elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
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| Posted: Tue Oct 12, 2010 11:02 am Post subject: eBay Sellers' Payments Being Held Due to Paymate Transition |
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Some Paymate sellers are experiencing payment holds after the company transitioned to a new bank and payment processor last month. Payments for transactions prior to September 17 are being held for up to 6 months by Paymate's previous financial partner based on account reviews for those sellers' accounts.
Greg Quinn of Paymate said the company is working with its previous financial partner to release the funds as soon as possible. He said while the bank may hold the funds up to 6 months, Paymate is gathering tracking information from sellers and, he said, the majority of payments have been paid out by Paymate. Quinn said that type of tactic from their previous financial partner was the impetus for the transition to a new banking partner.
Not all of Paymate's merchants were approved by its new banking partner, in which case their accounts were suspended by Paymate. In those cases, payments for transactions conducted after September 17 were returned to the buyer.
more.. link to news article |
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