Apparently ebay and paypal have a new way to ripoff the sellers.
I was unaware of this procedure, and had I been aware of it I never would have listed a guitar on there last week.
It is a fine guitar (see item # 330386952014) and it lasted a little over a day before someone took the "buy-it-now" option.
Awesome! What a wonderful thing ebay is!
But, lo and behold, paypal says it will hold the funds for 21 days--in case of a dispute.
Huh? Hold my money for 21 days?
WTF? This was never mentioned in the T&C I read when I signed up for ebay and paypal years ago. I don't use ebay a lot, and I understand that policies change, but this is not a trivial change. I never saw any notice that this would happen. Do I need to read the fine print each time before I do a transaction on ebay? How many more of these kinds of "screws" will ebay implement whenever they get the whim?
The thing is, I have a 100% positive feedback, have never had a dispute and I am a "verified" paypal account holder.
I just got off the phone with paypal and they said it is an ebay "requirement." I called ebay and they said "paypal is holding your money." OK, so here we go with the run-around. This looks familiar. Part of their criteria is that the seller should have more than a score of 100. I don't use ebay that much. In 5 years I've had 49 transactions--all positive, by the way. I'll be using them even less now.
Ebay explained to me that this is "for the benefit of both the buyer and seller."
I said, "that's just stupid. How is that a benefit to me?"
She repeated, "well, sir, it protects both the buyer and seller."
To which I retorted, "so, what you are saying is that transactions on ebay are so likely to be fraudulent that you have implemented this policy as a way to curtail dishonest behavior?"
"then what other possible reason could there be that you would need to do this?"
So I asked what the criteria are for funds subject to a hold. She stammered around under my rapid fire line of questioning and eventually used the word "random."
"Ohhhhhhh, so it's 'RANDOM?'" I said.
She halted and then said, "well, not 'random'..." (etc BS BS BS.)
Oh, and guess what? They are not paying me interest on the funds. But I'd bet my house they are making interest on the funds during this time.
Here is my plan of action.
1. Never use ebay again. "Foxtrot" 'em and the horse they rode in on. I can get along just fine without them.
2. Look into whether this is even freaking legal. It's just plain highway robbery.
I can't remember the last time I was this pissed. And they have me by the curlies. There ain't a damn thing I can do about it other than steps 1 and 2 above.