PayPal
Seller Payment Held 25 Days Then Reversed, $500 Lost
- 05-08-2008
- 25
PayPal is a so-called secure online payment system, but it is horrible and not safe for sellers, and not even 100% safe for buyers. In my most recent case, I received a payment from a buyer in Canada for merchandise sold on an auction site. All went well, and nothing was suspected in the payment. The buyer requested that I send the merchandise to the registered PayPal address.
PayPal held the payment 10 days after I received it and asked for details. I submitted all details, including the tracking number and the conversation with the buyer. The funds were kept on hold for 15 days, with the stated reason "Reviewing by PayPal agent." After 25 days from receiving the payment, the funds were reversed to the sender with no concrete reason. I contacted PayPal about it. PayPal said, "we do not cover all payment you receive and cannot extend seller protections."
I lost USD 500 and I curse PayPal every day. I hardly make 500 in a week, and it was lost in a second, caused by PayPal.
Do not trust PayPal, they are a nightmare.
Company: PayPal
Country: USA
State: Nationwide