PayPal Reserves
sushihotwings
Posts: 452 ✭✭✭
Please see the link below to the discussion. Has anyone else experienced this? Is this an isolated incident or is it a growing trend? There is no evidence of prior bad behavior and apparently buyer and seller are happy. It is highly concerning that PayPal would be able to hold your money for multiple months without an obvious reason and merely over concern over what "might" happen.
http://www.blowoutcards.com/forums/basketball/1062861-paypal-reserves-its-coming-you.html
On the hunt high grade Star Basketball.
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Comments
This is scary. Thanks for the link. Dealing is collectible sneakers, I've had PayPal place a hold on individual transactions before but never for the entire account.
IG: goatcollectibles23
The biggest lesson I've learned in this hobby, and in life, is that if you have a strong conviction, you owe it to yourself to see it through. Don't sell yourself, or your investments, short. Unless the facts change. Then sell it all.
For a two year period PayPal held 5% of all funds I received and gave them back to me after 4 months.
They stopped it a while ago for me.
Also, if anyone else took the time to read the new Ebay terms and conditions starting March 1, I think they eliminated the 180 day return restriction to make it basically indefinite it seems. I am trying to find it in my email and it was somewhat vague, but I am pretty sure that was the bottom line. Did anyone else read it this way?
eBay has never had a 180 return policy as far as I know. Paypal does.
James
Maybe you are right. I am trying to find the email. They are pretty much one and the same anyway though practically speaking.
Even though eBay requires sellers to accept Paypal, they no longer own Paypal.
James
Don't sell as much as I use to but I sold a couple big $ cards then a couple weeks after I received a message that they will hold 10% of future sales for 90 days from now on no matter what.
I read threw the email and the main reason was because of charge backs in the sports card department.
Another reason to just consign with Rick or Brent.
I use kind of a burner checking account linked to my Paypal (one that I don't use or keep a balance on). I also get money out of my Paypal ASAP.
If they're going to begin keeping 10% for 90 days then that will really hurt my business because I immediately reinvest 1/3 of sales into new inventory.
I the moment I accept all major credit cards, personal checks, money order, and Paypal, but I may actually have no choice but to drop Paypal if this is something they start doing to me.