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      09-05-2012, 08:39 AM   #1
6spdg37s
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anyone notice paypal/ebay now withholding your money longer?

Ive been selling things on ebay for years and with a verified paypal account I was able to send the money to my checking account almost instantly.

All of a sudden I sold a watch the other day and now paypal says it must hold my money for at least 21 days?

WTF!!!
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      09-05-2012, 09:23 AM   #2
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Quote:
Originally Posted by 6spdg37s View Post
Ive been selling things on ebay for years and with a verified paypal account I was able to send the money to my checking account almost instantly.

All of a sudden I sold a watch the other day and now paypal says it must hold my money for at least 21 days?

WTF!!!
21? Something must be up.. there is no way that is right.
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      09-05-2012, 09:36 AM   #3
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Not sure what their policy on holding money is, but it's a brilliant idea on their part. How many millions upon millions of dollars worth of items gets exchanged on Ebay each day? If they hold the money for X number of days and deposit it in a short term CD they could be earning a ton of money off the interest (depending on the amounts deposited and rate they get) all while the sellers sit around waiting for their money.
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      09-05-2012, 09:55 AM   #4
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they be floatin those bills
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      09-05-2012, 09:55 AM   #5
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Quote:
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21? Something must be up.. there is no way that is right.
Agree, 21 days is waaaay too long. There are no US banking transactions that take that long to clear.

Was your buyer outside of the US?
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      09-05-2012, 09:58 AM   #6
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Don't ship until funds cleeeeear! Let buyer know what's going on.
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      09-05-2012, 10:24 AM   #7
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^+1

21days is not normal. Either your buyer was international, or there is something going on.
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      09-05-2012, 11:36 AM   #8
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Quote:
Originally Posted by bga23 View Post
Agree, 21 days is waaaay too long. There are no US banking transactions that take that long to clear.

Was your buyer outside of the US?
nope in NY state

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Originally Posted by BA335iS View Post
Don't ship until funds cleeeeear! Let buyer know what's going on.
its shipped cause paypal said once a tracking number is displayed it will be released quicker
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Originally Posted by N55 View Post
^+1

21days is not normal. Either your buyer was international, or there is something going on.
same thing on my gf's account with stuff but i figured cause hers was unverified. but mine is verified and been selling stuff on ebay for years with only positive feedback !

now that it was marked shipped and tracked and recieved by buyer , it says the money will be released friday sept 7th.

but usually in the past it releases instantly to your paypal account.
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      09-05-2012, 11:39 AM   #9
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Quote:
Originally Posted by Seminole View Post
Not sure what their policy on holding money is, but it's a brilliant idea on their part. How many millions upon millions of dollars worth of items gets exchanged on Ebay each day? If they hold the money for X number of days and deposit it in a short term CD they could be earning a ton of money off the interest (depending on the amounts deposited and rate they get) all while the sellers sit around waiting for their money.
There are certain restrictions on doing that per state because you are in essence acting like a bank.
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      09-05-2012, 12:14 PM   #10
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That is a little strange. It takes 3-4 days for it to go into my business checking once I transfer the funds. You actually scared me so I just double checked my account
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      09-05-2012, 03:39 PM   #11
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if the buyer leave positive feedback it should automatically be released
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      09-05-2012, 04:58 PM   #12
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It depends on the shipping you put and if you allow returns. They hold the money incase the buyer wants a refund. When you provide a tracking number and it's delivered the funds are usually released.
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      09-05-2012, 06:20 PM   #13
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21 days happened to me on ebay.com on ebay.uk it doesnt. dont know why, maybe because i was an international seller, but it took that long.
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      09-05-2012, 07:52 PM   #14
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This happened to me about a year ago. They changed some status relating to my account and held ALL transactions for 2 or 3 weeks.

I ended up calling and telling them how I felt about it. Everything went back to normal several days later.


I think it had to do with the amount of international payments I was receiving at that point. I'd understand why they would want security, and it was a temporary thing on my end.
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      09-05-2012, 08:05 PM   #15
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Quote:
Originally Posted by yakev724 View Post
This happened to me about a year ago. They changed some status relating to my account and held ALL transactions for 2 or 3 weeks.

I ended up calling and telling them how I felt about it. Everything went back to normal several days later.


I think it had to do with the amount of international payments I was receiving at that point. I'd understand why they would want security, and it was a temporary thing on my end.
I am going to call and yell at them tomorrow as well then ... maybe threaten to not use them anymore? Its not like I have a business taht depends on it i just use it for casually selling items
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      09-05-2012, 08:47 PM   #16
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I am going to call and yell at them tomorrow as well then ... maybe threaten to not use them anymore? Its not like I have a business taht depends on it i just use it for casually selling items
You'll be better off if you're respectable and polite.... instead of being rude and threatening them
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      09-06-2012, 10:17 AM   #17
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Quote:
Originally Posted by yakev724 View Post
This happened to me about a year ago. They changed some status relating to my account and held ALL transactions for 2 or 3 weeks.

I ended up calling and telling them how I felt about it. Everything went back to normal several days later.


I think it had to do with the amount of international payments I was receiving at that point. I'd understand why they would want security, and it was a temporary thing on my end.
+1 Same thing with me. Except no international payments.

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You'll be better off if you're respectable and polite.... instead of being rude and threatening them
I was definitely not polite as I have had nothing but good feedback and they pull that crap. I just flat out told them I would stop using their business. They changed it the next day after telling me there was nothing they could do when I talked to them.

I still haven't used them again. So shady.
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      09-06-2012, 11:03 AM   #18
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Quote:
Originally Posted by Seminole View Post
Not sure what their policy on holding money is, but it's a brilliant idea on their part. How many millions upon millions of dollars worth of items gets exchanged on Ebay each day? If they hold the money for X number of days and deposit it in a short term CD they could be earning a ton of money off the interest (depending on the amounts deposited and rate they get) all while the sellers sit around waiting for their money.
Have you checked the LIBOR lately?
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      09-06-2012, 03:03 PM   #19
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      09-06-2012, 03:14 PM   #20
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on the phone with them now ....
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      09-06-2012, 06:15 PM   #21
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Just sold my car a few weeks ago, paypal had it all transferred in 4 days.
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      09-06-2012, 06:35 PM   #22
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Just sold my car a few weeks ago, paypal had it all transferred in 4 days.
they put a note on my account that allows money to be released instantly or something now .
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