posted on October 14, 2002 12:02:45 AM new
From Paypal's user agreement word for word under 7. Miscellaneous Disclaimers.
a. PayPal reserves the right to hold funds beyond the normal distribution periods for transactions it deems suspicious or for accounts conducting high transaction volumes to ensure integrity of the funds.
So you agree that if Paypal deems a need to freeze your funds for what ever reason they claim they find suspicious, "they" can do so for an undislosed amount of time ?
As long as "they" deem nessissary ?
Could "they" claim all transations which end in .95 are suspicious, "they" could freeze all those funds as long as "they" see nessissary ?
Or you are having a good month and Paypal finds the need to freeze your funds and take away the rights to your own money ?
_________________________________________
Also from the user agreement
VIII. Additional User Agreement for Premier and Business Accounts
6. Reserve Account in Case of Closure. If you or PayPal close your account, PayPal may retain a portion of any funds it holds in custody for you, based on your transaction history, as a reserve to the extent reasonable to protect PayPal against the risk of future reversals of transactions occurring prior to such closure. PayPal will pay you the balance of any such reserve 180 days after closure.
So if you want to close you account, Paypal may keeps some to all of your money for 180 days ?
______________________________________
Isn't Paypal "right now" facing multiple class action lawsuits for stuff like freezing funds and pocketing the interest ?
posted on October 14, 2002 12:30:27 AM new
Open multiple accounts. If PayPal wants to hold you in the red and not recognize the possible service they offer to the other party to abuse you then let them keep their negative balance.
Buyers are aware of this as well as sellers and anyone not flexible enough to carry out a transaction slightly different upon notification may themselves be enjoying this wiggle room with PayPal. It just requires extra work on your behalf to manage the payment methods and structures. That extra work pays off.
Don't accept anyone's remarks that this is just business to be accepted. Not in this world.
posted on October 14, 2002 12:43:11 AM new
PayPal--„³
PayPal, at its sole discretion, also reserves the right to limit access to sending money or making withdrawals from an account for any one of the events listed below. If the dispute covers only a specific transaction, we will only limit access to funds related to that particular transaction. If your account access has been limited, you will be notified by e-mail and requested to provide information relevant to your account. PayPal will investigate the matter promptly. If the investigation is in your favor, we will restore access to your account. If the investigation is not in your favor, PayPal may return funds to the sender and restore access to the remainder of your account, continue to limit your account access for up to 180 days as to funds necessary to protect PayPal against the risk of reversals, or may close your account by giving you notice and mailing a check for any funds in your account (minus funds that are in dispute) to the address that you have provided. If you are later determined to be entitled to the funds in dispute, PayPal will make an additional payment of those funds to you. Any of the following events may lead to your account being limited:
Complaints received regarding non-shipment of merchandise, non-delivery of services, merchandise not as described, or problems with merchandise shipped;
<-----PayPal
No specific periods of time are mentioned other then the ¡§limit your account access for up to 180 days¡¨, PayPal does indicate ¡§PayPal will investigate the matter promptly¡¨. Again, though no specific time frames are listed, PayPal informs me that should the buyer not instruct PayPal to release the funds on hold, the investigation does not begin until after 30 days. PayPal will not return the funds regardless of proof of deliver until they begin the investigation and only if the investigation results in the buyers favor. Should the buyer agree to release the funds, PayPal gives a time frame of about 4 days after buyer notification or investigation in the buyers favor to release the funds.
Again, should one desire specific information as to time frames, you would want to contact PayPal directly at the previously posted number.
So, as previously stated to many times to count; any buyer using PayPal can at anytime place a hold on the amount of money they sent to a seller. Should the buyer not request that these funds be released, PayPal will hold these funds for up to 30 days. The return of funds will take approximately 4 days which puts the timeframe at 34 days minimum and 180 days maximum.
