So I made two test purchases, one for $10 of ETH and one for $50. Right after that I realized I accidentally did it as ACH and decided to sell and place a withdrawal to go back out once it settled. That's how ACHs work all find and dandy there, would lose a couple bucks on fees but my mistake. This equated to a total fund hold of $62.98. My primary crypto use involves transferring outside assets over and selling/transferring to my bank and wanted to see how buying worked, all was fine.
Two days later I send 3 transactions of ETH over and sell them throughout the day, one for 500, 1000, 1300. To my surprise, each of them has a hold on it when I go to transfer. $62.98. Now I expect one of these for sure, it hadn't been long enough for the ach to clear and it had by then just left my bank account but there were in total 4 of these: a $50.99, $10.99 and then the three identical $62.98 of which says those specifically are because of a payment that hadn't cleared. Outside of those two small buys I had no purchases or achs to clear and now we have $188 in holds for what.
So obviously its an error right, call and ask why. Very first rep tells me the ETH had a charge on it that hadn't yet cleared from the original owner. Thats what I was told, I know makes no sense. Got bounced around and was told the most insane reasons for the hold that I'm genuinely confused. Between being told that I purchased the ETH within paypal to being told it's purely coincidental and normal to have a payment hold on every transaction for that specific amount I'm losing my mind. Over the next couple days I see the original 62.98 clear and transfer out and YET my completely segregated funds still have their payment hold on them. No end in sight and have tried to escalate it to get a real answer to no avail.
This turned out to be way too long but I just have to share and wonder if anyone else has had this happen? Last rep I spoke with told me it was not uncommon and is "risk management to make sure paypal doesn't lose their money" in the way of a 4x holding fee.
