PayPal's new policies?

Discussion in 'General Discussion' started by Tigertrack, Apr 5, 2010.

  1. Tigertrack

    Tigertrack Back In The Game!

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    Hello there. I just recently sold an item on ebay and was about to send payment for a G1 collectors guide book I had purchased last week. While my buyer sent me instant payment, and I have the funds in my PayPal account, PayPal's new policy states that the funds are on hold until both parties are satisfied? What the hell? Just two weeks ago I was able to send whatever I had in my PayPal account right away! What gives?
    I think I see what their trying to do, but it's not fair for me to sit on "available" funds for a few days.
    Has anybody else experienced this?
     
  2. Omegatron

    Omegatron Mandatory Fun. Buy it now TFW2005 Supporter

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    Ebay:
    It's part of eBay's continuing monopoly. By holding that money even an extra day or two, they're probably making interest hand over foot, while pissing off customers who have no other option.
     
  3. Tigertrack

    Tigertrack Back In The Game!

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    I was surprised this morning when trying to pay for that book.
     
  4. Fuzz

    Fuzz Garbage Pail Kid

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    Yep. Do that a few hundred thousand, or even million, times and look at the interest they're earning.
     
  5. Cruellock

    Cruellock Disney Villain

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    What does "satisfied" mean? You can't touch the money for X number of days or both people have to click some "satisfied" button?

    I really don't like the sound of this..
     
  6. wildfly

    wildfly Lasers, 8 O'Clock, Day 1.

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    IIRC, You have to at least provide shipping info w/tracking, or perhaps even wait 'til the buyer leaves feedback, before the $$$ is released.
     
  7. smkspy

    smkspy is one nice fucking kitty

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    It probably mean until both parties leave feedback or a certain number of days just happens to expire.

    Ideally, I see this as ebay/paypal being tired of "guaranteeing" your purchase even when funds cannot be recovered from a seller.

    Nah, it's just a conspiracy.
     
  8. Mark94

    Mark94 Well-Known Member

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    Is this for ebay transactions only?
     
  9. chrisr291

    chrisr291 Master of the Unknown

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    Ebay:
    It happened to me a few months back and was quickly removed from my account after I called paypal to bitch at everyone.

    I was bitching across the world, from Indians to America lol.

    However, for your sake, you must buy a tracking number and enter it into ebay. The quicker you can prove its been delivered, the faster your going to get your money.
     
  10. Tigertrack

    Tigertrack Back In The Game!

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    I was shipping it the cheapest way possible not knowing this new issue. I did get delivery confirmation, but not sure if that'll count.

    And yes, I think it's only related to ebay-purchasing as it was an ebay-related payment.
    I'm sure if forum members were doing business with forum members, it wouldn't be an issue. It's an ebay safety thing.
     
  11. Cax6ton

    Cax6ton Insufferable Smartass

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    Correct - none of my transactions with forum members have been held up this way, the most recent was a few days ago. Anything not on ebay still runs the old fashioned way, as far as I have seen
     
  12. Razerwire

    Razerwire 99 Problems... Super Mod

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    Paypal also now charges fees for credit card payment even if you use the gift option.
     
  13. Macross7

    Macross7 Well-Known Member

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    Ebay:
    So what does Paypal want sellers to do if the only funds in Paypal is the payment? I've always used those funds to pay for shipping. Can't ship if you can't pay.
     
  14. Macross7

    Macross7 Well-Known Member

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    Ebay:
    Also, I've found buyers to be pretty lazy when it comes to feedback. The buyer gets the item & often won't rush to leave feedback, if at all. So the seller is at their mercy to get paid.
    Can't wait for when buyers start thinking that if they say 'negative' they might get their $$ back
     
  15. Da_Last_2_Walk

    Da_Last_2_Walk Da King Of Pre Rubs TFW2005 Supporter

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    This is not a new paypal policy.

    This action was done because you have just started selling on ebay.
     
  16. Motor_Master

    Motor_Master Lets the balls touch TFW2005 Supporter

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    As far as I knew they've always charged fees when a credit card is used for payment business or personal.
     
  17. Hook

    Hook Out of Options Veteran

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    No and yes.

    No, i's actually a (relatively) new PayPal policy. It appeared about a year ago. Yes, the action was done because you have a seller feedback rating of less than 100.

    In other words, sellers with a feedback of less than 100 will see their funds held until the buyer leaves feedback OR until eBay/PayPal can check the tracking info to confirm that the package was delivered OR will release the funds 21 days after the transaction.

    I can see how this can protect the buyer, but it's a real pain for sellers. Also, this only seems to apply to high-value items. Stuff under $100 don't seem to be affected by this, but I've yet to find if there's an actual price threshold where this is applied.
     
  18. Da_Last_2_Walk

    Da_Last_2_Walk Da King Of Pre Rubs TFW2005 Supporter

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    Incorrect.

    This is an ebay policy, not a paypal policy. Also, this ebay policy is more than 2 years old.
     
  19. Tigertrack

    Tigertrack Back In The Game!

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    I disagree. Just recently I sold an RC crawler and was able to use the funds immediately. And the customer was satisfied with his purchase a week later.
    Not sure why this is different. It's still on hold today. Ebay owns PayPal, so it really doesn't matter "who's" policy it is.
    This is one reason why ebay sucks. They charge you for selling items, fair enough. They also own PayPal and charge you for receiving funds! Double whammy!

    I certainly hope I don't have to wait for feedback before using the funds. Cause as was said, some people don't leave feedback. I leave feedback for everyone. I never did get a feedback from the guy who sold me Masterpiece Megatron and upon receiving him I immediately gave him a great feedback!
     
  20. Sideswipe1954

    Sideswipe1954 Well-Known Member

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    Have not had an issue yet. My fiance and I just started doing a little selling on Ebay, nothing high dollar, plus we are selling some of my collection here on TFW, and every time, money has been instantly available to do with as we like, but we also make sure to buy postage via Paypal and ship within 24 hours of payment. Sold 4 things so far on Ebay, 3 left feedback, 1 is still in transit (damn Parcel Post)
     

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