PayPal is a convenient platform for all sizes of online businesses in collecting payments and making customers online shopping transactions easily.
With PayPal, businesses can accept payments from anywhere in the world, which makes it a great option for businesses that sell internationally. PayPal also offers a number of features that make it a convenient option for small businesses, such as the ability to send invoices and set up recurring payments.
If you're a PayPal user, you may have experienced having your funds put on hold for up to 21 days. This is to ensure that there is enough money in your account to cover any potential issues with the orders.
There are several reasons why this may happen, but there are also ways to expedite the release of your funds.
Why Does PayPal Hold My Funds?
PayPal is committed to providing a safe and secure platform for both buyers and sellers. To help ensure that the platform is shielded, PayPal may temporarily hold payments in your account. But it does not mean you have lost it. Although the money belongs to you, PayPal will temporarily keep you from accessing it to make sure there's enough money in your account to resolve issues like chargebacks or disputes.
In our Previous Article, we pointed out how Shopify Sellers increase the chances of winning any PayPal dispute that comes their way.
Why does PayPal Hold Payment?
And if you're like most PayPal users, you're probably wondering when you'll actually get your hands on that money.
As sellers how do you technically put a stop to a delay in PayPal fund release?
- Be alert on your email notifications: The email, which has the subject line "An important message about your PayPal balance," asks users to review their balance and take action if necessary. The message also includes a link to the Account Overview page, where users can find more information about their balance.
- Post an actual of the items you are selling - it's important to take measures to prevent refunds, disputes, and chargebacks from buyers. This includes posting real photos of the items you're selling, including detailed and accurate descriptions.
- You should also be transparent about shipping and handling times, costs, and methods, and make sure to process orders promptly.
- Be sure to pack items with care so that they arrive in good condition, and be clear on your return policy upfront. By taking these steps, you can help ensure a positive experience for both you and your buyers
- Adding a tracking number always automates the process of submitting tracking details to PayPal in order to prevent any possible customers complaints about the shipment of their orders.
By default if someone puts an order on your Shopify site, it does not send tracking information to PayPal, PayPal really needs to know that the tracking information is being provided so to alleviate those issues and protect your PayPal account check PALTRACK for more information.