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Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.
Hey Paypal……Sleazy and no better than fleecebag. Funds now are available to account holders in good standing and may be withdrawn, modified or suspended at paypigs .discretion—EXCEPTIONS APPLY.
MEANS….We are doing Funds Now to our favorites and screw the little guy who needs his money now.
Holding funds for new sellers is a good idea. It prevents the hit and run brigade from doing just that.
Would you like to pay for a premium item and find that the seller cashed up and split while
you were watching the tracking on an empty box ?
Many people are not aware that PayPal, being licensed in many states as a Money Transfer Agent, may have statutory restrictions on how long they have to complete the transfer and make the funds available to their intended recipient. Regardless of language in PayPal’s UA, they are not permitted to violate any laws pertaining to restrictions upon the type of license they hold. Thus the holding of funds beyond the specified period could result in PayPal not being able to business within the state.