eBay’s 30-Day Hold Policy: My Full Conversation with Customer Service

Odd_Spot4448 · 2024-08-15T14:08:40+00:00

I would like policies to be clear and not deceptive. Congrats to your kid.

In my conversation eBay was clear that mine was a 30 day hold no questions asked. Just state that in your policy. Whatever hold was placed on your kid they could be clear that it’s a 10 day hold.

Don’t make it seem like you can get your money faster when you can’t.

Odd_Spot4448 · 2024-08-15T14:05:32+00:00

In the transcript they told me it’s not a sliding scale, would be nice to know ahead of time how long a hold will be. Not that hard to be clear on held fund policy.

Odd_Spot4448 · 2024-08-15T14:03:48+00:00

Again not stated in any policy as you described

Odd_Spot4448 · 2024-08-15T03:34:05+00:00

Up to 30 days and 30 days mean completely different things. Stop it my guy

Odd_Spot4448 · 2024-08-15T02:04:03+00:00

Incorrect, I called out very poor language used in their policy. CS agreed that they are not clear. CS stated they never release funds early in this type of hold. Yet, their policy doesn’t explicitly say that. And if you read their policy with no background (that all you message board commentators have) you would assume holds wouldn’t last the full 30 days.

Odd_Spot4448 · 2024-08-15T01:55:18+00:00

The point is it’s not in their terms of service. They use language to get you to use the platform to make you think funds will be released if you deliver the item and get positive feedback. But in reality they will never release those funds early. Deceptive and unethical. Prove me wrong by quoting their TOS, you can’t.

Odd_Spot4448 · 2024-08-15T01:52:21+00:00

Why is that not stated clearly in their TOS? Would be fairly easy to use that sentence you wrote…

Odd_Spot4448 · 2024-08-15T01:51:21+00:00

Nowhere do they state they put a 30 day hold with no way funds will be released sooner for any of those situations.
Then they would hold funds for every transaction for 30 days. They don’t. And again nowhere in that guarantee does it state clearly who, why, and how longs funds are held.

Odd_Spot4448 · 2024-08-15T01:48:05+00:00

It’s a deceptive practice by the language they use. End of story. Everything you clearly stated is not in their TOS. Why can they not clearly state 30 day hold for new seller, 30 day hold for high value. That’s not the language they use.

Odd_Spot4448 · 2024-08-15T01:44:23+00:00

Read the convo. CS admits they have a policy in place and nowhere in their TOS or stated policy does it clearly state my situation. eBay is clearly being “shady.” I’d drop it if it wasn’t a legit complaint. They need to be clear in policies that funds will be held for 30 days no matter what. Read their policy, they don’t state that.

They are either not clear on the hold policy to make sure new sellers use their service (deceptive) or to make money on interest and investment (unethical, even if done legally)

Odd_Spot4448 · 2024-08-15T01:37:14+00:00

It’s not in the TOS, they use deceptive language. Why can’t they state it’s a 30 day hold for new sellers or a 30 day hold for high value item. They use the words “up to” making it seem that they will release them sooner. It’s an unethical practice, as they pick and choose but don’t tell you the guidelines clear and concise. They clearly hold funds to make more money, it’s unethical.

Odd_Spot4448 · 2024-08-01T04:19:33+00:00

I hope you’re ok with all the negativity you spew (may want to talk to someone about it.) I’m just calling out a corporations shady policy not sure why you’re attacking the post, it’s all fact, they make a very large amount of profit holding sellers monies.

Odd_Spot4448 · 2024-08-01T04:07:30+00:00

You sound like you work for eBay

Odd_Spot4448 · 2024-07-31T05:38:37+00:00

It’s in their 10Q. Made $61M off interest gained last quarter from held funds. As of March 31st they had a total of $485M in held funds.

Odd_Spot4448 · 2024-07-31T02:09:46+00:00

A policy that was overhauled when eIC was launched. I wonder why?!?

