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Old 08-20-2009
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Default Will Paypal take money from my Bank Account with nil balance

Here's the deal.

I have a bank account associated with my Paypal account, and it is a "secondary source payment" for the Paypal plugin.


I notice that the Paypal plugin says it will take money from your secondary payment source (bank account) if you don't have enough funds in your Paypal balance.

Well what if my bank account has $0.00

Let's say I try purchasing an item for $50 with a Secure Card, but my Paypal balance is $25, and I have $0 in my bank account.

Will paypal overdraft my bank account?
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Old 08-20-2009
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'overdraft' is not the exact term. Your bank account will go to a negative balance. You will owe money to your bank. Your bank will be annoyed. You will be annoyed at the bank for being annoyed with you. Paypal will not care. they might try more than once to take the money from that back-up account. You will go more into a negative balance.... yada yada

Simple solution: have money in the back up account or don't attach it to paypal.
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Old 08-20-2009
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Quote:
Originally Posted by GreenBean View Post
'overdraft' is not the exact term. Your bank account will go to a negative balance. You will owe money to your bank. Your bank will be annoyed. You will be annoyed at the bank for being annoyed with you. Paypal will not care. they might try more than once to take the money from that back-up account. You will go more into a negative balance.... yada yada

Simple solution: have money in the back up account or don't attach it to paypal.
If I use a netspend account will I be alright?

I heard there are no overdraft fees for a netspend account.
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Old 08-21-2009
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question, if i have a paypal account that has a verified bank linked to that paypal, and if i have a 0 balance on paypal, but a buyer opens a dispute thus putting me in negative, will paypal automatically try to withdraw money from my bank?
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Old 08-22-2009
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ye happened to me with ebay fees.... like 4 overdrafts charges i terminated the bank account and gave ebay a big ''i owe u''
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Old 08-22-2009
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Originally Posted by nobody999 View Post
question, if i have a paypal account that has a verified bank linked to that paypal, and if i have a 0 balance on paypal, but a buyer opens a dispute thus putting me in negative, will paypal automatically try to withdraw money from my bank?
yes, and if they cannot, they will find you and send collection agencies to collect for them

If you used stealth and closed the bank account though, what can they do.
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Old 08-22-2009
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If I want to stop PP taking (or trying to take) money out of an account I go online and cancel the DD.

Has to be done sharpish and the cancellation isn't instant but so far PP have got nothing from me or managed to push an account into a -ve balance.

CaptainJack.
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Old 08-22-2009
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It will go in the negative if you get disputes and such - even having no bank account tied to it won't change that. Only difference it will make is that they won't be able to go after you if it is a stealth account.
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Old 08-22-2009
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Sorry, meant bank account into -ve....

Had more -ve balance paypal accounts than I had hot dinners lol.

CaptainJack
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Old 08-22-2009
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I just was foreced to refund, which was withdrawn directly from my bank account evening knowing my avaible balance would have covered the amount. So To be clear: When limited, refunding your customer is no longer an option, they will hold you PP balance and with drawl directly from your bank account. As of 8/19/09, new user aggreement.
'Now I am over drafted!"
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Old 08-22-2009
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Bunch of little checker****... that's disgusting keeping the money of a limited account and withdrawing more. They supposedly keep that money for 180 days for those exact occasions: just proves they use this measures to keep their float steady. Even if velcro demonstrated they'd make more money by allowing transfers, doesn't seem to hold for this particular case.

I'd close my bank account as soon as I got limited, provided I have an address they could send the check too in 180 days. Those rats would not get a cent more.
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Old 08-22-2009
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Quote:
Originally Posted by TigerLord View Post
It will go in the negative if you get disputes and such - even having no bank account tied to it won't change that. Only difference it will make is that they won't be able to go after you if it is a stealth account.
If I go negative /let's say for $500/, because a dispute and the dispute has started a week ago and I sell another item /for $100/ - is Paypal going to keep on hold these $100 till the dispute is over or till I fix the negative balance or both? I have no real bank or credit card attached to this Paypal account and I have no intentions of fixing the negative balance. But I sold an item at the same day the dispute appear and I am wondering if I have to ship it or return the money and sell it with another account of mine.
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Old 08-22-2009
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If you have a negative of -500$ and sell an item for 100$ (I assume your account is neither limited or suspended) it will contribute to the overall balance and it'll move to -400$.

If your account was limited while you still had active listings and it sells, I am pretty certain Paypal will keep the money.

If you intended to close the account, better close it, leave it at -500$ and resell the item, because you won't get it with a negative balance.

Last edited by TigerLord; 08-22-2009 at 05:37 PM.
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Old 08-22-2009
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Quote:
Originally Posted by TigerLord View Post
yes, and if they cannot, they will find you and send collection agencies to collect for them

If you used stealth and closed the bank account though, what can they do.
so if buyer openes dispute and paypal tries to get my money but can't then doesn't the buyer lose money? i remember years ago i had to open a dispute as a buyer, the seller didn't have any money in his paypal account, and paypal basically told me sorry, seller doesn't have the money for us to get...
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Old 08-22-2009
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Quote:
Originally Posted by TigerLord View Post
Bunch of little checker****... that's disgusting keeping the money of a limited account and withdrawing more. They supposedly keep that money for 180 days for those exact occasions: just proves they use this measures to keep their float steady. Even if velcro demonstrated they'd make more money by allowing transfers, doesn't seem to hold for this particular case.

I'd close my bank account as soon as I got limited, provided I have an address they could send the check too in 180 days. Those rats would not get a cent more.
if you have a stealth paypal and close your bank account when your limited and have a bad address, how do you get the money after 180 days? can you put another bank account info on there or change the address info during limited acount?
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Old 08-22-2009
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No, you need to have access to the address, or leave the bank account there. You can no longer add a bank account after it's limited, a recent change made by Paypal.

If you removed bank account and have a bad address, consider the money lost.
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