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

[sterlingcomics]

It is part of doing business on ebay.

 

I'll pass and take No for the final answer.

[InvstmntComcSuply]

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.

 

 

The money HAS been released (as much as any other payment you receive from a buyer). They have simply been released to eBay. eBay HAS the money. They are holding it to make sure sellers do not run off with $XXXX and never ship the item.

 

The seller is not "risk(ing) sending an item to a buyer, without any guarantee the money will be released" as the money is just as much "there" as any other buyer payment.

 

The funds clearing risk is the same whether the funds go to you the seller or to eBay as eBay will deduct chargebacks from your account at any time.

 

I am omitting the minimal risk of ebay/paypal bankruptcy.

 

I have experienced a PayPal chargeback occurring 3 months after the payment was sent (and stamped "cleared"), so I'm not as readily prepared to believe PayPal will absorb the loss if anything happens during the funds clearing process.

 

You are reinforcing my point with your example. Of course they are not going to absorb the loss. Just like they did not with your chargeback 3 months later. But the money is still "there" just like it was in your account for that 3 months.

 

You can argue that you don't like eBay holding your money, but that is a different argument.

 

 

I realize funds clearing issues can happen whether or not you have a hold. My point however is that shipping an item while a payment is on hold is much riskier than normal circumstances, because without the hold, I can clear the money from PayPal before I ship with no restriction, and in doing so, would leave PayPal in the lurch to withdraw from account-diddly-squat if their funds clearing incompetence should reveal itself at a later date.

 

21 day payment limbo, not so much.

That is a fine argument for someone who is unconcerned about debt collections and screwing up their credit. Paypal WILL pursue you for it as a legal debt.

 

It's more a commentary on the lopsided advantage and free-reign enjoyed by con-men and career scammers with nothing to lose.

 

Perhaps a commentary that should lump the whole financial system into the same category.

 

The ilk who use aliases, fake names and multiple PayPal accounts to move money back and forth, and who make it near impossible to trace, and even when by some miracle you find them, the well has been tapped dry.

 

I don't particularly take kind to being bent over and assaulted because the system doesn't care about justice, and throws a welcome mat out for riff-raff to screw around with people's lives.

 

At the end of the day, I still have a right to refuse any transaction I deem a high risk and that includes any terms of an agreement or rules arbitrarily thrown into the mix that expose me to undue risk.

 

Whenever I've fallen victim to this particular extortionist eBay policy, I haven't had any trouble communicating my concerns, and have talked buyers into seeing my side of the situation every time.

 

My main issue with what you shared earlier on in the discussion is that sellers must abide to eBay's ridiculous 21 day hold policy, and if they don't they're some kind of rogue sellers.

 

I don't recall making such a statement.

However, unless he listed a handling time exceeding 21 days, the seller is not performing as he has agreed to when selling on eBay.

 

It doesn't really matter how you or I or anyone else feel about the seller. It matters solely how the buyer feels (as evidenced in their DSRs and feedback) AND the metrics the seller generates when waiting 21 days to ship the item after funds have already cleared to ebay.

 

I'm proof that this isn't the case, and that eBay needs to be told to pound sound, and in cases like mine, twice.

 

Sample size error

 

More importantly, I would posit that you are misinterpreting the results. I would say that in both cases you likely could have had the funds in your account in the same or faster time and with far less risk to your overall business had you shipped within your stated handling time. Additionally, there is the strong possibility that the second hold was a result of the long delay in shipping from the first hold.

 

 

[Dr. Balls]

Wow, they really make it hard to sell something. I'd personally have a problem shipping something with no funds in my account.

 

They do. However, it's like an escrow and it's really not a big deal once you get past the principal of it. It ensures/insists that new sellers ship their products in a timely fashion.

 

Of course, I was all fire and brimstone, too when it happened to me - so I totally see both sides.

[MedicAR]

PayPal has been weird lately. For about a week or so, I couldn't pay anyone no matter what method I used. I was told my credit cards wouldn't accept the charge despite working anywhere else I tried. I was told my bank account didn't have funds despite flipping screens and being able to see my available balance. I happened over Labor Day weekend, so I took it to just be a holiday glitch. It continued for a week and resolved with no explanation whatsoever.

[comicwiz]

Additionally, there is the strong possibility that the second hold was a result of the long delay in shipping from the first hold.

 

The two situations have nothing to do with one another, and I usually ship items next day. In the last incident, I refunded the buyer straight after receiving notification of the hold, gave the buyer the option of moving the sale to my online store, and the buyer got the book within 3 days.

[InvstmntComcSuply]

Additionally, there is the strong possibility that the second hold was a result of the long delay in shipping from the first hold.

 

The two situation have nothing to do with one another, and I usually ship items next day. In the last incident, I refunded the buyer straight after receiving notification of the hold, gave the buyer the option of moving the sale to my online store, and the buyer got the book within 3 days.

 

That doesn't make the occurrence of the second hold mutually exclusive of the first.

 

I also meant to include Confirmation bias with sample size above.

