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EmptyCloset
Posts: 7
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 Posted: Thu Jun 02, 2016 7:53 am Post subject: PayPal Withholding Payment |
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Hi,
Can someone tell me whether or not PayPal withholds payment after selling an item on eCRATER as they do on ebay?
Thanks! |
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SheilaDeesPostcards
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| Posted: Thu Jun 02, 2016 8:00 am Post subject: |
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| I'm not sure I understand your question. Do you mean you have a newer PayPal account where they are holding your funds? If PayPal is holding your funds because you are new to PayPal, then I would assume they would hold the funds you receive from any source. If this doesn't answer your question, maybe you could add a little more information. |
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EmptyCloset
Posts: 7
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| Posted: Thu Jun 02, 2016 8:15 am Post subject: |
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| SheilaDeesPostcards wrote: | | I'm not sure I understand your question. Do you mean you have a newer PayPal account where they are holding your funds? If PayPal is holding your funds because you are new to PayPal, then I would assume they would hold the funds you receive from any source. If this doesn't answer your question, maybe you could add a little more information. |
Hi Sheila,
I have had my PayPal account since 2003. Had 100% positive feedback as a buyer and seller, above standard performance level. Had not sold on ebay in a while then started once again last December. They were withholding payment for 21 days or until the customer confirmed delivery. Mailed the item the day after the sale, it took five days to arrive but the post office tried to deliver three times and was about to return the item when the customer finally picked it up almost three weeks after delivery.
Could not locate any information on whether this policy was strictly for ebay or affected other online stores or auctions as I had read that it was ebay forcing this policy on PayPal.
Thanks for your input.
Regards,
~I~ |
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SheilaDeesPostcards
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Posts: 4619
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| Posted: Thu Jun 02, 2016 8:31 am Post subject: |
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I should have said Welcome to eCRATER, but since I didn't I want to say it now. You can also add Stripe to your store which will give your customers a choice. It appears to your customer as a store that accepts credit cards, Stripe acts as your merchant processor. Some customers only want to use PayPal, but some will use "anything but PayPal".
Seems I remember last year another seller who is a long time seller here opened a new store on eCRATER and PayPal placed the holds on her funds from the new store for a short time even though it was the same PayPal account. I don't think it lasted very long. |
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EmptyCloset
Posts: 7
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| Posted: Thu Jun 02, 2016 8:49 am Post subject: |
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Thanks for the welcome and the info Sheila.
I think I will call them as when I tried the email route...it was bizarre...they were just going around in circles even going as far as replying to a request from someone else applying for a PayPal card.  |
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trafficjammers
Posts: 275
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| Posted: Thu Jun 02, 2016 11:35 am Post subject: |
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no, it is not just ebay. they can do it to any paypal account at any time if they deem you to be high risk.
only way around it is to have an aged account with positive selling history. and if your account has been dormant for years and then you start selling again, they can hold payments until they see you are a solid seller again. |
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EmptyCloset
Posts: 7
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| Posted: Thu Jun 02, 2016 12:17 pm Post subject: |
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| trafficjammers wrote: | no, it is not just ebay. they can do it to any paypal account at any time if they deem you to be high risk.
only way around it is to have an aged account with positive selling history. and if your account has been dormant for years and then you start selling again, they can hold payments until they see you are a solid seller again. |
Thanks trafficjammers. So I gather that this means that any new sellers to any site using PayPal as a payment option has their funds held until PayPal sees fit to release them. Does stripe also do this?
In the good old days we used money orders to pay, it may have taken about a week longer to receive your item, however, it seemed to work better than PayPal. The buyer had the receipt and the seller got their money with none of PayPal's fees or butting in to transactions between buyer and seller.
I can understand the reasoning as there are many crooks about, although it is rather unfair that the honest people are lumped in with the crooks. A persons past record should account for something.
Perhaps I will go back to money orders. To me eTransfer would be a preferred option.
Slainte! |
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SheilaDeesPostcards
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| Posted: Thu Jun 02, 2016 12:52 pm Post subject: |
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| EmptyCloset wrote: | So I gather that this means that any new sellers to any site using PayPal as a payment option has their funds held until PayPal sees fit to release them. Does stripe also do this?
In the good old days we used money orders to pay, it may have taken about a week longer to receive your item, however, it seemed to work better than PayPal. The buyer had the receipt and the seller got their money with none of PayPal's fees or butting in to transactions between buyer and seller.
I can understand the reasoning as there are many crooks about, although it is rather unfair that the honest people are lumped in with the crooks. A persons past record should account for something.
Perhaps I will go back to money orders. To me eTransfer would be a preferred option.
Slainte! |
PayPal "reserves the right" to hold funds which means they don't treat everyone the same. Stripe deposits your money into your bank account 7 days after receipt. All payments you receive on Monday will be transfered to your bank on the following Monday. All Tuesday payments will transfer the following Tues. The funds are usually in your bank the first business day following transfer. After you've been with Stripe for a while and have a good track record of payments, there are other options available for transfers.
Money Orders can be a bit tricky. If they are USPS money orders you can take them to the Post Office and cash them. If you have to deposit them into your bank account, they can come back if the customer stopped payment or they were stolen. It can take a week to 10 days to know if you have your money. |
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EmptyCloset
Posts: 7
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| Posted: Thu Jun 02, 2016 2:19 pm Post subject: |
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Thanks Sheila,
Here in Canada I only ever used the postal money orders...never had a problem.
