Paid - but funds not available for up to 21 days?

[jvdv11]

Hi - Sold an item on 4 November and the buyer paid through PayPal so the item was posted. Usually if there is to be a delay in the payment being processed eBay will advise you and tell you not to print the mailing label until the payment has cleared.

However when checking my PP account earlier there is a message telling me that the "the funds will be held for up to 21 days and will be available by 20/11/2017".

I had not used my account for about 12 months but have made other sales recently where the funds were available striaght away.

Anyone else had this experience?

[kopenhagen5]

It's usually if an account has been dormant for a while and/or if it's larger amounts.

The 21 day hold pertains to all new accounts now.

Funds can be released earlier if you upload tracking and it shows as delivered.

[clubesquire]

 Hi jvdv, we're fairly new and they did the same with us for 90 days. They don't withhold any more on Australian sales, but still withhold proceeds from anything we sell internationally.

I'm not sure if this applies to everyone, it's just our situation. I don't know why they still do it with us though. We have a perfect history from before, a perfect history on this account (which always has a sizeable balance), and a perfect history on another that goes way back to 2004, with a feedback of nearly 2,000, all of which transact through the one Payapal account.

I've been a bit lazy. I'll ring them soon. Sorry, can't help any further.

Melina.

PS....I imagine they're making more than just a few bob on short term money markets with what they withhold - just a guess!!

[kopenhagen5]

PS....I imagine they're making more than just a few bob on short term money markets with what they withhold - just a guess!!

Worldwide ?  It would be hundreds of millions.

Perhaps we should be buying PayPal shares. 

[*tippy*toes*]

What are these short term money markets that PayPal is making all this money from? They are often accused of such behaviour but no one has ever been able to tell what these short term money markets are that they are making an absolute fortune from at our expense. Could it just be fabrication by the foil hat wearers? If not, where is the evidence?

Clubesquire, congrats on getting your blue feedback star. It makes you look more professional than the yellow star.

[clubesquire]

Oh thank you Tippy. You know, I hadn't noticed. But yes, you're right. It's a bit like P Plates isn't it?

Short term investments? I really don't know, but I just imagine the amount of $$$$$ they hang onto and at some point it would become a relative constant for them. I can't imagine holding that sort of money in a bank at whatever the rate is at the moment. Why not - invest and capitalise on it. No proof - just thinking aloud. Yes, it hurts .... lol.

Melina.

[supermussolinibros]

i saw this response and thought it was some sort of joke-where are the markets?WHAT?

The short term money markets make up the nature of Paypal's business on the stock market, after all paypal are listed on the stock market-have a look at the stock market and it's right there.  I take it you have no uderstanding of stocks and the stock market with an answer like that-have you even heard of the stock market and stock markets?

Here's and answer from something called google  money.cnn.com/2008/02/26/smbusiness/paypal_float.fsb/       (it's a bit old but still applies to current situation)

the stock market is not a conspiracy from the foil hat wearers but a real entity.

[porcelain_dolls_by_me]

Short term money markets are financial markets, typically overnight to 7 days in term.  Corporate customers can place their surplus funds via there bankers into such markets, similarlybanks use these markets to lay off surplus funds over and above what they need to hold with CB's for statutory purposes.

PayPal and EBay will no doubt have arrangements with their bankers worldwide to "sweep" surplus funds from their operating accounts daily and place these funds into the onite market.

So yes, they are making a nice little income from the funds they are "holding" for "up to 21 days"

[snags-shark-teeth]

I have sold on ebay for over ten years and been in great standing seller wise.
Lately all my funds are being held by ebay and not paypal.
This is due to transaction defect rate.
Despite the fact I have satisfied all my customers, I have accidenly listed out of stock items.
The manner in which I cancelled and refunded the sell created a defect on my selling account.
Basically ebay want brilliant sellers and by holding funds they will get what they want.
This is the first time I have had funds held ever and I was told by ebay, keep selling, upload tracking and make sure transactions go through well and soon your funds will not longer be held.
Perform well and sell well.
Maybe your finds were held becuase you had not sold with in 12 months?
Ebay will tell you exactly why the funds are held.

[davewil1964]

The OP asked the question 8 months ago, so they have likely resolved the issue in the meantime.

YOUR issue is with your account standing falling because you kept cancelling sales due to no stock. Not very good from the buyers' point of view.

It is something we were all notified about when eBay instigated it, it is easily visible on your seller dashboard, so it was your responsibility to actually have the items you were listing. The hold is due to that. To ensure you are not scamming your buyers.

Before you ask - there have been plenty of cases of sellers deciding to leave and scamming buyers, disappearing and not delivering, having their accounts hijacked...