I thought I would let you all know Paypal no longer hold my funds on another ID I started about 6 weeks ago. On this ID everything is small or large letter with NO Tracking. Up until last Friday Paypal were holding my funds for 21 Days. I phoned them and asked for the funds to be released. They said have you a tracking number I said no and if they are not released I would be contacting the Financial Ombudsman to which they replied No need for that we will release your funds now. I told them if this happens again I will not be phoning Paypal to release the funds and that I will contact the Financial Ombudsman straight away. Today I sold 3 items and when I went to my Other paypal account which is joined to my New ID the funds were available. So it looks like they were good to their word.
Yeah once we opened a successful FOS case they have never held our funds again.
But first up on a phone call they refused to release depsite the fact that we operated two other long term problem-free selling IDs and two PayPal accounts. Perhaps they are getting a bit gun-shy of the FOS these days. Just the mention of them is maybe enuff to wake them up.
I've just submitted a complaint to the Financial Ombudsman. PayPal and Ebay have no legal right to place holds/freezes on anyones account's. Also the fact that you are not informed of this so called new policy when you are listing your items is nothing short of deception. I hope this results in a good outcome of no holds on my account ever again. I also hope they get fined by FOS by many people and stop this money grabbing practice. Our money is not for hedge funding and do we get to see any added money from interest in our accounts for the 21 days it's tied up for........no we don't...
