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FORUMS Marketplace & Market Info Market Watch 
Thread started 07 Jan 2009 (Wednesday) 20:51
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Paypal fund status "on hold-ship now"?

 
Scout7id
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Jan 07, 2009 21:35 |  #31

Samgoit wrote in post #7028489 (external link)
It's is based on value as well. I believe it's $100. I have less than 100 feedback. Recently, anything under 100 was not put on hold.

Yep. You're right.


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sandpiper
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Jan 07, 2009 21:52 |  #32

bobjames wrote in post #7028346 (external link)
Suppose I sell a mint 50D for $900.
The buyer sends Paypal the money.
Paypal asks me to ship, funds being "on hold".
The buyer receives the camera in perfect condition.
However, he notifies Paypal/eBay that the camera is defective, or that there was a rock in the box and no camera, or some other story.
Will Paypal refund his money? Will Paypal wait until he ships the camera/rock back to me and shows proof of shipment?
Sounds like I might be out $900 through this noble Paypal/eBay effort to protect the buyer.

It's not really any less safe than when funds are cleared straight into your account before you ship the item.

OK, so if they say they didn't receive the 50D, you won't get your $900 out of limbo. The old way, even though you had received the money, if the buyer complained that they didn't get the 50D Paypal would simply debit your account and take back the $900.

In either case though, so long as you followed Paypal rules and can show the tracking for the parcel and that it had been delivered you will be covered (erm, probably, you may need to argue your case a bit).

I have to say that with over a thousand sales on ebay, I have never yet had a problem with Paypal or had a single chargeback to contend with. It isn't a hundred percent safe, but what is? Even cash can be counterfeit.

Follow the rules and you are unlikely to lose money. Many who complain that Paypal took the money back didn't pay the extra for tracking on the parcel, so weren't covered by the seller protection schemes.




  
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dtsang
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Jan 07, 2009 21:53 |  #33

i just went thru this. i don't know what the variables are, but i am getting my money, albeit a few days late....




  
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iceman1
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Jan 07, 2009 21:58 |  #34

bobjames wrote in post #7028346 (external link)
Suppose I sell a mint 50D for $900.
The buyer sends Paypal the money.
Paypal asks me to ship, funds being "on hold".
The buyer receives the camera in perfect condition.
However, he notifies Paypal/eBay that the camera is defective, or that there was a rock in the box and no camera, or some other story.
Will Paypal refund his money? Will Paypal wait until he ships the camera/rock back to me and shows proof of shipment?
Sounds like I might be out $900 through this noble Paypal/eBay effort to protect the buyer.

Based on my experience a year or two ago, you would be out of luck and $900...I once sold a CPU that I could never get working in a couple different motherboards, so I sold it on eBay clearly stating I could not get it to work and also stating it was sold "as-is" with no refunds because of it. An eBayer bought it and couldn't get it to work. I even assisted him in troubleshooting it. So then the buyer demands a refund and files a complaint with PayPal stating I deliberately sold a defective item. I point PayPal to my auction description, but that apparently that means nothing to PayPal--PayPal jerked back my money to the buyer. This money was in my PayPal balance so PayPal didn't have any issues refunding the buyer. However, if my PayPal balance would have been empty, PayPal would have likely been breathing down my neck for the funds.

This system itsn't to protect the buyer, its to protect PayPal themselves so a credit card company isn't demanding money from them.


I have been on the other end of this too. I bought an item and the seller never shipped it, deregistered from eBay and all. I sent a complaint to PayPal to get my money back, but they basically said "no promisses, but we'll try." Several months later, I got a refund for under a dollar....the original item was $30+. I assume the seller was moving money around and a small amount was accidently put into thier balance whitch was automatically refunded to me. I guess this is where the new system comes in handy, but it sure is a pain for sellers,


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bobjames
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Jan 07, 2009 22:15 as a reply to  @ iceman1's post |  #35

Never keep any money in your Paypal account.




  
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sandpiper
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Jan 07, 2009 22:28 |  #36

bobjames wrote in post #7028766 (external link)
Never keep any money in your Paypal account.

That would only work if you also close down the bank account and credit card(s) they have on file. They can take the money from your bank, just as they do when you buy something and don't have sufficient in your paypal balance to cover it.




  
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bobjames
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Jan 07, 2009 22:39 |  #37

sandpiper wrote in post #7028857 (external link)
That would only work if you also close down the bank account and credit card(s) they have on file. They can take the money from your bank, just as they do when you buy something and don't have sufficient in your paypal balance to cover it.

