posted on March 30, 2001 10:44:46 PM new
JUST CAME FROM MY BANK THEY TOLD ME IF PAYPAL WANTED TO THEY COULD DRAIN MY ACCOUNT IT COST ME $25.00 TO MAKE SURE THEY DIDN'T.I DID THIS AFTER SOMEONE EMAILED ME THAT THEY HAD DONE IT TO THEM CAUSING THEM TO HAVE TO PAY AN NSF CHARGE OF $45.00
HOPE THIS DOESN'T HAPPEN TO YOU.GO TO YOUR BANK AND DON'T HESITATE. THIS IS SCAREY.
OH BY THE WAY THAT GOES FOR YOUR CREDIT CARD ALSO.
[ edited by club1man on Mar 30, 2001 10:46 PM ]
For the benefit of all users---from the terms of use:
PayPal will never make electronic transfers from your checking account without your express permission.
(Permission entails your logging in on the site, a password protected item, and requesting it. Having a bank account on file does not give unilateral access to your bank account).
posted on April 2, 2001 07:42:55 PM new
I have to agree. I am assuming the situation concerning the individual about the INSF fee was that he had his checking account set up with PayPal. I do know (sadly, from experience) that if I sign on and request funds to pay for an auction and the money is not there that the bank (or at least mine) will transfer the funds and slap on the insf fee. I don't think it's PayPal to blame for this. AHHH...Isn't it nice to live in an electronic age?
posted on April 2, 2001 08:42:47 PM new
IF YOU DON'T THINK IT'S PAYPAL'S FAULT YOUR HEADING FOR A BIG FALL THEY CHARGED BACK $31,000.00 IN WHAT THEY SAID WHERE BOGUS CREDIT CARDS AND SOME OF THEM WEREN'T EVER CREDIT CARDS THEN THEY RESTRICTED MY ACCOUNT AND TOOK OTHER PEOPLES MONIES TO OFF SET A NEGATIVE BALANCE IN MY ACCOUNT.I PROVED THEM WRONG ON SEVERAL TRANSACTIONS THEY NEVER PROVED THE OTHERS WERE BOGUS. I JUST HAD TO TAKE THEIR WORD FOR IT. THAT'S BS AND I DON'T BELIEVE IT. BE SAFE CLOSE YOUR ACCOUNT BEFORE YOU HAVE TROUBLE NOT AFTER, LIKE I TRIED TO.
posted on April 2, 2001 10:10:48 PM new
DAMON get your facts straight.
AFTER PAYPAL RESTRICTED MY ACCOUNT FOR NO REASON,I REQUESTED THAT NO DEPOSITS BE ACCEPTED TO MY ACCOUNT BY EMAIL AND TELEPHONE AND PAYPAL CONTINUED TO TAKE OTHER PEOPLES MONEY TO OFFSET THE NEGATIVE BALANCE IN MY ACCOUNT.TELL THE PEOPLE THE TRUTH AND QUIT LYING.THE PEOPLE THAT PUT MONEY IN MY ACCOUNT HAD TO THREATEN LEGAL ACTION AGAINST PAYPAL AND I HAVE THE EMAILS TO PROVE IT.YOUR ARE A PUPPET THAT SAYS WHAT YOU ARE TOLD SO I REALLY DON'T HOLD IT AGAINST YOU.YOUR JUST LIKE THE OTHER SUPPORT PEOPLE AND EVERYONE THAT HAS CALLED PAYPAL KNOWS ABOUT THAT.
As per the email you received from MartyAW, I have deleted your post because it contained private information regarding a User. Please email [email protected] when you are available to edit that information from your posts and they will be reinstated for that purpose.
club1man
I realise this is a frustrating situation for you but please be aware that as a Company Representative, Damon is to be afforded the same respect and consideration that any other User is entitled to.
Cooperation from both of you would be appreciated.
posted on April 2, 2001 10:51:40 PM new
Michelle, I hope this represents a change in AW moderation policy where they will now allow others who may not be online at the time an issue is moderated to notify you when they are available to correct any problems.
Of course, I can only assume that if this were not paypaldamon we are speaking about, the user would have been issued a formal warning also, in all likelihood.
posted on April 3, 2001 12:35:33 AM new
Your bank misinformed you! I currently have a PayPal account and know from actually READING the terms of use that there is NO WAY they can take money from my credit card or bank account without my consent. Depending on what type of transaction you choose a temporary hold can be placed on your credit card while you are sending money from your bank account, that's to make sure that the funds are in your bank account.
The only way money is taken from your credit card or bank account, is when you request that they do so. If you don't have the money in your account, you are going to get an NSF charge, whether your using PayPal, writing a check, or using a debit card. It's not PayPal's fault you don't have the money. Let up!
posted on April 3, 2001 09:01:13 AM new
The previous poster made the following statement:
"If you don't have the money in your account, you are going to get an NSF charge, whether your using Paypal, writing a check, or using a debit card. It's not PayPal's fault you don't have the money. Let up!"
