Hold on Paypal WTF?

[dad911]

Sold some bigger ticket stuff two weeks ago in Florida.

Paypal put a hold on $300, reason is 'increased activity'

Items were hand delivered, but they won't release funds unless I could supply tracking info. So I wait 21 days.

Floating funds, in addition to taking 3% fees.

When funds are released, I'm pulling them out and closing the account.

[bahman]

Originally Posted by dad911

Sold some bigger ticket stuff two weeks ago in Florida.

Paypal put a hold on $300, reason is 'increased activity'

Items were hand delivered, but they won't release funds unless I could supply tracking info. So I wait 21 days.

Floating funds, in addition to taking 3% fees.

When funds are released, I'm pulling them out and closing the account.

Do you really think they care? I had a billing dispute with one of the major card holders positioned as premier in the marketplace (20+ year customer.). When they could not amicably resolve the issue, I closed the account and sent them email and letter explaining why. No one bothered to call and understand why such a customer would close the account. Average billing at that time was $10K/mo (business and personal).

[dad911]

I'm sure they don't care. All my kids use Venmo. I suspect Paypal will become the myspace of electronic payments.

[MBAtarga]

Originally Posted by dad911

I'm sure they don't care. All my kids use Venmo. I suspect Paypal will become the myspace of electronic payments.

I've got some bad news for you....guess who owns Venmo?

https://en.wikipedia.org/wiki/Venmo

[Chocaholic]

Can you possibly imagine the realm of scams that Paypal has to manage? Believe me, holding your 300 bucks for a few weeks isn't what’s keeping them in business.