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PayPal Turns Funds Now to Funds Later

PayPal
PayPal Turns Funds Now to Funds Later

PayPal is ending its Funds Now program, launched in 2018, which allowed sellers to access money from their completed sales within seconds, even during a dispute – at no extra cost to them.

In a letter PayPal sent to an EcommerceBytes reader, it said the following in part:

“We hope that you enjoyed the benefits of the Funds Now program but, unfortunately, we regret to inform you that this program will cease within the next 60 days.

“PayPal appreciates your business and continues to design its products and services with you in mind. Our goal is to make sending and receiving payments simple and seamless. We are continuously evaluating the services we offer and have decided to retire Funds Now.

“However, the impact to your account should not change as long as you continue to maintain good account performance.”

PayPal also included some advice for sellers on how to avoid any potential payment disruptions in the future, such as avoiding buyer disputes, claims, and chargebacks (as though it were that easy) and resolve any that do occur quickly.

It advised sellers to process orders right away and use a shipping service that provides tracking and delivery confirmation.

You can find information about PayPal Funds Now on this page of the PayPal website.

Ina Steiner on EmailIna Steiner on LinkedinIna Steiner on Twitter
Ina Steiner
Ina Steiner
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). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.

2 thoughts on “PayPal Turns Funds Now to Funds Later”

  1. What is going to change now? That is not clear in the post or link. Is PayPal is going back to their “Your Funds Are On Hold Because…” method? Now Ebay will be emboldened to increase their holding of funds “Because…” also.

    PayPal got sued for this practice and threatened by quite a few States Attorneys General back in the day (Ebay owned PayPal during this time frame).

    You know, I smell a rat in this whole Mangled Payments/PayPal scheme – something’s going on between the two companies. If Ebay wanted to get into the money business like PayPal, why did they sell PayPal in the first place? Why not just buy PayPal back? Is Mangled Payments an attempt on Ebay’s part to make their company stronger so they can sell the whole thing (or that Hedge Fund bunch that bought Ebay’s stock can sell their holdings at a tremendous rate? Look what they did to Cabela’s and Bass).

  2. Drop the PayPal brain pretzel,
    and go back to checks and money orders.
    Always worked well, continues to work VERY well. …..
    The LYING Digital Money Fear Mongers interfere…..
    We can’t allow that……

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