If Paypal Holds Your eBay Item Sale, It Means..
February 14, 2008 by Benson
Filed under Personal Finance
(Digital Money World) Since Paypal has introduced Safer Payment, which has given rights for Paypal to hold an eBay Item Sale money up to 21 days.. These might be the reasons that the money was held as Monroe Labouisse, director of Paypal’s business on eBay in N. America explains,
The bottom line is that established sellers with a good track record should not be concerned. PayPal will not hold payments for eBay items if sellers:
- Have been an eBay member for more than 6 months, and
- Have a total Feedback score greater than 100, and
- Have a buyer satisfaction percentage of 95% or better. OR
- Have an average Detailed Seller Rating greater than 4.5, and
- Have received more than 20 Detailed Seller Ratings in the last 12 months.
So if your payment is being held, PayPal will release the hold after 21 days.
For early release, following criteria must be met:
- The buyer leaves positive feedback on eBay, or
- PayPal can confirm delivery of the item.
To me it sounds like a good intiative to protect both the buyers and the sellers, but merchants who’re new and need the cash flow of the sale of item might be frustrated about the wait.
Exactly, this may not affect established sellers that much but I do hope ebay does NOT forget who built up their business - small sellers! They are effectively shooting themselves in the foot in my humble opinion.
This move will have the same effect as unions do on keeping out competition on the labor market. Too bad for the up-and-coming sellers who need faster cashflow.
I have been an ebay seller for years. I’m not a powerseller…just sell when I have extra items laying around or, when I see a good bargain where I’ll make some extra money. I’ve also been with PayPal for years and in good standing with both. But, recently I sold a camera and PayPal is holding my money for no good reason. I’ve written four times and have not received one response back from them. The buyer has received the camera and is very satisfied. In fact, he wrote positive feedback to prove it. SO, DON’T TELL ME THAT PAYPAL ONLY HOLDS MONEY FROM NEWBIES. THAT’S A LOAD OF CRAP! PayPal is out to make money off anyone…honest or not. It’s not right that they are able to hold mY money or anyone else’s!!!
Such actions from Paypal has actually allow their angry users to form a legion of anti Paypal group.
I’d see if there’s anyone that can give an answer to these problems by having an entry and getting someone from Paypal to look. Jacqueline, can I get the details of your incident?
yeah, wife and i both made accounts and sold some of our stuff to pay our power bill… yeah right, delivered, positive feedback….and nothing …..still on hold…….the policy is crap and when i get my money, I will spend it and never do business with ebay or paypal again