21 DAY HOLD FINANCIAL SERVICE OMBUDSMAN WANTS TO HEAR FROM YOU

Having lodged a complaint against Pay Pal and Ebay in regards to illegally freezing funds and also referring the matter to the privacy commisioner.  The Financial Services Ombudsman also wants to hear about accounts where funds have been placed under the 21 day hold. Their office is anticipating an across board deluge of complaints and they wish to be advised of individual cases as believe this is a breach of law.

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@123angeleyes01 wrote:

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Sit Boo Boo, sit. Good dog. Woof.

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@4green2000 wrote:

@lyndal1838 wrote:

The figure being quoted is $1500 but I don't think there is any hard proof of this.   It is also unclear if it is for every complaint lodged or every successful complaint.

Whatever the amount it sure puts the wind up paypal and usually gets a result for the complainant.


I hope it is 1500 for every complaint.


Honestly, logic dictates that to be very unlikely.

 

Could you imagine if it really was the case that a company could be fined just because a consumer complained about said company? What kind of position would that put eBay sellers in? (I can just see eBay rubbing their hands together at the prospect - fees for negs defects). 

 

No, the company can (and should) be fined for proven wrong-doing on their part, but not just because of a complaint that accuses of wrong-doing.

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Anonymous
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Even if they dont get fined they will certainly start to p off the ombudsman, I am sure they do not want to spend their whole day on paypal complaints, eventually something will get done to stomp on this and the more complaints the more this will hasten the stomp. bump bump bump bump

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Re: 21 DAY HOLD FINANCIAL SERVICE OMBUDSMAN WANTS TO HEAR FROM YOU

Hi

I have been selling on ebay for 5 years or more but recently sold from an account that had only 9 sales recorded - my funds are frozen for the two items i sold after the new policy was introduced - bear with me 🙂 - so i am going to report them to ACCC or Fair Trading following the link posted above - so yeah - we shall see what happens. Funny cos i came on here after yelling long and loud at a poor ebay customer service person about ebay and paypal illegally holding my money - i asked if they would pay me interest on the money - my money - that lthey had sitting in their bank account earning interest for 21 days. I kept getting the same blurb so it was futile to argue with him. Very glad i came to this forum.

What i would like to know is - how many complaints does it take before the australian financial authorities stop them doing this? Surely they can't just keep treating it on a case by case basis.

I saw a similar outrage over the "enforcement" of Paypal as a method of payment a few years back - and look how things are now - it was ruled that they couldn't force people to pay via paypal and yet somehow now most people do - attrition methodology. I'm inclined to think there is something hidden behind all of this - some reason we haven't twigged to yet.'t

The cry always goes up - why isn't there an alternative - I am sure there could be if we all put our heads together! It was the same with Meetup and fees - where are the cluey, tech savvy but ideologically committed ppl hiding in all this?

 

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Here Comes Bumipty.

 

Here comes Bumpity.

 

Right down Bumpity Lane.

 

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Yes, it is $1,250 for every Successful Application which results in a Conviction by the Financial Services Ombudsman. They look at ALL complaintant Applications, and only pursue those that they believe they can win by 99%

 

ebay/paypal MUST PAY UPFRONT  before they (ebay/pp) can even get a word in.  Sock it to em'  Cat Mad

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Wow, that is good to know.

Might throw a few cases their way to see what happens.

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Re: 21 DAY HOLD FINANCIAL SERVICE OMBUDSMAN WANTS TO HEAR FROM YOU

You are welcome aps, you can download the forms from them online, and mail them into them. Just go to their web site address and lot's of info. there for you. Happy Xmas aps.

forgot to tell you, yes, they will notify you of receipt of your application, and then later if they will "take your case".
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