PayPal Holds Funds On Ebay Sales

In this video I talk about a policy that I just learned about on Ebay. It seems that now PayPal and Ebay have agreed to hold funds from being accessed by seller for up to 20 days following the sale or end of said auction.

This places the burden of paying for postage and handling right on the seller - and seems somewhat unfair. On the flip side, it's a great benefit to buyers because their orders will be shipped faster. What's your opinion? I'd like to know!

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Category:

People & Blogs

Tags:

• Ebay
• PayPal
• holding
• funds
• hold
• waiting
• period
• policy
• change
• Sales
• Vlog

[popnoodlesvideo]

DO NOT USE PAYPAL! They kept hold of £800 of my money for months. They are scum.

[Idontwantachanel1]

After 15 years with PayPal I'm cancelling my account and will no longer be doing business with them or through them anymore.

They overlook a very important fact.

They are not a bank they are a money transfer company. I paid them in full to transfer "my Money".

They have no right to "my money".

I think everyone knows they use millions of other peoples money to invest, and the longer they have YOUR MONEY to invest the more PROFIT they make.

It isn't their money to HOLD. Good riddins PayScum.

[MsPcengineer]

to many Horror stories about ebay and paypal

[RATED4EVER]

@Omniverse77 Email your buyer and tell them what you just typed here and ask them whether or not they can wait the 21 days and if they don't want to wait 21 days for you to ship out their item, tell them to contact paypal & see if paypal will release the funds considering the buyer says they are ok with the funds being released to you before the 21 days. Otherwise the buyer is going to have to wait 21 days.

[1wicked2008]

i sold about three items in dec 2011 2 months after your video and get the cash right away i even have a paypal card..sold my first items or this year 2012 and there holding it lame i have 0 neg feedback shipped with in 2 days and add tracking everytime

[Omniverse77]

i just sold my ps3. paypal's withholding payment funds. i need the buyers payment to pay for shipping because i don't have the money on me now to do it.

what do i do?

anyone?

[BrassBearingz]

I sold a collectible coin on eBay in the early part of December and I just got my money yesterday. I think they're taking this policy of theirs too far, and I hope they get sued.

[mtgmantx]

PayPal doing this tells me that possibly PayPal is in some sort of financial straights that have not been disclosed. They will hold your money and make interest on it. I do no recommend either PayPal or eBay for that matter. It would also seem the are violating the EFT act as well. If one has not been placed already, I am certain a class action law suite is coming. They settled one for about 30 million not too long ago. Here comes another one.

[pwnedmods]

Yea I think they are putting the money in a account somewhere to draw interest. I hope they fail, the whole 20-21 days thing is way overboard. Even if you do delivery confirmation, the money is still held for 3 days after they receive it.

[RATED4EVER]

@AnfoMerc Yes you can. All you have to type in your auction is "NO PAYPAL!! Anything else is acceptable" Its just the way you have to word it. The only way ebay will shut down your auction is if somebody reports that you take anything but paypal.