My Credit Card has already been charged by Pay Pal TerraHash. So they should be able to get the money from Pay Pal if they don't already have it. My account still says processing.
Same status here on my account/order. Im not a paypal expert, but I think with new or large orders, paypal holds" or more or less has a lean on the money and can hold it. TH is under review, so I am thinking paypal simply is not actually releasing the funds (our order money ) as they are on the hook to reimburse us within 45 days if we are not happy. If they release that money to TH and then something goes south for TH, and the funds are all spent, then paypal will have to cough up the money for all of us, and seprately try to persue getting their (paypal) monies back from TH after repaying us first. So thats my thinking. anyone who knows more on paypal this way, chime in here...lol,,I am not the expert
Paypal likes to put 21 day holds on funds for new merchants, established ebay sellers who start selling in a different category or there's a change in their sales pattern, anyone who has a sudden large influx of money, etc. basically any excuse they can come up with to hold your money for 21 days, and then if 'in their sole discretion' they decide something isn't on the up and up, they have been known to freeze people's accounts so they can no longer accept payments, get to their money or anything else, and keep your money for 180 days before they'll release it.
I've had an ebay and paypal account for over 10 years now and have been an occasional seller; never had a single complaint registered or chargeback filed; and sold an item on ebay after having not sold anything for awhile, under $200, and paypal locked the funds on me. Paypal has always been bad, but they got even worse after ebay bought them.
Hey thanks for expanding on that. Well, I guess so long as they (paypal) are going to gaurantee a purchasers purchase, they have the right to set their own rules... just not good for the guy on the other end doing the selling ( TH ),,,but thats why so many use paypal I guess, because they feel they have an "out" when things don't go right. I am assuming, TH was hoping to raise capitol for what ever reasons, by making this move...but for me it seems a bit risky to use other peoples money,,well your customers, to get things off the ground before you have a real viable product in hand and ready to go. Its almost like we are being used as the venture capitalist here...lol and I think BFL did the same! thx! "
Oh it's not as good as it seems, sadly. They do all this crap in the name of 'fraud prevention' but the sad thing is they blatantly allow fraud - not fraud by merchants or sellers, but fraud by buyers.
A rather widely known fact is that if you sell something on ebay and the buyer disputes it as significantly other than as described, and they provide paypal a tracking number "proving" they shipped the item back to you and it gets delivered, Paypal will automatically side with the buyer, period. It doesn't matter if they buyer put something else in that box, a rock, some book, or busted up the item they bought and sent it back to you. Paypal assumes the buyer is telling the truth and shipped the seller back what they received. Even if you try to fight it, you won't win as a seller on ebay.
If they dispute as not received you can win, but I haven't yet heard any credible reports of a seller winning on a dispute of not as described; and I've heard quite a few horror stories about receiving back some worthless item and the buyer making off with their money and the expensive item they bought.