PayPal Question

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Jul 25, 2013 | 03:42 PM

#21

rob0225

Thread Starter

Road Master

Joined: Oct 2012

Posts: 1,240

Likes: 82

From: Columbus, GA

Quote:

Originally Posted by UltraNutZ

a lot of folks (myself included) are getting to the point where Paypal is just simply a hassle. Fees for this, fees for that, if a dispute arises the funds are locked, etc. but in all reality they are as secure as any bank is and no more of a pain in the *** as any bank is to deal with these days. They are a financial institution and they must follow the same SOX and GLBA (among others) rules that any financial institution is governed by.

The one that gets me about the whole eBay/PayPal combo is when you sell something on eBay, the buyer pays via PayPal, but then PayPal puts the funds on hold until the buyer receives and inspects the product. What a bunch of BS that is IMO.

Seriously? When did they start putting a hold on funds? Does the buyer have to inform PayPal to release the funds or is it automatically after a certain period?

Jul 25, 2013 | 04:12 PM

#22

UltraNutZ

Extreme HDF Member

Joined: Nov 2007

Posts: 14,670

Likes: 139

From: East of the Sun, West of the Moon

be honest I haven't sold anything on eBay for probably 3 years and then a couple of months ago I put a piece of network equipment up there, it sold and that's when I discovered it. Called PayPal and said WTF and they said it's standard practice. I cancelled the sale, refunded the guy his funds and listed it here locally and it was gone within 2 hours.

i don't think the buyer has to notify them but I do believe you have to provide shipping info to ebay/paypal when you're selling something on eBay and either the day it's delivered or maybe the next it's released...

Jul 25, 2013 | 04:12 PM

#23

UltraNutZ

Extreme HDF Member

Joined: Nov 2007

Posts: 14,670

Likes: 139

From: East of the Sun, West of the Moon

might have something to do with the amount as well. it wasn't a cheap piece of equipment...

Jul 26, 2013 | 03:23 PM

#24

Wingsfan

Cruiser

Joined: Apr 2011

Posts: 182

Likes: 5

From: Pontiac, MI.

Nope it is done that way for any sale now. Happened to me on a 100 sale and I was pissed. Waited 7 days for the money to be realeased

Jul 26, 2013 | 03:33 PM

#25

PopsHD

Road Warrior

Joined: Oct 2010

Posts: 1,862

Likes: 127

From: Republic of Texas

Send me a cashier's check from a reputal bank/credit union, I deposit it and as soon as the check clears and I have money in my account, I'll ship you your parts. Just makes the sale process take a bit longer.

Jul 26, 2013 | 03:35 PM

#26

UltraNutZ

Extreme HDF Member

Joined: Nov 2007

Posts: 14,670

Likes: 139

From: East of the Sun, West of the Moon

it's what happens when you get too big for your own good. Then combine that with the merger of these 2 companies and you have a force that CANNOT be reckoned with.

Used to be you could go to eBay and find great deals on things people just didn't want. Now you have to wade through 1000s of companies selling crap at retail before you find the little guy you can get a deal from...