Comments on: Are your PayPal funds safe?

By: Dave Reedman

Dave Reedman — Wed, 03 Feb 2010 21:45:23 +0000

As an addendum, I have had several phone call conversations with both Ebay and Paypal today. Ebay claim that, once an item has been signed for, the funds are automatically released…..NOT TRUE!!!! I have funds pertaining to an item that was received 2 days ago (I have the time and signature on Royal Mail tracking) that still had not been released. It was only when I rang Paypal to question them that they manually released it for me! Further “conversations” with Paypal also report a fault on their system that prevents payments being automatically released, and that all “releases” are done MANUALLY!!! WHAT THE F**K!!!!!
Ebay are definitiely killing this golden goose!!!!

I’m tired of this and will be going to “The River”…..if only to drown myself!!! LOL

By: Dave Reedman

Dave Reedman — Wed, 03 Feb 2010 03:57:30 +0000

I fully echo the sentiments above. Until recently, I had 100% feedback….and no issues with my buyers, at all. Recently, I received a negative feedback from a buyer that failed to send me size details for an item, depsite ailng her several times! A second buyer claimed that she had not received an item that I had Airmailed to Gibralter, despite having proof of postage.
As a result, the Ebay/Paypal partnership are now holding every payment that have recently received, making up over 90% of my account!! I cannot operate my account any more, nor am I able to pay my monthly fees!!! They claim that funds will be released when the buyer leaves feedback but, even when I have proof of delivery, and I have messaged the buyer to prompt feedback, the feedback is still not forthcoming!! Hence, no usable funds!!! This situation is preposterous and I will be shortly moving over to alternative markets.

Thanks for your time…..

By: ron bowman

ron bowman — Sun, 07 Jun 2009 05:57:34 +0000

Don’t trust ebay and paypal. They locked my account for no reason holding over 5k for several weeks. I have 100% feedback with over 7 year history with ebay. You cannot withdraw much money from paypal at once without the chance of getting your money held for a long time.

By: lancedalot

lancedalot — Wed, 24 Dec 2008 11:03:41 +0000

The amended Paypal User Agreement, which allows Paypal, at it’s “sole discretion,” to withhold seller funds for 21-180 days without arbitration is enough to make any wise person to close their Paypal account!!!

By the way, Paypal (owned by ebay) also keeps ALL of the interest the money accrues, while they are denying you access to your funds (unless you sign up and pay for another Paypal money-maker scheme, which allows you to regain those fees, but not without a battle).

We can thank ex-CEO, Whitman and current ebay CEO, Donahoe for their “Disruptive Innovation” SCHEME for other such detrimental policies, which are killing sellers’ businesses, reputation, finances and morales.

Search the internet for “Ebay Stockholders
and Sellers Calling For Immediate Termination of John
Donohoe CEO Petition”.

To learn more from ebay employees about the EXTREMELY POOR upper management of ebay, go to glassdoordotcom.

FIRE DONAHOE!!!

By: Steve

Steve — Thu, 02 Oct 2008 17:04:42 +0000

@Muk
I personally don’t think PayPal funds are at risk. But I like to scrape my account into my local bank regularly.

I’ve grown a bit cynical with most things eBay touches, so I like to keep my money away from them when possible.

By: Muk

Muk — Thu, 02 Oct 2008 16:09:08 +0000

WHat about using the funds towards my Paypal credit card? I get a nice rebate when I use my card. I guess it’s a tradeoff…rebate for fear. I usually keep 1-2 grand in the account for Xmas ebay shopping. Works well.

By: Henrietta

Henrietta — Tue, 30 Sep 2008 05:48:33 +0000

Time was I maintained funds in a PayPal MM account, that was when the rates were good. As the rates quietly dropped I removed my funds. If I have to accept PayPal I sweep the same day. This is common sense as BMX said.

By: bmx

bmx — Tue, 30 Sep 2008 05:32:32 +0000

Anyone who leaves money in their paypal balance is dumb anyway honestly.

Do a nightly sweep!