So we¡¦ve finally concluded that the previous statements were true. Shall we now deal with matter at hand?
posted on October 14, 2002 12:52:49 AM new
Correction; PayPal will hold these funds for a MINIMUM of 30 days. Not Up To 30 days. They do not begin the investigation intill after 30 days.
Coonr, Anyone that answers the phone at PayPal will verify this information. Want a name? Let me know and Ill confirm the information AGAIN and be happy to forward names.
posted on October 14, 2002 04:57:56 AM new
Jimmy be sure and ask the exact question, and get the correct name, so it can be followed up on, by the powers to be @ PayPal.
The buyer does NOT determine how long the money is held.
If you supplied the requested delivery info and complied with the SPP, once it is validated, your funds will be released.
posted on October 14, 2002 05:03:03 AM newPayPal informs me that should the buyer not instruct PayPal to release the funds on hold, the investigation does not begin until after 30 days. PayPal will not return the funds regardless of proof of deliver until they begin the investigation and only if the investigation results in the buyers favor. Should the buyer agree to release the funds, PayPal gives a time frame of about 4 days after buyer notification or investigation in the buyers favor to release the funds.
Again, should one desire specific information as to time frames, you would want to contact PayPal directly at the previously posted number.
So, as previously stated to many times to count; any buyer using PayPal can at anytime place a hold on the amount of money they sent to a seller. Should the buyer not request that these funds be released, PayPal will hold these funds for up to 30 days. The return of funds will take approximately 4 days which puts the timeframe at 34 days minimum and 180 days maximum.
Jimmy I and anyone who has EVER had a buyer Complaint to deal with, will telll you from 1st hand experience that you are WRONG. We con't need to call anyone, or rely on, who knows what....
posted on October 14, 2002 10:27:18 AM newCorrection; PayPal will hold these funds for a MINIMUM of 30 days. Not Up To 30 days. They do not begin the investigation intill after 30 days.
LOL, Jimmy, Jimmy, Jimmy, The quote your correcting is the PayPal web site!
posted on October 14, 2002 10:57:51 AM new
Coonr, coonr, coonr. The words between ¡§ PayPal-„³ and „²-PayPal ¡§ are a direct quote from the PayPal terms of service. The information after that is what I have learned from dealing PayPal and are not direct quotes from the terms of service. If you had read both the post and the terms of service you would know that. I had you in mind when writing that post and tried to anticipate the fact that you would try to discredit it in anyway possible. Read the damn post again and please keep in mind what I just indicated. We¡¦ve been through this too many times to count. I¡¦ve told you I¡¦ve called PayPal on several occasions and I¡¦ve related the information here several times word for word. You obviously feel the need to be right regardless of what everyone confirms to you both on the telephone and on the posts here. The information I have written has indeed been verified with many people and if you truly made the phone call, read the posts and read the terms of service you to would know that. Your hear for one reason and that reason is to argue. You¡¦re a pathetic piece of work coonr, get a life. With 900+ posts, you should be able to comprehend the writing here.
posted on October 14, 2002 05:51:15 PM new
cooner,
You’re an argumentative, immature, whiny lil bit@h….. This entire thread should be an embarrassment to everyone who reads it. Someone comes on here and tries to warn others of a problem that might affect them and their business and all you do is gripe and call each other names. I’m going to start a new thread about who the greatest sesame street character of all time is….bet we get a huge thread goin on that one huh?
posted on October 14, 2002 06:33:09 PM new
yam250,
I have not called anyone names. I will leave that to you and others. Why do both you and Jimmy have a problem expressing yourselves with profanities?
