rhpepsi
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posted on September 12, 2005 06:15:30 AM
Banks were notified but didn't react. PayPal, within the past week has changed their policy on ATM transactions. In the past, if you withdrew money from your account at an ATM, the bank was given 10 days to charge/verify it. NOW it is only THREE days, so the banks are not doing it in time and your account will show reversals/extra withdrawals. A real pleasure for those accountants out there.
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fenix03
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posted on September 12, 2005 09:00:35 AM
ATM machine charges are immediately debited. I believe you mean the batching of debit card purchases. If as a merchant it takes you a week to batch your charges then you have bigger problems that a new PayPal deadline. Most merchants batch every night.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
An intelligent deaf-mute is better than an ignorant person who can speak.
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toolhound
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posted on September 12, 2005 09:23:28 AM
I noticed that four of my debit card purchases in the last week were reversed and then recharged later. Makes it a pain to keep track of my balance.
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sanmar
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posted on September 12, 2005 10:47:15 AM
I don't know why this should be a problem, the banking industry changed the timing from 10 days to three days some time afo with the advent of electronic moving of checks through the Fed Reserve System.
Life Is Too Short To Drink Bad Wine
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stopwhining
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posted on September 12, 2005 01:26:53 PM
I have no idea what pepsi is talking about?
-sig file -------
Eat grass,kick ass,never go belly up!
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rhpepsi
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posted on September 12, 2005 01:28:23 PM
PayPal just switched this last week and said that they let the banks know...but on the 7th I withdrew $300...they reversed it on the 11th....I have the original $300 cash and now I can get some more if I want it..Paypal says that the bank "will catch it" and charge again..just one big pain in the butt
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stopwhining
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posted on September 12, 2005 02:25:17 PM
how can this be a big pain unless you want to ride the float??
-sig file -------
Eat grass,kick ass,never go belly up!
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carolinetyler
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posted on September 13, 2005 06:13:22 AM
I was wondering what happened - I made a debit card purchase Friday at the grocery store, today it shows as expired. I wonder if there is a time limit on how long they can recharge it?
~~~~~~~~~~~~~~~~~~
 Caroline
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rhpepsi
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posted on September 13, 2005 11:51:15 AM
tomorrow will be a week since I withdrew the money...they reversed it on Sunday (11th) ..still has not shown up as being taken back out...gonna make a list of the "slow" banks and start investing this "free" money
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HelgaGPataki
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posted on September 13, 2005 06:27:49 PM
So is this just ATM withdrawls? If I continue to use my card as a credit/debit does this happen? This is going to make it hard to keep up with my balance.
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rhpepsi
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posted on September 13, 2005 06:49:44 PM
Instead of "transferring" money OUT OF PAYPAL..I withdraw it from any ATM..then deposit it in a bank account. Happened AGAIN TODAY...another reversal..I withdrew some cash from an ATM on SEPT 9th...it "expired" (shown on PayPal) today and a reversal of that amount was ADDED back to my account today. Also the ORIGINAL one I complained about FINALLY got charged back to account (took a week)....three different banks....
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coincoach
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posted on September 13, 2005 08:53:25 PM
I had 2 transactions--Post Office, grocery store where I paid with debit card and withdrew cash. Since then these withdrawals have been debited and credited about 3 times. I have gone from $100 over what my balance should have been to negative $90.00 in the last 10 days. My account is a mess and it is difficult to determine what my true balance is anymore.
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rhpepsi
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posted on September 13, 2005 08:59:06 PM
Mine was negative for 2 days..PayPal was "not concerned"..their reply was that it was fixed..yeah..2 days later on the DOUBLE WITHDRAWAL. Using "small numbers"...say $100...do that to 20,000 members(very small amount) per day for say a week...now what could I spend $14 million dollars on...as long as I give it back..or maybe see how long it "floats".....
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sparkz
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posted on September 13, 2005 09:23:21 PM
When Paypal was originally set up it was free. They were to make their profit on the float. When they couldn't make it work, they started charging fees to the sellers. Sounds like they finally figured out how to make a profit on the float. Smart people. Wonder how long it will be before they announce an end to seller fees?
A $75.00 solid state device will always blow first to protect a 25 cent fuse ~ Murphy's Law
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HelgaGPataki
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posted on September 14, 2005 02:30:38 AM
Is this how it's going to be from now on or is this a temporary glitch?
I don't like this ~ it's incredibly confusing and could really cause problems. I have $76 in my account that I should not have. I use my card all the time ~ if all of the transactions start getting reversed I'm not going to have any way to track what I actually have in that account and what I do not. Right now it's not hard for me to tell what is in my account because the $76 is the only thing reversed at the moment but I used my card...6 times yesterday.
I don't like this at all.
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toolhound
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posted on September 14, 2005 04:34:23 AM
This morning I have $230.00 more in my PayPal account than I should have. What a mess this is turning into. If rhpepsi had not started this thread I probably would not have even noticed this happening. I usually just check my balance and know that is how much I can spend on my debit card.
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cblev65252
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posted on September 14, 2005 04:40:37 AM
It's happening even if you use your debit card to purchase something. I also have extra money in my account that should not be there. So, it doesn't look like this is purely a "bank being slow" issue.
PayPal - FIX THIS MESS YOU MADE. If it ain't broke, why are you trying to fix it??????
Cheryl
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stopwhining
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posted on September 14, 2005 05:45:58 AM
some places like the gas station,will authorise your card first with 1 dollar,then this get reversed when the actual charge comes in.
Anyway,if there is not sufficient fund in your paypal account,paypal will give you a few days to transfer fund from your bank account to cover the shortage.
-sig file -------
Eat grass,kick ass,never go belly up!
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pandorasbox
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posted on September 14, 2005 10:17:12 PM
Here is PayPal's answer to the ATM glitch:
http://forums.ebay.com/db2/thread.jspa?threadID=2000023859&start=0
There's also a rep there offering to sort things out...
Best,
Michael
---------------------------
Internet Talk Radio
Everything eBay...and More. E-Auction-Air
[ edited by pandorasbox on Sep 14, 2005 10:17 PM ]
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