Foxie3a
11-05-08, 06:24 PM
This is part rant, part inquiry, and part question.
I have read Paypal's terms of service, but it's been a while, and I might not be able to remember it completely, but I don't recall seeing anything about this in there.
Basically, if you have a paypal account, and sign up for a NEW ebay account, and sell something, those funds from the buyer will be held by Paypal for 21 days, unless if there is a dispute filed, then it'll be longer.
It's silly for me because of the amount of business I do with paypal. I've called them up, and had the guy on the phone laughing because I'm here getting funds from multiple ebay accounts, and they're holding the small $75 transactions on the new account.
The funds are on hold, and it tells you to ship now. Once I was on the phone with a mean guy, so I argued that I had no money to ship the item, thus Paypal was the cause of the buyer not getting his stuff. They said they'd release $5 for shipping... haha.
When I read Paypal's TOS, I don't recall seeing anything at all about holding funds from new ebay accounts. From my memory, I recall something about them being able to hold funds when they think there is fraud, or even bad business practices. They even hold your money if you have a 10x sales increase in one month. They held a large amount of my money for well over a month because my SSN was not in their database. I'll never forgive them for that, as it's not my fault that they have incomplete databases. Yelling at a supervisor got them to use a real method of confirming my identity. They held my money because that one credit reporting agency didn't have me on file, I forget their name, sounds like Expedia. I think it's horrible for a company to claim you're a fraudster because a 3rd party business doesn't have your info on file.
But, for the sake of this argument, here is my problem... Paypal puts the funds on hold because EBAY tells them to. My account is not new, I've had it for years, and do a lot with it, there are no restrictions on it. With ebay, sometimes I make a new account, and when I do, all the funds from those sales automatically go on hold, and I can't touch any of it.
Of course Ebay is a huge company, and owns Paypal... But, Paypal is their own company with their own TOS that I have agreed to. What gives Paypal the right to hold people's funds because another company told them to?
I have read Paypal's terms of service, but it's been a while, and I might not be able to remember it completely, but I don't recall seeing anything about this in there.
Basically, if you have a paypal account, and sign up for a NEW ebay account, and sell something, those funds from the buyer will be held by Paypal for 21 days, unless if there is a dispute filed, then it'll be longer.
It's silly for me because of the amount of business I do with paypal. I've called them up, and had the guy on the phone laughing because I'm here getting funds from multiple ebay accounts, and they're holding the small $75 transactions on the new account.
The funds are on hold, and it tells you to ship now. Once I was on the phone with a mean guy, so I argued that I had no money to ship the item, thus Paypal was the cause of the buyer not getting his stuff. They said they'd release $5 for shipping... haha.
When I read Paypal's TOS, I don't recall seeing anything at all about holding funds from new ebay accounts. From my memory, I recall something about them being able to hold funds when they think there is fraud, or even bad business practices. They even hold your money if you have a 10x sales increase in one month. They held a large amount of my money for well over a month because my SSN was not in their database. I'll never forgive them for that, as it's not my fault that they have incomplete databases. Yelling at a supervisor got them to use a real method of confirming my identity. They held my money because that one credit reporting agency didn't have me on file, I forget their name, sounds like Expedia. I think it's horrible for a company to claim you're a fraudster because a 3rd party business doesn't have your info on file.
But, for the sake of this argument, here is my problem... Paypal puts the funds on hold because EBAY tells them to. My account is not new, I've had it for years, and do a lot with it, there are no restrictions on it. With ebay, sometimes I make a new account, and when I do, all the funds from those sales automatically go on hold, and I can't touch any of it.
Of course Ebay is a huge company, and owns Paypal... But, Paypal is their own company with their own TOS that I have agreed to. What gives Paypal the right to hold people's funds because another company told them to?