Financial Obudsman Service & Paypal releasing funds - best way of doing it?

[berrmamdarre]

I posted a thread recently asking about this as I'm only new again on here after a long, long break, but have been lurking the boards for a while before actually selling.

I was looking at ways to increase my selling limits as I do have an old ID with all positive feedback (except 1 neg) from selling over a period of maybe 4 or so years. But long story short is that email (and everything with it) was hacked (hotmail acct) and it was impossible to get hotmail to actially verify things and allow me access to it, so in the end I just gave up and thankfully my ebay acct wasn't actually used, though it did become NARU as yep, all details had been changed so was lucky that whoever hacked it decided to not actually use my acct for anything dodgy, but nor could I access ebay and pay selling fees due. 

So realistically I know the chances of being able to confirm that account for ebay are non-existent as I started tha ID way back in about 2004, so yep, it's been a loooong time.

So for now I guess I'm stuck with the current selling limits - and how long roughly until they do look at increasing it? It is time wise or feedback wise?

But main thing I wanted to ask is naturally about the joys of Paypal and their 21 day hold as other's weren't too sure but I remembered seeing threads when it first started about dealing with getting them released.

So have finally search up a few old threads about it as I used to work for a bank, so do actually know that from a legal perspective, they can't hold funds - I just couldn't remember how people had them released.

I've meaning to call the FOS all week but school holiday's and all that, and I just haven't had time. So since hubby is home today (and realised he'd need to call anyway as acct is in his name as I've linked it to his credit card) and funds are pending as usual (yup, tracking etc have been uploaded both on ebay and Paypal) and decided to get him to follow up on it as a) it's a tight week financially and b) a sale of certain kids shoes I have been waiting on for my girls for summer started today and are selling fast, and being a shoe addict with 4 kids means I want to buy shoes lol. 

Yes, I sadly sell on ebay to feed my shoe addiction lol. Besides, kids leather shoes are so damn expensive and when the pairs (including school shoes) are selling at like $12 a pair then heck yes, that's totally a valid excuse 🙂

So shoes are calling my name.....and hubby rings the FOS to find it's apparently a public holiday in Vic and they are closed! Arrgghh. Don't they know how important shoes are? Sheesh lol.

So my understanding from previous threads is that if you ring Paypal and state you have lodged a complaint with the FOS they release the funds within 24 hrs, and no more issues. My understanding from the banking side of things is that I know perfectly well they are not legally allowed to hold funds anyway (and FWIW in case anyone wants to know, hubby worked at the same bank but longer and higher up than me in the fraud section and has said to make it VERY clear that any financial institution can actually be fined for this very thing, and Paypal comes under that) but am curious to hear from anyone who has just had advice over the phone from the FOS and successfully went to Paypal with that?

I could do an online complaint but knowing how the FOS works it's something that you would get clarification about from them in reply, but will take up to 14 days.

So yes, I do know FOS will confirm that Paypal must release funds but am being a wee bit sneaky - is it worth calling Paypal and saying I have already spoken with them? And those who have gone via the 1800 number and got advice and successfully dealt with Paypal, what exactly did the FOS say and what did you need to say to Paypal? 

I do already know it's illegal without even calling the FOS due to where I worked but just saying that isn't going to get anywhere unless I DO mention the FOS as like any financial institution, they know they can get fined for this sort of thing and just the threat of an official complaint tends to make them listen.

So worth calling do you think, and if so, what to say?

And yes, regardless I will still do an online official complaint with the FOS (and would encourage others to do so) as others obviously are, and the more official complaints the better, as they are more likey to end up being fined and end up being forced to stop witholding funds, do so here - https://forms.fos.org.au/OnlineDispute

So any advice is much appreciated 🙂

[berrmamdarre]

Done!

Hubby rang them (figured he'd better do it as the acct was in his name) and spoke to someone then was put on hold, and suddenly the funds mysteriously cleared in my account after he confirmed the tracking numbers (I had forgotten to enter one on Paypal, had only done it on ebay).

But they are rather vague on future payments...hmmm. Hubby actually did the whole spiel about having worked for a bank (he worked at the same one as me) and the fact it was technically illegal, and apparently Paypal's legal team will call in the next 24 hrs to clarify future transactions....how odd. 

Has anyone else had that?

Oh, and the guy he spoke to said he'd had "a couple" of calls relating to the same thing. I wonder if their version of "a couple" is the same version of the "couple" of $$ they make when witholding what must be thousands (actually likely millions) of payments?

I'm happy - I can go buy some shoes now lol.

But will come back after we hear from their Legal team, I am very curious as to what they'll say!

[harley_babes_hoard]

couple of thousand

Curious also.