New Paypal Policy

[lanciahf]

Did anyone else get this?

"We're writing to let you know about a change to your PayPal account.

Starting 7/8/2011, money from payments you receive will be placed in a pending balance for up to 21 days. By doing this, we're making sure that there's enough money in your account to cover potential refunds or claims.

Even though you can't access the money right away, please ship orders quickly and communicate with your customers. After 21 days, you can withdraw money from each payment as long as the customer hasn't filed a dispute, chargeback, claim, return, or reversal.
The money may be available sooner if:"

Thats it I'm done. I canceled my ebay account and paypal is next.

[grittracing]

they do that for about 3 month than they drop it. Did it to me all normal now just keep $100 in pay pal for the duration.

[Daniel]

PayPal Is retarded I simply refuse to feed that monster any more and ask for check or money orders !

[grittracing]

they are pricey. So if you go that way make sure you wait 15 days for the check to clear before you ship any goods.. Banks will post in 3 but takes 15 to clear.sold my harley a few years ago.and got a bad money order looked real even to the bank teller.it posted luckly i had not shipped and or spent the money.the 14th day the bank called telling me it was bad.

[azygoustoyou]

If they start doing that. I'll use another system of collecting or sending money. I hate people messing with my money.

[lanciahf]

Thats the thing I had about 300.00 sitting in there for months with minimal amount of usage. I googled it and seems they are starting to do this randomly.

they do that for about 3 month than they drop it. Did it to me all normal now just keep $100 in pay pal for the duration.

[sptcoupe]

It's called a "float". All that money is in their account and for accounting purposes as an asset, that sets off the liability they have to paywhen they pay your bill down the road. In the meantime, they are making interest on all that money. My guess they are buying commercial paper so it is very liquid, but even so, a little bit of interest on a lot of money is still a lot of money - your money.

[131]

Do you have to offer Paypal when selling on Ebay in the US? They introduced it in OZ 12 months or more ago, you have to have a Paypal account and accept payment for goods via Paypal. There was some sort of argy bargy with consumer affairs over it, but Ebay/Paypal won. You can accept bank deposit or cheque etc, but you must offer Paypal as well.

[spiderrey]

Paypal straight sucks! Ive been useing if for over ten years and it justs keeps getting worse. I rarely use it now, need to find another way to sell.