EBay/PayPal start holding payments from customers.

nRollo

Banned
Jan 11, 2002
10,460
0
0
I recently sold a video card on EBay, to my surprise, I get a notification:

"Your payment is being held, and will be held up to 21 days. Ship this merchandise immediately, a positive feedback from the buyer could hasten release of funds" or something to that effect.

So I look into it and Ebay has enacted a set of 4-5 rules wherein they can hold your money up to 21 days. Included are things like "Under 100 positive feedback" (I have 94-0-0 spanning 9 years- LOL) and "Risky category" (computer parts is one).

Here's what I think is going on:

They say "It's to make Ebay safer!".

I say "LOTS of transactions could fall into their criteria, and they want to use the money for short term investments to profit off of it"

I don't know if this is now random, or every transaction falls into this if it is filtered by their software.

I do know that when a guy robbed me, and admitted it to PayPal, last year PayPal wouldn't cancel his account. They said I need to work it out with him, so I know they don't give a rat's ass about anyone's safety.

Beware.
 

Tsaico

Platinum Member
Oct 21, 2000
2,669
0
0
Originally posted by: bsobel
How is holding payment the same as stealing?

Because they are telling you why it is being held. I deposited a check the other day at the ATM, and I was told they were going to hold the deposit for two days. I didn't think they were stealing my money.

So while I agree 21 days seems extreme, I don't think it is stealing, rather poor judgement and CS.
 

Baked

Lifer
Dec 28, 2004
36,052
17
81
I've canceled my eBay account after 8 years. Just not worth my time dealing w/ assholes and a company who doesn't give a fuck about its customers. Why do they even have customer service when it doesn't solve the problem. If I can solve the problem simply by showing up at the asshole's door for screwing me, I wouldn't have to call customer service in the 1st place, do I?
 

Adam8281

Platinum Member
May 28, 2003
2,181
0
76
Stealing and holding are on a continuum (for example, if eBay said they were going to hold your money for 35 years, I don't think any of us would have trouble calling that "stealing," even though it may be in some sense a "holding"), and this case seems to me to be in a fuzzy middle zone. "Reasonableness" is an important consideration, and I think it is reasonable for a bank, for example, to hold funds for a few days while your check clears. However, I'm not sure that it's so reasonable for eBay to hold funds for up to 21 days when a) they're not a party to the transaction, but a 3d party facilitator (unlike the bank, which is actually the party that loses if they give you cash for a check which ultimately doesn't clear); and b) it's likely that their real motivation is to profit off of short-term investments with your funds, not to protect the buyer.
 

DayLaPaul

Platinum Member
Apr 6, 2001
2,072
0
76
The only time I sell stuff on ebay is when I need money fast. I found out this policy the hard way when I sold my mixer for way under cost, then had to wait 2 weeks for them to release the funds since the jackass that bought it wouldn't leave feedback in a timely manner.

BTW, this policy isn't that new, apparently they've been doing it since early 08.
 

amdhunter

Lifer
May 19, 2003
23,332
249
106
Originally posted by: Baked
I've canceled my eBay account after 8 years. Just not worth my time dealing w/ assholes and a company who doesn't give a fuck about its customers. Why do they even have customer service when it doesn't solve the problem. If I can solve the problem simply by showing up at the asshole's door for screwing me, I wouldn't have to call customer service in the 1st place, do I?

Same here. I cancelled a few weeks ago. I don't feel like bothering with their nonsense.
 

amdskip

Lifer
Jan 6, 2001
22,530
13
81
I sure wish someone would come along with a better system than ebay/paypal and give them some competition.
 

Ns1

No Lifer
Jun 17, 2001
55,420
1,600
126
So conversely, when you get scammed, you can't bitch and whine about how paypal can't recover any funds cuz (the scammer) already dumped the money into the bank account


see how that goes?

 

runzwithsizorz

Diamond Member
Jan 24, 2002
3,497
14
76
Originally posted by: Adam8281
Stealing and holding are on a continuum (for example, if eBay said they were going to hold your money for 35 years, I don't think any of us would have trouble calling that "stealing," even though it may be in some sense a "holding"), and this case seems to me to be in a fuzzy middle zone. "Reasonableness" is an important consideration, and I think it is reasonable for a bank, for example, to hold funds for a few days while your check clears. However, I'm not sure that it's so reasonable for eBay to hold funds for up to 21 days when a) they're not a party to the transaction, but a 3d party facilitator (unlike the bank, which is actually the party that loses if they give you cash for a check which ultimately doesn't clear); and b) it's likely that their real motivation is to profit off of short-term investments with your funds, not to protect the buyer.



BINGO!! We have a winner
 

cubby1223

Lifer
May 24, 2004
13,518
42
86
Originally posted by: runzwithsizorz
Originally posted by: Adam8281
Stealing and holding are on a continuum (for example, if eBay said they were going to hold your money for 35 years, I don't think any of us would have trouble calling that "stealing," even though it may be in some sense a "holding"), and this case seems to me to be in a fuzzy middle zone. "Reasonableness" is an important consideration, and I think it is reasonable for a bank, for example, to hold funds for a few days while your check clears. However, I'm not sure that it's so reasonable for eBay to hold funds for up to 21 days when a) they're not a party to the transaction, but a 3d party facilitator (unlike the bank, which is actually the party that loses if they give you cash for a check which ultimately doesn't clear); and b) it's likely that their real motivation is to profit off of short-term investments with your funds, not to protect the buyer.



BINGO!! We have a winner

I doubt there is enough $$ in these "investments" to cover the cost of implementation & support. Hence we do not have a "winner".
 

Lifted

Diamond Member
Nov 30, 2004
5,748
2
0
Originally posted by: cubby1223
I doubt there is enough $$ in these "investments" to cover the cost of implementation & support. Hence we do not have a "winner".

Why? If they can maintain a balance of around $50M throughout the year, at 5-10% interest, that's some serious money for nothing other than changing the number of days your money is being held. Not much implementation & support involved. The number of users who may stop using ebay/paypal because of this is another story.
 

Ns1

No Lifer
Jun 17, 2001
55,420
1,600
126
Originally posted by: Lifted
Originally posted by: cubby1223
I doubt there is enough $$ in these "investments" to cover the cost of implementation & support. Hence we do not have a "winner".

Why? If they can maintain a balance of around $50M throughout the year, at 5-10% interest, that's some serious money for nothing other than changing the number of days your money is being held. Not much implementation & support involved. The number of users who may stop using ebay/paypal because of this is another story.

5-10% interest lol
 

nRollo

Banned
Jan 11, 2002
10,460
0
0
Originally posted by: ViviTheMage
Originally posted by: Desturel
Start? They've been doing this type of stuff for years.

yeah...afaik this has been going on for 3+ years.

It must be random then because I've sold things (mainly in "risky" (LOL) categories, and if I wasn't above 100 positives now, i wasn't then.

They are teh devil and teh suck. I bet they rotate it around users instead of a blanket application of the rules.

They have so many transactions going on they can probably skim millions for short term investments, without making everyone dump them. I bet if I sold something tomorrow I wouldn't get it again, but lots of other people will.

Eeeeeevillllll!