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Archive 2013 · I just learned something new about PayPal and it sucks!
  
 
Jayem1
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p.1 #1 · p.1 #1 · I just learned something new about PayPal and it sucks!


I made a purchase this past weekend and used Paypal. While going through the process to send payment, I forgot to change the funding source from linked bank account to credit card which I didn't have enough balance to cover the transaction. After sending the payment, I immediately realized that mistake, and ask the seller to refund the payment so I could send it again using credit card. The seller quickly refunded in a couple of minutes and I confirmed the refund status in my account. So payment was sent successfully using CC and that was it, at least I thought so.

Today I received an email from Paypal notifying me that the payment I sent the first time was denied by my bank for insufficient fund and Paypal advised to deposit money in the bank account so the transfer would be ok as Paypal would attempt to make another transfer in a couple of days. I quickly logged in my bank account and I was hit with $30 insufficient fund fee, no surprise there. Called the bank and was told that Paypal would attemtp to make another scheduled transfer in a few days and I'd better have enough balance to cover that, otherwise I would be hit with another bank fee.

So I called Paypal after long wait and got transfered a couple of times to talk to a knowledgeable representative. She confirmed that Paypal indeed would make another attempt to transfer fund even though it was clearly shown that seller had already made the refund. She told me once that transfer was initiated the first time, Paypal could not stop it, so I had to put money in my account to cover that transaction, and transfer it back later to my bank account.

Maybe this is common knowledge for most Paypal users, but this is new to me and I will be very careful next time before I hit the 'Sending Payment' button!



Feb 27, 2013 at 12:30 AM
jcolwell
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p.1 #2 · p.1 #2 · I just learned something new about PayPal and it sucks!


Interesting. When I do something stupid like that (last time was only about two weeks ago), PayPal sends me a NSF notice and automatically uses the backup credit card. In this case, I still have to pay the stupid tax to the bank (NSF fees), but PayPal seems to be happy enough.


Feb 27, 2013 at 11:58 AM
borderlight
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p.1 #3 · p.1 #3 · I just learned something new about PayPal and it sucks!


I don't like inter-connected personal money sources like with PayPal and banking and/or credit card. Besides the NSF fee, not tax, there is a concern if the PayPal card is stolen. A PayPal card set up that way could equal three headaches instead of one. As a result I have disconnected the "cover the transaction" alternative sources. You know that when your are over-the-limit with a credit card that's it. Be aware of your balance and expect a decline if you aren't.


Feb 27, 2013 at 04:08 PM
jcolwell
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p.1 #4 · p.1 #4 · I just learned something new about PayPal and it sucks!


borderlight wrote:
... Be aware of your balance and expect a decline if you aren't.


Like I said, stupid tax.



Feb 27, 2013 at 05:32 PM
CGrindahl
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p.1 #5 · p.1 #5 · I just learned something new about PayPal and it sucks!


Obviously, Paypal prefers to take money from you account and thereby avoid CC processing fees. And they try to ensnare us with the default setting for every transaction having the funds drawn from that bank account. So we must stop every time and select the option of using a credit card. It is a pain in the butt for sure. I'll use Paypal only when I must use it, which is typically for items bought through E-Bay. On FM, I prefer to deal with folks I trust and then to pay with a personal check. Life is much simpler that way.

Hope you've finally sorted this all out.



Feb 28, 2013 at 08:21 PM
 

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Jayem1
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p.1 #6 · 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.



Mar 08, 2013 at 04:33 AM
Wahoowa
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p.1 #7 · p.1 #7 · I just learned something new about PayPal and it sucks!


And Paypal makes your bank account a default payment option with no possible preference setting on it. How shady is that? One of many reasons I hate Paypal.


Mar 11, 2013 at 03:57 PM
margie kup
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p.1 #8 · p.1 #8 · I just learned something new about PayPal and it sucks!


One of many reasons I never buy or sell if I have to use Paypal. They tried to steal $500 out of my PayPal account when I had one. Only the threat of law suite got any action from PayPal. Who wants to deal with any company, especially those that are messing with your money, that communicates only by electronic canned messages. PayPal in my opinion is a dishonest , unethical company. The words are dishonest, not truthful and sleezy. Of course they, Paypal, stay in the letter of the law and that is about it. They care nothing about their customers. Always more in line. No competition and no regulation like banks. My opinions are formed solely on bad experiences I have had with Paypal. They also tout their so called strong protection. Read all the horror stories they have created over the years. Never vote for Meg.


Mar 24, 2013 at 02:46 PM
crteach
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p.1 #9 · p.1 #9 · I just learned something new about PayPal and it sucks!


I accidentally did the same thing with not paying via CC as I intended but instead leaving it linked to my bank account, which had NSF. Fortunately, my bank covered the overdraft (i have more than one account with them and those accounts easily covered the payment I was making) but still hit me with the service charge. However, when I went in and talked to the bank folks the next day to admit my mistake they took the fee off. It pays to be in a small town where you know your bankers!


Mar 27, 2013 at 03:00 AM
molson
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p.1 #10 · p.1 #10 · I just learned something new about PayPal and it sucks!


That's why I don't allow PayPal to access my bank account.


Apr 23, 2013 at 03:52 PM





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