Has PayPal ever held onto your money because of eBay?

Ever sell an item via eBay and had PayPal hold your funds longer than it should have? Or something go wrong with a buyer dispute? Check this out!

Earlier this year, PayPal reached a settlement in a class action lawsuit, agreeing to provide some users with payments ranging from $3 to $440 to resolve allegations the company improperly handled disputed transactions and placed inappropriate holds or reserves on some sellers’ funds. Now, the settlement has a firm claim filing deadline, Oct. 14.

According to the suit, plaintiffs alleged that PayPal and eBay — its partner at the time — placed holds, reserves, or limitations on accounts or closed or suspended accounts.

PayPal then allegedly failed to provide these account holders with annual error-resolution notices and monthly account statements required under the Electronic Fund Transfer Act.

While PayPal and eBay denied the allegations of wrongdoing and liability, they agreed to provide payments to active account holders between April 19, 2006 and Nov. 5, 2015 who had a reserve or hold placed on their accounts during that time, or who had their accounts terminated or suspended.

Checkout the settlement here and apply for your money!

[Source: Consumerist]

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Walter Marrero 228 posts

An executive analyst at an elite technology & business focused publication.

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