PayPal now holds seller funds for 21 days!

[Crazy Chicken Fever]

Big business is paying games again, PayPal has decided to put a 21 day hold on all seller funds even if your account is in perfect standing with zero disputes, and zero negative feedback. I have had a PayPal account for 8 years and never had one single bad transaction. Then I get an email today, that is effective today saying that PayPal is holding my money due to new policy. I'm told this is a random thing and not discriminatory. When I called I was told the hold is due to the fact that I have had less then 25 transactions with feedback in the last 60 days, so basically I'm not doing enough business on PayPal. Does that give PayPal the right put a hold on my profits? Must be nice to hold someone else's money and collect 21 days worth of interest on it while the seller fronts the shipping costs. I need everyone's help on this...... Facebook gives us a voice against big business.... dislike PayPal, or voice your opinion and share it with your friends. They should not be grouping the good account holders with the bad. Your help is much appreciated. Paypal, the consumer now has other options for online trading, you should really reconsider this new policy.

I posted this exact message on PayPals facebook fan page. Go there and voice your opinion on this please.

 

[Crazy Chicken Fever]

How funny to know that PayPal has already deleted my comment from their wall

 

[S&N Livestock]

On my account the hold is for 21 days but all have been available the day after item/items have been deliverd... I hated it at first but used to it, buyer protection that way they know they have the funds if needed to refund... Kinda understand

 

[onthespot]

hey SnN, I bought egg trays and a candler from you! Great service, would do buisiness again!!! A++++ ebayer, lol

 

[Desirai]

They did that to me too!!!! They sent me an email telling me they were going to hold my funds for 21 days.
However they didn't! They let me have it after 7 days.

 

[debilorrah]

Odd, I have not received that email.

 

[artsyrobin]

neither have i........

gonna check on it though

edited to add:

here is the actual clause:

10.4 Actions by PayPal - Holds.

Risk-Based Holds. PayPal, in its sole discretion, may place a hold on any or all of the payments you receive when PayPal believes there may be a high level of risk associated with you, your Account, or any or all of your transactions. PayPal’s determination may be based on a number of different factors and PayPal may rely on information it receives from its third party partners such as eBay. If PayPal places a hold on a payment, the funds will appear in your “Pending Balance” and the payment status will show as “Completed - Funds not yet available”. If PayPal places a hold on any or all of the payments you receive PayPal will provide you with notice of our actions. PayPal will release the hold on any payment after 21 Days from the date the payment was received into your Account unless you receive a Dispute, Claim, Chargeback, or Reversal or PayPal has taken another action permitted under this Section 10. PayPal, in its sole discretion, may release the hold earlier under certain circumstances, for example PayPal may release the hold earlier if you have uploaded tracking information. If you receive a Dispute, Claim, Chargeback, or Reversal, PayPal may continue holding the payment in your Account until the matter is resolved pursuant to this Agreement.​

 

[Stacykins]

I know of this hold you speak of. I have funds on hold this very moment.

I do think it may be to prevent unscrupulous sellers from selling a ton of fake items or whatnot, who then move the cash out of their account quickly, close everything, and disappear before paypal tries to recoup those funds.

 

[quercus21]

I haven't received or had problems with paypal. My paypal sales are split between the paypal virtual terminal and etsy.

Kaj

 

[Stephanie739]

Quote:
I paid via Paypal for what was supposed to be MS Office on ebay, but was shipped a blank disk. The selller closed shop as soon as the disk was shipped. They had some positive feedback

I never did report it, but I suppose things like this happen often.