Freakin' PayPal!!

[nash]

If you have a bank account connected to paypal you should keep that empty too. They WILL take money from it if someone does a chargeback on you.

is this confirmed? coz that is pretty scary....

 

[El Roranous]

If you have a bank account connected to paypal you should keep that empty too. They WILL take money from it if someone does a chargeback on you.

I hope that isn't true as well. I would think that's illegal.

 

[IrishJedi]

Paypal has never taken money from my bank acount. I have had negative balances in my Paypal account, but they have never taken money from my bank account.

Then consider yourself lucky. I have been studying up on this stuff and Paypal has indeed sacked peoples' bank accounts without their authorization.

 

[IrishJedi]

is this confirmed? coz that is pretty scary....

Yes, I have already read of a handful of cases of this happening. Thankfully, most of these folks were able to recoup their funds through their banks (because it IS technically illegal to withdraw funds without explicit authorization from the account holder) but not without hassle.

In any case, the fact that Paypal is an evil company is becoming more painfully clear to me all the time.

 

[devlinboy]

if i did what paypal does everyday i would be in lockup for life.

 

[vespagirl]

I'm just reading this now, and I actually feel sick inside. This is unfreakinbelievable. I would lose my ever-lovin' mind if I had that amount of money tied up for that period of time. The only problem I had with them within the last six months was an item I sold and shipped, for whatever reason, was flagged as questionable and they put a hold on the funds and I had to swim through a sea of online paperwork and all that crap.

So have you guys reached a verdict on a definite alternative? Google Checkout?

 

[vespagirl]

Amen to that ... I hope they don't pull this crap with me, or else I will be calling my lawyer.

If that happened to me, I would even have time to call my lawyer. I'd be too busy trying to catch up with the checks I'd be bouncing all over town....

 

[IrishJedi]

So have you guys reached a verdict on a definite alternative? Google Checkout?

So far, Google Checkout looks like a great alternative. It's FREE and they aren't even charging ANY sellers fees for the remainder of 2007. After that, they will then charge a nominal 2% + .20 cents for each transaction (still cheaper than Paypal). Plus, it seems quite easy to essentially create an Online Store with them, complete with Shopping Cart functionality. You can also email invoices, ala Paypal.

For eBay, I am going to have to use either Bidpay or Money Orders from now on.

 

[IrishJedi]

If that happened to me, I would even have time to call my lawyer. I'd be too busy trying to catch up with the checks I'd be bouncing all over town....

I haven't bounced anything (yet) because my bank lets me go into overdraft due to the amount of $$ I usually have in my accounts. HOWEVER, as of this moment I've been hit with $455.00 in Overdraft Charges because of this fiasco.

It just SNOWBALLS from there.

 

[El Roranous]

I haven't bounced anything (yet) because my bank lets me go into overdraft due to the amount of $$ I usually have in my accounts. HOWEVER, as of this moment I've been hit with $455.00 in Overdraft Charges because of this fiasco.

It just SNOWBALLS from there.

This whole thing stinks. What's worse is I know it eventually happen to me for no reason because their selection seems to be random. I hope you can sort it out soon.

 

[DouglasMcc]

I haven't bounced anything (yet) because my bank lets me go into overdraft due to the amount of $$ I usually have in my accounts. HOWEVER, as of this moment I've been hit with $455.00 in Overdraft Charges because of this fiasco.

It just SNOWBALLS from there.

I know it doesn't help you now. However, your bank might offer overdraft protection for the future. It's basically a small credit card-like balance. You don't have to pay a dime unless it is used. I currently have a thousand dollar overcharge protection. If a charge goes through, and you don't have the money to pay, then they put money into your account (my bank does it in 100.00 increments) up to the limit. Then, it's like a credit card charge (pay it back in 30 days, no charge, otherwise interest). I never have had to use it - knock on wood. However, I got it for both my mother and myself after she lost 100 bucks to overdrafts. I would definitely look into in the future if it's free like with BB&T here.

 

[user 1190]

If you have a bank account connected to paypal you should keep that empty too. They WILL take money from it if someone does a chargeback on you.

They cant do that, that is highly illegal. if the funds are not available in the paypal acct they tell the buyer they will get the money when funds are in the paypal acct.

Trust me I know I have had it happen for a few hunndred bucks.

 

[user 1190]

I haven't bounced anything (yet) because my bank lets me go into overdraft due to the amount of $$ I usually have in my accounts. HOWEVER, as of this moment I've been hit with $455.00 in Overdraft Charges because of this fiasco.

It just SNOWBALLS from there.

Dude can you a direct deposit advance to get you back in the black until your next paycheck? They charge for it but its better then the fees your racking up.

 

[Seth Gecko]

Yeah i've done the checking advance before to help me out.(if your bank offers it)

 

[Darklord Dave]

They cant do that, that is highly illegal. if the funds are not available in the paypal acct they tell the buyer they will get the money when funds are in the paypal acct.

It's never happened to me, but there are enough stories about it happening to others that there must be some truth to it. I did go open a 2nd checking account for just this reason.

 

[DouglasMcc]

Irish, I would also suggest calling the bank and explaining the situation to them. This was obviously something out of your control. It might not get you the money back. However, charges like that are completely up to the discretion of the bank/ personnel in charge of those fees. If this is the first time you have had this problem ... and you have a good history with them, they might just refund some of those fees. True, they are not obliged to do that. However, alot of times, they will give you a portion of the charges back to both reward your business and hopefully keep you from leaving them. And worst case scenario, you waste 10 to 15 minutes of your life, and someone else realizes that PayPal is an evil POS. Not that bad of a trade to at least try to get some of the money back (from the charges).


P.S. On a side note ... or irony considering this topic ... I got a letter from a collection agency for the $62.25 that my bank awarded me back from them after they ruled in my favor, but refused to give me the money back. Only these crooked *******s would have the nerve to file a collection notice after I exercised my legally guaranteed right to challenge the matter and won the case - TWICE. Oh well, I have challenged the validity of the charge with the agency. I know it will be a black eye on my credit, but Hell will freeze over before I give them that money back :emperor

 

[user 1190]

P.S. On a side note ... or irony considering this topic ... I got a letter from a collection agency for the $62.25 that my bank awarded me back from them after they ruled in my favor, but refused to give me the money back. Only these crooked *******s would have the nerve to file a collection notice after I exercised my legally guaranteed right to challenge the matter and won the case - TWICE. Oh well, I have challenged the validity of the charge with the agency. I know it will be a black eye on my credit, but Hell will freeze over before I give them that money back :emperor

Was it from paypal? Paypal sent you to collections?

 

[galactiboy]

Well after reading this thread I've emptied my Paypal account. I'm an honest buyer and seller. And if someone has a problem I'll usually just refund the money... but I'd hate to get some f'd up email like you just got. It'd drive me f'n insane!

 

[DouglasMcc]

Was it from paypal? Paypal sent you to collections?

The letter was from a collection agency claiming they were trying to collect a debt owed to PayPal. The absurdity of both PayPal and my bank telling me I was in the right in my dispute ... yet PayPal challenging the bank charge reversal ... it would be funny if it wasn't true

 

[IrishJedi]

The letter was from a collection agency claiming they were trying to collect a debt owed to PayPal.

Let me guess... IC Systems?

If so, yeah... they are apparently notorious shakedown partners with Paypal.