Are ebay & paypal holding YOUR money?

[grandpaul]

If you don't like e-bay and paypal holding your money for no good reason, join the class action lawsuit against them.

http://www.freedweiss.com/PayPal-Holding-Money.shtml

I've just about had it with this cr@p.

 

[CarlS]

Actually, PayPal is holding Triumph Talk's money. I think they should pay interest since they charge us a small transaction fee.

 

[otherwise]

I don't understand, are you saying they won't hand over the money or just holding it for a couple of days while processing takes place?

 

[CarlS]

They hold the money until you transfer it to your banking account. At least, that is the situation in my case. I could transfer the money; but I opt to keep it separate and leave it at PayPal.

 

[otherwise]

GP said,
"If you don't like e-bay and paypal holding your money for no good reason",
thus suggesting he wants it but they are refusing to hand over, I think that's not the case with you Carl.
I've used paypal twice now and they are slow but after about 1 week all worked fine, it could be a problem if you were in a hurry for the money.

 

[CarlS]

My account is not a commercial account; GP's may well be a commercial account. I do not know the rules for commercial accounts. In my case, you are correct; I opt to leave the Triumph Talk money with PayPal because I use PayPal to pay Triumph Talk's expenses.

 

[grandpaul]

21 days they are going to hold several thousand dollars WITH NO VALID REASON GIVEN. "new policy"

I'm on the list in a class action lawsuit that's destined to be HUGE. The money they are raking in on interest must be astronomical, and it defies US & international banking laws.

 

[DaveM]

I don't have any money for them to hold

 

[CarlS]

GP, that is a blatant rip off!

 

[Dschief]

I don't have any money for them to hold

I am with Dave M, they can't hold what doesn't exist.
That is pretty crappy of them to do that to you GP. Did they notify you of this "new policy", or simply institute it with no warning?

 

[Ksquared]

I never use PayPal. I rarely use fleabay anymore. Now its just a storefront with a million "buy it nows" and on the true auctions, people just sitting on the offers with sniping software. Just not fun anymore.

 

[Gary]

Ebay's new policy is that you must have 25 Positive Feedbacks AS A SELLER in the last 6 months or they will hold your incoming cash for up to 30 days.

They hit me with this in November 2011. With ebay holding about $2,000.00 on me. I immediately listed 20 packages of vintage USA coins (worth about $2.50) for $0.99 with free shipping; all but two sold and I got 9 additional positive feedbacks (not every buyer leaves feedback, and multiple purchases by a single buyer count as only one feedback).

However, ebay's computer system only checks this measure once a month ( I was told on or about the 20th day of each month). Anyway, just before the end of the month, my "hold" was removed.

I never did find anyone in ebay Customer Service who knew what was going on (most of ebay's customer service people seem to be world class idiots and the only things lower than their IQs are their knowledge of ebay policies and their concern for resolving complaints). I got the straight scoop from my Paypal Advantage Club representative.

Anyway it cost me about $50.00 to get the required level of positive feedbacks from buyers. I also learned that the U.S. Post office has a special fee for anything they think needs to have the stamp(s) hand cancelled (like an envelope with coins taped inside); use a postage meter to avoid this fee.

 

[sonicboom]

The Paypal CEO moved over to take over Yahoo yesterday as the new CEO for that company. I wonder if this is going to turn into one of those deals with money missing andnobody knows where the money went?

 

[sonicboom]

I think they are going to find fraudulent chit going on with this crap. People are getting tired of this junk and fighting back.

 

[Gary]

Paypal would be much, much better if it was run independently of ebay. At present, whatever ebay tells Paypal to do, they do - right or wrong.

 

[sonicboom]

I think the whole thing is a scam with the holding of the money. I bet a dime to a donut they don't have enough money to cover what is left in those accounts because the money got sent into payroll and bonus plans within that company. Watch this play out...the feds tell them to pay those accounts in full they are not going to have the money to do it. ...Anytime people hold your money beware it is a scam for sure.

 

[Dilligaf]

Interesting

 

[sonicboom]

How many times have we seen this play out? THey are running a scam and nothing but. The money is being held for reasons. Just think ENRON

 

[sonicboom]

I like Craigs list and have sold a ton of stuff on there. I can't figure out how it works as far as making money? Anyone have insight on that? Have noticed I do get a ton of junk mail and that could be from Craigs list selling my e mail addy. Love the porn site invites with the pictures of the offerings. LIke the one with the 4,000 hot chics within 10 miles of me. ABADABADO.

 

[Dschief]

In all the years I've using CL and Ebay, I have had exactly 2 problems.
The first was for a seat for one of my old Yamaha's, I won the Ebay auction, and never received the seat. Ebay recovered my money for me after 60 days.
The second was one of those "I wouldn't touch this with a ten foot pole" deals on CL, it was a listing for a 2005 Speed Triple within 50 miles of me at a really nice price. I emailed the seller, who emailed me back stating he was doing missionary work in Africa, but if I sent his wife my phone # to a very strange looking email address, she would send me more pictures so I could purchase it. Umm, no, I don't think so Tim! I'll buy it after I see it and hear it run.