 

[Aces]

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'

It's a newer rule they put in place when they took over Paypal.

Any new seller account, even selling cheaper junk, gets their funds put on hold until eBay/Paypal get conformation the item has been received.

This can be sped up greatly if you print your mailing label through eBay and they have the tracking information.

Once they see it has been received the funds are released.

Or if you don't use eBay's labels then they wait for the buyer to leave positive feedback or the full 21 days to see if the buyer files any kind of complaint.

You better email the guy that unless he mails your item with tracking information he's never going to get his funds released.

[VintageComics]

Additionally, there is the strong possibility that the second hold was a result of the long delay in shipping from the first hold.

 

 

The holds placed by Paypal are based on ANONYMOUS eBay DSR ratings given by buyers when leaving feedback. Those ratings are completely subjective to how the buyer feels and if a buyer wanted to, they could mess with your DSR rating, lower your score and Paypal holds your money for 3 weeks.

 

It's similar to me sending an anonymous message to someone's employer because I didn't like something about the employee (could just be the tone of their voice or the tie they wore that day - doesn't matter) and because of it the employer withholds the employee's pay check for 3 weeks.

 

There is no name attached to the rating, no appealing it and no way to remedy it except to follow eBay's extortion-like demands to provide immediate shipping, free shipping, kissing butt with all buyers even if they are individual_without_enough_empathys and give a seller something better than described...and even then you run the risk of some idjit sabotaging you.

 

Meaning you can perform perfectly and still have a low DSR rating by some unreasonable dolt.

 

It's a ridiculous system that is an attempt from eBay to kiss buyer's butts in order to help them compete with other online stores like Amazon.

 

And, it's akin to extortion.

 

[InvstmntComcSuply]

Additionally, there is the strong possibility that the second hold was a result of the long delay in shipping from the first hold.

 

 

The holds placed by Paypal are based on ANONYMOUS eBay DSR ratings given by buyers when leaving feedback. Those ratings are completely subjective to how the buyer feels and if a buyer wanted to, they could mess with your DSR rating, lower your score and Paypal holds your money for 3 weeks.

 

It's similar to me sending an anonymous message to someone's employer because I didn't like something about the employee (could just be the tone of their voice or the tie they wore that day - doesn't matter) and because of it the employer withholds the employee's pay check for 3 weeks.

 

There is no name attached to the rating, no appealing it and no way to remedy it except to follow eBay's extortion-like demands to provide immediate shipping, free shipping, kissing butt with all buyers even if they are individual_without_enough_empathys and give a seller something better than described...and even then you run the risk of some idjit sabotaging you.

 

Meaning you can perform perfectly and still have a low DSR rating by some unreasonable dolt.

 

It's a ridiculous system that is an attempt from eBay to kiss buyer's butts in order to help them compete with other online stores like Amazon.

 

And, it's akin to extortion.

Roy, I understand that was why you were told your payment was placed on hold, and it is probably one of the largest contributing factors. However, it is not the only thing that triggers payment holds. There are many different variables that contribute to a payment hold being triggered.

[Black Lantern]

Got a new message from the seller:

 

Fortunately, Paypal freed up some of the money so I should be able to ship the item in a few days. (And this was after I spent an hour on the phone with them.) I'll just have to get a tracking number for the package. I'm never using Paypal again.

 

Let's see how it works out.

[DiceX]

Yes. eBay has screwed me with this money holding technique when I sell there.

I hate eBay with every ounce of stool in my body.

 

 

I haven't sold there since 2005 maybe? I'm sure if I made the mistake to re-start they'll do this to me...NO THANKS.

 

Yes sir. Same here. I hadn't sold anything there since around 2005-2006. I sold something back around July and they stuck it in me deep.

 

And what gets me is even AFTER the item has been shown to be delivered.

Even AFTER the buyer leaves POSITIVE FEEDBACK saying what a stud you are.

Even AFTER ALL THIS...eBay will still hold the money for another 7-10 days just to make sure there's no buyer's remorse and he changes his mind and wants his money back.

Are you kidding me?

 

Have I told you how much I hate eBay now?

 

 

[comicwiz]

Yes. eBay has screwed me with this money holding technique when I sell there.

I hate eBay with every ounce of stool in my body.

 

 

I haven't sold there since 2005 maybe? I'm sure if I made the mistake to re-start they'll do this to me...NO THANKS.

 

Yes sir. Same here. I hadn't sold anything there since around 2005-2006. I sold something back around July and they stuck it in me deep.

 

And what gets me is even AFTER the item has been shown to be delivered.

Even AFTER the buyer leaves POSITIVE FEEDBACK saying what a stud you are.

Even AFTER ALL THIS...eBay will still hold the money for another 7-10 days just to make sure there's no buyer's remorse and he changes his mind and wants his money back.

Are you kidding me?

 

Have I told you how much I hate eBay now?

 

 

eBay probably believes you should consider yourself fortunate for not holding your money for a year, or at least long enough for the buyer to enter into bugaboo's CGC contest and be certain the books he bought from your were worthy of nut-punching himself in several states.