Paypals "New" 21 day $$$ freeze policy

[ashkanls]

I recently sold $1950 worth of stuff on eBay (8-10 items to different people). I always transfer the money from paypal account to my checking just in case I get hacked and I like to use my credit card for the rewards and to back me up if paypal pulls some crap.

Well the money is frozen from me for 21 days to ensure no one complains about delivery and issues. I called Paypal about it and they said this has always been going on it just finally is applying to everyone. In a business perspective understand why they are doing it BUT it is so unfair to people. I see people selling stuff to pay bills. Well those people now have to wait 21 days and then wait another 4 days for the transfer then they can pay their bill or whatever.

Is this happening to others?

What sucks is there are now alternative ways of paying on eBay without cash or money order!!!

Its like working 80 hours and getting paid every 2 weeks. Well now its like work 80 hours and wait 3 weeks after that to get paid. F'd up eBay and Paypal.

8/10/11 edit
Now my total is up to $3K. Its temporary but it sucks 8 ( that's not an eight). I told the Paypal rep: "You just worked 80 hours in 2 weeks. Im your boss, Im not going to pay you in 3 weeks just to make sure you dont quit on me. So now you have to work another 120 hours before you see your first check. Thanks for the work in advance." That hit home to her and said wow that does suck! No _____


PayPal balance: $1,945.57 USD Currency converter
Available balance in USD (primary): $0.00 USD
Pending balance: $1,945.57 USD
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[VS1976]

Is that the first time u sold stuff? There might be a 3-4 business day of transfer money from Paypal to your bank but never 3weeks.

 

[ashkanls]

Is that the first time u sold stuff? There might be a 3-4 business day of transfer money from Paypal to your bank but never 3weeks.

No I have 2121 feedback on ebay, not the first time. It is the first time they are freezing the $$.

 

[VS1976]

Hmmmm have you had many disputes over your transactions? I recently sold stuff and got the money instantly.

 

[Awesome]

The more transactions you do the better chance you have of getting funds frozen unless you have a merchant account.

 

[work13]

Hmmmm have you had many disputes over your transactions? I recently sold stuff and got the money instantly.

Usually they'll freeze your account if there is an issue with the buyer. You may want to check the resolution center if your account is getting frozen.

 

[ashkanls]

Its not frozen, the money is locked for 21 days. I can still use paypal and my selling or buying. I just cant use the money that comes in. They said they were going to do this to everyone. The Paypal rep said this.

 

[The_Iceman]

that sucks dude.

 

[BlitzOUT]

Thats ridiculous. I don't sell much over eBay but I can definetly understand how this would affect some people in a bad way. Maybe this only applies to power sellers?

 

[jye318]

never happen to me...I guess the among was too high?? I have no idea why....

 

[Rorywan]

Never happened to me either. Thats pretty strange if you have a good track record. Maybe call them and ask why you are been singled out?
Is it because of the amount of cash involved I wonder?

 

[HAPPYBOY]

Had the same thing happen to me about 6 months ago, it was the final straw for me. F* Ebay and Paypal. Only thing I do there now is buy stuff since the buyer has all of the rights and the seller has none.

 

[Sweet Rabbit]

I wouldn't use paypal if I didn't have to

 

[steveo]

I hope this is not a policy they are truely adopting. Like you stated, I am one of those people who is selling stuff to pay bills and waiting the four days is ridiculous, so waiting 24 days is out of the question! This hasn't happened to me yet, but if it does, it may be the end for me and paypal/ebay.

Sorry that this has happened to you. It does totally SUCK!

 

[spdh69]

paypal sucks dude, check it out: https://paypalsucks.com/newforums/

theres a whole lot of people angry with them lol

 

[ashkanls]

I talked to a rep. She knew what she was saying. Its a 35 day review. She said it can be for any number of reasons non of which sounded like it applied to me. If you sell cheap stuff then sell expensive stuff, if your new, if you have a lot of negatives in a quick time period, to many disputes, anything out of the ordinary, much more....... She kept rambling for 5 minutes.

All I care is that it is for 35 days and it will go back to normal. Atleast some of us know about it now. Dont be shocked if it happens to you.

 

[jonny88]

Is this waiting period only through Ebay?

I will be selling my collection soon. About $1,800 worth. I am worried about paypal freezing my money like this and screwing around. Guess when l advertise them on here l will sell them one at a time and wait to sell the next piece till after the money safely gets into my bank account.

 

[ashkanls]

Is this waiting period only through Ebay?

I will be selling my collection soon. About $1,800 worth. I am worried about paypal freezing my money like this and screwing around. Guess when l advertise them on here l will sell them one at a time and wait to sell the next piece till after the money safely gets into my bank account.

Its through paypal. I think mine was frozen over the fact I sent close to $2k in gift money..... She said it will happen randomly. Odds are it wont happen to you on your collection.

 

[piccolodaimaoh]

It's happening to me now. Since May 20th I have been selling figures from 30 years of toy collecting on Ebay and have made close to 10k before Ebay and Paypal charges to pay for a new car. In the last 2 weeks they started putting holds on some but not all of my funds. I read the "Why Did This Happen" explanation and none it applies to me other than I have sold too much in too short a time. I have 100% Feedback, all 5 star ratings and have been on Ebay since 1998. When it started happening all sorts of things ran thru my head like not only is Ebay/Paypal making money off the items I sell but also on the money I earn. It angers up the blood.

 

[Sskaaar]

I thought this 21 day policy only applies to new sellers with less than 100 feedback. And only way to get it released earlier is if you provide proof of it's been delivered or you get a positive feedback.

On a side note, anyone has a limit of selling on ebay? I got one and it's really annoying and frustrating because I want to list/sell more stuff. I have no idea why would they put that in. Don't they want to earn more money from all those fees so why prevent a seller to sell a lot of things?