Libra63,
According to Jimmy, you and PayPal were wrong when you posted the info about it possibly taking up to 30 days to complete the investigation and resolve the dispute. Did you fabracate that?
posted on October 14, 2002 06:59:38 PM new
No I did a cut and paste off the introduction to the buyer complaint form. I don't fabricate anything. Since I wasn't doing a buyer complaint I couldn't get into it to read the rest. It is difficult to find in all of their agreements but it is there. Believe me
posted on October 14, 2002 07:05:30 PM new
Hey, don't get me mixed up in this silly no nonsense thread. It is about time that the monitors stopped this as it is getting no where fast. All I have to say is that there are risks with PayPal, most all of us know that but as long as I still take paypal I am taking that risk. One thing I would not come to this board to ask questions I first would go to the PayPal thread in the lower part of the message center and post to damon in there and if he doesn't answer me I would email them. Oh BTW one night I was locked out of my paypal account and all I did was email them and they unlocked the account the next day and wrote an apology.
[ edited by Libra63 on Oct 14, 2002 07:21 PM ]
posted on October 15, 2002 09:01:30 AM new
In situations like this, customer skills are incredibly important.
When the buyer first expressed concern over the shipping to the seller, was that answered calmly, factually and with any sort of apology or soft words to calm the buyer?
After the complaint was filed with Paypal, did the seller contact the buyer and try to calm the waters?
What was the buyer's response?
I think that people who are upset easily overreact, whether buyers and sellers, and if one of them does not take the high road the business relationship can turn adversarial. Then each party will be as obstinate as possible, blaming each other (and innocent bystanders) for all sorts of sins.
If there was no effort to calm the buyer's concern, or it was not done in a diplomatic and friendly manner, the problem may have escalated.
The key to the problem here is to get the buyer to advise Paypal that the item has been received and to remove the block from the funds. What has the seller done to encourage the buyer to do that?
posted on October 16, 2002 05:37:33 AM new
Customer service....
Some companies have a wonderful reputation for working with their customers to solve problems.
Then there is Paypal.
I seriously doubt Jimmy would make this up & lie about it. I also seriously doubt a knowledgable customer service rep would give out false information.
What I do doubt is PAYPAL's ability to have a knowledgable customer service rep for every phone call.
If that is the case, & I am sure Coonr will point out if I am wrong, then the issue here is not "Jimmy is giving out incorrect information." as much as it is "Jimmy has been given incorrect information."
People make mistakes from time to time.
It just seems that when dealing with PAYPAL a mistake can cost you.
posted on October 16, 2002 05:51:20 AM new
My experiences with PayPal have been always extremely POSITIVE!
I had 1 BUYER COMPLAINT filed against me a few mos. ago for NON-DELIVERY of GOODS!
NO money was frozen in my account. I simply completed the PayPal form with the DELIVERY CONFIRMATION number, &, within 12 HOURS (!), the issue was settled in MY FAVOR! It also helped (I guess) that I sent PP a link the the GLOWING POSITIVE EBAY FEEDBACK this moron had left for me
Also, at other times, over the past 2 years, I've contacted PP by telephone: I've always been treated courteously & provided with helpful information that solved any problems I may have been having at the time.
I think PayPal works well if ya use common sense & follow their rules. When I (rarely) sell something valuable, I accepy Money Orders (BIDPAY) and CASHIER CHECKS, ONLY -- I don't take a chance on PayPal in those instances!
I recently sold a very valuable COCKTAIL SHAKER, signed by the artist, who was the father of the 1920's "Flapper Look" -- BidPay all the way for that $450.00
posted on October 16, 2002 06:50:15 AM new
The same thing can happen to any merchant who takes a charge card, if the coustomer is dissatisfied the card company can put a hold on the dollars until it is setteled. I once had a $ 65.00 transaction that lasted 3 months before it was resolved.
posted on October 17, 2002 09:59:23 AM new
but if his post is wrong because he was given the wrong information then the person to blame is not him. It is whoever supplied the misinformation.
If the supplier of the misinformation is someone who stands to benefit in some way from the misinformation...Well you can draw your own conclusions.
Suffice it to say the post may be wrong in your opinion. But the blame needs to be placed where it came from. Not on the person trying to use the information supplied to him.
posted on October 17, 2002 04:52:36 PM new
Paypal is death. I would not resign with them in a million years. You are better to always just deal in cash and/or money orders.
