entropic Posted October 5, 2011 Share Posted October 5, 2011 I've always found paypal convenient, easy, safe, and free (If one uses it right). I know, I know, paypal is anti-gun, blah blah blah. But if I don't make them any money through fees of interest on my balance, I'm not really helping them in any way. The post office is also anti-gun and every time I buy a money order from them, I'm making them money. Anyways... I just got an email from paypal saying that all payments made to my account will be held for 21 days so that disputes can be settled more easily. WTF??? I've never had a problem with any transaction in the 8 years I've had paypal. Now all of the sudden they want to hold onto my money for almost a month. I don't even have access to it for shipping purposes. What a stupid policy. I get where they're coming from since I get/send fee free payments almost exclusively and immediately remove the money from paypal, but I don't think I'll be using it nearly as much anymore. I've heard talk that Ebay demanding the use of paypal as payment is "monopolistic" behavior... I don't know how I'd feel about the government getting in there to break it up. Thanks for listening to my rant. Objections/suggestions (on free alternatives) accepted through PM. Dave Link to comment Share on other sites More sharing options...
DWFAN Posted October 5, 2011 Share Posted October 5, 2011 (edited) Does that include just "payments" or "gift" transactions as well ? My online bank account has an option for a Person to Person payment. The person I'm sending money to only has to provide an email address, and the last 4 numbers of their account number. The money receiver gets an email, then enters their bank information and confirms the payment via a secure website. It's still about a 2 day lag, but no mailing, no money order fee's, no paypal fee's. But no buyer protection like Paypal has either. (which doesnt apply to gun stuff I'm sure anyway) www.ingdirect.com How to Send a Person2Person Payment Choose your recipient's name from the drop down or add a new person by entering their Email Address and the Last FOUR Digits of their Account Number. On the next page, tell us the payment amount and when you'd like it sent. Verify the information, and click 'Continue'. Additional Info: The amount will be deducted from your account on the Send Date. P2P Payments to other ING DIRECT accounts are available immediately upon payment pick up. P2P Payments to accounts at other banks will arrive 2 business days after payment pick up due to transfer time. Edited October 5, 2011 by DWFAN Link to comment Share on other sites More sharing options...
CSEMARTIN Posted October 5, 2011 Share Posted October 5, 2011 I try really hard not to use paypal. It's great for the buyer. Not so good for the seller. I also had that 21 day hold e-mail. Link to comment Share on other sites More sharing options...
gose Posted October 5, 2011 Share Posted October 5, 2011 I try really hard not to use paypal. It's great for the buyer. Not so good for the seller. I also had that 21 day hold e-mail. I stopped using paypal some time ago, with all the hassles with paypal my checks and credit cards no longer look so bad. Link to comment Share on other sites More sharing options...
Pat Miles Posted October 5, 2011 Share Posted October 5, 2011 (edited) By instituting a 21 day hold on your money PayPal can earn interest on those funds. Yeah, it might be only $10, $25, $50 or $100 being held for one person but then how many folks are going to have their money held? It adds up to BIG $$. Thus BIG interest $$ for PayPal. You'll be paying for their service one way or another. I've never used PP and never will. Pat Edited October 5, 2011 by Pat Miles Link to comment Share on other sites More sharing options...
lcs Posted October 5, 2011 Share Posted October 5, 2011 Just got the same BS email from PAYPAL. Link to comment Share on other sites More sharing options...
Graham Smith Posted October 5, 2011 Share Posted October 5, 2011 I may be wrong but I was under the impression that this was not done all the time to all accounts. I saw the same email a while ago and it had a lot of "somes" and "mays" in it. Link to comment Share on other sites More sharing options...
prreed10 Posted October 5, 2011 Share Posted October 5, 2011 I may be wrong but I was under the impression that this was not done all the time to all accounts. I saw the same email a while ago and it had a lot of "somes" and "mays" in it. I just received some $ for an item and was able to immediately withdraw the $. Link to comment Share on other sites More sharing options...
entropic Posted October 5, 2011 Author Share Posted October 5, 2011 (edited) I may be wrong but I was under the impression that this was not done all the time to all accounts. I saw the same email a while ago and it had a lot of "somes" and "mays" in it. I just received some $ for an item and was able to immediately withdraw the $. The email I got said that my account was pinned as being at a high risk for a dispute. I've never had one in 8 years, but somehow I'm at high risk. I think they just got mad that I do so many free transactions and always transfer money out right away....they want the interest....they got rid of the money market a while back, or I might keep a small balance. Edited October 5, 2011 by entropic Link to comment Share on other sites More sharing options...
entropic Posted October 5, 2011 Author Share Posted October 5, 2011 (edited) I'd like to just stop using it, but it is way too convenient. I've done about 100 transactions in the last month....Imagine all the checks, money orders, and trips to the post office. I'll have to see if my bank will do transfers with just an email and last 4 of an account number like DWFAN said. Edited October 5, 2011 by entropic Link to comment Share on other sites More sharing options...
Miranda Posted October 6, 2011 Share Posted October 6, 2011 you may want to move this thread to another place besides the Hate area. I am guessing ( I consider paypal to be a necessary evil...) that the risky behavior that is of concern to paypal IS that you remove all funds from paypal's access.... miranda Link to comment Share on other sites More sharing options...
inkballedtarget Posted October 10, 2011 Share Posted October 10, 2011 That does kinda stink... It sure is convenient though.... Link to comment Share on other sites More sharing options...
benos Posted October 11, 2011 Share Posted October 11, 2011 I did not get that "21-day hold" email. If that turns out to be true for me, I will remove PayPal as an option to pay for an order. That is ridiculous! Link to comment Share on other sites More sharing options...
entropic Posted October 11, 2011 Author Share Posted October 11, 2011 I did not get that "21-day hold" email. If that turns out to be true for me, I will remove PayPal as an option to pay for an order. That is ridiculous! There wasn't a change in paypal policy for everyone....just for those that don't make them any money I think. Link to comment Share on other sites More sharing options...
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