Starting today, we will no longer oblige our sellers and confirm blocked PayPal payments from our end. We realize this may cause some of you to get angry with us, but please listen to our side of this issue.
First and foremost, we waive our rights to file a dispute when we confirm payments. This is a huge issue for us, especially for transactions where the seller is new and untrusted.
The second issue is that even if we’re able to file a dispute, we’re generally on a losing streak because we confirm the order/service as “complete.”
Third, we’re getting a little fed up with new sellers who set up their 15th PayPal account under the name (for example) KEK Industries, never verify it, and then wonder PayPal won’t release them their 800 USD payment.
PayPal is a payment merchant, it almost acts like a bank. They worry about being conned too, so that’s why they hold payments for 7-21 days. Sellers need to be aware of this, and factor in the wait time into their transactions. If sellers are not OK with this, then the easiest solution is not to use PayPal for your transactions.
Fun fact, PayPal has been on a decline on SWAPD and is no longer the most preferred method of payment on our website. Currently, it only amounts to 1/4-1/5th of our payments, with TransferWise taking the lead. If you don’t want PayPal holding your funds, we suggest you switch.
Thank you for understanding.