posted on February 16, 2001 02:15:36 PM new
I got paid for an item from a verified account and non-credit card funds.
Today I get email saying transaction is reversed since the funds are fraudulent!!
I mean waht the FFF??? I though that was the point of verification!!!
And now I look at the Seller Protection policy...it only applies to Business Accounts! That was not always the case. And I did review the TOU before today, I just dont know when Paypal changed that requirement.
WTF WTF WTF WTF!!!! Freaking crooks!!!!!!!
It must be some kind of new scam...the crook opens a bank account with no money and the instant transfer charges a fraudulent card...reason I am posting this is because i have a few transactions that I am not quite sure about....
posted on February 17, 2001 11:25:19 AM new
Seller protection applies to Premier accounts also. However, I do have a concern about the potential for situations like yours given that, if the buyer in such a situation refused to give a verified address, I'd have approved the transaction thinking that the Seller Protection wasn't necessary (since it was a non-CC transaction), thereby waiving my protection!
posted on February 17, 2001 11:57:59 AM new
Is there any chance the person paid you with PayPal balance funds that THEY received from someone else using a credit card?
Example:
Buyer A pays Seller B with a PayPal/Credit Card charge.
Seller B buys item from Seller C using the new balance in their PayPal account.
Buyer A's charge turns out to be fraudulent.
Seller B's PayPal account is empty, so PayPal recovers the funds from Seller C.
posted on February 17, 2001 04:32:19 PM new
I keep telling folks that the Paypal "protection" plan was put in place to protect paypal. They call it "buyers/sellers protection" because they can go after any buyer or seller down the line until they find someone with money they can take. The best way to protect yourself is:
- convince your buyers to use Moneyzap or Achex
- if they insist on using Paypal, make it non credit card only
- withdraw the funds immediately after receiving them
- if they steal it (excuse me, "reverse it" from your bank account, go to your bank and file an affidavit denying them the right to do this
from your bank account, go to your bank and file an affidavit denying them the right to do this