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Old 28 September 2010, 05:55   #1
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Paypal rant -

I'm seriously thinking off binning off pay pal! - I'm bring this to everyones attention incase people wernt aware -

here's an email off then saying I've received payment for something, which is fine - I now find out trawling through various forums that the money grabbing b*stards and are holding on to the funds for up to 3 weeks (earning interest) and shaving their silly amount off that they do anyway (thieving gits) off the balance and then take further 4-5 working days to BACS it to your bank account! (nearly a month)!!!

I've had enough! - I'll use to buy things, there not getting any more money off me, coupled with eBay hiking up their sellers fee's recently to 10% of the final value selling price! - I say F8ck em! Ill use and abuse them for purchases nothing else

(email copy/pasted below) - I've blanked a few bits like my name etc -

----------------------------------------------------



Dear **************


Your money is on its way - please ship this item

You've received a payment from *********

The money from your payments will be held temporarily for up to 21 days. After this time you'll be able to access the full amount and withdraw your money.

When will we release the payment?
You'll be able to access your money after 21 days, providing your buyer hasn't reported any problems. You may be able to access your money sooner if we can confirm that the item was delivered or, if this is an eBay item, your buyer leaves you positive feedback.

To help speed up the process, please ship this item as soon as possible and tell your buyer.

Payment details
Amount (pending): 40.01 GBP
Transaction ID: 38N688671***************
Buyer's email: ***********@hotmail.co.uk

Ship-to address: *************
*********************************
stoke-on-trent, United Kingdom

To help speed up the process, please take the following steps:

Log in to your PayPal account and go to the Transaction Details page to see if this transaction is eligible for seller protection. For more information, see our tips on how to sell securely
Ship to the buyer's address as stated on this page
If your item is over £150 please use a shipping service which offers signature confirmation
Save all proof of shipping, and email tracking information to your buyer

Yours sincerely,

PayPal
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Old 28 September 2010, 08:11   #2
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Olly

I purchased something on ebay recently via Paypal and had a message from the seller asking me to leave feedback as soon as I could because Paypal were holding payment. I left some feedback and didnít think anything of it, but it sounds like the same thing.

Although Iím not selling anything on ebay at the moment, I am selling some stuff on the Disco3 forum, and have asked for payment by Paypal, so will find out then I suppose.

I use Paypal quite a lot but might change now.

Nasher
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Old 28 September 2010, 10:31   #3
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So as a buyer it suits you because you get some degree of protection against payment and no/faulty goods but you think it is unfair that they hold the funds in the meantime...

What their email doesn't do a good job of getting across is that this is based on a "risk assessment" by them about how high risk you/the transaction is. I don't see that as unreasonable. Many sellers who have verified their PayPal accounts, got good ebay scores, been trading on ebay and Paypal for a while etc will not get funds "held" at all.

https://www.paypal-marketing.co.uk/s...rEbayItems.htm

You'll find that Googlecheckout and other similar credit card processing services have similar buffers built in to the system to protect them.
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Old 28 September 2010, 10:51   #4
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I understand a bit better now and all for the buyer,

what I dont understand as I have an immaculate ebay rep, well over 230+ postive, sell the odd boat/car part etc to the wider audience, so not high risk, good credit score, etc etc blah blah, its a pain in the arse so I'm off - target the scammers instead I say

Im still convinced there making more money (interest) in their accounts by hanging on to funds for 21days +, and palming us off with these needed "criteria"
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Old 28 September 2010, 10:53   #5
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Quote:
Originally Posted by Nasher View Post
Olly

I purchased something on ebay recently via Paypal and had a message from the seller asking me to leave feedback as soon as I could because Paypal were holding payment. I left some feedback and didnít think anything of it, but it sounds like the same thing.

Although Iím not selling anything on ebay at the moment, I am selling some stuff on the Disco3 forum, and have asked for payment by Paypal, so will find out then I suppose.

I use Paypal quite a lot but might change now.

Nasher
me too too mate, I'll be wheeling and dealing more on boatsandoutboards and car forums -
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Old 28 September 2010, 11:24   #6
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Quote:
Originally Posted by ollyit View Post
I understand a bit better now and all for the buyer,

what I dont understand as I have an immaculate ebay rep, well over 230+ postive, sell the odd boat/car part etc to the wider audience, so not high risk, good credit score, etc etc blah blah, its a pain in the arse so I'm off - target the scammers instead I say

Im still convinced there making more money (interest) in their accounts by hanging on to funds for 21days +, and palming us off with these needed "criteria"
They've certainly managed to build a market dominating position which lets them call the shots, and gives potential on-line buyers some cause for concern if you don't offer it. Is your account "verified"? I think this makes a big difference to them.

I know why you don't like it, and whilst I kind of agree - its a bit like Ryan Air - I'd much rather there was a "PayPal" than have to send payments by some old fashioned system etc. In fact if they had set it up so that it was a kind of "escrow" facility in the first place probably nobody would be complaining.

I'm not sure if they have courier tracking number integration on Paypal.co.uk yet (google do on their equivalent, and Paypal US do) - this means you get your money released quicker.
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Old 28 September 2010, 15:59   #7
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Sounds like you need to verify your account if you dont have a current bank account or credit card registered they will hold funds as otherwise they have no means of recovery if there is dispute.

I'll bet you will be glad of that one day when you buy something that is not as described and PayPal get your funds back
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Old 29 September 2010, 04:47   #8
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thanks guys youre both right, its all about the buyer and one day I might need the safe recovery of ££ - and yes my account was verified back in 2005 and added/removed some 7 different debit and credits cards since as they expire like they do - I give up
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Old 06 October 2010, 12:09   #9
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Omg thats insane!
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Old 06 October 2010, 12:39   #10
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I use ebay for buying and selling extensively and at the moment am just shy of 1000 positives.
I dealt quite successfully for many years using cheques and PO's until paypal was forced upon all sellers.
Now with the very expensive fees and the way paypal works I have stopped selling as well and only keep the account for buying.
The weighting is way too far to the buyer nowadays and far too expensive.
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