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PayPal: Unable to receive funds until 21 days after auction???

Started by Black Lantern,

52 posts in this topic

Black Lantern

Black Lantern

Posted
Posted

I won an auction on ebay (not comic related) and paid the US-Seller via PayPal. A few hours later I received the following Message from the seller:

 

Unfortunately, it may take several days for me to ship this item because Paypal decided to implement a policy which makes sellers unable to receive funds until 21 days after the auction. I rely on the funds received from Paypal to ship items and spent an hour today asking Paypal to release funds so I can mail this item to you.

I will ship this item out as soon as I receive payment from Paypal. I am doing my very best to provide you with good customer service, but Paypal is making it very difficult.

 

Never heard of that? Is that true? Or does the seller mean, he wants to wait with shipping until he has the money in his bank account? Whatever he means, I paid and I think he has to ship the item as soon as he got the confirmation from PayPal. What would you do now?

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Bosco685

Bosco685

Posted
Posted
Never heard of that? Is that true? Or does the seller mean, he wants to wait with shipping until he has the money in his bank account? Whatever he means, I paid and I think he has to ship the item as soon as he got the confirmation from PayPal. What would you do now?

 

I have never heard of this policy, and even an echeck takes 3-5 business days to clear the bank systems. Not 21 days.

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PurpleZeke

PurpleZeke

Posted
Posted

Me wonders if seller has past dispute outstanding with Ebay/Paypal and still trying to clear up the situation! Hope it works out for the best, but no have never heard anything about Paypal holding up sellers for 21 days for release of funds!!!!

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mintcollector

mintcollector

Posted
Posted
I won an auction on ebay (not comic related) and paid the US-Seller via PayPal. A few hours later I received the following Message from the seller:

 

Unfortunately, it may take several days for me to ship this item because Paypal decided to implement a policy which makes sellers unable to receive funds until 21 days after the auction. I rely on the funds received from Paypal to ship items and spent an hour today asking Paypal to release funds so I can mail this item to you.

I will ship this item out as soon as I receive payment from Paypal. I am doing my very best to provide you with good customer service, but Paypal is making it very difficult.

 

Never heard of that? Is that true? Or does the seller mean, he wants to wait with shipping until he has the money in his bank account? Whatever he means, I paid and I think he has to ship the item as soon as he got the confirmation from PayPal. What would you do now?

 

 

This is NOT your fault!

 

PayPal will sometimes place a hold on the funds of sellers who may have just started to sell high priced items or sometimes on sellers that they believe may cause issues for buyers (this does NOT mean that the seller has or is going to do anything wrong; as this move by PayPal is just for precaution). By him not sending the item, he may never get paid.

 

Though sometimes after 21 days, the hold will be removed. The problem is by that time the seller missed shipping the items in his stated handling time. This would mean an almost instant win for the buyer should a dispute be filed. Per the PayPal Seller Protection Policy; 'sellers must ship within their stated handling time to be fully covered.'

 

Here is how it works: The seller had a hold placed on these funds which will be REMOVED once he proves that shipment has occurred or if the buyer leaves positive feedback. Without him shipping anything, it actually makes the seller look worse. Ironically, if he would ship the item through the eBay and PayPal shipping center, once it was indicated as delivered, the hold would be removed.

 

I would ask for a full refund; and call PayPal to notify them. I would also encourage the seller to do the same.

 

Kind Regards,

 

'mint'

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Not*Sure*

Not*Sure*

Posted
Posted

This is an Ebay policy on some accounts BUT that being said the hold is meant to be protection for you the buyer is SUPPOSED to mail you the item and the funds will be released either after the 21 days , as soon as you leave positive feedback saying the item has been received,OR USPS shows signature delivery confirmation online proving item has been received

 

Ebay policy is that the seller has to ship the item..

 

even though it sucks that the seller cannot even retrieve the shipping cost until delivery is proved

 

After an Ebay break since our house fire I had to do a lot of stuff to get it where our money was instantly accessible.

 

Either the seller is having the fund held because of some weirdness or something with the seller or paypal account..or they have a paypal dispute pending either way they have to ship as SOON as you pay..

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Black Lantern

Black Lantern

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  • Author
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I won an auction on ebay (not comic related) and paid the US-Seller via PayPal. A few hours later I received the following Message from the seller:

 

Unfortunately, it may take several days for me to ship this item because Paypal decided to implement a policy which makes sellers unable to receive funds until 21 days after the auction. I rely on the funds received from Paypal to ship items and spent an hour today asking Paypal to release funds so I can mail this item to you.

I will ship this item out as soon as I receive payment from Paypal. I am doing my very best to provide you with good customer service, but Paypal is making it very difficult.

 

Never heard of that? Is that true? Or does the seller mean, he wants to wait with shipping until he has the money in his bank account? Whatever he means, I paid and I think he has to ship the item as soon as he got the confirmation from PayPal. What would you do now?

 

 

This is NOT your fault!

 

PayPal will sometimes place a hold on the funds of sellers who may have just started to sell high priced items or sometimes on sellers that they believe may cause issues for buyers (this does NOT mean that the seller has or is going to do anything wrong; as this move by PayPal is just for precaution). By him not sending the item, he may never get paid.

 

Though sometimes after 21 days, the hold will be removed. The problem is by that time the seller missed shipping the items in his stated handling time. This would mean an almost instant win for the buyer should a dispute be filed. Per the PayPal Seller Protection Policy; 'sellers must ship within their stated handling time to be fully covered.'

 

Here is how it works: The seller had a hold placed on these funds which will be REMOVED once he proves that shipment has occurred or if the buyer leaves positive feedback. Without him shipping anything, it actually makes the seller look worse. Ironically, if he would ship the item through the eBay and PayPal shipping center, once it was indicated as delivered, the hold would be removed.

