Paypal Funds? Leave money in acct. or take every cent out?
- Thread starter Booga1003
- Start date
Removing funds from your PayPal account isn't a cure-all. If a dispute is decided against you they will access your credit card and/or checking account.
I actually go one step further and take the $ out of the bank account once it is tranfserred. They can go in and take the $ from your account too. I have a separate bank account for paypal and leave $2 in it.
I have never heard of them accessing a credit card. Has this happened to you?
I have a PayPal debit card. I always clean out my account every other day. I sell stuff very often.
Never leave ur funds in ur acct..espcailly if its a large amt.
There was one time I got a charge back and thank god I didn't have much $ in my acct, or else Pay pal would of ate up my balance. i just went negative and that was better than having my $$ taken away!
Never leave ur funds in ur acct..espcailly if its a large amt.
There was one time I got a charge back and thank god I didn't have much $ in my acct, or else Pay pal would of ate up my balance. i just went negative and that was better than having my $$ taken away!
Don't think this is true. When i got a charge back from a buyer, they DID not go into my bank account and draw money out. My acct just went into negative.
I think the only way they can go into ur account and take $$ out is if you buy something.
This is good to know because this question has never been answered for me. There are so many stories, I didnt think they could go in and take funds out of your bank account. My bank teller said they have so many problems with paypal its not funny.
So if your account goes to negative what do you do? do you set up a new account the next time you sell something and need paypal? I don't understand how this gets you out of paying back a buyer if paypal sides with your buyer in a dispute? The next time you sell something on ebay and someone pays you that money would just go to paypal which they would then take for the dispute.
It happened to me; I purchased a 99 cent song on I-Tunes (I have it set up to automatically pay by Paypal; big mistake). Because my balance was negative $850.00, the automatically charged my cc $850.99.
I've heard that too. My dad has a friend who has a very high volume website that he accepts PayPal on and he said that depending on how much volume you are doing through PayPal that you should have another account(besides the one attached to PayPal) and have the money from the account attached to PayPal swept into the "real" account. That way PayPal doesn't have access to the money. I think he said that he has the money swept into the other account every night. I didn't realize that PayPal can get into your checking account until he told me that. Kind of scary if you ask me!
Always take your money out and immediately!! Like others have mentioned, if someone files a dispute with you, your funds will be frozen. You also NEVER want to pay with Paypal funds because the only recourse you have if you are scammed as a buyer is Paypal resolution (and we all know, they don't always do the best job). If you purchase from someone outside of eBay, but using Paypal, all it takes for someone to scam you when you pay with bank account transfer/PP funds is delivery confirmation. Paypal does not deal w/disputes regarding items 'not as described.' So basically, if you send someone $1000, all they need to do is send you a box with nothing in it, but a delivery confirmation sticker on it and you're completely SOL.
I was sold a fake Chloe and attempted to resolve the matter without involving PP and ebay. I entered dispute and immediately escalated to claim after Seller threatened to empty her PP account. I promptly phoned PP to advise them of the situation and was told that if dispute was decided in my favor they would access her checking and/or credit card accounts. I won and my account was credited.
I always put the money directly into my bank account. I'm weird but I like seeing the amount in my account increase. 