Warning: 21-day hold on funds for eBay/Paypal users

Joselms · 08-16-2008, 01:12 AM

I stumbled upon this blog and link trying to find an answer for an item I sold on eBay and delivered, but the fund is being held by Paypal.

If you intend to list your gears for sale on eBay and expect payment through Paypal, you better think again. I'm not an online merchant and only sell my own gears that I don't need anymore, have been an eBay member for almost 3 years, have 100% positive feedback there, yet I got a hold on my funds.

I posted my blog but apparently Paypal did not like what I wrote so when I tried to access the link, my posting wasn't there anymore. I simply wrote that "I think this is a leeway for eBay and Paypal to, aside from their fees, try to revolve the money to earn interest."

Please read specifically the comments.

https://www.thepaypalblog.com/2008/03/safer-payment-m/

eBay Guides - PayPal - 2008 Changes - The 21 day hold on your money

Good thing there's PentaxForums and Craigslist, and Google Checkout. If eBay and Paypal persist with this practice, they may end up like Yahoo and MSN to Google as they are now to Craigslist and Google Checkout. Craigslist is risky, but I do it for local purchases only.

eBay does not own or hold title to items listed on their website nor does Paypal have the right as it is not the owner and recipient of the funds, they merely are intermediaries. The Feds (Federal Reserve and US Dept of Commerce) would surely love this story.

little laker · 08-16-2008, 03:17 AM

I heard about it a year ago, and it's one of the reasons I won't deal through PayPal.
If I want something I find it elsewhere, and buy it with a money order.
I've never gotten stung with this method.

Lots of luck with it.

*nupentaxian* · 08-16-2008, 09:22 PM

is this came directly from paypal/ebay? cuz i have listed some stuff on craigslist and scammers said they paid thru paypal (and sent me a fake email similar to paypal) but their money is on hold. I would not ship anything unless i get the fund in my account period. with all the fees and stuff it already discouraged me from selling on ebay now this; must be out of their mind to expect people to send their items away w/o receiving money first.

*Fl_Gulfer* · 08-16-2008, 10:19 PM

I'm sure Paypal keeps it's money in a offshore account, I called them the other day and talked to someone in India. I am going to start using Post Office money orders and if they are fake I won't ship the product.

cupic · 08-16-2008, 11:09 PM

Paypal/ebay got want to corner the market to themselves

Wait and see approach here in Oz

cheers

*TomInJax* · 08-17-2008, 06:32 AM

It gets worse.... Here is my post from another thread:

http://www.pentaxforums.com/forums/316975-post7.html

little laker · 08-17-2008, 11:52 AM

Thanks for the post Tom, I just looked at Google Checkout which I had never heard of before.
And it looks much better.

I've been asked by many people why I don't have a e-bay store, and the problems I've seen so many people have with PayPal is one of the biggest reasons.