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It's a typical setup, PayPal even have the automated daily bank withdrawal for merchants. What you probably fail to mention or notice that the company transferr
by maxgashkov 4y ago
It's a typical setup, PayPal even have the automated daily bank withdrawal for merchants. What you probably fail to mention or notice that the company transferred the money once they clear the mandatory hold window.
Exact width of the window may be adjusted case by case and depends on the stuff you sell — e.g. if it's digital goods with immediate delivery it may be shorter, if it's physical goods it may be certain amount of days after delivery verified by tracking number. In my case I was working for a company that provided proxy auction participation support, PayPal forced 30d non-negotiable hold on all our transactions.
So, you may transfer it every night, but it's safe to assume that 25-100% of your monthly revenue going through PayPal is sitting there at all times.
- 35mm 4y agoEven if you withdraw it, they can still come after you to get ‘their’ money back. PayPal (in the UK at least) requires a direct debit authorisation to be able to withdraw funds to a bank account. Part of that agreement is that they can also take money from your bank account if they decide to. My experience with this is that I sold an iMac on eBay, then a week later PayPal informed me that the person who paid in fact has stolen someone else’s login, and so they sent a debt collection agency after me to make me refund the money, even though I no longer had the iMac.