPal 21 day money hold

31-Aug-2008 9:57 PM
You are misunderstanding the hold, it's a 21 day maximum, if they leave feedback sooner the hold comes off sooner, if they never leave feedback the hold ends at 21 days and you have your money.

(is this legal!!)

If you have a PayPal account you agreed to it.



"What else could I do? I had no trade so I became a peddler" - Lazarus Greenberg 1915
- answering Trolls is voluntary, my policy is not to participate.
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neal.currie
Posts: 62
(2 of 149)

PayPal 21 day money hold

31-Aug-2008 10:09 PM
No one is forcing you to sell on Ebay. There seem to be boatloads of people complaining about the policies. If it really bothers you that much, sell elsewhere.
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shuna2003
Posts: 19
(3 of 149)

PayPal 21 day money hold

31-Aug-2008 11:03 PM
That was my point - what if they don't leave feedback? Not everyone does. Then they get their money back and the item and I'm out of pocket for the item and postage? Bad system. The old one was perfectly good.
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plasmaco
Posts: 1,314
(4 of 149)

PayPal 21 day money hold

31-Aug-2008 11:18 PM
If they don't leave feedback, you can access the money after 21 days.

If they do leave FB, you can access it faster.

If they leave a negative, I am not sure what happens...


.

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shuna2003
Posts: 19
(5 of 149)

PayPal 21 day money hold

31-Aug-2008 11:24 PM
It's a Catch 22. I don't want to ship in case the Buyer scams me by getting the item and not leaving feedback and complaining to eBay about some fictional problem with it. And the Buyer thinks I'm scamming him because I'm talking to him on email and he thinks I have his money and am refusing to send the item. I'm saying I don't have the money as PayPal has it but they won't release it unless he leaves feedback within 21 days or doesn't compain for 21 days. What if he buys it, breaks it and decides to try for his money back? (The item is perfectly good by the way.) Who is supposed to trust whom here?
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shuna2003
Posts: 19
(6 of 149)

PayPal 21 day money hold

31-Aug-2008 11:33 PM
If you have a PayPal account you agreed to it.


I didn't agree to this. When I opened my account and used eBay this didn't happen. If they're going to make such a major change they should inform people and make it clear that items sold for more than $100 will be subject to this rule unless you have feedback over 100. What is my safety-net if the Buyer makes up a fictional chargeback claim within 21 days?
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plasmaco
Posts: 1,314
(7 of 149)

PayPal 21 day money hold

31-Aug-2008 11:35 PM
OK, so it comes down to a very simple question:

Do you want to make money on eBay?

If the answer is NO, OK, no problem, good luck elsewhere.

If the answer is YES, then ship the item ASAP, and hope and pray that the buyer is satisfied, and doesn't try to do any monkey business...

If you don't ship, he might report you for seller non-performance, he will get back his money from PayPal anyways, and you will be kicked off eBay.

The choice (and this seems to be the ONLY choice) is yours.

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shuna2003
Posts: 19
(8 of 149)

PayPal 21 day money hold

31-Aug-2008 11:38 PM
"If the answer is NO, OK, no problem, good luck elsewhere.

If the answer is YES, then ship the item ASAP, and hope and pray that the buyer is satisfied, and doesn't try to do any monkey business..."

I just wanted to sell my Playstation. I should not have to "hope and pray" in order to get paid. Do other retailers wait for delivery before getting paid? OF course not. So in answer to your question I will not ship this item unless he provides positive feedback in advance of me shipping it and may well be kicked off eBay - but as they've just lost me as a customer (someone who's used it on and off for 5 years to buy or sell old stuff with no problems at all) then that's not really relevant.
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plasmaco
Posts: 1,314
(9 of 149)

PayPal 21 day money hold

31-Aug-2008 11:48 PM
As I said, "OK, no problem, good luck elsewhere"...

And eBay doesn't give a hoot about loosing you are me or anyone else for that matter as a customer... Sad, but seems to be true...


.

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winston-in-toronto
Posts: 2,588
(10 of 149)

PayPal 21 day money hold

31-Aug-2008 11:58 PM
The buyer doesn't know about the hold. They are no more likely to make a bogus chargeback now than they were before.

And they were almost certain to be successful at a bogus chargeback before -- the only difference is that before you could maybe get out of funding the chargeback if you'd already emptied the PayPal account before the chargeback and then you abandoned the PayPal account and never used PayPal again.
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winston-in-toronto
Posts: 2,588
(11 of 149)

PayPal 21 day money hold

1-Sep-2008 12:01 AM
BTW, if you accept credit card payments with your own merchant account, you have even less protection against chargebacks on internet orders than you do with PayPal, and there's a much longer hold period.
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shuna2003
Posts: 19
(12 of 149)

PayPal 21 day money hold

1-Sep-2008 12:04 AM
The buyer does know about the hold. I told him and asked if he could leave positive feedback in advance. I kind of assumed he'd know his money was being held by paypal.
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tobyshitzu
Posts: 8,184
(13 of 149)

PayPal 21 day money hold

1-Sep-2008 12:12 AM
"I don't want to ship in case the Buyer scams me by getting the item and not leaving feedback and complaining to eBay about some fictional problem with it"

the hold policy makes no difference to the risk of reversal that has always been there. The buyer has exactly the same options to dispute the payment. That some are held for 21 days protects paypal from the seller taking the money and running.
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shuna2003
Posts: 19
(14 of 149)

PayPal 21 day money hold

1-Sep-2008 12:13 AM
To add insult to injury PayPal have already charged me for the transaction despite it not going through. So they've just taken $4.07 for a transaction that hasn't gone through - as I don't have the payment and the buyer doesn't have the item.

Does anyone seriously think it's reasonable for someone selling something to send it before receiving payment?
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