5 day waiting period

[BryanKnight]

Just had someone request an overnight and wanted to pay by PayPal.

Said he sent it, nothing appeared in my account.

After much back and forth I called PP and they said that the money was being held for 5 days before going to my account.

 

Never happened before, ever.

 

So I told the caller, "Hey, I'm sorry, this is what's happening, a 5 day waiting period is unusual and I cannot accept these terms from a new person."

 

He was really mad. I called Paypal and they said only he could have the money put back, or I'd have to refund as soon as it hit my space.

 

Any of this happened to you?

[+ nycman]

Cash is king.

[+ deej]

Another good reason not to use PayPal.

[LivingnLA]

PayPal likes to keep money so they can earn interest on it. All a scam.

 

Scam may perhaps be the wrong word, but the kinds of policies and rent-taking that PayPal engage in are definitely near the bottom of the financial services industry in my mind.

[MikeBiDude]

PayPal likes to keep money so they can earn interest on it. All a scam.

PayPal may have questionable policies, but how is making interest on money a "scam". Payroll services, credit card companies, held checks at the bank, it's pretty common to have a 3-5 day "float" on your funds deposited/withdrawn.

 

I guess I just take exception to the description "scam" in this context, especially how we usually describe scams on these forum.

[LivingnLA]

PayPal may have questionable policies, but how is making interest on money a "scam". Payroll services, credit card companies, held checks at the bank, it's pretty common to have a 3-5 day "float" on your funds deposited/withdrawn.

 

I guess I just take exception to the description "scam" in this context, especially how we usually describe scams on these forum.

 

Fair enough. I've had some bad experiences with PayPal in a variety of situations and there are plenty of news articles out there about PayPal's questionable activities, so I tend not to think well of them. Further, the founder, Thiel is a man of very questionable character in my glancing experiences. He and his company have always felt underhanded to me.

[MikeBiDude]

Fair enough. I've had some bad experiences with PayPal in a variety of situations and there are plenty of news articles out there about PayPal's questionable activities, so I tend not to think well of them. Further, the founder, Thiel is a man of very questionable character in my glancing experiences. He and his company have always felt underhanded to me.

All good, and btw I think we are all in agreement and have discussed using PayPal for adult services is a non-starter.

[+ SundayZip]

Waiting 3-5 days for payment to clear does not mean it's a scam nor does it mean a questionable practice by paypal. If you already have enough money sitting in your paypal account, your payee will get the funds almost immediately. But if you don't have enough money to cover the payment, paypal will use another payment method that you have linked to your account. For example, if you have your paypal account linked to your bank account, paypal will initiate a transfer of funds from your bank. If this happens, there's a wait period so that your bank has time to transfer funds. If I know that I'm going to use paypal and I want my payee to get funds right away, I make sure I have enough money in my paypal account before I send payment.

[rossthebosssf]

He is probably new to PayPal and is most likely "Paying by Check." If you're established with PayPal and have a valid credit card on file they will sometimes allow immediate payment if using a checking account. In the future, you may want to state to clients that they should use a credit card with a valid address that matches the billing address. You should not have an issue if you go this route. Though the downside is that you will need to pay the cc processing fees. I believe using the "Send Money to Friends or Family" which is fee free only applies to those who have a PayPal balance or are using a checking account. Also, I hope you have a separate email to accept payment. Whatever you do, don't use your "work" email. I know providers who have had their accounts frozen up to 6 months because they were able to Google the email and find their profiles online.

[Mocha]

I use PayPal. It's not a scam.

 

The best thing to do is get their business debit card. Then, make sure they aren't paying with a check because they will hold onto it for a few days. Let them pay with the card.

 

I can receive money from PayPal instantly and can use it instantly. However, most recently they've started doing stupid crap like blocking my card when I've been out of town without notifying them. Same crap Wells Fargo started doing. I hate that. Yes it's protection, but gee they don't even give a text warning...just cut you off assuming it's fraud.

[+ Eric Hassan]

https://en.wikipedia.org/wiki/Automated_Clearing_House

[jimboivyo]

Whether you use paypal or not, they still float money and they suck as a place to keep your cash

 

other said it already: cash is king

[marylander1940]

Just had someone request an overnight and wanted to pay by PayPal.

Said he sent it, nothing appeared in my account.

After much back and forth I called PP and they said that the money was being held for 5 days before going to my account.

 

Never happened before, ever.

 

So I told the caller, "Hey, I'm sorry, this is what's happening, a 5 day waiting period is unusual and I cannot accept these terms from a new person."

 

He was really mad. I called Paypal and they said only he could have the money put back, or I'd have to refund as soon as it hit my space.

 

Any of this happened to you?

 

No, I've never heard of someone having his money held by PayPal for 5 days but it happens on Ebay between commercial transactions that involve frequent sellers, I assume this wasn't the case.

 

If the money really was pending in your account it should appear something like this:

 

"Funds availability

Payments you receive from buyers will be held in your pending balance below. This money will be moved to your available balance and released to you in 21 days (as long as there are no problems with your orders). Learn more about your Funds availability details.

 

Tip: To get your money released in 7-14 days, ship your order quickly and mark it as processed by clicking Details below."

 

And below the transactions, buyer's names and date of release of the funds according to the "tracking" number by USPS

 

This is nothing but bullshit, the guy is a prick.

This means, he's nothing but all bullshit, keep an eye on your account, change your password just in case and keep and you'll be ok.

[instudiocity]

From the annals of the m4m-forum.org in 2011, none other than The Legendary Dave had his PayPal account permanently frozen.

 

http://m4m-forum.org/threads/how-many-escorts-use-paypal-or.79369/#post-706045

[BodeBrentwood]

Ive used both chasequickpay and cash. usually quickpay is an "emergency" thing

[jawjateck]

I use google wallet with trusted providers. Immediate transfer. No fees.

[+ WmClarke]

However, most recently they've started doing stupid crap like blocking my card when I've been out of town without notifying them. Same crap Wells Fargo started doing. I hate that. Yes it's protection, but gee they don't even give a text warning...just cut you off assuming it's fraud.

A lot of credit card companies do that.

 

It was especially annoying to me at IML trying to get my cards "unfrozen" so I could buy stuff. And good luck talking on the phone to clear it up--its too loud to hear the person from the credit card company.

[sincitymix]

He is probably new to PayPal and is most likely "Paying by Check." If you're established with PayPal and have a valid credit card on file they will sometimes allow immediate payment if using a checking account. In the future, you may want to state to clients that they should use a credit card with a valid address that matches the billing address. You should not have an issue if you go this route. Though the downside is that you will need to pay the cc processing fees. I believe using the "Send Money to Friends or Family" which is fee free only applies to those who have a PayPal balance or are using a checking account. Also, I hope you have a separate email to accept payment. Whatever you do, don't use your "work" email. I know providers who have had their accounts frozen up to 6 months because they were able to Google the email and find their profiles online.

not to mention if paypal suspects or gains knowledge of the fact that any funds being received are made from any sexual act, they will freeze and seize your entire paypal, including the money.