Paypal's pending balance policy.

I had this happen to me with one of my user id's and I raised hell to no avail. Even though I had 100% positive feedback, they said I had to have at least 100 (I had 99). So, after seeing this was going nowhere, I waited two days for the 100th positive feedback to hit my account, yet they still put a hold on the funds. Called them again and they said positive feedback wasn't enough, it had to be detailed seller ratings. Needless to say, I try not to use that id, as my other id meets their requirements. Although I can see where holding the funds in some cases may protect buyers and eBay/PayPal, it appears they're randomly applying this rule to trusted sellers, thus increasing their profits on the "float". CAN'T WAIT UNTIL THERE'S A VIABLE ALTERNATIVE TO EBAY/PAYPAL - I'LL BE THE FIRST ONE OUT OF THERE!!!

ANYONE INTERESTED IN PUTTING TOGETHER AN INVESTMENT GROUP FOR A STARTUP COMPETITOR TO EBAY/PAYPAL? WE JUST MAY BE ABLE TO PROVIDE A BETTER SERVICE AND MAKE A TON OF MONEY!

 

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I doubt there will really be a viable alternative soon. They have the original, they have many satisfied customers (buyers and sellers) and no real alternative has stepped up to provide real competition. Seriously, how much money do you think it would cost to set up a competitive sight and get people to switch?

 

Fourteen days is a long time to wait. I stopped selling for a while so I could refine my selling strategy. I guess when I get in a rhythm, I'll have to wait 21 days on something I just sold, but I'll also be getting money for something I sold 21 days ago, so it will work itself out. But if you're just selling something to get you through til next payday, you're screwed.

Another note, I just looked on the Paypal forum, and there are an awful lot of complaints about this in the last few days.

 

Your last statement makes me wonder if they are holding the funds to see how much flack they are going to get with this new policy if it is enforced. Maybe they are planning to roll out something new about a 3 week hold on all transactions for all new sellers with less than x amount of transactions. If they get less static than they think is harmful, you just might see that kind of new policy. Think about it this way, if they can hold millions of dollars in "new" seller transactions for a couple weeks and collect .00025% of interest on it, that is a whole new income stream for them. The way it is now, many of the ebay dealers I know are not really all that thrilled with the recent drop-off of traffic and lower amounts they are getting on their goods, so that tells me that ebay/paypall are also getting a little less dough, and what better way to get it than making noobs pay their dues, just a little more than they previously hammered the noobs....

 

Seriously, it could happen with enough small investors or a few large investors. Seriously, there's a lot of money to be made and investors like that. Seriously, it will happen if eBay/PayPal keep gouging. Seriously, it's happened throughout history - someone makes a better mouse trap, someone gets tired of being abused by a monopoly. Seriously, eBay/PayPal think like you, they're too big to be targeted. Of course before that happens, maybe we'll get lucky and the government will step in and break them up, as consumers simply don't benefit from a monopoly.

 

I didn't mean to rile you up that much, but I do doubt that a big percentage of the current ebay sellers will leave. People are lemmings and do the things they know and are comfortable with. I don't think I need to mention that if somebody actually did something to threaten them that they would most likely do some things to try to destroy/debilitate them before they became that big of a threat.

I think an actual alternative would be a good thing, as right now they just seem a bit to autocratic and pompous with their current methods, but too many businesses rely on them for cash flow, profits and livelyhood.

No hard feelings, just mentioning that it is very difficult and very expensive to knock the king off the top of the hill.

 

Like I said, it's happened before and can happen to eBay. I'd go as far as to predict it will happen to eBay. Dissatisfied sellers, pooled capital and large profits are powerful motivators. Sellers wouldn't have to leave eBay all at once, they could "wean" themselves off it slowly. You raise an interesting point. How many sellers are unhappy with Feebay? From what I hear, a lot of them. Hey, can the OP ad a poll to see how many are unhappy with Feebay and would leave if they could?

 

the real reason they do this is to stop the funds of illegal terrorist orgs from getting into the country to help with their dirty deeds..



just call and say "hey my funds are on hold, why?

if they give you a speech about needing + feedback, or confirmation numbers, ask for which customer names, and have a list of all the names with numbers. bam done.

 

Seriously, not riled up, just love to see an abusive monopoly get what's coming to it. Competitors could force them to clean it up. Or, if the right party is in power, our laws could be enforced to take care of abusive monopolies. I'd even say, dissatisfied sellers should write their congressional representatives, to encourage them to do something about that monopoly, Feebay. If you do write that letter, mention the oil companies, insurance companies, and military industry too.

One other point, 21 days in the financial world is an eternity. Heads would roll if one day's interest were lost.

So, tell me, which eBay office do you work in?

 

I would not consider it to be pushy as long as I was asked politely and they explained that it was so paypal would release the funds to them. I could very easily understand receiving such a request if paypal was not paying them.

