Paypal Funds? Leave money in acct. or take every cent out?

[Lvbabydoll]

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.

Yup, last summer, I bought a pair of those cute tailored shorts from a seller. I received a VERY thin empty envelope (which was barely closed, you can tell someone opened it from the flap then resealed it) and I complained to the seller. She told me "once the item leaves my hands, I am no longer responsible unless insurance is purchased." So I couldn't get a refund or anything because of that. The only thing I could do was file a postal complaint but obviously nothing ever came of that. So I was out my $20 and couldn't do a thing about it.

 

[Lvbabydoll]

Oh and back on the original topic, I forgot to mention that I also take it out because I have my paypal set to charge my ebay fees to my CC. Otherwise, they'll take them out of my paypal balance and I don't want that so I put my money over in my account asap.

 

[yennypoos]

I take my money out for 2 reasons:

(1) So I won't have funds frozen in my PP in case a buyer decides to file a dispute against me for any reason

(2) Because my money in the bank accumulates 5.5% interest/mth A few cents closer to owning my first LV, woohoo!

 

[chloebalenciaga]

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.

A chargeback is different: in such cases the credit card issuer makes the final call. I'm unfamiliar with negative account balances. Were the funds replaced via future sales revenue?

 

[alisonanna]

I once sold something and immediately after the deposit someone hacked into it (don't know if that's the right term) and tried buying other ebay items with the balance. Fortunately, the seller recognized the address different from shipping address and phoned me. I had to change all passwords, etc. But I think there must be a small window of vulnerability after a deposit when others can get in.

 

[canada's]

A chargeback is different: in such cases the credit card issuer makes the final call. I'm unfamiliar with negative account balances. Were the funds replaced via future sales revenue?

the cc company will go after paypal to get the money and if nothing comes of that, they eat the charge. that's the point of having a cc in some cases. paypal CANNOT go into your bank account and if they automatically charge your card, i imagine you'll be able to take it up with your cc.

 

[BWRiley]

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 won a dispute as a buyer (seller just didn't send the item for which I paid.) It has been over 18 months and I still don't have my money. So, this was not the case for me, they didn't access the seller's account or CC to refund my $$.

 

[Lvbabydoll]

I won a dispute as a buyer (seller just didn't send the item for which I paid.) It has been over 18 months and I still don't have my money. So, this was not the case for me, they didn't access the seller's account or CC to refund my $$.

Wow, that's surprising. I had that happen to me once with a top..the seller even provided a tracking number yet I still didn't receive it. I guess I wasn't the only one who didn't receive their item because the seller went NARU very quick and I got my money back about 2 days later.

 

[Jenna51580]

wow thanks for all the infomation I thin after hearing these stories I will take my money out of paypal as soon as I receive it.

 

[Ali-bagpuss]

so that if someone files a claim against you paypal can't freeze the funds in your acct

If you don't have any funds in your Paypal account, if someone files a claim against you, Paypal will freeze this amount of money anyway and that way put your Paypal account at minus. Just like a bank would without an overdraft.

That way, when you next sell something and get paid by Paypal, Paypal will automatically take any money it is owed before you get funds in your account again.