Close PayPal Account, please read

[mosguy]

Hello,

Pls advise, i need help on this.

Can PayPal limit a close account and hold amount or chargeback on that account and reverse whatever the close account has sent out ?

Remember the account has being closed by the user itself.

Pls help, anyone knows?

Let me explain again

Example:

1) User A send out some money to User B.
2) User A close PayPal account.
3) PayPal allow user A to close account.
4) Customer C chargeback on User A, but User A account is closed.

Can PayPal still reverse the money which sent out to User B and set limit on User A account ?

Pls help

[mosguy]

Let me explain again

Example:

1) User A send out some money to User B.
2) User A close PayPal account.
3) PayPal allow user A to close account.
4) Customer C chargeback on User A, but User A account is closed.

Can PayPal still reverse the money which sent out to User B and set limit on User A account ?

Pls help

Yes they can. But no limit would be necessary.

[GreenBean]

I have heard of paypal touching a bank account on a closed account.
It is something they can do. Which country is the paypal?

[mosguy]

As U know, PayPal like to send RXI034 code and reverse the transaction you send out,

Can they reverse the transaction you sent out even there is no chargeback after u close the account?

Paypal can do so. I can't imagine why they would, unless the activity on the account were so suspicious that the were compelled to such pre-emtptive measures.

Are you asking a hypothetical generic question? Or is there something specific you could inquire about, without revealing things we don't need to know?

[mosguy]

So u mean it is better not to close an account after some activity and let it rest for sometime?

That depends on the activity you are referring to. However, closing your account will not prevent Paypal from reversing a previous transaction, if they choose to do so.

If your transactions were good and your buyers not dishonest, you should have little to worry about. If one of your buyers used a fraudulent method of payment to purchase something from you and Paypal must reverse the payment, they would take it from your Paypal balance, then your bank, then your credit card (whichever worked first and whichever they had access to). If your account is closed, they can still attempt the reversal of a transaction that took place prior to your account being closed.

[mosguy]

Hello, thanks for the reply, but how do u know this? Have u encounter this before?

You are welcome for my other replies.

I decline to answer your question about my possible encounters. That has no relevance in relation to your original issue.

[mosguy]

I see, but are u sure about that? I just want to confirm the answer

[GreenBean]

I can confirm what you got told.

I know that if a buyer uses a fraudulent method to send a payment to you via Paypal and that payment is later stopped by the source of the funding, Paypal would reverse it.

Example: A buys something from B. A uses a stolen card. B closes Paypal account for any reason, innocent or otherwise. The card company who issued the card misused by A would stop or reverse the transaction. Paypal would lose the funds retracted by the card company. Paypal would reverse the funds transferred to B originally from A. Closing B's account would not circumvent the reversal and the recovery of funds from B, because the original trasaction had in fact taken place while an agreement was in effect regarding funds and fraud and who is ultimately affected.

That is all documented deep within Paypal's TOS in combination with laws regarding financial transactions.

I do not understand what possible scenario would cause you to be so stressed about my answer. However, my answer will not change.

[mosguy]

i see, thanks for your answer,

Btw, do u know what is RXI023 about? So far i never see anyone talking about it

You are welcome for the answer.

I am not familiar with RXI023. My Google search produced this result. I do not know if it will help you.