Will have to think this one over. Don't like the idea of leaving PayPal after thirteen years....nevertheless...I am not impressed with their treatment of long time customers.
Slainte! |
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MoonwishesStore
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| Posted: Thu Jun 02, 2016 3:41 pm Post subject: |
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Emptycloset - do your Canadian banks take US MO without a fee? Last time I got a MO from Canada the fee was $8 to cash it which amuseingly enough was exactly what the MO was made out for!
Most buyers here in the states seem to want to use electronic payment as it is so much simpler and faster. I don't know if Stripe works for sellers in Canada. We have a few other Canadian sellers, so perhaps they can stop and give some advice. It didn't take too long with Stripe before they started depositing the money in my account before I even saw the order! I don't remember any long waits for PP reimbursements but I have heard of them. I only generally pull my money out on one particular day of the week (once a week) as it keeps my accounting a bit easier.
Welcome. |
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cosmicray
Posts: 7286
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| Posted: Thu Jun 02, 2016 8:29 pm Post subject: |
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| EmptyCloset wrote: | | I have had my PayPal account since 2003. Had 100% positive feedback as a buyer and seller, above standard performance level. Had not sold on ebay in a while then started once again last December. They were withholding payment for 21 days or until the customer confirmed delivery. Mailed the item the day after the sale, it took five days to arrive but the post office tried to deliver three times and was about to return the item when the customer finally picked it up almost three weeks after delivery. |
I think that's the real issue right here. When PayPal (or perhaps eBay) sees an account go dormant for a period of time, then spring back to life, they have no way of knowing if the party using it is the legitimate owner, of if someone hacked a password, and were trying to use (what is theoretically a proven account) for bad behavior. They are being extra careful under the circumstances. |
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cosmicray
Posts: 7286
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| Posted: Thu Jun 02, 2016 8:32 pm Post subject: |
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@MoonwishesStore
US and Canadian post offices will exchange postal money orders. US will also exchange with the Japan post office. It's a relatively easy way for selling to those two countries. |
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MoonwishesStore
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| Posted: Thu Jun 02, 2016 10:26 pm Post subject: |
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Cosmic, Not sure I'm brave enough to ask my ex-Marine PO clerk to cash a MO from Japan or even Canada. Scared he would laugh me out of the PO, maybe I will someday when I don't have and actual one to cash.
Considering we are barely 100 miles and on the main interstate to Niagara Falls and thus Canada, there is no bank in town that I know of that will exchange actual cash. So we have to do it at the border, at least the last time we went up we did. My passport expired and once we needed one to go to Canada, that was the end of those jaunts. |
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trafficjammers
Posts: 275
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| Posted: Thu Jun 02, 2016 11:00 pm Post subject: |
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| SheilaDeesPostcards wrote: | | EmptyCloset wrote: | So I gather that this means that any new sellers to any site using PayPal as a payment option has their funds held until PayPal sees fit to release them. Does stripe also do this?
In the good old days we used money orders to pay, it may have taken about a week longer to receive your item, however, it seemed to work better than PayPal. The buyer had the receipt and the seller got their money with none of PayPal's fees or butting in to transactions between buyer and seller.
I can understand the reasoning as there are many crooks about, although it is rather unfair that the honest people are lumped in with the crooks. A persons past record should account for something.
Perhaps I will go back to money orders. To me eTransfer would be a preferred option.
Slainte! |
PayPal "reserves the right" to hold funds which means they don't treat everyone the same. Stripe deposits your money into your bank account 7 days after receipt. All payments you receive on Monday will be transfered to your bank on the following Monday. All Tuesday payments will transfer the following Tues. The funds are usually in your bank the first business day following transfer. After you've been with Stripe for a while and have a good track record of payments, there are other options available for transfers.
Money Orders can be a bit tricky. If they are USPS money orders you can take them to the Post Office and cash them. If you have to deposit them into your bank account, they can come back if the customer stopped payment or they were stolen. It can take a week to 10 days to know if you have your money. |
Stripe can and will do the same as PayPal. Stripe just isn't prominent so there aren't enough people out there talking about it. It's in their TOS, just like PayPal, that they can hold your money until they deem it is safe to release it.
Now, PayPal on the other hand has only held payments for 21 days when I first started selling in high volume. According to Stripe, they can hold for up to 90 days I believe. See, most other ecommerce sites and payment processors will put you on a "rolling reserve" to make sure you are a safe seller. Stripe makes no mention of this so please be careful. |
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EmptyCloset
Posts: 7
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| Posted: Fri Jun 03, 2016 5:40 am Post subject: |
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Thanks to all for the additional info. Gives me more to think over.
@MoonwishesStore - There is no fee to cash a money order here at the post office. There is the purchase fee of $7.00 though. I had to look up the price as it had been years since I had purchased one. Last time I got one it was $2.50. Not such a cheap option any longer.
Interac eTransfers are quick and easy with a fee of $1.00 to send/none to receive depending on which bank, only available for transactions between Canadian banks.
My bank offers the Western Union option for transferring internationally with a fee of $9.00 + 1% of the amount. I would only use this to transfer money to out of country relatives that were in a jam and needed instant cash.
Slainte! |
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