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PS3 and Wii sales on eBay get their PayPal accounts frozen |
Listed in: Wii, PS3 Tags: eBay, PayPal
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Uh-oh...this seems like some big trouble. We've gotten word that PayPal has put a hold on all the funds from PS3 sales via eBay. Well, at least until November 17, or until the seller can provide PayPal with a tracking number. This means that even qualified PS3 and Wii sellers won't be able to access their funds for at least a month, since PayPal is the only payment option allowed for these products. There was this seller who had been with eBay since 1998 and with PayPal since 2000, and according to him, he got a call from PayPal, asking for confirmation if he did sell a PS3 online for US$ 2025. To his surprise, he was informed that a limit's been put on his account until the item's been shipped.
Furthermore, while he could continue to receive payments and add money to his account, he could not, for the meantime, withdraw funds or spend any money from it. As mentioned earlier, this lockdown is effective until November 17, or until he's provided a tracking number as proof that he's already shipped the goods.
So now, sellers are trying to find ways for them to get to auction or sell their consoles. However, apparently, they'd still be tied down by this new policy of PayPal. While it is understandable that PayPal needs to have the transactions secured, it's also understandable why customers will be put off by the sudden implementation of this policy. After all, they weren't even given fair warning that something like this would be put in place.
So, for all you future sellers out there, just make sure you work well within the requirements so that you won't have to be hassled expecting money that you can't touch.
Via consoleconnector
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Think about it! Where is the money? It's in paypals bank account making interest for them while you can't do anything about it. If paypal is going to attempt to take the roll of a bank the should be bound to the same laws of a real bank.
I hope paypal gets sued and shut down, Crap if you do a google you will see all kinds of stories about people that get large amounts of money that are breaking no laws get there accounts frozen for long periods of time while the suck ass paypal makes interest off it the entire time and not paying the locked account holder for the inconvenience.
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