Quote:
Originally Posted by CPUGEEK  I never heard of paypal taking money out of your account but I did hear of them canceling a deposit. But they will cancel it before it hits your bank account |
PAYPAL:
No, they reversed two transactions for $3400. total on a friend of mine. Deposited one day, taken right out the next. If he had been quicker he could have gotten the money out and left a zero balance, but he did not. Also, who knows, maybe his bank would have ended up with a negative balance owed.
He complained to the bank, tried to call it an unauthorized debit (because the link between PP and his bank had been severed that same day), reported to the FTC, etc., but in the end PP called it a "reversal" and got away with it.
ALSO - any credit card processor DOES have the right to pull cash right out of your bank account in the event of a chargeback, so I don't see how PP would be foreclosed from doing something which amounts to the same thing.
GOOGLE:
The way Googlecheckout works is they put cash into your linked bank account on a regular, weekly basis.
REGULAR CREDIT CARD PROCESSORS:
The cash goes into your account relatively quickly, usually within 48 hours, but in some cases they can hold it up for days while they ask for verification - such as a signed copy of the charge slip, or the guy's driver's license, address, copy of invoices, whatever they want to feel comfortable. In extreme circumstances have been known to mail a check rather than EFT.