 

I just got done looking at the paypal forum. There are at least ten threads complaining about this. One thread was started December 15 2009, and at last count, there were 1,846 comments on that thread alone.

Apparently I'm not the only one that is affected by this policy.

 

Peronally, I wouldn't get too fueled up on other peoples complaints. Have you called Paypal to inquire about the hold on your account? If its unwarranted on your account they need to hear of your disapproval through a prompt inquiry. Call them and let us know what they have to say about the hold action.

 

Pay-pal is a joke! Doing things like this put,s a big dent in the sellers
Cash flow, GMAFB!! I stopped using them when the got in bed with
E-bay!

 

Why should anyone give YOU a break just because you disagree with their policy? You made your decision to do business elsewhere. No need to curse about it here. PayPal/eBay are not a joke and you have nothing positive to say which is constructive to the OPs inquiry.

There are alternatives such as ebid.net but any such service will come with similar or unique policies which you must first agree with in order to do business through them.

 

I tried to think about this but gave up

My FeeBay account goes back over 10 years.

100% Pos with only one complaint from a person that got one 1909 from me.

I listed it as "Road Kill" and too bent to fit into a folder.

They gave feedback as "Not as described."

Today was the 1st time I had to grab the phone and spend an hour pushing buttons to finally getting a chance to say

AGENT

And got a person on the other end.

Got bounced about a bit as they DID try to figure out why my account was messed with, such that my account was Messed With (To Protect me because I had made a purchase, which they Protected me from)

by freezing my payments which included payments to themselves which caused me to be behind restitution to them!!!!!!

Now I am in Amazing Grace aWaiting Mode to see how this works out.

But must admit they are glad to know that they know they did it it to both concerned parties.

 

So many people ( especially sellers ) dislike Ebay, for diverse reasons, but still stay with it, because with all of the defects, there is no better alternative. And none likely in the near future. 5 years ago, it was a different story, they could have been had, but all who tried were not out to make things better for the buyer/seller, they were out to imitate or modify the model for their own financial gain. Ebay had to make the internal decision to strengthen the buyer side or the seller side. They knew that they could strengthen the seller side and lose the customers and fail, or they could strengthen the buyer side ( which I believe they have ) and the sellers would have to stay, because without buyers, they fail. Sellers may quit, but others will replace them. Many businesses have 30 day billing cycles of receivables/payables, so 21 days doesn't seem too much except for bullion, where remorse could set in after a sudden change in value.

IMO, Jim

 

Who,s cursing! Here again i wish to express my views and since i
Disagree with there policies you wish to throw me to the dogs
I guess but this is an opinion based forum and as long as iam
Apart of it, I will do just that!

For people who dont care what i have to say thats fine! there,s
Plenty other threads to respond to!

 

"Who,s cursing!"? YOU! :hammer:

Tell us, what does "GMAFB!!" stand for? and the polite version is just a ploy for another term, so I'm not buying that you're not cursing through that acronym.

"Opinion based forum" You think so lowly of anyone here who may be learned, accurate or objectionable in their responses? No rules apply to you do they? No one is right is what you are saying so we should all just shoot off misinformed opinions for the fun of it!..... Bahahahahahah! LOL! :mouth:

Rusty, put your opinions in the General Discussion forum if you must state them on CT, they are certainly your own and you are entitled to them, but you stick them up everywhere, and typically where they don't serve the point of the OP. Each thread you open isn't just another platform to state your harsh opinions in a sloppy, redundant and uninformative manner. One can't simply go to another thread which you haven't posted your 'opinions' all over or will eventually smear another thread with, often multiple times over the same thing without ever elaborating on them for anyone's benefit!

Your misinformed opinions had nothing to do with regards to the OP. NOTHING! No point. No help to the OP. Not an ounce of reasoning to back up your perspective, but you stole another moment to vent cursing eBay/PayPal and nothing more. This is just another thread in which you saw an opportunity to badmouth eBay/Paypal, like you have done in the past and did again recently over your impatience with service through the USPS. No one cares that you dislike eBay/PayPal, the USPS or whatever frustrates you this week... you bring it on yourself because you fail to understand that you can't "Have it your way®" for that you need to go to Burger King.

Maybe you can start your own carrier and e-payment services to lavish yourself and your exclusive customer base with premium low cost services... be sure to ask them for their feedback/opinions.

 

"GMAFB" Give me a fair break

I dont know what you were thinking it ment?

Maybe you have another version you wish to share?


As far as badmouthing e-bay and Pay-pal you bet!! all day and all night
Long, And yes i know what iam talking about was a dealer on there for
Several years, Its sounds like to me that your bay-pal lover there yours
To enjoy!!

 

This ^

It's amazing Meg Whitman may become governor of California, and maybe president of the US, because her sole platform is she made fleecebay what it is.

If her opponents would just ask the mega power sellers, or any sellers what they think of ebay customer service, Meg be lucky to get issued a pooper scooper, and a small municipal pick up truck.