NEW SELLER ON EBAY ! HOW LONG WILL PAYPAL HOLD MY FUNDS FOR ?

[kimbobs]

I am a new seller on ebay and have just set up a paypal account to manage my transactions only to find that paypal are gonna hold my money because i am a new customer , why do they do this and how long will they hold my money for ?? some pls help 

[kernowlass]

@enchanting 

Ebay and Paypal are 2 separate companies and have 2 separate policies for holding funds for 'new sellers'.
If yours was an Ebay transaction then its an Ebay hold and Ebay authorise when paypal can release the funds.
Feedback does not count for payment release.

Normally for Ebays hold funds are released when tracking shows the item as delivered + 1 days (if you use Ebay / paypal postage).
Info in this Ebay link below about Ebays hold.
http://pages.ebay.com/seller-center/payments-and-fees/funds-availability.html

[lmcquillan]

My first buyer collected in person, therefore is the money still held for 21 days as I won't be able to evidence buyers receipt of the goods?

[mat_lat]

you will beable to provide proof of received good if the buyer leave you feedback, (witch should be enough to show they have the goods and are happy) therefor the money should be released.. *as i see it anyways, tho im nothing to do with paypal just posting on a few well here checking my own questions* 

[BakaOppai]

The part that gets me is holding the shipping cost. So i could be out of pocket for hundreds of dollars at a time and no recourse whatsoever to get my money back.  That's a bad system.

[supergsn]

Registered on eBay for 13 years, sold hundreds items before, but not sell anything for awhile
100% positive feedback
Suddenly my ebay' sells got hold for 21 days.
No money is my account, PayPal and eBay still charges fee,
I don't want deal this situation and click the refund, but ebay still charged my fees.

[kernowlass]

They are not held for 21 days ....that is only if you don't mark the item despatched etc.

It only lasts for 20 transactions and if you have not sold for ages then yes they consider you a new seller again....I had to go through it twice as well.....but didn't bother me as didn't last for long.

http://sellerupdate.ebay.co.uk/autumn2013/changes-payment-holds

[Drpeppy91]

Just an enquiry. Do you even have legal right to withhold money that's technically not yours? You are dealing with the money as if it is yours. I've never agreed that you can do this. In reality, you are protecting a buyer and not a seller who is the actual person giving you a revenue. Buyers have also eBay and PayPal protection for disputes and may also dispute with the banking organisation. In reality, you are not a bank. You are acting as my agent in receiving money on my behalf. You take your small percentage and I expect that you deliver my money promptly. Notwithstanding, postage charges is built into eBay transactions. You expect a new seller to go without the money they've charged for even postage and you are expecting us to go without in the short term. This is the most ridiculous and potentially unethical behaviour I have seen in a while. You should be investigated by the ACCC and OFT.

[kernowlass]

@Drpeppy91

If you are refering to me then no I have no legal right at all to hold your money.

But then that is because I have NOTHING to do with paypal.

But paypal does have a legal right and you agreed to the hold when you opened your paypal account and signed up to the user agreement.

PLUS paypals user agreement was approved by the FSA in the UK.

But if you don't agree with it then why not just close your paypal account, no one is forcing anyone to use one.

[Hrhvickysing]

Totally Agree!! How dare you keep money that has been sent in good faith by a buyer!! I won't be using this medium to sell again.

[Hrhvickysing]

Well said!! No rights whatsoever! I will never sell through PayPal again.