Paypal Temporary Hold on Funds

[xSeongminx]

So, I just paid someone 120$ for an item but decided not to get it due to specific reasons. However, when the person refunded me, I got a message stating that Paypal had placed a temporary hold on the amount (120$) due to me paying with an Instant Funds transfer. It says that I will have to wait a few days until the hold is released, but after contacting my bank today, they said that the 120$ payment had left my checkings account this morning at 8:10. Now.. shouldn't paypal have released the fee by now or is paypal usually slow when it comes to giving up money... I have heard too many horror stories so please help me sleep well tonight!


Temporary Hold Information: This temporary hold was placed because your Direct Debit payment was denied, cancelled, or refunded.The funds from this payment cannot be released until they have arrived from your bank account, which usually takes 3-4 business days.

 

[Safeway]

It will go through, just give it time.

 

[aphex]

paypal has to wait for your funds to clear before giving them back to you....

 

[xSeongminx]

Just wondering but are you saying this out of experience? I honestly thank you for your quick response, I'm just trying to have someone that has gone through this give me their story.

Btw, I called my bank and they said that paypal had already taken the funds.

 

[KarenMarie]

it is a turn around time.

ok..let's just say that someone paid you by bank transfer into your paypal account. now, lets say that you transfered this balance from your paypal account to your bank account... it would take a few days to get there.

it is kinda like the same thing, but in reverse. there is a difference between current balance and available balance. just because one bank says that you deposited something, doesnt automatically mean that the other bank has cleared it.

 

[xSeongminx]

I get it. Well, it's good to know that I should be expecting my money some time soon. Thank you guys for your help and knowledge.

 

[dud]

... you are just suffering the Paypal Syndrome. Just one of the prices you pay for using them.

 

[xSeongminx]

Yah I am, in fact, any other comments are welcome about this situation. Btw, nothing can go wrong right?

 

[zoiks]

Paypal freezes the funds so that they can verify that they are indeed available. I guess its normal for them to do this since I had it happen to me a few days back for the first time. If I'm not mistaken, Paypal must have let you know the date they will release your money as well so you shouldnt worry until then.

 

[jpeyton]

PayPal sucks.

 

[mike2fix]

Yes, this is common practice with PP refunds, they do show you the date the funds will be available.

 

[DaWhim]

Originally posted by: mike2fix
Yes, this is common practice with PP refunds, they do show you the date the funds will be available.

/thread

 

[xSeongminx]

Uhhh, they arne't telling me jack squat.. I hate paypal but this is the only way to get money quickly.

 

[xSeongminx]

This is really pissing me off.

Original Transaction

Date Type Status Details Amount
Jun. 17, 2005 Payment To ActBuy.com Refunded Details -$120.00 USD

Related Transactions
Date Type Status Details Amount
Jun. 17, 2005 Transfer From Bank Account Completed Details $120.00 USD
Jun. 20, 2005 Refund From ActBuy.com Completed Details $120.00 USD
Jun. 20, 2005 Temporary Hold By PayPal Placed ... -$120.00 USD


--------------------------------------------------------------------------------



Name:
PayPal

--------------------------------------------------------------------------------



Total Amount:
-$120.00 USD

--------------------------------------------------------------------------------



Date:
Jun. 20, 2005
Time:
09:21:14 PDT
Status:
Placed

--------------------------------------------------------------------------------



Temporary Hold Information: This temporary hold was placed because your Direct Debit payment was denied, cancelled, or refunded.The funds from this payment cannot be released until they have arrived from your bank account, which usually takes 3-4 business days.

 

[DeadByDawn]

Originally posted by: xSeongminx
which usually takes 3-4 business days.

You read this part, right?

 

[HonkeyDonk]

jeez, you need to chill...it will be cleared...just give it time you impatient tard.

 

[BuckMaster]

hehehe

anyways

PayPal sucks.

what he said! Good Luck!

 

[FoBoT]

you have no option , make your time

 

[klah]

You should have used GooglePay.

 

[FoBoT]

Originally posted by: klah
You should have used GooglePay.

Online search-engine leader Google is preparing to introduce an electronic payment system later this year in a move that would pose a financial threat to one of its biggest advertisers, Internet auctioneer eBay.

The Wall Street Journal reported Google's plans on its Web site late yesterday, citing sources familiar with the Mountain View-based company's plans. The Journal did not provide any details about Google's strategy.

A Google spokesman declined to comment on the report.

The likelihood of Google rolling out an online payment system to rival eBay's popular PayPal service became a hot topic during an Internet conference hosted Thursday by Piper Jaffray.

"It could be a pretty big negative for eBay if it happens," said Piper Jaffray analyst Safa Rashtchy.

PayPal accounted for $233.1 million, or 23 percent, of eBay's revenue during the first quarter.

 

[xSeongminx]

I am an impatient tard when it comes down to paypal. Have you read any of the horror stories about how people lost money when they didn't do anything wrong at all? I'm assuming that you haven't.

When it says that it usually takes 3-4 business days, I thought that they were talking about the funds arriving from my checkings?

 

[xSeongminx]

Anyone?

 

[HonkeyDonk]

Originally posted by: xSeongminx
I am an impatient tard when it comes down to paypal. Have you read any of the horror stories about how people lost money when they didn't do anything wrong at all? I'm assuming that you haven't.

When it says that it usually takes 3-4 business days, I thought that they were talking about the funds arriving from my checkings?

first of all, yes I have heard many horror stories. Second, if you have done any kind of financial transactions in life, whether it is from bank accounts, CC's, savings, whatever....you know that it takes 3-4 days to transfer money one way. Sometimes it will be faster, sometimes not. But it takes a few days for the money to go one place, and another few days if it has to return to you.

Now stop bumping your own thread b/c you ain't gonna get your money any faster.

 

[RaiderJ]

Relax a bit! This doesn't sound like a potential Paypal horror story.

As for GooglePay - I would be behind that 100%. Paypal sucks

<-- ebay powerseller

 

[jpeyton]

Originally posted by: RaiderJ
Relax a bit! This doesn't sound like a potential Paypal horror story.

As for GooglePay - I would be behind that 100%. Paypal sucks

<-- ebay powerseller

Move to the greener pastures of a merchant account if you haven't already

Hopefully Google will come up with a more elegant way of dealing with fraud than PayPal's "lets create some loopholes for scammers and call it a Buyer Protection Policy".

Regardless, I would absolutely love to see PayPal finally squirm under competition. Imagine PayPal finally having to work for customer satisfaction because a viable and popular alternative exists.

Come out with it already Google, we're ready!