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Old 03-01-2008
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Default Paypal holding funds for a transaction

Hi all.

Yesterday I had £170 in my paypal account. I decided to withdraw it all into my bank account.

Today I got an email from ebay saying the withdrawal had been cancelled and reversed back into my paypal account.

One of my recent transactions was one for £55. It seems that paypal have decided that that particular transaction could be “potentially problematic”, and have placed a hold on it. That’s why they reversed my withdrawal.

They want me to provide a tracking number. Luckily,I haven’t processed and dispatched the £55 transaction yet, so when I do, I can send it registered delivery and obtain a tracking number to give to paypal.

What really gets to me though, is the f***ing nerve of paypal. What right do they have reversing a withdrawal like that?? I’m really pissed off. They seem to be doing whatever the hell they want.

Why did paypal pick out this particular transaction to place a hold on? Is this something they do quite often? Does it depend on if the transaction is for a high amount of money? Will it happen again at some point?

It’s really annoying because I generally do not send out my goods with a tracking number. Not only is recorded/registered delivery more expensive, but it would mean me having to spend an hour at the post office everyday, with 10 - 15 parcels in my hand, filling out forms..etc..etc..
I prefer to just buy and print out my stamps online, stick them to my parcels, and drop off my parcels at the post office at the end of each day. It makes like a hell of a lot easier. But what now? I gotta send everything RECORDED DELIVERY incase this paypal thing happens again??

p.s. this transaction in question was not ebay related. It was a sale through my website.
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Old 03-01-2008
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Vimto, I'm very suprised indeed that they reversed the payment when it was not linked to ebay. I thought they were a lot more leanient with payments outside of ebay.

Is your account verified? If not, that will be why. Once you have verified your account, be sure to take it slow, and gradually build up the amount you withdraw your money by.

I had exactly the same recently with my newest paypal account. Also, you better get ready to send out ALL of your parcels via recorded delivery. Not only does it cover your back, but for cases like this, you would have had a long wait for your money if you could not provide proof of postage.
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Old 03-01-2008
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That's what they do when you have a reversal. They've always done this.

And it wasn't Paypal that decided to screw you over; it was most likely a chargeback from a customer.
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Quote:
Originally Posted by mantisinc View Post
Is your account verified? If not, that will be why. Once you have verified your account, be sure to take it slow, and gradually build up the amount you withdraw your money by.
Hi mantisinc, my account is verified, yes. But only for about a month or so. Not that long. This was my second ever withdrawal on this account. I always thought that it's good to withdraw and not leave any money in your paypal account so that paypal can't get their dirty paws on it. But it seems that nothing can stop paypal from getting their dirty paws on your money.

Quote:
And it wasn't Paypal that decided to screw you over; it was most likely a chargeback from a customer.
I asked the buyer about what happened, and he said that the paypal account he paid with became limited yesterday. I suspect it was the same time paypal placed a hold on my money. I really really don't see why the status of someone elses paypal account is allowed to affect my account. It's not on at all!
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Old 03-02-2008
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Ah right. When I received payments on my new paypal, I send all of the money to another one of my accounts before it was verified, and it got limited a day later.

Afterwards, I withdrew £200 to my bank account, no problems at all. As long as you still keep some in your paypal, I don't think it's a problem (unless you make a huge withdrawal).
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Old 03-02-2008
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Vimto, sadly this is what I call the domino effect with paypal. If paypal thinks
money will not come its way, limits are made and quickly.May not even be something that you have done.
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Old 03-04-2008
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I had $250 in my new PP account and recently transferred $180 into my bank account with no problems.

I just made sure to leave some funds in there so they don't freak out. I'm going to use those remaining funds to do a one time transaction to pay my eGay fees anyway.

I'm just taking it slow on my one measly account.

My next step is to open a merchant account and get rid of PP alltogether.
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Old 03-04-2008
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Once again...What a shame we all have to do this stuff to get OUR money... $170,$250,350..its really all chicken feed..And they make a Federal Case..Btw- I got 2 new PP debit cards last week...they're already Smoking.....I expect a limit...doesn't phase me anymore...Think I'm Numb to it over the years... God Bless America..oh, and Paypal
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Ahh...so the trick is to leave some money in the account and not withdraw it ALL?

I've sent myself money from ⊗⊗⊗⊗ paypal accounts to my "real" one in the past, and almost immediately after transferring, the ⊗⊗⊗⊗ one gets limited.

What is a good amount to leave in there? a few pounds/dollars? 5? 10?
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p.s. you guys in the U.S are lucky. We don't have paypal cards available to withdraw from ATM machines. That would make life a lot easier. :(
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I received a limit for a w/d $130 from a 90 day account! left $50 in it.
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Old 03-04-2008
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Paypal is no longer a viable solution anymore. I mean you can always refund ppl if you get limited but you'll never be able to use that bank account on paypal again forcing you to go get another one. What's the point of it all?
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Just don't ship until you physically get your hands on the cash. Always have an "insurance payment" from a legit paypal account in there you can refund in case, and have back up accounts and you will be find. If they limit you can always refund if you don't think they will release the money after 180 days, even though they are supposed to and if they keep letting new paymants come in, email those people and tell them paypal froze their payment over "security concerns" and give them paypal customer service number to resolve. i heard each customer service call lasting 5 minutes are longer cost them $10
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Old 03-05-2008
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In my case I waited until all my orders were received and my customers left feedback, I made sure I had no open auctions then I withrew some money and left like $80 in it.

And yes, I'm talking peanuts here I know, I was never a powerseller.
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Old 03-05-2008
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i used to withdraw $ as soon as someone paid me, but that put up red flags, now i leave the money in until i get + feedback, then withdraw. seems to have a lot lless problems this way.
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Old 03-05-2008
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Quote:
Originally Posted by sycore View Post
Just don't ship until you physically get your hands on the cash. Always have an "insurance payment" from a legit paypal account in there you can refund in case, and have back up accounts and you will be find. If they limit you can always refund if you don't think they will release the money after 180 days, even though they are supposed to and if they keep letting new paymants come in, email those people and tell them paypal froze their payment over "security concerns" and give them paypal customer service number to resolve. i heard each customer service call lasting 5 minutes are longer cost them $10
Well it doesn't matter if you do that or not because paypal is limiting accounts early for no apparent reason. I suggest anyone who has a verified acct to find another way to cash out using a different method besides withdrawing to your bank and never go back to paypal.
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Old 03-06-2008
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Amen to that.
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