Hi. Just sold my old Fazer on eBay and the buyer paid in full using PayPal. So far so good you think except it isn’t. eBay/PayPal have put a 21 day hold on me accessing the money! This is due to me not selling high value items very often! I’m sure many of you will be familiar with this but for those like me who were unaware, be aware. Oh, they also charged me £50 quid for the ‘transaction’ as well! There must be literally millions of pounds being ‘held’ by eBay/PayPal in THEIR accounts. Someone out there is getting very rich on the interest earned whilst doing literally nothing. Rant over! Have a good week everybody. Mark
I have never had funds 'held' but would not accept Paypal for a large payment anymore because of their fees, in these days of instant transfers I have bought & sold high value stuff using this method in recent times, the only thing I would do begrudgingly is accept a deposit over Paypal.
Totally agree with this viewpoint Billy. Small deposit through PayPal then BACS or cash should have been the way to do it. As they say ‘hindsight is a wonderful thing.’
Also, if you select “friends and family” there are no fees. Just gotta put the recipient email in your contacts list ( can be deleted straight afterwards)
Cancel the PayPal payment!! Tell buyer to bring cash if not charge him your £50 pp loss! PayPal is as slippery as foook. I can’t remove it on my sales most of the time so I insist on cash on Collection. If they pay via pp because they’ve been a dumb shit and not responded to my requirements then I refund the transaction and tell buyer to bring cash. If the guy buying you bike finds the smallest problem by god you’ll know about it from pp because it’s only interested in the buyer at your cost!
Hi Tigcraft. Thanks for the advice but it was my fault for advertising PayPal accepted. Looked into cancelling but the buyer suffers a 10 day delay in getting a refund. Which is equally unfair. It’s a right Gordian knot. I will know better next time and hope Forum readers learn from my mistakes.
It's eBays fault mate they won't accept the listing without checking the accept Paypal box but as has been said earlier you have to put you want cash on collection or you get some muppet costing you money
Just as a coda to this thread. I have delivered the bike, the buyer has confirmed delivery on eBay and left good feedback. So I go back to ebay with this information and they reckon now they will release the money into my PayPal account within the next 24 hours which is a bit better than 21 days I suppose but still a pretty shit experience.
Paypal seem to always favour the buyer rather than the seller, i suppose its one of the main reasons why you always feel safe buying things on ebay and suchlike, because if you have any problems with an item they will always get you a refund, i am sure you sold your buyer a good bike but as its a higher value item then this is put in place to protect the buyer, there has been times for myself where this has been usefull to get my money back for buying something thats not quite right. I had a little look here https://www.paypal.com/uk/webapps/mpp/fundsavailability which gives loads of reasons why this could happen…..
