Source
r/paypal•
electric29

New funds hold policy is outrageous!

I hate PayPal

We have been selling online for decades and have taken Paypal since day one. Probably doing about $20 to $15K in transactions per year. All of a sudden they are randomly holding funds until products are delivered, not just shipped, the excuse they give is a change in our sales. I can't help it if their product is not being used by customers, why should we have to wait for the payment when it is nothing we have done? It's a scam so that they make interest on OUR money that they are holding. I am considering dumping it altogether. Anyone else having the same issues?

Posted May 12, 2023, 6:21 PM UTC

45
raven411111•

Ough stop using PayPal dummies they are a bunch of criminals and they will steal your money. Do some research

2
AutoModeratorMOD•

Abbreviations used in r/PayPal:

  • NAD - Not as described.
  • SNAD - Significantly not as described.
  • INR - Item Not Received.
  • UAT - Unauthorized transaction.
  • OP - Original poster of the message.
  • F&F - Friends and Family (no protection at all.)
  • G&S - Goods and/or Services (has seller/buyer protection.)

Posts about PayPal's policies will be removed. No more complaining about PayPal policy and their taking funds from your account for violations of rules. If you don't like the rules don't use PayPal. If you don't want to lose money, don't leave funds in your PayPal account. Simple as that. But these posts are often political or misleading. So no more posts on this subject!

Thank you for submitting to r/PayPal, please make sure you have read the FAQ. If your account was created when you were younger than 18, then that is covered in the FAQ!

Try contacting PayPal support using social media such as Facebook or Twitter as this works more often than telephoning.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1
PhilipMichael_•

Yes same issues here.. I am in complete agreement with u/electric29.. and the fact that any complaints are now immediately called out is transparent silencing and how can we possibly have an unbiased platform to post on if they refer back to 'complaining' directly on paypals own forums.. gl w that.

1
GeekOnTheWing•

I haven't had it happen to me, but I expect that it will.

My PayPal volume is near zero these days. It used to be in the neighborhood of USD $40K / year. Then PayPal decided to get political, and my clients demanded an alternative. So I gave them Stripe: and now almost everyone is using Stripe.

I recently logged into my PayPal account and got a popup pleading with me to restore PayPal as a payment option. Thing is, I never removed it. The button is still there. People just aren't clicking it.

It kind of pisses me off because I've always gone out of my way to put as much distance between my business and politics as I possibly could: and then my payment processor has to go and get political. They created annoyance for me where there used to be none.

In the end it worked out okay. Stripe has been trouble-free, kinda like PayPal used to be. There's a two-day lag in my receiving payments; but once I became established with Stripe, they approved me for up to USD $5,000.00 instant transfers per day (for an additional 1 percent). I haven't been hard up enough to have to use it, but it's there if I need it.

I am considering dumping it altogether.

I suggest you not do that. Offering multiple payment options is a good thing.

But I do suggest that you line up an alternative like Stripe or Square. I use both companies (I have two businesses, and Square is a better fit for one of them), and they've both been trouble-free.

Do it now. Don't wait until it's a crisis. PayPal has become mighty unpredictable lately, closing accounts as old as yours or mine for no discernible reason. This sub is full of those stories. So set up your backup method now.

As for holds, the day that PayPal imposes one on me will the day that the PayPal button does disappear from my invoicing system. A couple of years ago the idea of PayPal closing my account would have terrified me. Nowadays I could give a shit. Almost no one uses it to pay me anymore, anyway.

1
No-Force5341•

Good luck. They can hold your funds for 180 days for no reason whatsoever. I have read so many comments just like this that even after people's items get delivered PayPal will hold the money for the rest of the 180 days and wont even give you a reason.

Something similar happened to my gf. She used to receive work checks through PayPal and one day after she got paid the account was frozen, every penny we had was in there too, for 180 days. They gave us. O reason as to why, and apparently they d nt need to give one.

I hope this is not the case for you, but it is very common to PayPal users overall, just check out their BBB page, they have ruined peoples businesses and lives and think nothing of it

1