I got an email today about a "Funds Now" feature where paypal is claiming they "won't hold or delay your funds, even during a dispute."
I've heard horror stories over the years where paypal would arbitrarily freeze someone's paypal money and not release it for months--or longer, and in some rare cases, never.
Is this their attempt to stop doing that?
pasted_image (resized).png
Paypal didn't abide by it's own user agreement in the past in regards to holding money, so I have no reason to believe they will now.
Quoted from Manimal:I'm betting the fees for this are steep
No additional fees, as far as I can tell.
My inability to gift out funds that were in my paypal account one time, and hours on the phone with representatives telling me to try again, it should wotk now but didn't, tells me all I need to know about how they run their business.
Quoted from o-din:Paypal didn't abide by it's own user agreement in the past in regards to holding money, so I have no reason to believe they will now.
+1
Took me over 60 days to get a recent dispute cleared up, guy was a FIRST TIME USER and I've been with Paypal for about as long as they have been around.
I'll believe it when IF I see it.
I’ve had PayPal since the beginning of time. I am constantly using it on eBay and other sites. The one work around on eBay I have found some sellers doing is when you buy an item and then the seller (I assume) flags their item for removal so you can’t dispute it. So when you go to your purchase history you can’t even access the item. I think it is also a work around for some sellers that sell things that violate Ebay’s terms agreement. For example: I bought an SD card loaded with ROMS on it so that I could build a multicade. Selling ROMS violates their agreement so the seller does the work around of canceling the auction or selling just the card and the “free” service of adding the ROMS. Thankfully I’ve never been screwed.
Never had an issue with Paypal holding funds, and I have done thousands of transactions both ways. I think it is something that applies more to new accounts and accounts that are not linked to a normal bank account. Just do not sell over $12k a year, or you are going to get a 1099. Especially important to keep in mind if you are brave enough accept Paypal for machine sales. That is one thing I do not do.
Quoted from JodyG:I think it is something that applies more to new accounts and accounts that are not linked to a normal bank account.
Yes, if you choose not to link your bank account they throw their user agreement out the window and make up rules to hold your money as they go.
Quoted from JodyG:Never had an issue with Paypal holding funds, and I have done thousands of transactions both ways. I think it is something that applies more to new accounts and accounts that are not linked to a normal bank account. Just do not sell over $12k a year, or you are going to get a 1099. Especially important to keep in mind if you are brave enough accept Paypal for machine sales. That is one thing I do not do.
You have to hit $20k AND 200 transactions for a 1099 to initiate.
Quoted from inhomearcades:You have to hit $20k AND 200 transactions for a 1099 to initiate.
I don't think it's AND, it is either 20k or 200 transactions....
Wanna join the discussion? Please sign in to reply to this topic.
Great to see you're enjoying Pinside! Did you know Pinside is able to run without any 3rd-party banners or ads, thanks to the support from our visitors? Please consider a donation to Pinside and get anext to your username to show for it! Or better yet, subscribe to Pinside+!
This page was printed from https://pinside.com/pinball/forum/topic/paypal-funds-now-feature and we tried optimising it for printing. Some page elements may have been deliberately hidden.
Scan the QR code on the left to jump to the URL this document was printed from.
KS