@comcol wrote:
So is this how the so called managed payments scam actually works?
Buyer used paypal to purchase items but Ebay refuses to send the money to paypal but instead holds it in their own accounts for 24-48 hrs or longer earning interest from millions of dollars it receives every day and then you wait another 2-3 days or more for it to even turn up in your bank account.
Have you ever paid with something using a credit or debit card?
Ever looked at your bank account right after making the payment?
Ever notice that the payment you've sent is pending for a day or two?
Ever wondered why PayPal credited your account and made the funds available immediately when buyers paid using credit / debit cards, despite the same processing system where funds wouldn't just immediately transfer from bank to PayPal?
If you had ever read their T&Cs, you would know that they basically considered it an advance on money that would *probably* clear, and for all intents and purposes was still theirs until it did clear, lol. Then, sometimes it actually wouldn't and they'd take it back. eBay have at least guaranteed that funds which have a processing status will clear and be sent - no take-backsies like PayPal. 😅 (Buyer-initiated disputes notwithstanding).
Instant gratification - such a blessing and a curse 🤣
