Newbie seller doesnt understand paypal

[geishame]

Aarrgg ! A newbie seller is driving me insane,I won an item last week and paid via paypal on Dec 2nd. Today I get an email saying she has been waiting for the paypal to 'clear'. Now I realize tthat an echeque does take days to clear, but mine was not an echeque, it transferred instantly. She says she is now waiting until the paypal money clears in her bank account!!!!  I have tried over and over to explain that  she already has the money and doesnt have to keep me waiting while she puts it in her bank account , but she has now sent me an email "explaining' paypal to me!! She says that while it a good way of paying, it unfortunatley does take a long while", she also says " paypal is used as a method of transferring money to her account' and I now only have to wait another three days for it to show up in her bank account!!! This is ridiculous, another 3 days, plus the 5 working days to get in over from the east coast takes it to coming up 3 weeks for me to receive my item. Now I have tried patiently explaining what she is doing is not right but she is clearly not listening to me and is holding my item hostage!

[davewil1964]

Paypal charge you to receive money.

At least in the last 3 years they don't charge you to transfer money to your bank account, though this takes a couple of days. Okay until LAST year it cost you a whole $1 for amounts under $150. Huge indeed.

Once the money is in your Paypal account, you have the money. Making your buyers wait until the money hits your bank account smacks of bad business planning (can't post until you have the money) or scammish (won't have money in PP so won't have to pay if things go awry). Guess what......?

[calsof]

Well, I suppose I WAS replying to last year's question so refferring to fees that still existed then would have been ok...

hehehe

Thanks for clearing that up for me, davewil. And, yes, you are right.

[leader-of-the-band]

If PayPal go bust, you do your money

PayPal is not like a bank.  They do not have the same level of risk or exposure to losses that banks and credit unions have.  They undertake different financial activities.  They do not lend money.  When a buyer pays money through PayPal for an eBay item it is a case of money in / money out as the money goes to the seller (less fees)

PayPal's level of risk to loss stems mainly from having to fund refunds to buyers when a seller empties their account of funds OR making discretionary payments to buyers when sellers can prove posting (and they are even clamping down on this).  But that is what sellers pay fees for . . . . to help cover those losses.  Now I know that my PayPal fees on my transactions rarely go over a dollar, most are less than 50 cents, but when all the millions of fee amounts that are collected everyday from all round the world are added up then PayPal would be in a healthy financial position.

I don't believe that PayPal is at risk of going bust . . . . and I am prepared to put my money where my post is by leaving my not-insignifacant PayPal balance exactly where it is.  After all, PayPal is owned by eBay and their fees are three times as much as PayPal's on completed listings.  eBay would not let PayPal go bust.

[leader-of-the-band]

damn, I can't believe I just helped to keep and old thread going.

May this thread R.I.P.