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Gaypal Money Holds (DropShipping Killer)

Discussion in 'Ebay' started by demoncrest, Aug 16, 2010.

  1. demoncrest

    demoncrest Registered Member

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    Hey all, the only thing which seems to be limiting my ebay success is the fact that gaypal puts hold on most large amounts of payments until either a few weeks has gone by (21 days if I am right??) or else until the buyer has marked that they have received your product.

    The method that I am using right now is just to simply have a large amount of money in my gaypal account so that I can still pay for dropshipping the item with my own funds until the buyer's funds are released to me. I believe this is called the reservoir method?

    Anyways, when selling replicas this is already a risky business and this method is a little risky, putting excess funds on your gaypal preemptively, and then hopefully not getting your account frozen with all of your funds on it. I am not stupid and keeping thousands of dollars on my account at a time but at the same time I really want to start up-scaling =(


    If anyone has some ideas for still using gaypal and eGay together I would be very interested! Also, does *A*mazon do holds on your funds also? I was thinking of maybe switching my focus to there instead, it also avoids most of the fees.


    Thanks for reading!!!! Looking forward to some replies!

    ~ D[C]
     
    Last edited: Aug 16, 2010
  2. oxonbeef

    oxonbeef BANNED BANNED

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    Why do you not use a pre,pay credit card to fund your account as and when you
    need the money rather than holding a reserve of liqiud funds in there?
     
  3. demoncrest

    demoncrest Registered Member

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    Hmmm yeah I guess that wouldnt be a bad way to go, the only option for me right now is that since I dont have a credit card all I have is debit. So when I need to order something I need the money in the account otherwise it takes 5-8 days to transfer it into my gaypal just to be able to pay.

    So... in short that totally isnt viable when it comes to ebay and shipping promptly.

    Do you happen to know if I got an actual credit card I'm guessing you could just make payments right away, since it isn't actually transferring any funds? ... if so it might be the next step to further upscale this eGay business.
     
  4. oxonbeef

    oxonbeef BANNED BANNED

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    What I'm taliking about is a pre paid mastercard so you load funds onto the card and then
    use the card as you will a normal creditcard.
    This a Canadian company as I see you're in Canada.
    Code:
    http://www.mytitanium.ca/english/
    And there are plent more to be found on google.
     
  5. demoncrest

    demoncrest Registered Member

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    Alright thanks a lot for that, I'll look into it. Theres no hidden fees for it or anything???

    Also, any idea about my question for Amazon?
     
  6. eBayMafia

    eBayMafia BANNED BANNED

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    Amazon holds funds as well, and will ask for information the moment you try to sell something that is known to have been replicated.

    With PayPal, if you are making a good profit, setting your own reserve is a good idea. However, be aware selling replicas because your PayPal account may become frozen and the funds will by inaccessible for 6 months. Just put enough in your PayPal account to hold you over for a couple of items. If you sell an item for $100 and $75 is profit, and you need $25 for the item, just put $25 in there as your reserve. By the time your customer gets the item and leaves positive feedback, the funds will be released and and you can use your profit to buy three more things.

    Just play it out, PayPal won't do the 21 day payment hold forever. With good positive feedback rolling in, you will be alright.
     
  7. tbrizell

    tbrizell Junior Member

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    yep if you want to go with paypal there's no way around it wait it out....now i started having personal success with Paymate
     
  8. demoncrest

    demoncrest Registered Member

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    In another thread I was posting in I believe someone was explaining that they either:

    1. camp the item right until it ends, then immediately mark the item as paid, and then send an invoice to their email through gaypal so they just use that to pay and it's in your account immediately.
    2. If they pay via eGay then send them a refund and note that there was an issue regarding receiving the paymant, so you will refund their eGay payment, and you will send a paypal invoice instead of an eGay invoice.

    I know these would work, but it makes me feel a bit uneasy to doing "odd" methods like this, especially when selling replicas, the last thing I want to provoke is more attention lol


    ~ [D]C
     
  9. dulcolax

    dulcolax Newbie

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    I actually was looking up a way around this problem as well. This is according to gaypal.

     
  10. dulcolax

    dulcolax Newbie

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    sorry for double post.
     
    Last edited: Aug 21, 2010
  11. xtremesash

    xtremesash Newbie

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    just the info i need, i am planning on setting up an egay account without it being blocked. had that problems few months ago
     
  12. sambreaker20

    sambreaker20 Newbie

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    thanks alot for the info good thing to know before doing drop shop