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I HATE PAYPAL!!! Reserves are killing my business!!!

Offline rulesforrebels

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #15 on: October 31, 2013, 11:06:25 AM »
If you had just sold $220,000 in a month (with a net according to RFR of about 10%) would YOU let other people here know what the product line was ? I know I wouldn't and that's why I never asked him. He won't tell anyone here about it that's for sure.  ;D

movieman has it right. nnobody with a good niche will ever tell as it just brings competition. i will say i dabble in silver a bit but honestly i dont mind sharing that because most people dont have the funds to get into buying and selling at a serious level and secondly its not really a secret everyone knows everyone loves silver. the margins are small so you gotta make money on volume but honestly ive seen some new sellers come to the market and rack up like 1500 feedback in a like a 10 day to 2 week period, obviously probably big shots like coin shop owners and stuff but still just shows you how well that stuff sells.

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #16 on: October 31, 2013, 11:08:57 AM »
Suddenly Paypal is holding my funds too. I didn't get the courtesy of a call or even an email.

one thing to check out is to find out if its a rolling reserve or if its jjust the standard 21 day holds. if you have a rolling reserve you should see a pretty noticable bar at the top of your main paypal screen. ill attach a screenshot to show you.

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #17 on: October 31, 2013, 11:14:10 AM »
Yeah, I guess I wouldn't tell either.  Mostly I can't fathom the work involved if not drop shipping. I would imagine it's something pre-boxed that just requires slapping on a label but even so....

the work involved isn't bad. i dont sell anything prepackaged so its me counting out items and individually packing orders. obviously though certain things sell better than others so most items are the same and its easy to get into a roll and fly through them. i would say an hour or two of packign orders a night for myself probably about teh same for my partner. honestly teh biggest headache is not the packing but customers emailing and calling an hour after their purchase asking where the item is, where is tracking, people buying and then wanting to switch up their orders, etc. the customer service end is the biggest pain in the ass actually packing orders isn't too bad

Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #18 on: October 31, 2013, 11:40:14 AM »
one thing to check out is to find out if its a rolling reserve or if its jjust the standard 21 day holds. if you have a rolling reserve you should see a pretty noticable bar at the top of your main paypal screen. ill attach a screenshot to show you.

No it's the standard 21 day reserve. All of a sudden, I've got holds for items when I have been selling on ebay semi-aggressively for months now.

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #19 on: October 31, 2013, 02:11:15 PM »
No it's the standard 21 day reserve. All of a sudden, I've got holds for items when I have been selling on ebay semi-aggressively for months now.

give paypal a call and report back, curious to hear why. when i talked to the lady who put the hold on my account she said it was flagged not just because of my category but moreso because the volume we were doing, i guess over a certain threshhold they look into your account. thats wierd if you dont have that info bar notifying  you of a hold they should call and email you as well

Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #20 on: October 31, 2013, 03:38:39 PM »
When I did call Paypal regarding the hold. They told me that it was because the items sold were listed as high risk due to forgeries. I didn't think it was up to Paypal to decide what items are more susceptible to being forged.

The items that were held was a Woodrow (Appalachian Bluegrass Instrument) and a brass trivet from Virginia Metalcrafters.. Nothing crazy..

It's not killing me that they're being held, but still.. it's principle!

Offline Cobia

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #21 on: October 31, 2013, 05:01:42 PM »
give paypal a call and report back, curious to hear why. when i talked to the lady who put the hold on my account she said it was flagged not just because of my category but moreso because the volume we were doing, i guess over a certain threshhold they look into your account. thats wierd if you dont have that info bar notifying  you of a hold they should call and email you as well

Probably think you are laundering Columbian coke money to buy Russian RPGs for Islamik terrerists (misspelled on porpoise). We all live in a bad Tom Clancy novel now.  :-[

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #22 on: November 01, 2013, 01:32:47 PM »
When I did call Paypal regarding the hold. They told me that it was because the items sold were listed as high risk due to forgeries. I didn't think it was up to Paypal to decide what items are more susceptible to being forged.

The items that were held was a Woodrow (Appalachian Bluegrass Instrument) and a brass trivet from Virginia Metalcrafters.. Nothing crazy..

It's not killing me that they're being held, but still.. it's principle!

okay yeah figured it was something like that. basically anytime you sell autographs, designer handbags, silver, sports memorbilia, etc stuff like that lots of fakes and counterfeits so they hold a good percentage or most in escrow unil they are sure the buyer is satisfied. even the most established seller with best policy compliance cant get around this stuff. yeah that sucks.

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #23 on: November 01, 2013, 01:34:50 PM »
Probably think you are laundering Columbian coke money to buy Russian RPGs for Islamik terrerists (misspelled on porpoise). We all live in a bad Tom Clancy novel now.  :-[

lol thats funny but sadly true. ever since the patriot act and banking secrecy act and all this nonsense theres new and ever changing financial rules and it causs huge pains in the ass for legitimate businesses. this frank dodd crap is going through now and doing wires for product is becomming  a huge hassle banks dont wanna do big wires, wanna shut down your account if you do wires, wanna charge you hundreds a month for some premier account you need to do wires. there was recently pretty big news about chase sending letters out to all small business customers about wires and other rules.

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #24 on: January 03, 2014, 02:11:05 PM »
Hey guys, just wanted to report back on what happenned. I was really concerned this was like the end of my business or I'd only be able to sell the first week or two of the month and then stop for the rest.

I was able to raise my prices. I also found a cheaper supplier. This allowed me to make 20% margins so what paypal is holding is my profits but not my operating cash. I did lose a little business due to the price increase but most customers stayed with me as I'm the best and most professional in my field not only my ego talking but customers have said the same. Others wait a week to ship, dont pack items as well as i do, poor communication, etc.

January 20 I start getting my holds released and then moving forward its justs profits held.

Offline Travis

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Re: I HATE PAYPAL!!! Reserves are killing my business!!!
« Reply #25 on: January 03, 2014, 05:12:59 PM »
My rolling reserve just passed the 90 day threshold, so now the funds are being released daily. I had to tighten my belt for a few months, but I supplemented my income by purchasing more storage units than usual. Now that the 20% holds are being released daily, it's almost like things are back to normal.


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