I need to know how to handle PayPal Temporary Holds. I have read another old post where it states the following.
Temporary Holds: You need to create a ‘PayPal Reserve Holding Reserves’ bank account and tag the rolling/holding reserves as a transfer to/from the new holding account. When PayPal release the funds and after tagging as a transfer from the new holding account, the balance will be £0 on the new account if all the funds held have been released, the holding account will also keep track of the reserve funds held by PayPal.
What I don’t get is if you do this then do you have to keep checking to see if PayPal have released the payment and if they have then do you then have to tag the payment back to the PayPal account. If so that is not good as that is very time consuming and messy if you have a lot of temporary holds on payments each month.
Can someone clarify what the situation is with this, thanks.