Upload & Sell: Off
| p.1 #6 · I just learned something new about PayPal and it sucks! |
Indeed, PayPal made another attempt to transfer fund from my bank account last Friday, since I knew it was coming, I made sure I had enough funds to cover that transaction and the transfer was successful. Otherwise I would have got hit by another bank fee. I just saw the balance showing up in my PayPal account today, almost a week later. As soon as I saw it there, I transfered it back to my bank account which would take another week or so. So a big hassle just making a stupid mistake.
The thing that I didn't quite understand was why PayPal was still attempt to transfer money out of my account even though the seller quickly refunded my payment. PayPal's explanation was that when I initially made the payment, PayPal paid the seller upfront and then tried to get money from my account. When the withdraw failed due to insufficient fund, then they put a hold on my account and would make another attempt a few days later, never recognizing the refund had been issued already. According to PayPal, they would attempt to make a total of 3 transfers, so potentially someone would have to pay 3 bank fees, that is a quite costly mistake one can make. I wonder what the backup funding source is there for.
Anyway, I learned my lesson dealing with PayPal. From now on I will double check when I am ready to send payment.