Paypal holding a payment

PP seems to be the biggest player in the market. This usually leads to BS like this.
Really glad you weren’t banking on this money to pay your mortgage with Chris.
Very aggravating is the way they handle this. Very little recourse available and there doesn’t seem to be any logical reason for them to hold funds.
Been happening more and more lately.
Hope this goes as easily as possible shinyedges shinyedges !
Joe
 
palonej said:
PP seems to be the biggest player in the market. This usually leads to BS like this.
Really glad you weren’t banking on this money to pay your mortgage with Chris.
Very aggravating is the way they handle this. Very little recourse available and there doesn’t seem to be any logical reason for them to hold funds.
Been happening more and more lately.
Hope this goes as easily as possible shinyedges shinyedges !
Joe
Click to expand...
Thanks joe, yea I don't count on funds from selling knives to pay bills. That's a poor decision but I'm sure it happens.

This ticks me because they deducted their fee instantly but found it necessary to hold my portion for the time they determined, without reason because by their own literature I don't fall into the things they listed. I agreed to their terms by using their service, I know that.
 
I have made many many transactions with Paypal and I have had this happen 1 time myself for seemingly no reason. I think it was a 14 day hold or something like that. I sent them an email asking what the hold was for, and the customer service agent that responded didn't know why and released my funds the next day. If I remember correctly the amount was like $700 if that makes any difference.
 
pretty crappy and rotten of paypal, but smart at the same time for them......think of all the cash that isnt theres across the world they are holding and using to make money on for themselves....... while you sit and wait for them to give you your money.

yeah id be pretty mad....it is your money.
 
shinyedges said:
This is a first to me, I sold a knife today and paypal is holding my $ for 21 days. It says if I provide a tracking # to them from usps, fedex, or ups they will release my money 3 days after delivery. Upon researching this a little, it appears this is most commonly done to ebay sellers, which is odd because I've never sold anything on ebay. I feel like I have no options and they are holding my money until they feel like releasing it.

Funny they took their fee immediately.

I think I'm done with paypal, any other services or ways to sell besides money order?
Click to expand...

Going thru the same thing. I had to escalate the issue with my bank. Funny thing is due to all of this. I received negative feedback for the whole incident. I would never use PayPal again! Sorry you're going thru this bud.
 
TheirProtector618 said:
Going thru the same thing. I had to escalate the issue with my bank. Funny thing is due to all of this. I received negative feedback for the whole incident. I would never use PayPal again! Sorry you're going thru this bud.
Click to expand...
Why would you get negative feedback due to PayPal putting a hold? You didn't send them the knife?
 
That's exactly my point. I sent the funds, well my wife actually did, but she sent via Echeck which prolonged the sale. I tried calling to cancel the transaction as to try again using F&F and they wouldn't. I had to call my bank to place a stop. I called my bank and paypal still went ahead and extracted the funds causing me to go negative and charged overdraft fees... They did this twice. I received negative feedback because the seller thought I flaked on him. And I still haven't received my money.
 
TheirProtector618 said:
That's exactly my point. I sent the funds, well my wife actually did, but she sent via Echeck which prolonged the sale. I tried calling to cancel the transaction as to try again using F&F and they wouldn't. I had to call my bank to place a stop. I called my bank and paypal still went ahead and extracted the funds causing me to go negative and charged overdraft fees... They did this twice. I received negative feedback because the seller thought I flaked on him. And I still haven't received my money.
Click to expand...
Oh didn't realize you were the buyer. OP' situation is different in that they put on hold on his withdrawing funds, although that is easily resolved by adding tracking information to the transaction so I'm still not sure the problem.
 
blanco112 said:
Oh didn't realize you were the buyer. OP' situation is different in that they put on hold on his withdrawing funds, although that is easily resolved by adding tracking information to the transaction so I'm still not sure the problem.
Click to expand...
I have a whole thread on this in Tech support. Indulge yourself if you'd like. It getting a bit Jurassic in there. Lol
 
blanco112 said:
Oh didn't realize you were the buyer. OP' situation is different in that they put on hold on his withdrawing funds, although that is easily resolved by adding tracking information to the transaction so I'm still not sure the problem.
Click to expand...
I added tracking info on Friday. Items should be delivered on monday. If I get my funds released 3 days after items are delivered it will be Thursday next week.


Not sure how you don't see a problem. For no reason I'm shorted several hundred dollars until what ever time frame they specify. I don't fall into the categories paypal lists for holds.
 
shinyedges said:
I added tracking info on Friday. Items should be delivered on monday. If I get my funds released 3 days after items are delivered it will be Thursday next week.


