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Is the 21 day hold really legal?

Can PayPal legally place a hold on money that came from selling an item on ebay?

I sold an item for $200 ($193.60 after palpal had taken their fee) and as soon as the buyer paid, PayPal placed it into a 21 day hold. I have a 100% seller rating and this is the first time I have been withheld from my money. I would have received a bad rating if I held off from posting the item until I had access to my money. Basically Paypal have found a way to give themselves an interest free line of credit and charge me a fee at the same time.

Surely this can not be legal? I didn’t agree to let them hold my money for 21 days when I signed up nor did they tell me they would.

Posted: December 8, 2014 at 7:07 pm

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