Paypal does not come into it, it is not an option for sellers

The box that has 'you have read and understood' has the information (which is why it is important to actually read it) it's not hidden (plus it is also eBay seller policy)

Not hidden, it is very clear

Payments on hold | eBay

But if you have not signed up to Managed Payments and been verified to sell, the hold will be a lot longer since the money has nowhere to go

Yes, eBay say it is sold, but eBay also expect sellers to meet their obligations as a seller 

If you want to be paid, you will need to sign up to Managed Payments and be verified to sell

For what you have already sold, after that, most likely you will need to contact eBay to sort it out I'm afraid and ask for a supervisor, explain you sold without being signed up etc 

Give them the link to this thread if you wish 

And end your two current listings until that is sorted because if they sell, that money will have nowhere to go either