|Sat Apr 17 2010 15:00:24|
PayPal Holds Seller Funds from Fulfilled Orders
By: Ina Steiner
To the Editor: |
I am wondering how many other PayPal customers, beside myself, are irate & frustrated with their new Rule regarding "holding funds"?
I decided to open a second eBay account a couple of months ago, and went through all the required procedures to do so. I then find out after doing so, and selling pretty well, that the funds from my sales have been put on hold for various reasons, such as my length of time on eBay and PayPal, etc.
I have been an eBay Seller since 1998, and a PayPal customer since their inception. I am a PowerSeller, with only 2 Negatives in 12 months, and have high DSR ratings. This apparently has no value or meaning to PP. I have both called & written to them, with a copy of their informational quote (below), & have been told that this information does not affect the new account, even though I pointed out that I am one & the same person:
PayPal direct quote:
"If you meet the following, you'll receive payments instantly in most cases:
* You have been an eBay and PayPal member for #-months or more, AND
* Your total Feedback score is ### or greater, AND
* Your Buyer dissatisfaction percentage is less than #% AND
* You are selling in a category or industry with an established history."
Does this make any sense? Is this legal? how about giving the Seller a % on using their "held" money? etc., etc.! How outrageous this is!! they are holding payments for items I have mailed to my customers, and they have received, as shown by USPS Delivery Confirmation info. What can be done to remedy this appalling action?
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