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02-04-2020, 08:09 AM | #1 |
Senior Member
Join Date: Dec 2013
Location: Minnesota, Florida Keys
Posts: 10,312
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Apparent change to PayPal (for the worse)
To looks like PayPal just changed their procedure for handling balances without apparent notification. I have been selling a few condensers lately, mostly through PayPal. Last week, a couple went out to Sweden, after payment was received with no problem. This week, I sold one to Niagara Falls, NY. When payment showed up, it was in "HOLD" status. When I researched this (as much as I could), it looks like PayPal now does not release the payment to you until one day after confirmation of delivery.
I am sure they say that this is for security reasons, but think of the additional "float" they are getting. I just thought you sellers should know about this. |
02-04-2020, 09:12 AM | #2 |
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Join Date: May 2010
Location: Southern Illinois
Posts: 3,791
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Re: Apparent change to PayPal (for the worse)
Lately PayPal has notified me that I have a payment waiting and I have to "accept" the payment before funds are transferred.
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02-04-2020, 09:36 AM | #3 |
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Join Date: Nov 2012
Location: Wichita KS
Posts: 16,132
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Re: Apparent change to PayPal (for the worse)
PayPal favors the buyer, that is just the way it is setup.
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02-04-2020, 09:49 AM | #4 |
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Join Date: Dec 2013
Location: Minnesota, Florida Keys
Posts: 10,312
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Re: Apparent change to PayPal (for the worse)
Sethy, I've seen that, but have you gotten anything this week? They require you to enter the Shipper and tracking number before you can do anything. After you enter that information, only then do they notify you that your funds will be available one day after "Successful Completion of the Order".
It's a change I can live with, but I do not like they way they insidiously take more and more control of the situation. |
02-04-2020, 09:56 AM | #5 |
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Join Date: Jun 2017
Location: Carmel, Ca
Posts: 269
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Re: Apparent change to PayPal (for the worse)
Lets face it, it is because there are so many scammers, this is more protection for the buyer.
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02-04-2020, 10:19 AM | #6 | |
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Join Date: May 2010
Location: Southern Illinois
Posts: 3,791
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Re: Apparent change to PayPal (for the worse)
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Quote:
Thanks for the heads up though. I'll pay closer attention. The wife has me on home projects and I haven't done any V8 work. I did plumb a refrigerated air dryer into my compressed air system recently, got me back in the shop . |
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02-04-2020, 10:35 AM | #7 |
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Join Date: May 2010
Location: Ingleside,TX
Posts: 410
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Re: Apparent change to PayPal (for the worse)
...more good reasons for swap meets, where you can inspect parts before you buy them, pay the guy, or gal, and load them up and be done. Yeah, I know the downsides of going to swap meets, but between the selling and buying fees, shipping costs, etc., swap meets are fast becoming more attractive again, just my 2 cents...
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02-04-2020, 10:41 AM | #8 |
Senior Member
Join Date: Dec 2013
Location: Minnesota, Florida Keys
Posts: 10,312
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Re: Apparent change to PayPal (for the worse)
True about swap meets, but a goodly percentage of my sales are overseas, so it's not an alternative for me.
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02-04-2020, 11:08 AM | #9 |
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Join Date: May 2010
Location: Southern France
Posts: 5,305
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Re: Apparent change to PayPal (for the worse)
For me since last Sept I no longer have a PayPal cash acct.They decided this. Instead of opening a cash acct I accept the payment or transfer and transfer to my bank acct.Sold an item last week and it was processed the same way.I see that March 12 some policies will change.
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02-04-2020, 11:11 AM | #10 |
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Join Date: Jan 2011
Location: sw minnesota
Posts: 4,571
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Re: Apparent change to PayPal (for the worse)
i had paypal hold a payment for an item i purchased over two years ago. the seller said his money was on hold, i had never seen that before so i contacted pp. they said it was because they were waiting for me to be satisfied after it arrived ! the guy told me not to use "goods and services" if you want the payment to go thru immediately. i said i was just trying to be honest and get them they're share of the deal, but he insisted that i use "friends and family". so, had to cancel pmt and send another under FF. seller got paid, item got shipped. its happened twice actually, another last year.
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02-04-2020, 11:11 AM | #11 | |
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Join Date: May 2010
Location: Wisconsin, USA
Posts: 8,995
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Re: Apparent change to PayPal (for the worse)
Quote:
Too many folks advertise something for sale (often not there's to sell) get the funds, drain the account and move on to the next scam. This policy is a step in hindering those thieves. Heck, a friend of mine had a car of his listed a few years ago on eBay. $1000 deposit was required after sale. Problem was, his car was never for sale. Photos were taken at a local car show and posted.
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02-04-2020, 11:32 AM | #12 |
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Join Date: Apr 2015
Location: Sweden
Posts: 3,045
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Re: Apparent change to PayPal (for the worse)
Using Friends and family is instant and sender takes the fees...but you get absolutely zero chance to reclaim your money as buyer if there´s an issue.
So use friends for real friends...lol |
02-04-2020, 11:44 AM | #13 |
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Join Date: Nov 2012
Location: Wichita KS
Posts: 16,132
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Re: Apparent change to PayPal (for the worse)
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02-04-2020, 12:02 PM | #14 |
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Join Date: Jun 2010
Location: Detroit suburb, MI
Posts: 3,704
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Re: Apparent change to PayPal (for the worse)
My opinion is that it's because PayPal and EBAY are now partners. Maybe trying to address EBAY scam issues ?
Sal |
02-04-2020, 12:46 PM | #15 | |
Senior Member
Join Date: Apr 2015
Location: Sweden
Posts: 3,045
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Re: Apparent change to PayPal (for the worse)
Quote:
If it takes a week a banktransfer is faster...and no fees atleast within sweden... |
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02-04-2020, 06:35 PM | #16 |
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Join Date: Jan 2011
Location: sw minnesota
Posts: 4,571
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Re: Apparent change to PayPal (for the worse)
i have never had a hold on a friends n family deal.
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02-04-2020, 07:53 PM | #17 |
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Join Date: Nov 2012
Location: Wichita KS
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Re: Apparent change to PayPal (for the worse)
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02-04-2020, 08:05 PM | #18 |
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Join Date: May 2010
Location: MN
Posts: 7,053
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Re: Apparent change to PayPal (for the worse)
It might be a condition of the amount. It's best feature is the tax and fee free aspect. Probably good for things under $50. But I don't know for certain. Tubman, I guess it's the pain of doing retail. Win some, lose some. Write it into the cost... or since, I'm guessing, it maybe just helping guys out with something, then patience may be the ticket. I never get paid right away, net 30. . |
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