PayPal "Cool Down" Period

Is anyone familiar with this? I sent a fellow TSD member funds and he received notification the funds were on a 21 day "cool down" period.

Thanks

 

Nope, never heard of that. Is it really a thing?

 

That's generally for someone who is new to Paypal. I too experienced this when my PP account was new and I had no history with them.

 

From the PayPal site;

If you're a new seller, your payments may be delayed by up to 21 days so that we can make sure your buyer is satisfied with their purchase. You can often get your payments sooner if you provide us with an online tracking number that confirms delivery of your item.

It's a variation of the Golden Rule.
The folks who have your gold make the rules.
(And interest on the monies held in their slush fund.)

 

I've had several occasions where I was paid by someone and the funds were held for a couple weeks. Don't know why.

 

Thanks for the info/replies. The only thing I can surmise is PalPay is encountering situations where folks are selling but not sending or sending the product in a timely manner. Perhaps not and I hope this is not the case. I may be gullible but I trust everyone on TSD to do the right thing.

 

I created a new account just to sell a few things, I sold about 5 items. All were with a cooling period, I assumed they were credit me with the balance. Instead, I received messages that I have failed to claim the funds. So I lost out, be careful...

 

Yeah it's like a bank account sort of, you can carry a balance indefinitely

 

That explains it then as I was pretty confused!

I don't mind waiting for it to clear though.

A deal is a deal regardless of Paypal not trusting me lol!

 

No! That was Plypal out of Moldova. They suck.