Funds pending

[jhnprtc]

I've just sold my first irem on ebay, which the buyer has to collect from me. The buyer ( the highest bidder ) paid through paypal as soon as the auction finished, but paypal says I have to wait 15 days before the money is credited to my account. Why? And can I do anything to speed up the time until it is credited.

[kernowlass]

@jhnprtc

Never accept paypal for items that are for collection as you have no paypal seller protection.

Its the only time ebay allow you to put cash on collection only on your auctions and if the buyer pays with paypal you refund them and re-state cash on collection.

Then you have cash in hand and no paypal fees.

However as a new seller you are going through the new seller hold so as you have not said cash on collection you have to wait the full time for the funds to clear.

[jhnprtc]

Hi kernowiass,

Thanks for your reply.

I must say I find the whole process a bit confusing.  I did in fact ask for cash on collection in the description but in listing the item ,( a roofbox ), on ebay, it seemed impossible to untick the box stating that payment by paypal was acceptable. The buyer ( who has a good feedback record ), paid as soon as the auction finished, by paypal. We had a brief email exchange about collection which is unlikely to be for a week or so.

The sums of money involved are not great but I was a bit annoyed that paypal has deducted a small amount for payment in by the buyer, and also the payment pending for 21 days bit!

[kernowlass]

@jhnprtc

You can't untick the paypal box but what you can do is refund your buyer and ask for cash on collection as per auction terms.

Not sure what you mean about paypal deducting an amount from the buyers payment, paypal is not a charity and of course they charge a fee for their service !!

The 21 day thing is for new sellers, BUT you get the funds released more quickly if you send the item trackable. Then the funds are released when tracking shows delivery plus + 3 days. Of course you can't do that if the item is for collection so if you accept paypal you would have to wait the full 21 days.

[Barbie66]

The item I sold was for pick up only and the buyer paid thur their paypal, but picked it up before I received paymen; it's still pending after 1 week.  Can a buyer retract a paypal payment?

[lancelotme]

Yes,he can,because you have no way of proving the item has been delivered by showing the tracking number as delivered.

Paypal collects a small fee,I would guess your is 30 cents transaction and 2.9 % of the payment.

Paypal does not get to keep all,the bank which provides the merchant account to Paypal for accepting credit cards take a cut,with Paypal volume,I would say it would be 1 % or may be 1 1/2%.

Ebay rule is now with local pickup,payment would be cash or Paypal,a buyer can choose PAYPAL instead of cash.

What sellers do is that they will send a small thankyou note to the buyer with tracking ,so now if he  files item not received,there is tracking but it would cost you 2.45 dollars to do so.  

[lancelotme]

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@kernowlass wrote:

@jhnprtc

You can't untick the paypal box but what you can do is refund your buyer and ask for cash on collection as per auction terms.

Not sure what you mean about paypal deducting an amount from the buyers payment, paypal is not a charity and of course they charge a fee for their service !!

The 21 day thing is for new sellers, BUT you get the funds released more quickly if you send the item trackable. Then the funds are released when tracking shows delivery plus + 3 days. Of course you can't do that if the item is for collection so if you accept paypal you would have to wait the full 21 days.

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there is no such thing on Ebay as cash only,no cash only,no western union,no wiretransfer,no cashier check,no money order..

The only acceptable form of payment is either Paypal or your own merchant account to accept credit card.

[lancelotme]

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@jhnprtc wrote:

Hi kernowiass,

Thanks for your reply.

I must say I find the whole process a bit confusing.  I did in fact ask for cash on collection in the description but in listing the item ,( a roofbox ), on ebay, it seemed impossible to untick the box stating that payment by paypal was acceptable. The buyer ( who has a good feedback record ), paid as soon as the auction finished, by paypal. We had a brief email exchange about collection which is unlikely to be for a week or so.

The sums of money involved are not great but I was a bit annoyed that paypal has deducted a small amount for payment in by the buyer, and also the payment pending for 21 days bit!

---

You cannot untick PAYPAL -ebay rule has changed,you must offer PAYpal .

[lancelotme]

---

@kernowlass wrote:

@jhnprtc

Never accept paypal for items that are for collection as you have no paypal seller protection.

Its the only time ebay allow you to put cash on collection only on your auctions and if the buyer pays with paypal you refund them and re-state cash on collection.

Then you have cash in hand and no paypal fees.

However as a new seller you are going through the new seller hold so as you have not said cash on collection you have to wait the full time for the funds to clear.

---

I think for local pickup,seller would have to offer Paypal as well as cash on pickup,it has been in place last year !

what some sellers do is to send buyer a thank you note with tracking in case buyer files item not received,this may not be 100% proof as buyer can file item not as described.

[lancelotme]

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@jhnprtc wrote:

I've just sold my first irem on ebay, which the buyer has to collect from me. The buyer ( the highest bidder ) paid through paypal as soon as the auction finished, but paypal says I have to wait 15 days before the money is credited to my account. Why? And can I do anything to speed up the time until it is credited.

---

Since you are a new seller ,you have to build up your credibility ,there are just too many new sellers on internet.

Ebay /Paypal will release a small amount for shipping ,I think the max is $15,but you are opting for local pick up,so there is no shipping involved.