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 | OT: PayPal Can Hold Your Mony for 21 Days |  |  |  |
02-28-2008, 09:26 AM
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| Senior Member Rep Power: 38797    Posts: 609 Join Date: Jan 2007 |  OT: PayPal Can Hold Your Mony for 21 Days Read this on the Consumerist. Thought it might be interesting to those of you who use the service to buy and sell pool related equipment. |
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02-28-2008, 09:51 AM
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| Senior Member Rep Power: 38797 Posts: 609 Join Date: Jan 2007 | "PayPal will start holding certain deposits for up to 21 days if PayPal considers the transaction "high risk." PayPal earns interest on any money it holds—and it's perfectly legal because PayPal is a deposit broker and not a bank. " |
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02-28-2008, 11:01 AM
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| Senior Member Rep Power: 95985  Posts: 1,633 Join Date: Jan 2007 Location: Boston Area | Quote:
__________________ Better to wear out, than to rust out. Age: I remember phones without dials or buttons. Location: MA (home) / NH (workweek) "It's never too late to be what you might have been." - George Eliot "The urge to struggle lies latent in everyone." - Roger Bannister, The Four Minute Mile "To die is nothing, but it is terrible not to live." - Victor Hugo, Les Miserables | |
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02-28-2008, 11:18 AM
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| Senior Member Rep Power: 46737  Posts: 842 Join Date: Jul 2006 Location: PA | I don't have much internet time at work so I haven't checked out the link but IIRC, this was one of the reasons sellers were boycotting ebay. The last that I read, it didn't even have to be a "high risk" transaction. Paypal could & most likely would hold the money for 21 days, and the seller was supposed to go ahead and ship the item. They were going to have to pay out of pocket to ship items to buyers because the money the buyer paid for shipping wouldn't be released to the seller for 21 days. Between that & the fact that sellers can't leave negative feedback but buyers can, is why there's a boycott.
__________________ Got a dry, sarcastic sense of humor and not afraid to show it? Check out these clever and witty (not to be confused with "whitty") sarcastic pool shirts. YOU LOVE THE BLOGS, NOW YOU'LL LOVE THE SHIRTS! OMGWTF sarcastic pool t-shirts |
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02-28-2008, 11:43 AM
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| Senior Member Rep Power: 95985 Posts: 1,633 Join Date: Jan 2007 Location: Boston Area |
__________________ Better to wear out, than to rust out. Age: I remember phones without dials or buttons. Location: MA (home) / NH (workweek) "It's never too late to be what you might have been." - George Eliot "The urge to struggle lies latent in everyone." - Roger Bannister, The Four Minute Mile "To die is nothing, but it is terrible not to live." - Victor Hugo, Les Miserables |
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02-28-2008, 11:47 AM
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| Senior Member Rep Power: 3253  Posts: 367 Join Date: Nov 2007 | Does anyone here have any regrets using Paypal? Is it simply providing a credit card number? So far, The Woim has yet to try this service. However, there's a clothier who specializes in retro-custom productions who only accepts paypal so sooner or later I'm going to test the water. Your's Truly, The Woim |
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| My Thoughts on Paypal | | | |
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02-28-2008, 11:49 AM
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| Member Rep Power: 4337  Posts: 47 Join Date: Feb 2008 Location: Just east of Atlanta, GA |  My Thoughts on Paypal I really think the holds may be on some bank transfers if they have had problems before - now the account is high risk... Also so many scams out there that the unverified members may face a problem - I can see that! I've only had one charge back through them and it was for some clothing I had listed on Ebay - I felt if this person needed that $18 (or clothing) that bad, I just let it go. All and all, Paypal is very reliable, safe and speedy way to complete a transaction. |
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02-28-2008, 01:13 PM
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| Senior Member Rep Power: 38797 Posts: 609 Join Date: Jan 2007 | well here's a story on how you, as the seller, really have no course of action if the buyer says the goods aren't what you say they are and "returns" them. seller-gets-scammed-on-ebay-despite-doing-everything-right "The real lesson here is that, as a seller, you can absolutely positively get screwed selling something. All a scammer has to do is set up an account, buy some cheap things to rack up some positive feedback (if they want), and then claim you sent him a rock. At that point, unless you used an escrow service, you are screwed. " and the ebay boycott has a lot to do with the change in pricing. they made it more expensive for people who have "stores" on ebay to do business. |
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02-28-2008, 08:54 PM
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| Senior Member Rep Power: 409 Posts: 111 Join Date: Dec 2007 Location: West Chester, PA | In my experience, the buyer might not have it any better. I filed a claim for a non-working computer part and listed the relevant details, then got a reply saying that they needed the details  within 72 hours. As I was responding to that note (about twelve hours after they sent it), I got a second PayPal note saying my claim was closed because I hadn't replied within 72 hours. Yes, you read that right. I demanded that they reopen the claim and give it due attention, and they responded that I didn't satisfactorily prove that the item was different from how it was advertised. Had they bothered to read the auction page, they would have seen the words "in working order" - especially since I pointed it out in my original message. |
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