PayPal Question: Payment holds

Ron-P

I sold an amp on ebay. The money is on hold for 21 days, or less. So, what this means is I don't get the money until the buyer releases it....right? So I have to send my amp to this guy with no money in my hands. He gets the amp and the money. What would stop him for saying the amp doesn't work and files a complaint with PayPal. I don't get my money, he gets the amp.

I don't like this at all.

treitz3

Welcome to Flea-Prey.com.

anhchungdoan

Ron-P wrote: »

I sold an amp on ebay. The money is on hold for 21 days, or less. So, what this means is I don't get the money until the buyer releases it....right? So I have to send my amp to this guy with no money in my hands. He gets the amp and the money. What would stop him for saying the amp doesn't work and files a complaint with PayPal. I don't get my money, he gets the amp.

I don't like this at all.

You don't have to send your amp to the buyer 'till the funds is released from Paypal. It seems your buyer has insufficient funds or credit line so Paypal would not release the funds. If Paypal cannot process thru your buyer's CC or Bank card for full amount, Paypal will not have enough funds and they will not release the funds as an advance for your buyer. Check it out!

snow

Ron-P wrote: »

I sold an amp on ebay. The money is on hold for 21 days, or less. So, what this means is I don't get the money until the buyer releases it....right? So I have to send my amp to this guy with no money in my hands. He gets the amp and the money. What would stop him for saying the amp doesn't work and files a complaint with PayPal. I don't get my money, he gets the amp.

I don't like this at all.

Actually the buyer isnt holding your money PayPal is. If you can get the buyer to give you positive feedback PayPal will release the funds instantly, but until the buyer does that or 21 days goes by after you can show the amp was both shipped and received by the buyer it's on hold. If you do ship make certain you get a signature delivery not just that USPS UPS or FedEx delivered it to the address, and make sure it is fully insured for every dime.

Any electronic sale over $100.00 is now treated this way unless the seller has X amount of positive feedback under there new rating system.



REGARDS SNOW

kawizx9r

Ron-P wrote: »

I sold an amp on ebay. The money is on hold for 21 days, or less. So, what this means is I don't get the money until the buyer releases it....right? So I have to send my amp to this guy with no money in my hands. He gets the amp and the money. What would stop him for saying the amp doesn't work and files a complaint with PayPal. I don't get my money, he gets the amp.

I don't like this at all.

Hey Ron, it's a new thing ebay came out with. They do it to sellers that don't have alot of history selling items. The funds, as far as I know, are withdrawn from the buyers account. PP holds on to them (even after you send out the item) until either;
1. The buyer leaves feedback
2. Item has been delivered (confirmed by ebay/PP)

It's a **** I know, but I wouldn't worry much.

-Freddy

danger boy

doesn't seem right or fair.. is this like escrow? why is pay pal now doing this? I have heard of two people now who have had this happen to.

more and more.. Paypal seems to be getting worse and worse. THey must be owned by Epay or something.

kawizx9r

danger boy wrote: »

doesn't seem right or fair.. is this like escrow? why is pay pal now doing this? I have heard of two people now who have had this happen to.

more and more.. Paypal seems to be getting worse and worse. THey must be owned by Epay or something.

Last I heard, they are owned by them.

I don't mind it at all, it just sucks for anyone just now dealing with ebay/PP. Had my ebay accnt since Sept 04, and paypal since what 03/04?

Not a single thing I can complain about.

Ron-P

Thanks guys.

Any suggestions on what I should do? Ask the buyer to release the funds before I ship, or just ship and wait and hope I get the money?

kawizx9r

Ron-P wrote: »

Thanks guys.

Any suggestions on what I should do? Ask the buyer to release the funds before I ship, or just ship and wait and hope I get the money?

Ship using the provided shipping label, and make sure you keep a receipt of items sent out. The only way a seller can really protect himself is if he can provide proof (shipping label receipts/etc) that he sent an item to the buyer.

