Paypal is a squeeky Robot !

[ameroindustries]

Paypal whats up with them . I quit selling on ebay 5 months ago .. they are still holding over 50 thousand in reserve of my money (Lost 2k in exchange alone) .. they say after 180 days they will review and MAYBE release ... Like w t h not a dime has gone in my paypal since early october . (nor are any claims open since then)

I still have to wait till end of April to get the money . It should not be legal .

So sad whats happened with ebay im glad i sold out when i did . Switched from ebay to Oil hahah chaaaa ching 😛

[dipmicro]

Amero, you should have enough pocket change to pay the attorney to call PayPal attorney, financial regulators and other bodies that can do something about it.

Because nobody reading this forum can.

[dipmicro]

Btw. Shawn, what are you up to these days ? Just relaxing after 2 years of eBay BS or running some other business now ?

[dipmicro]

Drive-by posting :^O

Anyway, I wish I had OP's business skills.

Btw. what is this PayPal reserve, can anyone comment ? We currently do not have any cashflow in PP reserve, but I would like to be prepared when they set it up on us. At what gross sales is this reserve setup and how it work ?

[zarzuella]

All the dirt on rolling reserves:

https://www.thepaypalblog.com/2009/06/seller-reserves/

Ann

[dipmicro]

Ann, great info, thank you !

1-5%, that's not so bad, it would be lethal if they locked 10 or 20%. I believe banks also require reserves from merchants accepting credit cards.

[coxengines]

Dip,

When applying for a merchant credit card account (with any processor) it is customary for a provider to impose a RMRF (Rolling Merchant Reserve Fund), the percentage and duration contingent on perceived risk.

This only applies when you accept credit cards as payment method.

When we were looking for a merchant bank Paypal offered 10% / 90 days and we took a pass. Our current provider offered 0% / 0 days for our type of business.

Bernie