Paypal changes payment holds for new sellers
In truth it’s not so much of a change (we’ve been familiar with PayPal payment holds for some time now), but what the announcement does lay out is, from the 15th of July, exactly what the criteria for holds will be:
- Starting on July 15th, access to your buyers’ payments in PayPal may be delayed by up to 21 days. This applies to you if you’re a new seller and you’ve been selling on eBay.co.uk for less than 90 days, you’ve made fewer than 25 transactions in total or you’ve generated less than £165 in total sales.
- Your buyers’ payments in PayPal may also be held if you’ve previously been suspended or are currently below standard.
- You can access your PayPal funds earlier by uploading tracking information and indicating when your item has been dispatched.
eBay and PayPal’s policies are designed to support both sellers and buyers and to ensure a positive and safe shopping experience.
eBay place a limited hold of only three days after delivery if you meet their criteria, longer holds are only applied when best practices aren’t followed. eBay’s goal is to ensure sellers get their money quickly which can be as soon as three days after shipment is confirmed. eBay say that their policies aim to benefit top sellers who provide excellent service and to provide buyers with better experiences through faster shipping and outstanding customer support.
eBay told us “We are proud of our track record, which has created an overall positive and safe experience using eBay and PayPal. Bottom line: when buyers are happy they come back to eBay and spend more. Sellers are uploading tracking information 10 percent more often as a result of our policy. Buyers have a better experience when they know when to expect their item.”
“Buyer protection policies, including holds, help provide a safer, more trusted shopping experience. We’ve seen that holds reduce the number of claims filed by buyers by 25 percent. And when buyers do file a claim, the holds policy has improved the likelihood that the buyer and seller resolve the issue”.
“We are constantly working to improve the experience associated with holds and carefully review these cases to ensure we’re creating a safe and successful environment for all of our customers“.
So will this protect the sellers from false claims from buyers?