Paypal 21 day holding of payment?

jim453
jim453 Posts: 1,360
edited January 2012 in The bottom bracket
Hello.

I was recently helped on here with my first ever foray into e-bay selling. Give or take some irritating e-mail address f*** up on the part of Paypal, all went reasonably smoothly, until now.

All my buyers have paid for their stuff and some are beginning to return positive feedback after having it delivered. I am now starting to understand that there is some type of twenty one day hold on funds being released to me as I am a first time seller and even then it may be dependent on one or two things.

So, here I am, no goods and no payment and completely at the mercy of the buyers and/or Paypal.

Does anyone know how I can get the money owing to me? and does anyone have any idea why this seemingly very one sided situation is needed?

Thank you

Comments

  • Smokin Joe
    Smokin Joe Posts: 2,706
    I believe Pay Pal have started doing this in case of a dispute between buyer and seller, should they come down on the side of the buyer they have the money to return to them.

    It's a bit one sided as there are probably at least as many dodgy buyers on ebay as there are sellers, claiming the goods were damaged or didn't arrive etc.
  • Wirral_paul
    Wirral_paul Posts: 2,476
    https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&content_ID=security/paypal_holds_faq

    Does that help? It seems to be just an inconvenience that newbies have to go through while they are verified as genuine sellers. Sell a few low value items if you can.

    I've been on for years and dont have to wait for funds. Paypal / ebay should change your status shortly.

    ALWAYS ALWAYS send items via courier or with proof of postage.
  • nweststeyn
    nweststeyn Posts: 1,574
    PayPal is a hellish company owned by, yes you guessed it, eBay inc.

    Try to avoid wherever possible, but I know that isn't always easy. I'm afraid you just have to go along with their nonsense and hope you don't have a buyer take advantage. I once had PayPal hold a significant amount of cash from me for almost 3 months whilst they 'investigated' something. To this day, I still have no idea what they were 'investigating'.
  • Wirral_paul
    Wirral_paul Posts: 2,476
    nweststeyn wrote:
    To this day, I still have no idea what they were 'investigating'.

    Investigating how much extra profit they can make by earning interest on holding other people's money, and how much they can get away with it :lol:
  • jim453
    jim453 Posts: 1,360
    Thank's for the quick replies.

    I suppose I have to sit it out.

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