Paypal - After how long do you think money you've received is 'yours'?

I now know the answer having entered a 'dispute resolution'
I'll let this run and give you the right answer at the weekend.

 

my brother used to use paypal for his business until they froze his account with £6000 in it. when he asked why they told him they are investigating the unusual amount of activity; he sold lots. they found nothing and gave no other explanation and they are now releasing it in £500 increments every few months. needless to say he no longer uses paypal.

 

That's outrageous!

 

yup, but it's all hidden in the small print somewhere.

 

When it's playtime lets go and get them and duff them up!

 

I have heard of people selling stuff (expensive stuff) in good nick. The purchaser then claiming its damaged and they then deduct the money so the seller loses the goods and what they got paid for it. I only use paypal as a buyer.

 

I only use the pay by card without logging in option and never accept it.
Someone phished 1p in my account and it turned into a nightmare of hours of security to try and use it so I gave up.

 

Paypal does my head in but i still use it from time to time

I bought an intercooler of a guy that was described as in new condition
When it arrived it had mounting tabs snapped off it and all the fins were dented and battterd
I contacted the seller and told him and he said tough Marmite
I opened a dispute through paypal sent them pictures and explaind the problems
They wanted an official engineers inspection and report to be done and sent to them before they would reimburse my money

 

I sold an old secondhand caravan back in February.
PayPal have this week reversed the payment without even telling me, no dispute resolved, nothing, no warning.
I now have to plead MY case to their credit card company to get the money.
Apparently they can do this up to 540 days after the sale!!!
540 DAYS!!!!! FFS!
No more Paypal for me! Never, never, never.
(Insert mucho swearing here!)

 

Sorry to swim against the tide but I've never had a problem with PayPal.

 

WTF

What reason did they give you dude??

 

Why would a "bank" behave like this I wonder? I guess because their business model doesn't work, there overheads too high and the whole thing is based on a swindle. They have cash flow problems and your money at any excuse will do nicely thanks. Not that I'm cynical about the finnancial sector...

 

hmm, does seem that they can do whatever they like. i think there are alternatives to it but not as well known. will check with brother.
that absolutely stinks but they seem to have it all sewn up.

 

You are all aware that eBay owns PayPal right?

 

I don't believe they're actually a bank, so banking rules don't apply.

I've never had any trouble with them, but I'm well aware of the fact that they can hold on to your money. It comes straight out!