Pay pal
Internet
United States of America
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Pay pal paypal.com, ebay.com paypal stealing my interest money, Internet
*UPDATE by author: reply to rebuttal
2Author
1Consumer
0Employee/Owner
I have been a top-rated seller on ebay, using paypal for 13 years. Recently I opened a second ebay account to sell specialty items.
At my second account paypal holds payments made to me for THIRTY DAYS.
NOTE: ebay does not allow me to collect cash, checks or money orders for the sale of my items.
THUS: paypal is taking my 30 days of interest earned. When they release the payment into my account they do NOT add on the interest earned. They keep it in their own pockets, against my will.
IF they demand the right to hold my money; I demand that they pay me interest on these funds!
Click Here to read other Ripoff Reports on Pay pal
REBUTTALS & REPLIES:
2Author
1Consumer
0Employee/Owner
Updates & Rebuttals
#1 Consumer Comment
AUTHOR: Ronny g - North hollywood (USA)
SUBMITTED: Sunday, September 12, 2010
POSTED: Sunday, September 12, 2010
Understand, the policies PayPal uses are to protect THEM, and BUYERS from fraud and scam. So when an account is new, you have to earn trust, until then they hold the funds. I mean what is to stop anyone from opening a new account..and receiving payment and then never send anything?
Unless you can suggest a better, safer way to conduct online transactions...just make sure you can afford to wait for your funds until you establish a history with the new account..or better yet..just use your old account which I would assume is well established and you have instant access to funds?
EVERY SINGLE new account has to live with the same policies..they made no exceptions in your case.
#2 Update By Author
AUTHOR: 6_grandkids - Tucson (United States of America)
SUBMITTED: Sunday, September 12, 2010
POSTED: Monday, September 13, 2010
I am not asking them to change their hold policy. I am saying if they HOLD funds, they should pay interest on the money they are holding. They are earning interest on MY EARNED money. EX: When I paid a $100 deposit to my electric company, at the end of one year the electric co. refunded the deposit plus interest. THAT is the law.
I opened the second account because it is my legal right to own more than one store.
Ex: Donald Trump owns several properties
