21 day hold policy

Thread: 21 day hold policy

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  1. #1
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    21 day hold policy

    Anyone with experience on the bay and the insane 21 day hold policy on funds through paypal? It seems to me that if I ship the item with delivery confirmation and the funds turn out to be fraudulent, I can call the cops. Is that not true? What bothers me isn't the hold policy as much as the fact that the funds could be fraudulent, and having to ship the item first is a big risk on my part.

  2. #2
    Member RJRJRJ's Avatar
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    Re: 21 day hold policy

    From what I understand they only hold funds from certain sellers. Do you have a new account, low feedback, selling high dollar items?

  3. #3
    Member bleddrewsoe's Avatar
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    Re: 21 day hold policy

    I forget the exact policy but the bottom line is that if you have less than 100 total feedbacks and your item is over a certain price they are not going to release the money until the 21 days OR X number of days after confirmed delivery of the item OR the buyer leaves positive feedback.

    This happened to me a few months ago when I sold a watch for $1000 and it was a bit of a pain. The buyer left positive feedback right after getting the watch so I did not need to wait that long...

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  5. #4
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    Re: 21 day hold policy

    Quote Originally Posted by dspencer View Post
    Anyone with experience on the bay and the insane 21 day hold policy on funds through paypal? It seems to me that if I ship the item with delivery confirmation and the funds turn out to be fraudulent, I can call the cops. Is that not true? What bothers me isn't the hold policy as much as the fact that the funds could be fraudulent, and having to ship the item first is a big risk on my part.
    I'm a little confused, what do you mean "the funds turn out to be fraudulent? Do you mean the buyers credit card was no good? Do you mean you shipped the item to the buyer BEFORE the money was approved and in your paypal account? When I buy something off ebay using paypal, the payment instantly comes out of my checking account and the seller gets paid literally within seconds after I hit the submit key in the paypal process. I've had items shipped to me one hour after I bought the item.

  6. #5
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    Re: 21 day hold policy

    Quote Originally Posted by hmcs View Post
    ...When I buy something off ebay using paypal, the payment instantly comes out of my checking account and the seller gets paid literally within seconds after I hit the submit key in the paypal process. I've had items shipped to me one hour after I bought the item.
    Yes, when the buyer pays, PayPal instantly takes the money from the buyer. However, it may be 21 days before PayPal gives the money to the seller. Of course, PayPal tells the seller that he must send the item to the buyer, even though the seller doesn't really know if he'll ever get paid.

    I stopped using PayPal and eBay before this change arrived, and I'm certainly not tempted to ever go back with changes like this.

  7. #6
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    Re: 21 day hold policy

    Quote Originally Posted by HilltopMichael View Post
    Yes, when the buyer pays, PayPal instantly takes the money from the buyer. However, it may be 21 days before PayPal gives the money to the seller. Of course, PayPal tells the seller that he must send the item to the buyer, even though the seller doesn't really know if he'll ever get paid.

    I stopped using PayPal and eBay before this change arrived, and I'm certainly not tempted to ever go back with changes like this.
    Thanks for clearing that up for me, my friend. Regards.

  8. #7
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    Re: 21 day hold policy

    Well, the sale fell apart anyway. I got my watch back safe and sound and the buyer got his money back. Funny, I clearly marked my auction as no returns, item sold as is and as described yada yada. I guess some people just can't read plain English. No more ebay for me, from now on I will do my best to sell or trade here, or somewhere else with an equally outstanding reputation. The whole experience with ebay leaves me feeling a little used and dirty...

  9. #8
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    Re: 21 day hold policy

    Quote Originally Posted by dspencer View Post
    The whole experience with ebay leaves me feeling a little used and dirty...
    Oh, come on and admit it - if eBay was prettier you'd want to feel used and dirty! I've done a few dozen transactions and the 21 day hold happened to me once also. As soon as the seller left positive feedback I got the money. Remember that there are all sorts of flakes on the web. Just as you meet them if you work a retail store, you'll have more to deal with on the net.

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