 

I would ask for a full refund; and call PayPal to notify them. I would also encourage the seller to do the same.

 

Kind Regards,

 

'mint'

 

Thanks mint!

 

Maybe I should just send the seller your infos and convince him to ship the item that way hm

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Buzzetta

Buzzetta

Posted
Posted

My mom and my Aunt occasionally ask me to sell off their old handbags that they don't want anymore rather than toss them in the charity bag. They set the prices I just handle the sales for them. When I first started doing that for them I had a hold placed on money paid to me or items specifically in that category. It is a common practice on eBay and PayPal's part.

 

With that said, as a seller you ship the item anyway. Money is released as soon as positive feedback is left or (I forget the time period) after the item was received based on the delivery confirmation.

 

He is not lying to you - but he could just ship the item.

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Not*Sure*

Not*Sure*

Posted
Posted

Ebay policy is that the BUYER has to ship the item..

 

hm

 

So the buyer receives the book, and then has to send it back to release the hold so it then is sent back to him?

 

???

 

Buyer buys and pays

Ebay holds the payment +shipping cost

No the seller ships it

..the buyer gets it

seller then gets money

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Not*Sure*

Not*Sure*

Posted
Posted

Ebay will if you call them about limits on your account ask you SPECIFICALLY what category you will be listing in. If you say "comic books and collectibles" they sort of pigeon hole you and if you start listing handbags/shoes etc..they will place a hold on your account funds for items in the "off category" items.

 

One reason why my husband and I have more than one accounts. I am not going to have my monies for my OOAK art be held because I didn't list them in "Collectibles"

 

They are collectible but not in that sort of niche.

 

I also have an account for clothes and stuff like that.

 

The messy part is having all the paypal cards to keep track of we have several.

 

I will not "join" our accounts because I do not want to be stuck in one place

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Bosco685

Bosco685

Posted
Posted

Ebay policy is that the BUYER has to ship the item..

 

hm

 

So the buyer receives the book, and then has to send it back to release the hold so it then is sent back to him?

 

???

 

Buyer buys and pays

Ebay holds the payment +shipping cost

No the seller ships it

..the buyer gets it

seller then gets money

:gossip: I know. (:

 

:baiting:

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InvstmntComcSuply

InvstmntComcSuply

Posted
Posted

Ebay link

 

When you sell an item and the buyer pays through PayPal, the funds may be pending in your PayPal account for a period of time before the funds become available. This may be as little as 3 days after the buyer receives the item, but can be up to 21 days. This is to help encourage fast shipping and ensure customer satisfaction.

 

If you print shipping labels on eBay (USPS domestic or First Class international), up to $15.00 of your buyer's funds will be available immediately to cover shipping costs for any order less than $50.00. For any order with a total cost that exceeds $50.00, up to 30% of the funds from your buyer will be available immediately to cover shipping costs. If you print shipping labels on PayPal and select USPS postage, you'll need to pay for shipping when you print the label but the reimbursement will be deposited back to your PayPal account within 24 hours.

 

 

 

Seller is required to ship within his standard terms.

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comicwiz

comicwiz

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Posted

This is easily in the top 5 most cretinous policies in existence.

 

eBay in their infinite idiocy expects a seller to risk sending an item to a buyer, without any guarantee the money will be released, much less if the funds clear.

 

I was embroiled in this ridiculous scheme, and wrote about it in the past.

 

The major issues are this:

 

i) PayPal isn't able to do anything because it is an eBay policy, and the only way the hold lifts is if the buyer posts "positive" feedback.

 

ii) It seems to be an arbitrary hold, as I have sold many, many high valued goods on eBay, with perfect feedback, but that doesn't seem to matter any because even a short vacation from selling supporting feeBay will cause a hold.

 

iii) You are expected to send the item regardless of the fact that you might end up being out the item you listed and the money.

 

But the absolute worst part is that only the seller sees this hold in their PayPal account, which creates an environment of distrust from the get-go. Imagine being caught in a situation where a buyer has sent you money, and you having to explain you can't send anything because the funds are being held, when it shows there is no such hold when they login and review the details of the payment from their end.

 

With this ridiculous policy, eBay sets up good sellers for a serious reputation bruising. Here is a breakdown of how the hold mechanism is structured in my own words, and me describing the height of lunacy when PayPal asked my buyer to leave me positive feedback even though I still hadn't shipped the book as a solution to releasing the hold.

 

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comicwiz

comicwiz

Posted
Posted
Ebay link

 

When you sell an item and the buyer pays through PayPal, the funds may be pending in your PayPal account for a period of time before the funds become available. This may be as little as 3 days after the buyer receives the item, but can be up to 21 days. This is to help encourage fast shipping and ensure customer satisfaction.

 

If you print shipping labels on eBay (USPS domestic or First Class international), up to $15.00 of your buyer's funds will be available immediately to cover shipping costs for any order less than $50.00. For any order with a total cost that exceeds $50.00, up to 30% of the funds from your buyer will be available immediately to cover shipping costs. If you print shipping labels on PayPal and select USPS postage, you'll need to pay for shipping when you print the label but the reimbursement will be deposited back to your PayPal account within 24 hours.

 

 

 

Seller is required to ship within his standard terms.

 

I'd tell (and have told) eBay to pound sand.

 

As a seller on eBay, I didn't and wouldn't EVER agree to those terms if it happened to me again.

 

Based on my experiences, I would make some calls (check that thread I linked to above as there are some numbers to contact PayPal) and depending on which side of the sellers table you're on, I'd contact the buyer/seller immediately. No way in any iteration of consumer law, is it ever a good idea to release goods without having money in hand.

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