Like I said, don't worry too much about it. You won't get your funds for a few days, especially if the buyer doesn't leave feedback right away but you'll get them. Takes a day or so after an item has actually arrived for funds to process through.

snow

Ron-P wrote: »

Thanks guys.

Any suggestions on what I should do? Ask the buyer to release the funds before I ship, or just ship and wait and hope I get the money?

Well the buyer cant release the funds, PayPal has to do that. But as mentioned earlier if you can convince the buyer to leave you positive feedback before you ship PayPal will release the funds instantly. And as Kawizx9r mentioned as long as you can provide proof that the item was recieved/signed for by the buyer PayPal will release the funds even if the buyer never leaves feedback after 21 days.



REGARDS SNOW

treitz3

Both of which are **** up scenarios....

Ron-P

Sounds good. I'll ship the unit out using the provided shipping label from PayPal and have it require a signature.

messiah

Don't send the amp at all, and never use paypal again. Get a postal money order instead. **** Paypal, and Ebay too.

messiah

kawizx9r wrote: »

Last I heard, they are owned by them.

I don't mind it at all, it just sucks for anyone just now dealing with ebay/PP. Had my ebay accnt since Sept 04, and paypal since what 03/04?

Not a single thing I can complain about.

I can complain about a lot Freddy! I've had an account with ebay earlier than that (maybe 98), and they were decent. They have become greedy though, bought paypal so they can make an extra 3% off of every purchase, and no longer allow cash transactions because they don't get to make extra money off of that. F'm!

Ron-P

I'm going to contact the buyer first and ask that the funds be released or a money order sent.

The more I think about this the more I "should" get my money before I ship my items, that's the way it's always worked, and worked well for me. If the buyer doesn't like it, he can buy an amp elsewhere.

Ron-P

Email sent. I asked the buyer to release the funds, how, it's his gig. Or, send me a cashiers check. I'm not sending out my amp with no funds in my account.

messiah

And that's the way it should work Ron. If you buy anything from almost anyone, you provide them payment, and then they give you the goods. I just cant see why a 3rd party gets to cash in on your private transaction.

everpress

Ron-P wrote: »

Email sent. I asked the buyer to release the funds, how, it's his gig. Or, send me a cashiers check. I'm not sending out my amp with no funds in my account.

I know of one guy who was reported by a buyer for mentioning a money order. Mentioning one. Personally, I've never had an issue with PayPal, but I keep hearing about your guys' stories here, and I'm getting a little worried about it.

If eBay/PayPal can make good on protecting the seller (and not just using this "21 day hold" thing to gain interest on funds that are outside of the buyer/sellers hands) then I don't mind waiting a few days, even after I ship... But 21 days is a long time to be out what could be a significant amount of money for some of us.

Good luck, man.

w_coyote

This is why everything I purchase is done with a postal money order. Whatever I've purchased is paid for and the seller has their money too. Works great for both parties.

concealer404

Toxis, MrGlobe, and I all just dealt with this. It's pretty fun.

Good luck.

reeltrouble1

I am pretty sure a money order would of got to you in four days................., heck if you can wait 21 days you have a buyer in waiting.....

Hopefully the end of paypal is nearing, in fact, I am a bit suprised the real money brokers are letting them even get this small action.

RT1

heiney9

I have always been slightly on the side of PayPal in my buying/selling but I am now in a dispute with a seller about a bum tube. Ebay has been less than responsive and doesn't even bother to follow their own timelines they set up. Plus the very annoying thing is during this review process there is absolutely no contact information to find out what's going on or to follow up.

I have a few things I'd like to sell but I am very apprehensive now to use Ebay or Paypal because I'm not sure the $$$ is worth all the probable effort and hassle I could potentially run into. It didn't use to be that way with Ebay.

I am a teeny tiny bit sympathetic with my seller if even half the stories he's relayed to me are true about unscrupulous buyers making outrageous claims against him in order to force the seller to issue a refund or get into a long battle with the resolution center.

