Paypal holding our money for 21 days!

emweaver

Maybe its when the buyer is high risk its held? As funny enough both myself and my sister had claims made on our payment that were held by paypal!? Mine was for a 15" TV that so say got lost in the post, its a big, heavy box so loose it I dont think so! It was packaged well so nobody could see it was TV as I know how the postmen work sometimes lol. My sister sold a shower which weight about 14kg so how could that of got lost!?

catmiaow

Hintza wrote: »

Look at it from the other side. New seller list high risk items and bolts with the money. Who pays for that?

Well Paypal offer buyer protection for that reason, they make enough money they should be covering this or at least providing a more secure service where they can avoid this kind of thing happening, without inconveniencing people. Never heard of Google Checkout holding anyone's money(I know it is not used on ebay, but still they find other means surely)

And it is not always new sellers, I have been registered since 2004. Sold a fair amount with over 200 feedback and i have had payments held.:rolleyes:

dougk_2

Its just another way of ebay/paypal making more profit(they are the SAME company) by gaining interest on your money while its on hold.
Whilst it may protect a few genuine buyers who have the unfortunate dealings with scam sellers, it will be those buyers who "pretend" they didn't get the item at a genuine sellers cost, who gain.

catmiaow

Yes exactly, Paypal really causes problems for the sellers by its policies, specifying things you have to do to avoid a claim. A lot of fraudsters know what to do to get their money back and a lot of people know they can get chargebacks. its very open to abuse.

wendyacarl

hi
just to let you know that i had over £200.00 held by paypal, which was not funny, they held the funds because i had 1 neg feedback out of 50. i was told that they would release the funds after the customers left + feedback. all well and good but we all know that all customers dont leave feedback all the time. i had to find the money to post all items out of my own pocket where i would normally use royal mail and use paypal to pay. the man at paypal was a bit shocked when i said that if i found out they were holding my money i had paid for something instead of giving it to the people i wanted it to go to that i would contact the police about it as far as i am concerned if i pay someone for something i dont expect someone else to hold onto my money. he said he would pass on my comments, yeah yeah i think not. it is about time paypal and ebay learnt they cant always do what they want.
i would just like to say thanks to martin lewis for so much fantastic advice, i look forward to my newsletters and take his advice to heart.
all the best and good luck with getting your money released as i did every penny, apart from the 1p's that i refunded everyone, but it worked and they arent going to have interest on my money anymore.:T

vet8

I just think this is a fraudster's dream. Buy something and then say it did not arrive or it was broken, leave negative feedback and you get the money back and get to keep the item.

I am all in favour of protecting buyers from rip-off sellers, but this seems to stuff the sellers entirely. It is making it SOO easy for fraudsters to steal from honest sellers who are trying to make a living. Would you take something from a shop and then pay 21 days later?

soolin

vet8 wrote: »

I just think this is a fraudster's dream. Buy something and then say it did not arrive or it was broken, leave negative feedback and you get the money back and get to keep the item.

I am all in favour of protecting buyers from rip-off sellers, but this seems to stuff the sellers entirely. It is making it SOO easy for fraudsters to steal from honest sellers who are trying to make a living. Would you take something from a shop and then pay 21 days later?

Think about this logically though, a buyer is only likely to do this on high end goods, I wouldn't have thought there was a lot of scope for being so openly fraudulent and putting through dozens of claims for small items. Any thing over £36 would be sent special delivery anyway, so seller is completely safe against false claims of non receipt.

If sellers start worrying about being scammed for £5 items and think paypal won't notice a buyer putting in dozens of claims..then maybe ebay isn't for them.

As for paying after 21 days, yes anyone with a credit card actually does that. Someone processing credit card sin batches will get their money in batches and meanwhile the buyer might easiyl wait 21 days before he/she needs to pay a credit card bill. Obviously any retailer taking credit cards in payment would alos be subject to all th enormal chargeback rules against payments he may not even have received. Slightly different I know, but still a rather crude illustration that business works in a strange way sometimes.

catmiaow

soolin wrote: »

Think about this logically though, a buyer is only likely to do this on high end goods, I wouldn't have thought there was a lot of scope for being so openly fraudulent and putting through dozens of claims for small items. Any thing over £36 would be sent special delivery anyway, so seller is completely safe against false claims of non receipt.

If sellers start worrying about being scammed for £5 items and think paypal won't notice a buyer putting in dozens of claims..then maybe ebay isn't for them.

As for paying after 21 days, yes anyone with a credit card actually does that. Someone processing credit card sin batches will get their money in batches and meanwhile the buyer might easiyl wait 21 days before he/she needs to pay a credit card bill. Obviously any retailer taking credit cards in payment would alos be subject to all th enormal chargeback rules against payments he may not even have received. Slightly different I know, but still a rather crude illustration that business works in a strange way sometimes.

I agree most people would not make false claims on small items, but it is more chargebacks i worry about.

The credit card companies have a lot more money than i do, so can afford to wait for their money. I still do not agree that Paypal should hold your money, there are other ways to make things secure. They want to protect the sellers more than they do.

RFW

It is unfortunate for those involved, but I can't help but wonder if Paypal do this for sellers or sellers of items that they don't want to be selling on Ebay. It is afteer all a small percentage of sellers who cause a disproportionate amount of complaints and ultimately cost for both.

Brooker_Dave

dougk wrote: »

Its just another way of ebay/paypal making more profit(they are the SAME company) by gaining interest on your money while its on hold.

The interest on all that money will significantly improve ebay's profits.

But of course it's only been done to protect ebay users, that it happens to earn ebay a fortune is just a complete coincidence...