Paypal payments pending...where does the money go
RipublicaninMass
Posts: 10,051 ✭✭✭
Have been very frustrated with Paypal and their new "pending" payment status. I use my pp account to buy and sell, and I am unable to buy until these sold funds are released. I would assume other ebayers are doing just the same and not being able to pay for items in a timely fashion. Paypal is just picking up the interest on these payments, in this case up to 20 days. It is getting more than a little ridiculous. My rant for today....
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<< <i>Paypal is just picking up the interest on these payments, in this case up to 20 days. >>
That's no longer true.
"We’ve also heard some speculation that eBay and PayPal are requiring sellers to hold money in their accounts so that we can earn interest on the funds. This couldn’t be farther from the truth. PayPal has always stored balances (including held balances) in FDIC-insured bank accounts, which earn a modest interest rate. To eliminate any confusion with our customers over the intent of our policy, we have decided to move the equivalent amount of money of our total “held balances” to a non-interest bearing account. We hope that this clarifies the intent of our policies, which we believe have always been transparent: to ensure a trusted experience that buyers expect and to encourage increased sales for our merchants and sellers."
link
<< <i>I thought the payment was pending if the address of payment is not verified or if the funding source is not verified. I have not run into this recently. >>
Oh! I had them hold my payments received up to 21 days for about a month then they lifted it for whatever reason.