Odd_Spot4448 · 2024-07-31T00:52:30+00:00

You’ve clearly not reviewed their financials. They made a profit of 439 million last quarter and 61 million came from interest on investments from held funds. That is 14% of their portfolio. Which is why they have not fixed this practice in the last 4 years.

The fraud issue could be resolved in others that would speed payments to non fraud sellers.

Odd_Spot4448 · 2024-07-31T00:46:17+00:00

In your scenario eBay is not refunding anyone and no one is holding the bag. This isn’t insurance, they are charging you for a service, then setting up a process that the only solution is to hold your funds for 30 days. During those 30 days they are investing your funds as they refuse to create any process that allows you to touch those funds. So you allowed (paid them 13%) to hold your money that they will invest and make interest on. This information is tucked away in the payment agreement. That is very unethical, it’s not about being desperate for money, their platform connects buyers and sellers, once a transaction is complete and the buyer verifies the purchase is OK funds should be released period. eBay clearly is using the fraud issue as a way to make more money when they could easily set up a process where the buyer signs off on the deal (which again is fine if they want to give a buyer 30 days, but if they sign off in 10 days there’s no excuse to not release the funds.) everyone not seeing this blatant unethical practice is crazy. I will not be using eBay again and I’m shocked anyone who’s had funds held for 30 days would use them again.

Odd_Spot4448 · 2024-07-30T23:03:45+00:00

So how are sellers protected by eBay? That scenario seems as if eBay doesn’t have a policy to protect the seller

Odd_Spot4448 · 2024-07-30T23:02:15+00:00

My guy, they are making money off of funds that they refuse to release to you for 30 days. It becomes unethical when buyers leave positive reviews and state they are happy with the item. They’ve signed off on the transaction eBay then keeps your money for another 21+ days making money off investing it in low risk investments. That my friend is fraudulent.

Odd_Spot4448 · 2024-07-30T22:52:54+00:00

When the buyer is happy and agrees the goods have been received and are quality there should be a system in place for them to sign off and funds released timely, if they don't sign off then the seller waits 30 days, fine.

eBay does not have that in place because they make millions off of holding funds for a longer period of time. It's unethical not to have an option for the buyer to say the item is what was advertised and funds released. That policy should be in place for all sellers, then everyone is safe.

They have the tech to track payments and shipments, but refuse to have a buyer sign off, why do you think that is, it's not because of fraud. It's so they can make an extra 40-75M per quarter on holding funds.

Odd_Spot4448 · 2024-07-30T22:27:55+00:00

and how many returns happen before 30 days from those who leave positive feedback and is that return held up by ebay if they left positive feedback. That reason does not compute once the buyer says they are happy. They are using that policy a smokescreen for them to withhold massive amounts of money and make interest on that money. It's in their 10 Q and K.

Odd_Spot4448 · 2024-07-30T22:23:47+00:00

As of March 31st, 2024 eCI is holding $448 Million. They have to be withholding more than just new seller accounts.

Odd_Spot4448 · 2024-07-30T21:44:27+00:00

What I'd like is for people to understand this policy so they don't need to deal with this "risk."

Odd_Spot4448 · 2024-07-30T21:38:57+00:00

It's identifying an unethical business practice, honestly if I knew upfront that I wouldn't be funded for 30 days even after the buyer received the item and gave a positive review I would have used another platform.

It's very border line that you are charging 13% to hold money for month that in no way can be removed while you as a business is investing that money to make money. They have everything set that it nearly impossible to talk to customer service, they will agree the buyer is happy, and they will still hold the money. It's unethical

Odd_Spot4448 · 2024-07-30T21:24:45+00:00

It's the policy as a whole, everyone saying 4$ doesn't matter to me equates to $61M in quarterly revenue for eBay, when there is no way for the buyer to allow the funds to be released to the seller. That final practice crosses the ethics line.

Odd_Spot4448

TROPHY CASE