I'm so mad! Paypal transferred $600

[WantToBeDebtFre]

I went online to check my bank account today because my husband's check get direct deposited today and there was hardly any money in my account. I looked and Paypal transferred $600 from my account. So I logged on my paypal account and it's on hold and they're investigating a $600 charge from my account to someone else's. I'm so mad! I called them and they said it could be up to 30 days before I get the money back.

I'm not going to be using paypal anymore, that's for sure. losing $600 hurts, even if it is only temporary.

[arkienurse]

I went online to check my bank account today because my husband's check get direct deposited today and there was hardly any money in my account. I looked and Paypal transferred $600 from my account. So I logged on my paypal account and it's on hold and they're investigating a $600 charge from my account to someone else's. I'm so mad! I called them and they said it could be up to 30 days before I get the money back.

I'm not going to be using paypal anymore, that's for sure. losing $600 hurts, even if it is only temporary.

Worry about something like this is why I have my paypal linked to a separate account, not used for bills, or anything but paypal/ebay. I read one of the ebay newsgroups and had just seen too many posts about paypal chargebacks to be comfy letting them into my main account.

[WantToBeDebtFre]

That's what my mom told me too. I was like - Thanks for telling me now. I thought all that was more secure.

[325Falcon]

I dont quite understand how paypal could take money from you bank for any reason without out you alowing it. Can you please explain further?
Thanks

[Granny]

Yes, please explain.

[CATCHMEIFYOUCAN]

When you set up Pay Pal to begin with, on line. Did you have your bank account linked? For example. Lately I've been buying junk of ebay. I use my debit card to pay for things I dont have a pay pal line of credit anymore, I screwed them over in BK. As I was verifying my "new account," with ebay and adding how I'm to pay for things. Paypal request and requires a checking account to be used in case funds aren't available with my debit (credit card) as "back up." So this gives them the right to take money from you checking account in case you commit to buy something and aren't able to follow through with it!

Does my explanation help? Similiar to the "cross collateral," rule that most credit unions have. They can take funds from your checking account to pay towards any credit cards you might have linked with them!

Best to you! Catchmeifyoucan

[pa308]

now you have me concerned. i have a gemb credit card that i am not paying on (a couple actually). i have a paypal with about 20$ in it. are you saying they can take money out of my linked bank account for the credit cards that are past due???

[Granny]

Does my explanation help? Similiar to the "cross collateral," rule that most credit unions have. They can take funds from your checking account to pay towards any credit cards you might have linked with them!

Best to you! Catchmeifyoucan

Is this just for purchases/payments that didn't get approved with the credit card or to pay back a credit card that is now in default.

Hubby had a Direct Merchants (not included in my bk) that we have since stopped paying on. I used this card in the past to pay for ebay purchases, via paypal. Are you saying Direct Merchants can tap into my default debit card via paypal for a payment on the now defaulted Direct Merchants?

If so, what steps can I take to prevent this from happening?
1. Close default debit card/checking account
2. Remove Direct Merchants from paypal account (I think I already did this)
3. Close paypal account?

Thanks

[chpxiii]

PayPal requires either a bank account or credit card to be linked to your PayPal account.

PayPal does this so that if you purchase something using PayPal as a payment method, if you do not have enough funds in your PayPal account to make the purchase, PayPal will automatically withdraw the difference from your linked bank account or credit card. You can also initiate a withdrawal from your bank account or credit card to have funds deposited to your PayPal account so you can have money in there to use for PayPal activities.

Neither your bank nor credit card company will withdraw from PayPal. PayPal is the one that deposits money into your bank account or credit card. PayPal will allow you to withdraw money against your PayPal account and deposit it to your linked bank account. (I don't know if you can deposit it to a linked credit card.)

[Granny]

Are these Paypal problems occuring with seller accounts only or are buyer accounts also at risk?

[WantToBeDebtFre]

OK. I'll explain. I have paypal account but I only had $11 in it. If I buy something using paypal and I don't have enough money in the paypal account I have it set up where they automically take it from my checking account. Someone, somehow transferred $600 from my paypal account to their own. Paypal flagged it as suspicious activity but still withdrew the money from my bank account. So I have to wait until their investigation is over until I can get my money. They said it could take up to 30 days but if I don't get my money by Wednesday of next week I'm going to call and DEMAND my money right away. My family can't go without that money.
Then I'm going to close my paypal account after I get this taken care of.

[chpxiii]

Kari,

Is it possible your PayPal account was hacked?

[tinroofrusted]

If I were you, I would check my eBay account AND Paypal account daily, and put a stop paymnent on any further PayPal withdrawals.
I would also file fraud with your bank.

Good luck dealing with eBay though. The same thing hapepned to me, and I closed my account because of thier incompentence!

[BKOnce]

Consider it .... *hacked*

[chpxiii]

eBay owns PayPal.