PayPal"Payment on hold?

I had payment made to me this morning. but PayPal won’t let me get at the money for 21 days…

This has never happened to me with PayPal before. Does anybody know why they would do that when they never did before?

Thanks,

  • karen

Maybe it is a e-check? E-checks are bank payments, they are very slow.

They are also offering ‘buy now pay later’ to people at the point of payment.
I did believe that still sends money to the seller immediately, though…
e-check is more likely… this is payment from someone who has no Paypal balance and Paypal has to go to the bank and ask for money.

Possibly, if they “ok” the transaction at their end to say they have received the “goods”, paypal will release that lock earlier (at least that how it sometimes works with ebay), otherwise is a wait :frowning: They are just covering themselves in case the buyer does a runner so they dont have to claw the money back from you.

[quote=359955:@Karen Atkocius]I had payment made to me this morning. but PayPal won’t let me get at the money for 21 days…

This has never happened to me with PayPal before. Does anybody know why they would do that when they never did before?

Thanks,

  • karen[/quote]

If you received the payment only this morning and PayPal immediately hold your money, then it means that PayPal’s algorithm may be detecting something amiss about this payment. I have this happened to me twice. Once the payment went through within the day, the other time the money was returned to buyer by PayPal.

I would hold my order until PayPal released the money. In the meantime, send an email to the buyer to explain the PayPal situation and that it is outside your control. The buyer should understand.

https://www.paypal.com/us/selfhelp/article/Why-won’t-my-payment-be-available-for-21-days-FAQ3236

[quote=359955:@Karen Atkocius]I had payment made to me this morning. but PayPal won’t let me get at the money for 21 days…

This has never happened to me with PayPal before. Does anybody know why they would do that when they never did before?
[/quote]

They are trying to protect you from a suspicious client. Don’t worry. After probably much less than 21 days, they will decide if they can take that payment or not.

I have been with Paypal since the early 2000’ and this does happen. Apparently more often lately. Maybe they tightened their procedures.

At any rate, better that than God forbid a stolen card. You would incur a chargeback and a $25 extra charge as well.

Of course, don’t ship until payment is effective. They will send you an email as usual if it goes through.

https://www.paypal.com/ca/selfhelp/article/how-do-i-get-my-money-sooner-for-a-transaction-on-hold-faq3743/1

I have had this happen before and I called them and they released the hold. Maybe try contacting them?

Thanks everyone… I had no clue as to why they would do it and appreciate hearing other’s experience.

  • karen

Not long after we started our small business, we used PayPal for the transactions. I’d let it accumulate over several months and then we needed the money. I went to withdraw it and they froze the account. It took 3 months to sort out, and we had to borrow money in the meantime, we also had to find another payment processor as they refused to collect money for us in the meantime.

I have never trusted them to collect payment from our customers since.

Sorry to read this, Sam.

Of all the merchant services I used since the mid nineties, Paypal has been the least pain for me. Before then I had two merchant services kick me out because I had too many chargebacks (as if I was responsible for the crooks that ripped me off).

I have seen them fight chargebacks, and on occasion win over frivolous claims.

I guess each one’s experience is different. In terms of customers, Paypal’s image is very good as well. I have very few customers asking for another way of paying.

If it wasn’t for the fiasco which is VATMOSS , (which has cost me 25% of the revenue I used to earn), I would be using Paypal exclusively (in combination with e-Junkie)
Until forced to switch, it was reliable and cost-effective and if it were possible, I would go back like a shot.
I did have one experience like Sam’s very very early on before we had established as a ‘business proper’ with Paypal.
Took a couple of days to resolve, but not a blip after.