Paypal holding money earned from PS3/Wii sales until item ships??
Written by Dan Zuccarelli   
Friday, 27 October 2006 08:54
logoEbay_150x70.gifComing as a bit of a suprise to those people selling their PS3's. Now that the first round of auctions are coming to a close a new wrinkle in the eBay console sales seem to be creeping up. It would seem that after receiving money in your paypal account from the sale of a PS3 or Wii, you cannot withdraw said funds until you supply paypal with a tracking number confirming shipment.

Here's the skinny the person it happened to:

“So I listed my PS3 on eBay 3 days ago and last night it finally sold for $2025. Immediately the buyer paid me in full via PayPal, as per eBay’s requirements I had to take PayPal as my only method of payment.

Today I got a call from PayPal. They wanted to confirm that I sold a PS3 on eBay and that it went for $2025. I confirmed it was correct. Then they tell me that the reason for the call is to inform me that they have put a limit on my account until I ship the item. They also said I could continue to receive payments and add money to my PayPal account, but I could not spend any money from it or withdraw funds until the 17th or when I provide a tracking number proving that I have shipped the goods.

In the end eBay forced me to take PayPal for my PS3 listing and there is nothing I can do. PayPal isn’t regulated like banks so they can get away with this kind of thing.”

It may seem like a bit much on the part of eBay and paypal, but in all honesty it really does help protect the buyer. Now people won't be able to get away with selling pictures of the system or an empty box. Is there a purely selfish reason eBay would do this?


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written by K3V, November 01, 2006
One answer for that could be the ridiculous amount of money ebay already makes with auction charges, but they also take a percentage from paypal transactions. With the PS3s and Wiis guaranteed to go for a lot of money per unit, by forcing people to only use paypal, they're sponging as much money as they can out of the transactions.

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