Paypal Holding Your Funds for 21 Days
As you may or may not know, paypal started holding funds back in January on certain accounts. They only hold onto a small percentage of money. But, this has a lot of ebayers up in arms. The truth is, paypal (owned by ebay) made a great decision. It's probably the best collective decision ebay or paypal has made in years.
Paypal had to change their ways about security. There were a lot of new paypal members signing up with someone elses identity. They would make purchases. By the time paypal caught it, the scammer was gone. So there were a lot of credit card transactions being reversed and sellers were getting ripped off. I am very happy paypal made these changes.
If you are an avid user of paypal you have probably been scammed this same way. Someone buys a high priced item and pay through paypal. Then you ship the item because paypal put the funds into your account. All is well, until your paypal account is negative money. Now you have to file a complaint to get your money back. We all know how fun this can be. The only way to get your money back is to have a premier or business paypal account. Thankfully, if you have a paypal business account, you get reimbursed because you are protected from fraud if you ship to a confirmed address.
The reason paypal is changing the way they send money is to protect sellers. There are a few reasons paypal will hold your funds for 21 days. They will not hold your funds if:
1. You have been an eBay member for 6 months or more, and:
2. Your total Feedback score is 100 or greater, and
3. Your buyer dis-satisfaction percentage is less than 5%.
OR
1.Your average DSR is 4.5 or greater and
2. You have received 20 or more DSRs in the last 12 months