I keep a zero balance in my Paypal account and $15 in my linked bank account. Can they charge my credit card without my authorization?




  
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dan ­ j
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Jan 07, 2009 22:49 |  #38

sandpiper wrote in post #7028857 (external link)
That would only work if you also close down the bank account and credit card(s) they have on file. They can take the money from your bank, just as they do when you buy something and don't have sufficient in your paypal balance to cover it.

Just because they have the numbers doesn't mean they can remove money from a separate bank account.

dan


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bobjames
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Jan 07, 2009 22:49 |  #39

[QUOTE=sandpiper;70286​09]

OK, so if they say they didn't receive the 50D, you won't get your $900 out of limbo. The old way, even though you had received the money, if the buyer complained that they didn't get the 50D Paypal would simply debit your account and take back the $900.


The old way, if I showed proof of shipment, Paypal would rule against the buyer, not the seller.

I once bought a PDA which was badly mis-represented, Paypal would not give me a refund because there was proof of shipment. I finally got my money back through a credit card chargeback.

Always use a credit card with Paypal (and not Paypal's card!).




  
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dan ­ j
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Jan 07, 2009 22:52 |  #40

Heck, if Paypal could take money whenever they deemed fit, then why wouldn't everyone else? Folks pay their credit card bills, mortgages and utilities with bank transfers. If any of those companies could take money out at their will, they would.

dan


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quack332002
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Jan 07, 2009 23:11 |  #41

Thanks guys for all your insights. I went ahead and sent the package trusting ebay/paypal/buyer. Let me be the guinea pig. I'll let you all know how this turns out. Once again, thank you!


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bps
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Jan 08, 2009 00:22 |  #42

bobjames wrote in post #7028294 (external link)
Are Paypal/eBay paying interest on the 21 days???

I know that PayPal/Ebay is doing this for consumer protection, but they are also making a killing on this too. Imagine the total amount of money that's in escrow. We're talking tens of millions if not hundreds of millions. And all of it is a free loan...

Bryan


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DaveL
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Jan 08, 2009 04:26 as a reply to  @ bps's post |  #43

To The OP:

Instead of waiting 21 days or until the buyer leaves feedback
you can get paypal to release funds as soon as it gets delivered.


1. Ship the item using some kind of tracking method (USPS delivery confirmation,
UPS, fedex). For me, if it's over say $50, I always use insurance and signature
confirmation. This protects YOU as much as the buyer...

2. Enter the tracking and carrier in "Details" on your paypal summary page.

3. When it gets delivered, call paypal customer service, (the 800 number is
displayed when you log in) refer them to the tracking for that item, when
they confirm it's been delivered, they will release the funds. It literally
takes 2 minutes.


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patrick835
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Jan 08, 2009 10:50 |  #44

i had to wait 21 days even when i received feedback. their system sucks...


1D mk II + sigma 10-22 + 100f/2.8 + 70-200/f4L + f/2.8L IS II+ tamron AF 2x + 430EX II
[COLOR=darkgreen] 2x Canon 30D + 2x BG-E2N + 18-55 kit + 50mm f/1.8 II + 85 f/1.8 + 100mm Macro + 70-200f/4L + 17-40f/4L + 430EX + 580 EX II + RRS L plate + Markin Q3 + Gitzo G2220
completely broke :lol:

  
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quack332002
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Jan 08, 2009 23:31 |  #45

DaveL wrote in post #7030272 (external link)
To The OP:

Instead of waiting 21 days or until the buyer leaves feedback
you can get paypal to release funds as soon as it gets delivered.


1. Ship the item using some kind of tracking method (USPS delivery confirmation,
UPS, fedex). For me, if it's over say $50, I always use insurance and signature
confirmation. This protects YOU as much as the buyer...

2. Enter the tracking and carrier in "Details" on your paypal summary page.

3. When it gets delivered, call paypal customer service, (the 800 number is
displayed when you log in) refer them to the tracking for that item, when
they confirm it's been delivered, they will release the funds. It literally
takes 2 minutes.

Thanks Dave. I sent the package out last night but USPS still shows no info of item being sent. I'll wait until tomorrow to see if snail mail has updated their website. Once it shows that package has been delivered, I'll give paypal a call. Thanks!


7Dm2, XT, kit lens, Tam 17-50 f/2.8 non-VC, 430ex

  
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Paypal fund status "on hold-ship now"?
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