A gift to Paypal... from Paypal

[Frosty]

Just saw this notification. Paypal/eBay has given themselves a gift this holiday season. They will hang on to any funds you receive for "up to 21 days". I imagine the aggregate across all Paypal accounts is a handsome, interest bearing sum.


From now on, payments you receive will be temporarily held in a pending balance. This pending balance helps make sure that you'll have enough money in your account to cover any buyer claims.

Payments will be held in a pending balance for up to 21 days. For example, if you receive a $100 payment (after fees), the $100 will be held in a pending balance for up to 21 days. After 21 days, the money will be available for withdrawal.

 

[capnjuan]

I got a Christmas gift from Bank of America, issuer of my VISA card. In advance of the coming Federal regulations, they helped themselves to a 2.5% increase on outstanding balances ... despite the fact that I've had the card for 17 years, never missed a payment, and only run a modest balance. Nothing like being treated like a good customer.

 

[Jeff_L]

Read some of the stories here -

http://www.paypalwarning.com/

Then you'll know why lots of people, myself included, won't go anywhere near paypal. I quit selling on ebay when they forced me to accept paypal. If I can't sell my unwanted things locally I'll give it to the Salvation Army.

As for the credit card companies? Isn't it wonderful of our esteemed leaders in Washington to give them a nice lead time on the new legislation? They're all jacking rates and fees as fast as they can in advance of the new laws.

Jeff

 

[GuildFS4612CE]

Thanks, Frosty...praypal did not even bother to notify me of these 'changes'... :shock:

So they're busy floating our funds, yet again. :evil: