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Funds held in Stripe Dashboard?

Newbie question...

I have completed my very first Audiogon transaction!!!  I sold some equipment and the funds were paid to my Stripe account.  For some reason, they are being held for a week before transfer to my bank account.  Are these funds secure, and can the buyer retrieve them?  (I'm not saying he would, just asking if he can.)  Am I safe to ship the equipment before the funds actually transfer to my account? Thanks for any insight.
Craig
cjgassma
uberwaltz's avatar
uberwaltz
13,381 posts
 
Never heard of PayPal holding onto any sellers funds tbh. Never happened to me.

But I know reverb.com does the same for new sellers as you have here. They hold the funds in escrow if you like for your first couple transactions until you have built up some sales history.

Not sure how long this has been applicable to audiogon as I never had this on my first few sales here.
cjgassma OP
3 posts
 
Thanks for the replies!  Just to clarify, this is not PayPal.  This is a system called Stripe, which was suggested by Audiogon when I signed up. 

https://stripe.com/get-started?&utm_campaign=paid_brand&utm_medium=cpc&utm_source=google...
I do not have a PayPal account. 
cjgassma OP
3 posts
 
Also, do I need to ship the equipment and have it received by the buyer in order to release the funds?
djones51
4,947 posts
 
If this is your first time using stripe they will hold the funds for 7 - 10 days after the first successful payout they are processed according to your payout schedule. I signed up for this as well but never used it, more geared to dealers.  
djones51
4,947 posts
 
I should also add even if you wait until the funds are paid to you the buyer will still have 7 days from date of delivery to request a refund. That's one of the rules with using stripe only way around that is accept a check or something and wait for it to clear before shipping. 
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