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Paypal holding funds now?
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Started by jhutton2,

32 posts in this topic

jhutton2

jhutton2

Posted
Posted

I just got off the phone with PayPal.  Seems they are now holding all my funds until proof of delivery is provided from buyers?

Is this a new thing?  Its beyond infuriating and because I am shipping from Canada to US usually this will probably take weeks to get any funds from sales versus before where it was basically immediate.

Is anyone else having issues with PayPal in this regards?   They will be losing all my business and I have been a customer for close to 20 years.

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jhutton2

jhutton2

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On 11/24/2021 at 1:32 PM, Ryan. said:

I bailed on PayPal months ago. :wavingwhiteflag:

Were they doing this to you as well?   I really don’t understand their logic to treat a 20 year customer with solid volume and no past issues this way

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Black_Adam

Black_Adam

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Posted
On 11/24/2021 at 10:48 AM, jhutton2 said:

Were they doing this to you as well?   I really don’t understand their logic to treat a 20 year customer with solid volume and no past issues this way

I bought a comic from @Martin Sinescu that is currently being held by Canada Customs, and I know Paypal is also holding his funds pending proof of delivery. 

If he hadn't let me know I am sure I would never have logged back into Paypal to actually confirm the item had been delivered.

Knowing how comic transactions are normally done - payment received and then item ships - this is going to put a big damper on Paypal as an accepted form of payment here and elsewhere. And that is no good for me as no one wants my Canadian money.  :tonofbricks:

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Galen130

Galen130

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Posted (edited)

I personally haven’t come across this particular issue as a seller, but I do know there was a delay in transferring funds to my PayPal so that I could pay a fellow boardie for a slab they were selling.  It took 5 days for the funds to clear, even though my bank showed the money debited from my account for four days.  That was a first for me, and frustrating.  Perhaps PayPal is doing some overhauling for some reason…buyer AND seller.  I too am thinking about another method for payment.  I’m not in Canada though, so who knows if I’ll see the OP’s issue as a seller myself. (shrug)

Edited by Galen130
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MattTheDuck

MattTheDuck

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Posted
On 11/24/2021 at 11:03 AM, jhutton2 said:

I bet this is a Canada specific policy 🤦.   PayPal started to get their act together a few years ago for international transactions, seem to be going backwards now.

more steps for buyers and sellers 😬 as well as long wait periods for accessing funds

Was this a sale that crossed the US/Canada border?  Because, while not the same thing, Canadian sellers have had to wait quite a while for my payments to clear their banks.  This has been "blamed" on US Federal Reserve/Canada Federal Reserve communication/agreement on the value of the respective currencies at the time of clearance.  I wonder if PayPal has faced some kind of similar issue?

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jhutton2

jhutton2

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On 11/24/2021 at 2:34 PM, MattTheDuck said:

Was this a sale that crossed the US/Canada border?  Because, while not the same thing, Canadian sellers have had to wait quite a while for my payments to clear their banks.  This has been "blamed" on US Federal Reserve/Canada Federal Reserve communication/agreement on the value of the respective currencies at the time of clearance.  I wonder if PayPal has faced some kind of similar issue?

It’s cross border sale.  Some have cleared, others are being held

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Oreos

Oreos

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Posted

Same issue (but with trading cards, not comics)- 6 years of no issues, now all of a sudden my sales as of yesterday are being held until proof of delivery. 

Called PayPal today and said it's in preparation of the new 2022 tax laws? That was all I got. Useless. 

Like many others, I think it's my time to bail on PayPal. Surprised I even lasted this long. 

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Beige

Beige

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Happened to me once in Australia - I was the buyer, and paypal would not release the $$ to the seller until I had confirmed delivery.

Our tax laws haven't changed - I guessing paypal hold and collect interest on it.

Since ebay managed payments - 99% of stuff goes through that.

Be interesting to see what happens on board transactions from now on.