May I correct you on you misstatement: A debit card is basically an ATM card with the Visa or MasterCard logo and works just like a "regular" credit card. The difference being that the money is withdrawn from your checking account instead of charged. If Paypal has you Visa or MasterCard debit card number and you attempt a transaction using the default (preferred) direct debit to your checking account, you will need to have TWICE the amount necessary for the transaction to not get a NSF charge. If you do not have twice the funds, this is what happens:
1. Paypal first places a hold on your Credit (Debit) card making the funds unavailable in your checking account.
2. Paypal attempts to remove the funds directly from your checking account by generating a second transaction.
3. The debit transaction is NSF because the funds you intend on using for the payment are on hold from the initial transaction.
If you do not have double the amount in your account, the debit attempt on your account will cause an NSF. Your bank has no idea that the NSF is caused by Paypal’s policy of tying up one account while it goes after another one “just in case”.
In my situation, I could have saved some money had Paypal answered my first request or actually read my second request before answering a question that was not asked.
posted on April 3, 2001 09:11:22 PM new
I know how a credit card and debit card work, my point is if you had read the difference between an Instant Transfer and an eCheck, you would have read that PayPal does not recommend you use a debit card on Instant Transfer transactions.
From PayPal's website:
Instant Transfer is secured by a temporary hold to your primary credit or debit card. This is just like when you check into a hotel, and they pre-swipe your credit card, or when you set up an account at a video store.
The hold on your card will be released at your card-issuer's discretion, usually about 3-4 days. During this time, your credit card availability will be temporarily reduced by the amount of money you are sending.
It's best to use this feature with a credit card, rather than a debit card, because debit cards also draw on your checking account. If you want to find out which of your cards is primary, click on My Account - Profile- Credit Card.
This is located right on the same page that allows you to choose a payment method while making a payment, you simply need to click on the box with a question mark next to the different types of payments to learn how they work.
posted on April 4, 2001 09:31:55 AM new
OMAJOSIE, Whether your an employee or fan, I appreciate your attempt to clarify PayPal's policies. My error was in reading the TERMS OF SERVICE to find out about how PayPal works. I admittedly have not clicked every link with diligence. I will take your word fot the fact that the link exists. I removed the credit card account from PayPal so that it could not happen again. As for the analogy, the following would be more accurate:
It's like when you go to a local store with a personal check. They also charge your credit card just in case. Hold, charge, whatever-the money is out of your control until the the transaction "expires".
posted on April 5, 2001 05:02:06 AM new
Just a fan. I guess I would not "go there again", if I had no idea it was going to happen. But, I wouldn't hold it against the store, and bad mouth them to everyone for my error.
posted on April 5, 2001 09:27:02 AM new
When I opened my account at PayPal, I was aware that I was allowing access to my bank account for the transactions I initiate. The Rules business practices for both parties is spelled out in the Terms of Use Agreement. When signing up, you must "click" a box to indicate that you have read and agree with them. Any material facts pertaining to business transactions utilizing PayPal should reside in this lengthly document. I read the TOU agreement in its entirety. Nowhere in this agreement does it state that Paypal will make additional funds, equal to the transaction amount, unavailable for any period of time. My lawyer feels that the Terms of Use is the contract.
If you sign up for a credit credit card at Sears using the application that comes in thier catalog, you are not also agreeing to a clause appearing on the page selling underwear unless the credit application explicitly states so.
My major point of contention is the fact that I could have prevented this problem from recurring had PayPal responded to my 1st email, or if thier response to my second email actually addressed my question.
posted on April 10, 2001 08:46:46 PM new
club1man, I have a problem figuring this out.
you see because in a reply to me on another thread here, Paypaldamon said that when someone sends money through paypal to me, it is not my property. Damon said that it still belongs to the seller untill I claim it.
So I do not understand how paypal could take any money that someone was sendig as yours, if you did not claim it?
Perhaps damon would be able to explain the apparent discrepancy between what he wrote and the situation where paypal continues to accept payments into a restricted account.
specifically why there is a difference between the money that someone is sending to a restricted account and sending money to someone who does not have a restricted account, or does not have an account at all for that matter?
posted on April 11, 2001 05:48:49 PM new
IT'S SIMPLE JIM.MY ACCOUNT WAS RESTRICTED. WHICH MEANS I COULDN'T ACCESS THE ACCOUNT BUT THEY LET PEOPLE PUT MONEY IN THE ACCOUNT AND THEN SUBTRACTED IT FROM THE MINUS BALANCE. MY BUSINESS IS SELLING GOLD AND PEOPLE TRUSTED ME ENOUGH THAT THEY JUST SENT MONEY KNOWING I WOULD BUY THEM THEIR GOLD. YOU CAN BE GUARANTEED THEY STILL TRUST ME BUT THEY STAY AWAY FROM PAYPAL LIKE IT'S A PLAGUE.
