Paypal Question: Hold Money or Ship Now

  1. Question....my policy has also been to ship as soon as payment clears into paypal (as soon as it shows 'completed' on my account overview page).

    Well...in the past I've heard horror stories of people's accounts being frozen, not getting funds, etc. I shouldn't have any problems with that (I was told by paypal I have no limits on my account since I've been a member for 6+ years).

    With large dollar amounts I think I would probably wait the 2 days for it to clear into my bank account (just in case)....but for smaller things....is it worth it to wait?

    What do you all do? Especially those of you who sell high $$ things? Do you state to the buyer when you'll ship?
     
  2. I ship as soon as I get paid. I do immediately transfer the money as well. I don't think paypal can stop the EFT once it is put into action.
     
  3. I ship upon receipt of the paypal payment (or when funds clear in the case of an echeck).

    I also tranfer funds from my paypal account to my bank account immediately. I agree with Lulilu on the EFT issue.

    HTH :smile:
     
  4. Well..I personally know of one case where they froze her account (I happened to be the buyer) because she was relatively new and they were trying to stop counterfeiters. But it was also a non-eBay transaction.
    So maybe it's not an issue if it's always associated with eBay sales!
     
  5. No they cant stop it but you have to be right there to get the $ out so they dont get in to your bank account first and suck the $ out.
     
  6. I ship upon receipt of CLEARED payment.
    But I also take my money out the same day too. Lately, BTW, PayPal has been quick about the transfers out, which is nice.
    Because I am dealing in very high dollar items, I watch my auctions like a hawk, so I am nearly always right at the computer when someone pays me.
     
  7. i have sold a many high priced items on eBay and have shipped once payment says completed/cleared and have not had a problem.
     
  8. Huh? How can they take funds from your bank account without authorization? That makes no sense whatsoever...'m confused.
     
  9. They can't take it from your bank account. They can freeze your Paypal account though, and if you don't pay up they do take legal action. Speaking from experience.
     
  10. oh....OK I knew that..ut that is only if the person does a chargeback or something!
    I'm referring to actually moving money from paypal into your bank account.

    Yea...right now the money is moving quick. It's showing up in my account 2 days later...but showing completed on the paypal side after only 1 day! Which makes me feel a little better because I usually send out 24 hours later.
    I really need to get my debit card back! I cut it up forever ago!
     
  11. Paypal cannot go into your checking account and take money out, but they can REVERSE a transaction. For example, if you withdraw 200.00 from your paypal to transfer to your checking and it arrives at your bank but is not posted yet into your checking account, and the bank receives a pp reversal notice, the money is sent back to paypal. Happened to me recently. They reversed 200.00 and froze it along with 300.00 that had just come in to my paypal account.
    Get your money out of paypal ASAP and ship once the funds show up in your checking account. Then take the funds from your checking account and immediately transfer online to a secondary checking account at the same bank.
    Never use your pp tied checking account as your main checking. You are asking for trouble if you do. Most banks have free checking so be sure to set up a checking account strictly for incoming paypal transfers. Then transfer it out as soon as it arrives.