I'm currently being held hostage by the Amazon.com "hold seller funds" scam. I have sent them tracking information, have no negative feedback and have shipped 26 orders almost all on the same day of the purchase. Account has about 3k in it now and Amazon will not respond to my messages even though it's been 35 days since my money has been held. Their scam appears to originate from this section of the "Participant Agreement" which is subject to change without notice of course:
Section 5m of the Participant Agreement states:
We may earn interest or other compensation from the balances in our bank accounts that result from the timing difference between our being paid by Buyer and our bank account being debited to pay Payment Transaction credits to Seller.
This means that the longer they can keep our money in their accounts, the more free money they earn by having interest accrue. So it only makes sense to hold seller's funds for up to 45 days. Think of all the extra free money that they're getting based on thousands of accounts on "hold" status for 45 days!
I don't know if there are currently any class-action lawsuits that have figured out this scam also, but if there are, COUNT ME IN!!! Who knows when or if I'll ever see my money.
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