Paypal say they will hold funds

xabia

I can see these new rules putting many new sellers off.If you have under 100 feedback looks like your gonna have to wait up to 21 days for your money
:mad: :mad: :mad:

Brooker_Dave

xabia wrote: »

I can see these new rules putting many new sellers off.If you have under 100 feedback looks like your gonna have to wait up to 21 days for your money
:mad: :mad: :mad:

Is not the only option to wait 21 days before releasing the goods?

Fraud works both ways...

Brooker_Dave

RFW wrote: »

It would certainly be annoying to be affected by it, but I can't see what law they are breaking or indeed which other laws they contravene. As I understand it Paypal are based outside the UK for financial reasons/requirements and not so they don't have to comply with UK law (they do!).

Surely the waiting 3 weeks for payment to clear is an unfair contract condition?

If banks can clear a cheque in 6 working days, as they have been made to do....

And ebay *forcing* its customers to accept paypal surely must break EU consumer law and inself is anti competative?

Imagine if you brought a Ford car and Ford made you only buy Shell petrol...

go4it

I'm in the middle of a dispute with Paypal (laptop sent, parts remved, returned to me damaged etc etc).

Trying to complain about them is VERY hard. They are NOT REGULATED in the UK (Luxembourg). Plus the Financial Ombudsman has a very long waiting list, and you must spend 8 weeks trying to resolve the case with Paypal before filling forms with the Financial Ombudsman.

How is a company like this getting away with it? Everyone just needs to vote with their feet (or hands!) and quit Paypal and even Ebay all together.

go4it

Brooker_Dave wrote: »

And ebay *forcing* its customers to accept paypal surely must break EU consumer law and inself is anti competative?

I don't use Paypal now, but still thought I would give Ebay a go. Throughout my listing was nothing but Paypal ads, messages saying that the buyer was 'unprotected'.

Brooker_Dave

go4it wrote: »

I'm in the middle of a dispute with Paypal (laptop sent, parts remved, returned to me damaged etc etc).

Trying to complain about them is VERY hard. They are NOT REGULATED in the UK (Luxembourg). Plus the Financial Ombudsman has a very long waiting list, and you must spend 8 weeks trying to resolve the case with Paypal before filling forms with the Financial Ombudsman.

"Therein lies PayPal's competitive advantage, said Quarles of Thomas Weisel Partners.

"They've figured out how not to be regulated, and they've done that globally," Quarles said. "[PayPal] has gone to great pains to be not considered a bank.""

http://money.cnn.com/2008/02/26/smbusiness/paypal_float.fsb/

Apparantly paypal go out of their way to aviod being regluated.

Given this why should ebay's customers be forced to use a unregulated company for their financial transactions?

Brooker_Dave

go4it wrote: »

How is a company like this getting away with it? Everyone just needs to vote with their feet (or hands!) and quit Paypal and even Ebay all together.

Ebay do seem intent on upseting almost all their customers one way or another.

I do wish Google or Tescos would open an auction website...

martindow

Paypal are not unique in this. It is not uncommon for other card processors to do the same thing and settle payments a month in arrears especially for web based businesses. I imagine it is all covered in the terms and conditions you sign up to so not illegal. It is a cheek though to take the interest from the cash you are waiting for.

Time2Go_25

Brooker_Dave wrote: »

Is not the only option to wait 21 days before releasing the goods?

Fraud works both ways...

The problem is by not sending the goods for 21 days the buyer is likely to raise a not received dispute with Paypal who will then refund them and you'll end up with a black mark.

Brooker_Dave

pdel61 wrote: »

The problem is by not sending the goods for 21 days the buyer is likely to raise a not received dispute with Paypal who will then refund them and you'll end up with a black mark.

So best not to use ebay's paypal?

But the ebay says sellers have to use their paypal....

See conflict of interest.