My days of buying/selling on Ebay are numbered because it's no longer an easy transaction and has a much greater potential to be a long drawn out nightmare. Still it's better than Craigslist

H9

Ron-P

I'm going to put my other amps up on audiogon, how's that site for selling? Anyone have experience with them?

heiney9

Ron-P wrote: »

I'm going to contact the buyer first and ask that the funds be released or a money order sent.

The more I think about this the more I "should" get my money before I ship my items, that's the way it's always worked, and worked well for me. If the buyer doesn't like it, he can buy an amp elsewhere.

Not necessarily defending Ebay/Paypal but you do realize they did this procedure to PROTECT you the seller and the buyer. It's an escrow and the buyer has nothing to do with releasing the funds or direction of the funds.

Paypal will release the funds when a) the seller leaves postive feedback b) when Ebay/Paypal can confirm the item was shipped and received within the 21 day time frame.

Yeah it does suck a bit, but if you want the convenience of using Ebay (basically giving you access to far more buyers/sellers than you could ever get locally) then you have to play by their rules. If it's too much of a hassle then pawn it or sell it to your neighbor.

Believe me I can sympathize with both sides, but if it weren't for Ebay I wouldn't have half the cool stuff I have simply because those items would never be available locally.

So yes there is some inconvenience involved but look at the final outcome you get a decent price for something you probably couldn't sell locally. On the flip side you get to buy stuff you normmally wouldn;t have access to locally.

H9

heiney9

Ron-P wrote: »

I'm going to put my other amps up on audiogon, how's that site for selling? Anyone have experience with them?

It can be the same, plus the fee's can be very high and you don;t have the protection Paypal offers for Ebay transactions.

Typically there are less idiots, but Audiogon has gone down hill also because there are just as many potential shisters there too!!!

H9

RuSsMaN

Club Polk is a great place to sell Adbombs Ron, plus the fees are swell too.

Ron-P

You have some valid points H9. Ebay is great for buying and selling and I've done both, quite a bit with no issues. Until now...

This does not "protect the seller". The way I see this is that it totally protects the buyer and leaves the seller in the dark. I should get my money up front, period and not have to wait for it. On the other hand, the buyers monies are on hold until "he" either leaves positive feedback or lets ebay/paypal know he's received the item. If he does neither then it's up to me to prove that I shipped the item to paypal/ebay.

I will continue to use ebay but only accept the following for payments; cashiers check, personal check (only shipping after the check has cleared) or money order. I won't use paypal any longer on items that would warrant holding monies. By the way, anyone have a listing on items they do this with?

Ron-P

RuSsMaN wrote: »

Club Polk is a great place to sell Adbombs Ron, plus the fees are swell too.

It's the first place I posted them for sale Rusty, wouldn't think of any other place to offer them up first.

heiney9

Yes Ron, Ebay has become more buyer friendly than seller friendly but the seller really holds all the cards because a seller can keep the buyers money and never send the item. I totally get what you're saying but think if the tables were flipped and you were the buyer. As a buyer I have more confidence that Ebay is looking out for me because traditionally a seller won't ship until they recieve verified payment.

But now I see the buyers taking advantage by filing ridiculous claims against the sellers in hopes of forcing a refund for an item they damaged or simply don;t want or negotiating a partial refund in lieu of leaving negative feedback.

The system certainly has its issues.

H9

Ron-P

I will say this for the buyer, he has 36 feedbacks and is rated at 100%, his email is also from a legit business that I looked up online. So, I'm guessing I'm fairly safe with this one. I'm going to go ahead with the shipping of the amp, but it will require a signature.

reeltrouble1

Gawd Ron you got it right the first time, ebay and paypal are not protecting anyone but themself and oh if they get to hold the cash for a while that is just fine with them, to believe otherwise is naivety and rationalization.

The Audigon has been good to me Ron. Personally I think its better than E-bay but you still may have Paypal issues if you go that route. Of course I am still hoping a couple of these babies are around next month.

RT1