 Paypal is stealing your money.
I think Paypal has just become the largest scam on eBay. If you stop to consider the potential amount of money Paypal is holding in theri coffers from these bogus holds and the "float" they can earn, it is clear they are simply abusing newer sellers on eBay and taking the interest profit to the bank. They are penalizing people who have not done anything wrong in the miniscule chance they will! I have only been buying on eBay for about 2.5 years, but in that time I have spent probably $3-4000 with 100% poistive results. As I started selling for the first time this month, I had over $250 in two transactions held under this new policy even though I have done NOTHING to ever raise concerns about my integrity in their system. More importantly, they made no public or direct notice of these onerous rules to me when I began selling, and, they publish on the back pages of the transaction screens that you will get funds when either 1) The item is delivered, or 2) you are given positive feedback or 3) 21 days pass wihtout dispute. NOT printed there is the fact that even after it is delivered or positive feedback given, there is another 3-4 day wait for your funds. When I paid for items over the last 2.5 years, those sellers got their money immediately. When my current two buyers paid with Paypal, those funds were immediately available to Paypal, and I was held accountable for past ills by OTHER people!!! I don't give a DAMN about banking rules, Paypal rules, if it is legal or not, IT IS ABSOLUTELY DESPICABLE for Paypal to treat their customers this way. eBay used to be a fine avenue for everyone, small and large to buy and sell practically everything. These new policies dramatically favor big, commercial sellers and slam little folks as eBay doesn't want to police itself, and Paypal simply wants to cash in on us. I intend to contact my State Attorney, the Office of the Governor, the Florida State and Federal Department of Commerce and any other agency I can to complain loudly about this abuse of force by this greedy company. DO NOT BE FOOLED BY CLAIMS OF BAD PEOPLE ON EBAY, THIS IS ABOUT STEALING THE FLOAT ON YOUR MONEY!
Just like Wall Street and our Banking system, the Executives at Paypal and eBay jsut decided to rape your wallet in favor of theirs, and do it to the little people while favoring the large commercial cuatomers. I will not accept these holds. As a matter of fact, when I complained loudly (but not profanely) to a Paypal support supervisor, in both cases they immediately released my funds. What does that tell you? They know this is a lousy rule that is tantamount to stealing and that they cannot enforce it. DEMAND YOUR MONEY! Do not take no for answer. Do not be profane, but be as loud and angry as is necessary to get your money.
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