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Can paypal reverse a bank withdrawal?
 

So lets say you withdraw and the payment says completed but it has not yet hit your bank yet and then paypal limits your account before the money hits your bank but on paypal it says completed will paypal reverse that transaction.I am so worried I shipped out $1500 of goods but the payments have not hit my bank yet.

Once it says completed, it will end up in your bank account. Paypal does not reverse completed withdrawals. You should have them tomorrow morning in your bank account :)

I transfer to my bank everyday and paypal reversed one of them and didn't notify me, so I just tried again the next day when I noticed and it went through the second time???:juggle:

Actually, paypal does reverse withdrawls. I had withdrawn money from paypal to my bank account. It was in the process of processing. A few days later the money was back in my paypal account, transaction was cancelled by paypal. They wanted more information because I used an initial which is a part of my name. I sent them everything they wanted but it did not work. Long story short, I had to wait 180 days to get my money and now that account is permanently closed.

I once had a bank account that the bank was able to block all debits (money taken from the account). They don't like to do that, but well that'd be awesome if you can get a bank to do that. I don't use paypal but maybe if you can get them to work with a savings account and then after 6 withdraws a month, they can't withdraw again and paypal can't take the money out.

HoneyWood, Welcome to the forum! :yar:

This thread states that paypal cannot cancel a withdraw unless it says pending, like in your case you said it was still processing. Once it says completed, they can't stop it.

i withdrew money from my paypal 5 days ago.
after 1 day the process completed but not reflect to my CC yet.
2nd days after that, my paypal limited.
i'm worry that time if they reserve the payment
BUT
yesterday i got the money in my CC.

can use new account now with no worry about that account

Re: Can paypal reverse a bank withdrawal?
 

philly is wrong.

On 2 different PP accounts,
my bank withdrawal was in my bank and available to me,
but then several days later it was REVERSED,
like a ghost fading into the walls of an ancient castle.

I was nonplussed since I couldn't understand how PP
could have such power to just rip money out of my bank account.

When you are least expecting it, PP can "reverse"
your recent bank withdrawals.

They took all my earnings so that I then
had a healthy PP balance, then limited my account.
I had recently doubled my sales efforts,
and without the earnings from the not-yet-shipped items,
I could not pay rent which was due in a few days.
More to the point, without my earnings at hand
I could not ship my latest sales!

Yet PP demanded I provide them with tracking #s
of the 5 most recent sales, which I had not yet shipped
and which I was going to use the earnings to procure them.
So I had to cancel all 5 sales, and let the PP die
because there was no way to jump through their hoop.

That was an account with 100% positive feedback
and no problems whatsoever. My only crime was
doubling my sales.

PP's only reason for reversing my earnings
and limiting my acct was because, "We've noticed
unusual activity...therefore we'll need you to provide
the following impossible details."

On the other acct, PP demanding I provide tracking #'s
"for the following list of transactions," which I HAD and COULD provide,
yet there was no way to enter anything into the boxes where
the tracking #'s were supposed to go.
So the website itself rendered it impossible even to complete their Kafkaesque demands.

Also, even if you close the bank account after withdrawing to it
and get the cash, PP STILL has 10 days (for my bank anyway)
to reverse it and the account will re-open, then become negative.

In conclusion, PP can reverse bank withdrawals
regardless whether they are pending or completed.

Re: Can paypal reverse a bank withdrawal?
 

Just go into paypal and uncheck your bank account as an available funding source, just keep your CC

I do this with all my accounts and never had anything charged to my bank, if your bank is checked off as a funding source than u are giving paypal permission to use it

Re: Can paypal reverse a bank withdrawal?
 

Yes, and TECHNICALLY these are not "reversals" so much as new withdrawals. When you sign up for PayPal, part of the user agreement states that they can attempt to recover any monies owed by debiting your credit card or checking account for the amount due. Amazon does the same thing.

On PayPal, unless you opt out by un-checking that box Dmshark mentioned, then they are still within their rights to try to get the money back from your bank account. If it were money that I could not afford to lose, then I would either move the money out of that account, into a different one OR close the account OR ask the bank to block all ACH transfers. This last one can be difficult because most banks really don't want to do it. But they CAN do it, it is all laid out in the ACH processing agreements.

Of course, the best way to stop these things from happening is to prevent them from becoming issues in the first place. Sometimes that is impossible, but usually when something like this happens, we see there was a way it could have been prevented.

Re: Can paypal reverse a bank withdrawal?
 

Where do you go for this? I can't seem to find it on my Paypal profile.

Re: Can paypal reverse a bank withdrawal?
 

Go under Profile in PayPal and find a link that says pre approved payments

Re: Can paypal reverse a bank withdrawal?
 

wallet,classic,mymoney,preapproved, bam...:ranger:

Re: Can paypal reverse a bank withdrawal?
 

Can this still be done with an account with permanent limitation, that shows you cannot close account, send, receive, etc? (all the little x marks on the right side of what you can and cant do whilst account is limited)

Re: Can paypal reverse a bank withdrawal?
 

I always do it when I add my bank account and verify, but they will not let you remove your bank as a funding source once the account is limited

If the paypal account is limited close your bank account if your worried that they will withdraw funds

Re: Can paypal reverse a bank withdrawal?
 

Never had this issue happen to me before.

Re: Can paypal reverse a bank withdrawal?
 

Once it's completed, it's completed. Same applies for Amazon regardless of your account being deleted or suspended.

Re: Can paypal reverse a bank withdrawal?
 

Not true. Happened to me for $8,000.

Re: Can paypal reverse a bank withdrawal?
 

Ouch!:fight:

I clear money out of that account, too, to limit what they cant take back. In case it ever happens.

Re: Can paypal reverse a bank withdrawal?
 

Also - depending on your needs - you can make an account deposit only and then online services can't take funds back.

The only issue is that for withdrawal, ATM would not work either so you would have to go into the bank and deal with teller :(

Re: Can paypal reverse a bank withdrawal?
 

Same story with me, new account, 100% positive, but some dude bought 5 different items (4 each) so it was $120, only had $600 sales in 4 months so I was growing it slow, not they got my money for 180 days, no worries as I have 3 other accts but had been babying that one as a strong back up. Ebay loved me, paypal hates me.