Not sure how you don't see a problem. For no reason I'm shorted several hundred dollars until what ever time frame they specify. I don't fall into the categories paypal lists for holds.
Click to expand...
PayPal explains on their page that they put holds to ensure if there is a claim or charge back that there are funds available. If the buyer isn't happy PayPal has to pay it back and collect from you, which is essentially an extension of credit and for this transaction (and likely the amount) they apparently don't want to risk being forced to extend you credit for the transaction. The reason I don't see it as a big deal is because if you add tracking information it won't take the full 21 days, it will be a week or so as you state. Keep in mind they are still taking risk on you even after the week goes by for up to 6 months during their protection period but they acknowledge the risk is much lower if three days after delivery the buyer hasn't complained.

Edit: if you feel your history with PayPal is sufficient and you routinely do transactions of this size and have several under your belt without issue you can always call and plead your case and they may change their mind. The initial decision was likely made by an algorithm.
 
blanco112 said:
PayPal explains on their page that they put holds to ensure if there is a claim or charge back that there are funds available. If the buyer isn't happy PayPal has to pay it back and collect from you, which is essentially an extension of credit and for this transaction (and likely the amount) they apparently don't want to risk being forced to extend you credit for the transaction. The reason I don't see it as a big deal is because if you add tracking information it won't take the full 21 days, it will be a week or so as you state. Keep in mind they are still taking risk on you even after the week goes by for up to 6 months during their protection period but they acknowledge the risk is much lower if three days after delivery the buyer hasn't complained.
Click to expand...
I sold 3 knives in 24hrs, one knife payment was held. The other two cleared normally. One of the other knIves that cleared was worth more money than the one being held.

What exactly was the logic on this? They didn't protect themselves in any of the other 60+ times I've received payment and never had a problem. They didn't protect themselves from the other two transactions in the same 24 hour period...

So why hold one payment randomly to protect themselves out of the blue? Please tell me how that makes sense.
 
shinyedges said:
I sold 3 knives in 24hrs, one knife payment was held. The other two cleared normally. One of the other knIves that cleared was worth more money than the one being held.

What exactly was the logic on this? They didn't protect themselves in any of the other 60+ times I've received payment and never had a problem. They didn't protect themselves from the other two transactions in the same 24 hour period...

So why hold one payment randomly to protect themselves out of the blue? Please tell me how that makes sense.
Click to expand...
I don't know all the details of your transactions, can't verify everything you say and don't work for PayPal, but as I stated this was almost certainly decided by a computer algorithm with a variety of rules that determine that if a certain set of circumstances exist a hold is placed. So it makes sense according to their decision tree. Like I said, if you disagree, talking to a real person can go a long way toward getting the funds released sooner. Situation is not ideal and I'm not saying but that would be what I would do.
 
blanco112 said:
I don't know all the details of your transactions, can't verify everything you say and don't work for PayPal, but as I stated this was almost certainly decided by a computer algorithm with a variety of rules that determine that if a certain set of circumstances exist a hold is placed. So it makes sense according to their decision tree. Like I said, if you disagree, talking to a real person can go a long way toward getting the funds released sooner. Situation is not ideal and I'm not saying but that would be what I would do.
Click to expand...
Roger that.
 
I think if they decided to hold my payment before I even shipped - I would just cancel the transaction and request another form of payment. A few million transactions like that and they might re-think that foolishness.
 
knifeswapper said:
I think if they decided to hold my payment before I even shipped - I would just cancel the transaction and request another form of payment. A few million transactions like that and they might re-think that foolishness.
Click to expand...
I should have. This has changed how I feel about paypal.

But if I had canceled the transaction the buyers funds may have been held in limbo? Hell, I have no idea.
 
shinyedges said:
I sold 3 knives in 24hrs, one knife payment was held. The other two cleared normally. One of the other knIves that cleared was worth more money than the one being held.

What exactly was the logic on this? They didn't protect themselves in any of the other 60+ times I've received payment and never had a problem. They didn't protect themselves from the other two transactions in the same 24 hour period...

So why hold one payment randomly to protect themselves out of the blue? Please tell me how that makes sense.
Click to expand...

Out of the 3 transactions, was the one with the funds being held the last to take place?
 
shinyedges said:
It was the 1st transaction.
Click to expand...

I was thinking that perhaps they saw a moderate user that had 3 high(ish) dollar transactions at the same time and that's why one was flagged and held. If so, I would imagine that the highest dollar amount or the last to take place would be chosen. Just spitballing here. I don't work for PayPal and probably use it less than most. Sucks though bro.

Have you tried to speak with customer service to get a reason from them?
 
benchwarmer380 said:
I was thinking that perhaps they saw a moderate user that had 3 high(ish) dollar transactions at the same time and that's why one was flagged and held. If so, I would imagine that the highest dollar amount or the last to take place would be chosen. Just spitballing here. I don't work for PayPal and probably use it less than most. Sucks though bro.

Have you tried to speak with customer service to get a reason from them?
Click to expand...
Yea, they chose the middle amount of $ and it was the first transaction. The logic eludes me.

I just called customer service and they have 25 to 37 minute wait, I opted for the call back instead of waiting on the line. I'll let everyone know what they say when they call back.
 
Last edited:
You must log in or register to reply here.
Back
Top