posted on January 21, 2002 11:26:26 AM new
I use my PP Debit Card as a way of confirming on sites throughout the net (including the "permisson" to post here on AW.)
Usually, when they confirm your card, they make a $1.00 charge on it, and it appears as "pending" on my PP account.
Problem is that I have $32.00 worth of this "pending confirmations" on my account, some even go back as Jan 3rd (the AW one)
When will these funds are going to be cleared and returned to my balance? I read somewhere that usually after a week or less, but this obviously isn't the case (see above)
posted on January 21, 2002 11:47:39 AM new
mci/worldcom.gas stations do that too,and they are usually reversed as the real charges come thru.
dont know aboutjust checking your status.you have to ask them.
posted on January 21, 2002 11:50:04 AM new
According to PayPal, unless the merchant faxes them a letter authorizing the removal of the hold, it will stay there until a month after it was placed. My credit card company removes holds after 5 days if the charge didn't go through, so it is unclear to me why it takes paypal a month to remove them, but it seems that it does.
posted on January 22, 2002 03:14:37 PM new
I have the same question... I have a cleared payment and one still "pending"! I need this cash... Damon, what do I need to do to get the pending changed to cancelled? This looks like a way for Paypal to make a months worth of interest on my money. My paypal addy is [email protected] ... Please let me know how to get my money back from cyberspace.
posted on January 22, 2002 04:01:38 PM new
I also find it very interesting that PayPal holds funds for 31 days after the hold is placed and isn't charged, yet no credit/debit card company I use holds funds for more than 7 days. Maybe its because 31 days is the amount of time it takes for money to earn interest...
Anyway, PayPal will need a faxed letter from the merchant with your account information authorizing you to remove the hold.
posted on January 22, 2002 04:38:20 PM new
How can I know this kind of thing will happen BEFORE i use the card? I do not want Paypal holding my money just to gain interest! How can I tell if a company is the type to charge twice this way? I am about to just close Debit card account...they are useless in this situation..WHO DO I HAVE TO HAVE THE COMPANY FAX TO? WHAT DO THEY NEED TO SAY AND HOW LONG UNTIL MY MONEY IS MINE AGAIN?
posted on January 23, 2002 05:06:09 AM new
I've been through this several times (one ping was for 45.00) and the easiest thing to do is to just wait until the 31st day after the "ping" pending is posted and PayPal will release it back to your account on the 31st morning.
Just imagine trying to explain to AW, Direct TV or anyone else that they have to fax a letter to PayPal with the details to get the pending charge removed. It will take them 30 days to figure out what your talking about and another 30 for them to decide your not trying to "Hood Wink" them.
I don't like the 31 day rule but knowing about it at least makes me feel comfotable that theres a procedure in place.
Personal expierence shows that this procedure does work, so I would say its not worth beating yourself up, it will come back to you.
chc
posted on January 23, 2002 05:55:57 AM new
I got the operator of the company I charged to, to call and have the funds released. This was done fast enough...But my other question is...How do I know if a company will ask for this double hold or not? I can't afford to have double funds pulled this way...What if I were dealing with a large company that didn't choose to call and have the second charge released?
posted on January 23, 2002 10:26:41 AM new
I believe this is how it works. A merchant puts a hold on your card first, to make sure the money is there. Then a few days later (when the item ships, etc.) they will charge the card, and release the hold. However, some don't release the hold, so it appears there is double charging. They just assume the hold will go away after a week or two.
With a normal credit card, holds just come out of your line of credit, not your balance. Therefore, you could theoretically have a hold forever and you wouldn't have to pay it. However, with PayPal, your balance is your line of credit, so to prevent there not being enough money in the account when it is charged it comes out of your available balance. This is the same way it works with any debit card (through your bank, etc.). Damon, I know the reason for holds (to verify the amount should not be charged or to make sure there will be enough money when it is). I am asking why wait 31 days to release it if it isn't released by the merchant? My normal debit card (through my bank) makes you wait 4 days. Both of my credit cards make you wait 7. Why 31?
posted on January 23, 2002 02:20:06 PM new
My situation is slightly different from what you described. I paid for a website at about 8:00 PM on a Friday, the PP site showed that I had two pending payments (both for the same amount and both to the same vendor), one at (for example) 8:00:00PM and another at 8:00:04. One fell off but the other remained. The "charges" were only seconds apart, not a day or two.
I will live with situations like this but I still need to know if and when it may happen. This is only the second place that has done it this way and I'd rather deal only with places that don't in the future (with this card anyway).
What would have happen if I did have enough funds for a $50.00 item but I do not have $100.00 in the account? Would the card be rejected because I don't have twice the money I need?
posted on January 23, 2002 06:18:56 PM new
Sometimes I also get 2 holds for one item. The hold amount sometimes differs from the actual purchase price. For example, I bought a 40 dollar item, and a hold for 100 was placed. Then it was removed and I was charged 40. With my american express credit card, they don't even tell you about holds on their website or over their automated telephone system. In order to even find information about if there are any holds, you have to speak with a live person. This is because generally holds dissapear at the time or soon after the charge is made. If not, they are automatically removed after around a week. If a merchant accidentally puts a hold on your account, or their automated system system does it, they generally will just assume it will be automatically removed soon. You can sometimes call them and they will remove it but some won't (someone bought an item from Dell which refused to release the hold but it went away after a week anyway, or so I read). Holds aren't that important because they usually go away quickly. The problem with PayPal is they make you wait 31 days before a hold is removed, which is a very unusually large amount of time. You can't tell if a merchant will put two holds on your account; if they do just call them and see if you can have them removed. If they aren't removed, just wait the 31 days and if you don't like waiting that long get another debit card (most banks offer them).
If you don't have enough money in your account for a purchase or a hold the card is supposed to be rejected, but there have been cases posted on these very boards that state that wasn't the case, and they had a negative balance.
