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In Reply to: RE: When did that happen? posted by TimeConstant on January 30, 2016 at 08:55:09
Over 8 years ago Paypal and Ebay were still trying to sort things out. Nowadays its much safer for the buyer. The money was not held in escrow back then. If you order anything through ebay its automatic. The seller will not get the money until the buyer releases it by acknowleging the item has been delivered AND that it is as described. I am not sure but I think this can also be done with private sellers and other auction sites like audiogn.
Any seller that wont adhere to the escrow protection using paypal is an instant "no sale" from me. I will pay the fee associated with this protection. When I sell something I insist on using it as well. It avoids 99% of possible issues with the exception of "assholeitis" which has no cure.
Follow Ups:
I am not sure where you are getting that PayPal holds money in an escrow account until the buyer releases it by acknowleging the itme as delivered and as described, but that is certainly not true. I sell many items on eBay and the money is available to me the seller as soon as it hits my PayPal account, I can transfer it to my bank account any time.
If the buyer contacts PayPal and opens an case against me, PayPal can either put a hold on the money if it is in my PayPal account or if the money is not there put a hold on my account, but PayPal is not the same as an escrow account and never has been.
If the seller is dishonest and they sell something for $10,000 and the buyer pays via PayPal, the seller can transfer the money to their bank account, close that bank account or move the money to another account and PayPal can't get at the money. I have heard of this happening, but have never seen it myself as either a buyer or seller. I don't know what PayPal does if this happens if they refund the money to the buyer and go after the seller or if they tell the seller they are out of luck.
There is no sure thing in the world and dishonest people will always figure out a way to work the system to get your money if they really want to.
Jeff
We're Burning Daylight
Then I must be insane. Because the last three items I sold that is exactly what happened. The item sold, the money was "paid" but not released to me until the buyer gave his OK.
I also must be hallucinating the thousands of posts on ebay forums and youtube videos complaining, discussing or advising how to get around the "paypal hold" or the "ebay hold."
I must be misreading the results when I Google "ebay holds your money" and discussions complaining about this practice have been posted since 2008.
Keep sending checks then. No skin off my ass.
Oh and I am never stupid enough to send a check for something I have purchased online from someone I have never met, that does not live anywhere near me. So who is the insane one.
We're Burning Daylight
Yup you are insane, I have never had to have a buyer release funds, never. A paypal or ebay hold are after the buyer files a complaint. You go on being insane, I have over 4,000 transactions on eBay and PayPal and never once has my money been held until the buyer gives his OK, never.
The only time PayPal holds your money are the following:
1. You're a new seller with PayPal. Once your identity is confirmed and you have built up a history of sales and happy customers, PayPal removes the holds.
2. You customers indicate issues about your selling performance. Peformance is based on your percentage of refunds, disputes and chargebacks compared to sales on your PayPal account. Working to prevent and resolve problems quickly will help you AVOID the delay in available funds.
3. There is a higher than average risk associated with your sales activity. Selling what PayPal considers high-risk items, like tickets, gift cards, computers, trave packages. Another example of high risk sales activity is a recent spike in sales or historical change in the average selling price or type of item being sold. High risk could also mean your account has suspicious account behavior or more likely to have disputes, claims, buyer chargeback or other reversals.
So in other words if you have a good record of selling, with few customer issues PayPal DOES NOT put a hold on your funds until the buyer gives his approval. I believe that most PayPal accounts fall into this category, but obviously your's does not so maybe you have some clean-up work to do.
Jeff
We're Burning Daylight
I may not have over 4000 transactions but I do have over 200 and a 100% positive feedback profile. So no clean up needed.
I love how you dont even acknowledge the proof i offered. 4000 transactions indicates a commercial account (maybe?) so that may be different. I know what I have experienced in the last year selling things like a pro-ject speed box and a 1969 road runner thumbwheel radio.
I actually made my initial post to try to help people not get fucked over. Thats the point. I will not reapond to anymore of this ridiculous tomfoolery. It helps no one and I refuse to feed the troll any more.
Good day.
If you are giving out wrong information you are not helping anyone, and you are giving out wrong information. And no I don't have a commerical account. The information I put in my last post is directly from the PayPal web-page, not from some guys talking on youtube. I am all for helping people from getting ripped off and using PayPal is better then mailing a check, but it is still not complete protection from getting ripped off. I am against giving people a false sense of security that payiing by PayPal will give them 100% protection, it does not.
Jeff
We're Burning Daylight
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