Pretty upset with Paypal. 20 days before I could access payment received

thepopularjock

thepopularjock

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Well this is part griping - part heads up for you guys.
I sold something on Ebay needing a quick bit of money. I was thinking I sell real fast, get my money and be in good shape. Apparently Paypal had other ideas.
20 days after I received a Paypal payment from an Ebay transaction - I FINALLY received an email saying that my funds are ready for transfer into my bank account.
I understand verifying a payment. I grudgingly deal with Bank of America's policies that make me wait 4 or 5 days for verification but almost 3 weeks? That is not cool. If there was another option for money transaction I would be willing to do something else. I am not happy with Paypal. Not to mention they charged me for the last couple of "Gift" transactions that I have sent and I am wishing there was another option.
So a heads up to you guys. You will probably not be able to retrieve your money from Paypal purchaces as fast as you would like..........Unless you like waiting 2 1/2 weeks :shaking head:
 
and to think they are holding many thousands of payments...gaining interest for them selves. ripping off there customers in the possess. :sinister:


:eyebrow: :shaking head: :jaw drop:




.
 
Not sure, but I think they only do that the first time you receive a payment from a eBay buyer. They wait till the buyer has received their item and is happy with the seller (or, doesn't complain).

:)
 
I think its more about waiting to payments to completely clear and not bounce. Also ensuring that payments are not fake checks or returned. 3 weeks is a bit long if you ask me. I do not think the middle man should hold YOUR money that long.
 
funny, if I write a check it clears the same day... yet these banks are continued to allow to hold deposits.... I had to argue with my local branch.. wanted to hold an institutional check (from the same bank) for "five days to clear"... I told them that wasn't going to fly.. they gave me the money the same day, I shouldn't have to fight for money, they can hand out my money the same day, they can easily give you your deposits the same day.

I can understand paypal covering themselves for a first transaction, they do provide low hassle insurance... they also caught on to all the "gift" transactions and started charging for that a while back. Three weeks still seems a bit long
 
I use PayPal on a regular basis and other than holding a payment for 24-36 hrs every now and then I never had issues. With online banking you could transfer money directly I believe. Someone transfer $ directly from there bank to my PP account a bit ago... not sure how he did it?

I use Google check out some time. Not sure if you can receive $ from them? What ever... 3 weeks sucks!

http://venturebeat.com/2012/03/15/paypal-faces-a-crowded-fray-in-mobile-payments-infographic/
 
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This wasn't my 1st transaction as a seller with Paypal. I actually went back and checked - it has been 8 months since my last transaction as a seller. I did have to switch bank accounts since then so maybe that is the same thing to Paypal? I don't know because I sure did go through a verification process that was suppose to speed things up and ensure my transaction. PLUS I had enough money in my account to cover this transaction in case the buyers purchase bounced.
I need to call Paypal and get them to explain this to me but I just haven't had time.........
 
Marthy said:
I use PayPal on a regular basis and other than holding a payment for 24-36 hrs every now and then I never had issues. With online banking you could transfer money directly I believe. Someone transfer $ directly from there bank to my PP account a bit ago... not sure how he did it?

I use Google check out some time. Not sure if you can receive $ from them? What ever... 3 weeks sucks!

Paypal faces a lot of competition in mobile payments (infographic) | VentureBeat
Click to expand...


I use Paypal regularly. By regularly I mean I have become somewhat of an online shopper. LOL Now I am reducing my stock and selling off some of the things that I don't use anymore..........You know - so I can buy more stuff :woot::woot:
I have online bill pay through Bank of America. I normally can pay my bills online and transfer money from one account to the other - this situation was about Paypal holding my money and not letting me have it.
 
thepopularjock said:
I use Paypal regularly. By regularly I mean I have become somewhat of an online shopper. LOL Now I am reducing my stock and selling off some of the things that I don't use anymore..........You know - so I can buy more stuff :woot::woot:
I have online bill pay through Bank of America. I normally can pay my bills online and transfer money from one account to the other - this situation was about Paypal holding my money and not letting me have it.
Click to expand...

I can confirm you are a good PayPal payer! :)
 
Hail said:
I can confirm you are a good PayPal payer! :)
Click to expand...

LOL Thanks Brad.. :D
I honestly wish there was another option.
IDK - I am just guessing but I think Paypals days may be numbered. Bank of America has been sending me lots of emails about being able to send money without a 3rd party. Straight from one bank account to another with no middleman. I have also been seeing commercials like that from Wells Fargo Bank. I really don't see the need for a middle man if banks already "hold money" for a few days to make sure that the payment clears - seems like they could charge the same fees as Paypal and cut them out of the loop.
IDK - I am just guessing. I'm not a part of the banking world in any way.....
 
It's not paypal, it's ebay.

I've had numerous successful transactions on various forums over the last year. Yet, it's been a good 3-4 years since I listed and sold something on ebay. Paypal said it would hold the funds for 3-21 days after delivery. In all instances, because items are trackable (to paypal's satisfaction), once it hits a delivered state, funds are released within 3 days. If you don't provide paypal the tracking information for your widgets, then they will sit on the money up to the full duration. After you have so many successful ebay transactions, then this restriction is lifted. I think it's either a combined dollar amount or actual number of transactions. I don't recall.

In addition to ranting on a bike forum :), your best bet would of been to contact paypal to find out why it was being held.
 
GPz1100 said:
It's not paypal, it's ebay.

I've had numerous successful transactions on various forums over the last year. Yet, it's been a good 3-4 years since I listed and sold something on ebay. Paypal said it would hold the funds for 3-21 days after delivery. In all instances, because items are trackable (to paypal's satisfaction), once it hits a delivered state, funds are released within 3 days. If you don't provide paypal the tracking information for your widgets, then they will sit on the money up to the full duration. After you have so many successful ebay transactions, then this restriction is lifted. I think it's either a combined dollar amount or actual number of transactions. I don't recall.

In addition to ranting on a bike forum :), your best bet would of been to contact paypal to find out why it was being held.
Click to expand...

No its paypal. My uncle sent me some money so I could get signed back up for college. I didnt have enough cash laying around to pay it all off. Anyway we are both verified paypal users and have sent money to each other several times via paypal and this last time I had to wait 3 days for it to Verify the payment. It's BS is what it is
 
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