Can PayPal take money from your bank account?

Aug 16, 2006
1,245
7
Thanks to those who responded to my other thread about unconfirmed addresses - you have been very helpful. In the end, I just decided to do it - the item was about $70, and I just didn't want to stress myself out too much anymore. So I will cross my fingers and hope for the best. In the meantime, I have sent my balance to my bank account, which means I'm at 0 on PP now.

My question is, is that ok now? If the buyer turns out to be a scammer and tries to do a chargeback, it will only put my PP into the negative, right? Can PP go direct in to my bank account to withdraw the needed funds?

Any advice or personal experience would be great. Thanks!
 

eBayguy

Steve
Jun 23, 2008
431
0
Tennessee
I know I am going to get slammed for this but why is PayPal so bad for taking money back if there is a possibility that the SELLER is fraudulent? This is not meant to be a reflection on cutieupdate18 but it is your post so I apologize.

If you were on the buyer side and truly felt that something was fraudulent, would you not want your credit card company to protect you? PayPal is no different and you can bet your credit card company will do the same thing to the seller that PayPal does.

By the way, I read some of the other post and I saw them refer to an unauthorized retrieval of money from your checking account. Read the contract and you will find that you gave them authorization. They are not evil as many find to be a popular term. They are in business and they expect that the contract is read as you say when you agree.

I believe some personal responsibility is in order here. If one is going to sell, then one is stepping into the world of business. Business uses contracts, A contract is signed when you open up a Premier account with PayPal and they will operate with that contract in mind.
 

eBayguy

Steve
Jun 23, 2008
431
0
Tennessee
PS: Closing an account to avoid the chargeback is an illegal act. That may lead to more issues than you perceive might occur with your buyer.
 

tireebabe

Member
May 11, 2008
7,485
0
Scotland
Ebayguy, you seem to be knowledgeable about paypal. If a seller closes their paypal account before the buyer files a dispute which would result in the buyer receiving a refund how can paypal retrieve the money from the seller?
 

purse-n-boots

Member
Mar 24, 2007
673
0
Your closet
This question AGAIN! NO, paypal cannot initiate a withdrawal on your account without your permission. If someone can show me in their user agreement where it states you agree to let them withdraw money when you loose a claim or have a negative balance than I'll stand down.

Otherwise - they can't, they are not above and beyond all the banks in the world!

I really like eBayguy's comments. I see members here posting all over to close your paypal account or bank account if you get into a dispute on paypal so they won't take your money.
HOW ABOUT NOT GETTING INTO A CLAIM, OR ACCEPTING RESPONSIBILITY FOR YOUR ACTIONS. I don't really want to hear the sob stories about getting ripped off either. If you are getting ripped off you didn't follow either common sense or the advise which is all over ebay and paypal about how not to get ripped off. Learn the lesson, salvage what you can, try again.

Our society is getting really bad about accepting responsibility. If you shipped something to an unconfirmed address - you loose, if you don't use signature confirmation - you loose. Suck it up, learn your lesson, and don't do it again!

Paypal is not a SNEAKY company, all their rules and regulations are in the user agreement. If they were sneaky, the CC companies would allow them to be a processor.

What is all this business about piggybacking paying your ebay fees? Please, please show me where in the user agreement this is stated as well. I'll like to see that one! (and there very well may be, but I can't find it and if it is, we all agreed to it!) Even if you do authorize to have your ebay fees automatically withdrawn from the paypal account that wouldn't give them permission to take money for a negative paypal balance. It most likely would say that if you don't have enough in your paypal balance that it will withdraw on your backup funding source. Keep in mind eBay and PayPal may be owned by the same corp, but they are different companies. Do you think that a KFC can go over to a Taco Bell and get some money or condiments when they run low just because they are both owned by Yum? I don't think so. When you make an agreement with paypal to withdrawn on your account for your ebay fees that is all you are authorizing them to do.

I wish I could do something to re-educate the crowd but I think there are too many critics who want to blame paypal for losing a claim and having to pay up.

Keep in mind, I have defended several paypal claims and have not lost any. If you are polite and provide the necessary information to paypal and you are in the right, you'll win. If you are wrong, you loose. (I'm sure there are plenty of one sided stories on here and ebay/paypal forums elsewhere). Keep in mind that none of us could possibly know the details of the transaction unless we get the dispute story from both sides. (In other words, I'm saying that some of you may have wrongfully lost a claim with paypal and my sympathies are with you).

I don't want to sound like I am pointing fingers or anything and I'm open to suggestions but I'd have to see proof in form of the Paypal user agreement.