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crassus

crassus

Posted
Posted
On 11/24/2021 at 12:50 PM, jhutton2 said:

I just got off the phone with PayPal.  Seems they are now holding all my funds until proof of delivery is provided from buyers?

Is this a new thing?  Its beyond infuriating and because I am shipping from Canada to US usually this will probably take weeks to get any funds from sales versus before where it was basically immediate.

Is anyone else having issues with PayPal in this regards?   They will be losing all my business and I have been a customer for close to 20 years.

Hi, did you ship by printing a label thru PayPal...or did you just receive a G&S payment without shipping through PayPal? I never ship via PayPal...I take PayPal G&S payment, but otherwise PayPal would have no way to know anything has been shipped, or is to be shipped, (I'm guessing) unless a shipping label was printed in PayPal...

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KEY ISSUES Comics

KEY ISSUES Comics

Posted
Posted
On 11/24/2021 at 1:56 PM, Black_Adam said:

I bought a comic from @Martin Sinescu that is currently being held by Canada Customs, and I know Paypal is also holding his funds pending proof of delivery. 

If he hadn't let me know I am sure I would never have logged back into Paypal to actually confirm the item had been delivered.

Knowing how comic transactions are normally done - payment received and then item ships - this is going to put a big damper on Paypal as an accepted form of payment here and elsewhere. And that is no good for me as no one wants my Canadian money.  :tonofbricks:

I'll gladly accept it! :flipbait:

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Martin Sinescu

Martin Sinescu

Posted
Posted (edited)
On 11/24/2021 at 2:03 PM, jhutton2 said:

I bet this is a Canada specific policy 🤦.   PayPal started to get their act together a few years ago for international transactions, seem to be going backwards now.

more steps for buyers and sellers 😬 as well as long wait periods for accessing funds

Not Canada specific. As @Black_Adammentioned, they are holding funds from ours and another transaction to Canada pending confirmed delivery, but they did this for a sale in the US the same week as well (I did receive those funds around midnight of the day after the package was delivered). According to their rationale, I am "high risk" because I have not sold in a while (note that I sold through the bay and received funds via PP up until mid-January of this year and have been a paypal member for 21 years). I will now have to reestablish my credibility through them with consistent sales (not direct quotes, but that's the idea) before they will allow me direct access to my funds. I've been waiting over two weeks now for the money from my sales to Canada while the deliveries to Canada take slower than expected. Meanwhile paypal is daytrading with my money. I'm probably not doing anymore direct payments through paypal, sounds like MCS and CLink will be my next avenues.

Edited by Martin Sinescu
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KCOComics

KCOComics

Posted
Posted
On 11/24/2021 at 8:46 PM, Martin Sinescu said:

Not Canada specific. As @Black_Adammentioned, they are holding funds from ours and another transaction to Canada pending confirmed delivery, but they did this for a sale in the US the same week as well (I did receive those funds around midnight of the day after the package was delivered). According to their rationale, I am "high risk" because I have not sold in a while (note that I sold through the bay and received funds via PP up until mid-January of this year and have been a paypal member for 21 years). I will now have to reestablish my credibility through them with consistent sales (not direct quotes, but that's the idea) before they will allow me direct access to my funds. I've been waiting over two weeks now for the money from my sales to Canada while the deliveries to Canada take slower than expected. Meanwhile paypal is daytrading with my money. I'm probably not doing anymore direct payments through paypal, sounds like MCS and CLink will be my next avenues.

I had a similar experience to this a few months ago. I'm not a big seller, but did do a few larger sales earlier this year. 

The three largest sales were around or above four figures and the payment for all three were held until I had proof of delivery. I provided PayPal the shipping info and funds were released within a day or so of delivery. 

 

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D2

D2

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Posted

So I have literally just finished a PayPal transaction and I did not have this problem. 
 

In fact, I did just have this problem with eBay, doing literally what you just described, by holding my payment release until proof of delivery. So I will never sell on eBay again. 

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