Hello,This morning I sold a fellow a model airplane engine. The guy paid me with PayPal. When I went to print the shipping label I noticed the money was in my balance. The transaction said, "pending." I could not find in the PayPal rules what that meant.I called PayPal. They said the transaction was being investigated and they could take up to 72 hours to do that. I asked why and they said they do not have to tell me that. I asked to refund the money and sell to another person. They said I am not allowed to do that. They will not tell me anything. I have been using PayPal 20 years. I have no claims against me ever. A few days ago I bought water heater parts using PayPal. All my information is current. My account is backed by a bank account and credit card. I have never sold banned items like guns, ammo, etc.. Has anyone run into this? Does anyone know what this is about? Thank you.
There is another idea to consider. They may use this as excuse to hold people's funds so they can collect interest on them. Think about it. If they hold say a million dollars from releasing funds, think about how much interest income that generates. I am strongly considering closing my paypal after 20 years. If they would be honest and say why my funds are held, then I would feel better. They are making money off this, you can bet on that.