| Pandoras_box | 09-09-2018 03:26 AM |
Re: Paypal Funds Now
Quote:
Originally Posted by donkeykong2012
(Post 942244)
Just received an email to opt into a "Funds Now" programme.
Never come across this before. Not logged into the account yet. Below is the wording on the email. Anyone else come across this?
"Access your money right away with Funds Now.
You can now access money from your sales as soon as you receive it, without worrying about holds or delays.
Here's how Funds Now works for you:
We won't hold or delay your funds – even if there's a dispute.
Money from your daily sales will be available in your PayPal balance seconds after completed transactions. Every time.
We've got your back
In very rare cases, certain delays may still occur. These delays are usually security related so we can help protect your account but we'll let you know right away and help resolve any issues.
Log in to your account to activate Funds Now"
|
I do not regard this feature very highly and would not use it for my stealth accounts.
It says it is only available for accounts with good standing and history.
By the time you have a good standing with PayPal, your funds would no longer be on 21-day hold anyway.
As regards the holds placed when there is a dispute, I would not want that available to me until the cases are resolved. If a claim is resolved in the customer's favour, I want the funds taken from my PP balance, not my bank. Therefore this is almost useless to me as disputed funds need to be in PP anyway.
If you run your stealth accounts quite well with titles and description that accurately describe the products on offer, you would not have very many disputes that will break you cash-wise if the funds are not immediately available to you.
I'll surmise this new feature in two ways:
1. for those who leave very little balance in PP, this feature increases the chances of PP charging your bank account to cover for claims that you do not resolve in your favour.
2. If you usually leave funds in your PP, then you do not need this feature anyway.
Thanks to PayPal, but I'll pass. | 
