# PayPal New Tricks



## Anonymous (Apr 28, 2010)

Thought I would share this with any new comers opening up a new account with eBay, which I recently did because of my shipping DSR's. You can not possibly ship from Canada South of the 49th and keep good ratings for shipping - IMPOSSIBLE.

After going through the hoops of setting up the new ebay account, they arbitrarily set the new ebay account to withdraw payments automatically from our Paypal account to cover sellers fees. I immediately logged into paypal and canceled the payment scheme. I almost had a canary when I saw that the limit eBay had chosen was $375,000.00. And that if the funds were not avaialble in Paypal backup funding would be used ie: Bank or Credit card. Not in this Life Time.

I list some 3 day auctions and sell some junk, from the 8 items sold 7 pay up immediately we print shipping labels from paypal and drop the packages into the mail. On my return from the Post Office which is conveniently located across the street form me buyer number 8 has paid up.

Paypal along with the payment has informed me they are holding the funds to insure the transaction goes smoothly - WTF- and that I should mail out the parcel ASP. Then they indicate that the funds maybe released sooner than the 21 days indicated. See attached PDF file, copy of the email sent by Paypal.

Since I'm not Santa Clause or a lending institution I'm not playing into this suggestion, I logged into Paypal and refunded the funds being held hostage.

Regards
Gill


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## Noxx (Apr 28, 2010)

I simply hate Paypal. I like the concept, but not the company...


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## Harold_V (Apr 28, 2010)

Gill knows how I feel about paypal. I am not about to allow them, or anyone, free run of my money, and control of my life. I see a dismal future for not only paypal, but ebay. Greed has consumed the bastards. 

Any way to open the PDF without saving?

Harold


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## Platinum (Apr 28, 2010)

Harold_V said:


> Gill knows how I feel about paypal. I am not about to allow them, or anyone, free run of my money, and control of my life. I see a dismal future for not only paypal, but ebay. Greed has consumed the bastards.
> 
> Any way to open the PDF without saving?
> 
> Harold



I posted it here Harold. http://www.scribd.com/doc/30627593/Hold-Funds


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## Harold_V (Apr 28, 2010)

Platinum said:


> Harold_V said:
> 
> 
> > Gill knows how I feel about paypal. I am not about to allow them, or anyone, free run of my money, and control of my life. I see a dismal future for not only paypal, but ebay. Greed has consumed the bastards.
> ...


Thanks, Ralph.

I read it. As far as I am concerned, paypal can put it where the sun doesn't shine. What an insult!

Harold


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## Oz (Apr 29, 2010)

That is funny in a twisted way. They hold your money for 21 days but they want you to ship it “right away” before you have a confirmed payment, then they “may" release the funds sooner.

Personally I think they are doing this pretending that they are just trying to protect buyers. At the end of the day E-Bay is just becoming bank-like. Ask yourself how much money they hold for 21 days on all E-Bay purchases globally and what interest they gain in that 21 day window "at no cost to them" as they "protect" their buyers. It is the fees these days that make the banks money, making far and beyond the earnings they get from loans. I dare you to ask your local bank manager. I recently made that comment to mine and he sheepishly agreed the bulk of profits was fees and penalties, not loan interest.

I also find it “funny that I have a holding time for a check to clear at a bank before it is credited to my account, as the transfer is near instantaneous electronically but they feel the need to earn interest for a few days before they release the funds. 

Sadly every large financial institution is barely staying alive by riding the float of funds as interest to them.


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## qst42know (Apr 29, 2010)

Oz said:


> That is funny in a twisted way. They hold your money for 21 days but they want you to ship it “right away” before you have a confirmed payment, then they “may" release the funds sooner.
> 
> Personally I think they are doing this pretending that they are just trying to protect buyers. At the end of the day E-Bay is just becoming bank-like. Ask yourself how much money they hold for 21 days on all E-Bay purchases globally and what interest they gain in that 21 day window "at no cost to them" as they "protect" their buyers. It is the fees these days that make the banks money, making far and beyond the earnings they get from loans. I dare you to ask your local bank manager. I recently made that comment to mine and he sheepishly agreed the bulk of profits was fees and penalties, not loan interest.
> 
> ...



I would suppose they hold plenty enough to cover the Paypal credit cards they issue. Entirely bank like.


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## jimdoc (Apr 29, 2010)

They are pushing their buy now pay later option with me.
Like I want to pay them interest.
They are acting like greedy bankers.
I agree they are just killing what was once pretty good.
I haven't sold anything on there in years, I will use Craigslist first.
Ebay tried, or maybe did buy a large stake in Craigslist.

Jim


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