New PayPal Policy Changes?

Hey guys I just read that PayPal will be instituting a new policy that if you make less than $20,000 in sales they hold payments for 21 days! yup you read it correct. If you want head over to Auctionbytes to check it out. I suggest more people start signing up with PayMate and Moneybookers. Before they start this!

Thanks for sharing this Don - this is something awfully BIG!

Here's the link:

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We tried checking out any possible leads or announcements by both eBay or PayPal on this but couldn't find anything yet...now is probably the best time to explore other 3rd party payments processors. Good luck to us all!

Cheers!

No problem Richelle!,

Yes I thought this was very important to share because this basically would paralyze a big chuck of ebay sellers.

Now that sort of policy is really going to increase their market share!

My suggestion to this situation is get a Paypal Debit card. (Its free)


John (aka bacpro)

Can you elaborate on how the Paypal debit card solves this issue?
Thanks.

Simple, You can use your debit card anywhere, the money you have in Paypal is available the minute you get it from a sale. Sure if you want to transfer some money from paypal to your bank it takes a few days but when its in your account in paypal you can use it right away. With a debit card.

John (aka bacpro)

Hi Bacpro,

Just so you know the hold for 21 days bit means that you do not have access to those funds. Meaning if you have a debit card those new funds are not available to you for 21 days.

Hope that helps clearify.