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From: David Farber <dave () farber net>
Date: Wed, 27 Aug 2008 08:23:10 -0400



Begin forwarded message:

From: Phillip Jackson <pjackson () chesapeakeimaging net>
Date: August 26, 2008 11:05:47 PM EDT
To: dave () farber net
Subject: PayPal

Dave:

I'm pretty disgruntled and disgusted with PayPal's new policy related to transactions made via eBay. Specifically payments made to the seller are "held" up to 21 days OR until the item is confirmed delivered (by using the channel relationship with UPS, FedEx, etc) AND positive feedback is left by the buyer. I just shipped several thousand dollars worth of goods to a purchaser - those goods are confirmed delivered and the customer has left positive feedback on eBay. Apparently it is up to the discretion of PayPal to release the funds at this point, though they can still "hold" the funds for the remainder of 21 days. It seems this is a wonderful way for PayPal (and eBay, consequently) to capitalize on interest being generated by said "held" funds. It also seems this new practice protects the purchaser far more than it does the seller. I also am entirely amused by the fact that neither PayPal OR eBay notified it's users as to this policy change.

Regards,
Phil

--
Phillip C Jackson
CEO & President, SecureRAD LLC
122 Defense Highway | Suite 228 | Annapolis, MD 21401

Tel: (202) 841-0090
Fax: (443) 926-9340
Bridge: (616) 712-8000, 820991#




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