PayPal is testing a new policy regarding the availability of funds that will “immediately impact new sellers” and should help them get their money faster.
Katherine Hutchison, PayPal’s head of Risk Management for the Americas, notes on the PayPal Blog that the policy being tested—which includes a new identification process—was fueled by feedback from new sellers, who were frustrated with the current policy that puts a hold on the money buyers pay them until they develop a selling history.
Currently, new sellers have to wait until buyers leave them positive feedback, the seller has provided tracking information, or 21 days after the transaction to have access to the funds, Hutchison reports.
She adds that many new sellers don’t understand this policy, but PayPal is working to change that with the test, which began this month.
“With some updated language on our website, clearer policies and adding an identity-verification process, we’ve been able to give sellers access to their money faster,” she says. “We’ve also made it more clear to sellers how many sales are needed to establish a pattern of successful selling. Once that pattern is established, sellers typically ‘graduate’ out of delayed funds availability.”
She asks sellers who are—and are not—part of the test to leave their feedback.
