Paypal surprise

jtaverner76 · #1 05-02-2011

Ok so here's the story which involves two PayPal accounts. I will try to explain as clearly and as best I can:

I'm selling normally on a stealth account for a while now and built up just over $7k in PayPal. I will call this PayPal account #1. It is verified with a virtual bank acct and a vcc. I wanted to withdraw this cash so the only way for me to do this was to transfer it to another account. Let's call this PayPal account #2. This #2 account is a few years old and is also stealth (bogus info) but is attached to a real bank account (Canadian). So I transfer all funds from PayPal #1 to #2. I then withdraw all $7000 from #2 immediately to my real bank account. The very next day #1 account gets limited and the $7k gets pulled from #2, back into #1 account for "suspicous transaction" and #2 account goes into negative $7000. HOWEVER! The bank transfer which I did the day before on #2 shows as completed so it has already gone through and couldn't be cancelled. Sure enough the next day I see the $7k in my bank account. So now #2 account is -$7000 (not limited, yet) and #1 account is +$7000 but limited and asking the usual bs to get back in good standing. So after all this I have my $7k in my bank account, but the $7k is back in #1 account (but limited). Since this happened I transfered that $7k to another bank account and called up my bank to close that account that was linked to PayPal #2 so they can't take it back nor hit with NSF charges. Is there anything else I should do? Has PayPal gifted me a free $7000? It sure looks like it! I want to point out that I did no wrong doing other than creating PayPal accounts with bogus info. Although violating PayPal's policy, in the eyes of the law this is not illegal. PayPal was the one who took action against me and effectively screwed themselves. As things stand now I will wait 180 days and hopefully be able to withdraw that $7k again. Please discuss your thoughts on this, and if I should take any other action.

ShadyOne · #2 05-02-2011

This is very illegal in the eyes of the law actually.

edit: I have no sympathy for PayPal though.

cherrqell · #3 05-02-2011

eventually they will catch it, and you will be liable to pay the money back. The bank will rule in favor of paypal if they can back up that they made an honest mistake. If you knowingly take the money and spend it, i beleive you can be brought up on charges. I would just let it sit in there forever, and see what happens. I doubt you will get to keep it. Looooooooooong shot at best. Good luck!

jtaverner76 · #4 05-02-2011

What if I do NOTHING? And how can they catch me? As I noted both PayPal accounts have bogus info. PayPal never withdrew from my real bank account once and now that I closed the bank account they can't get anything from it as the account does not exist. PayPal can't just request the bank to turn over information, and being in Canada it makes it even more difficult as we have better privacy laws here than in the USA. I'm not gonna cooperate with PayPal nor am I going to feed them any false info. Like I said, I'll do NOTHING. They brought this sh!t on themselves so let them solve it on their own. I'm glad they messed up on this. PayPal put me and many others thru so much bs and now they seem to be a victim of their own crimes haha!

Anyway I'll see how it plays and will know the true outcome in 180 days from now. Fingers crossed!!

jeffweico · #5 05-02-2011

As of right now, I do not think any laws have been broken, you have posession of $7k that is legitimately yours. Granted, you are in violation of PayPal's rules, but that is different from breaking the law.

However, if you take the $7k from the original account, it would be considered fraud. I know it is TEMPTING - who couldn't use an extra $7k? But the fact is, you are controlling both accounts.

It would be liike going to the bank one day and finding that somehow a $50k deposit was made to your account. Obviously, you did nothing wrong. But if you spend the money, knowing that it is not really yours, then that is a different story.

Don't be tempted by the dark side.

DISCLAIMER: I am NOT an attorney and this is NOT legal advice. If you need legal advice, please seek the services of a licensed attorney.

Melissa1971 · #6 05-02-2011

My guess is nothing will happen because Paypal is not a real merchant nor bound to any banking laws. Therefore the Bank will probably just say oh well you're out the money.

If they willfully gave you $7000 then that's their choice.

I can't stand Paypal and no doubt it is clouding my perspective on this issue but when the Dirtiest Thief of them all (Paypal) is taken by an amateur thief, I loose no sleep

Melissa1971 · #7 05-02-2011

It will be interesting to see how it plays out

But I believe Privacy laws forbid the bank from providing any information unless Paypal can show a crime has been committed

I don't see a crime, both Paypal and yourself did not abide by the agreement so how they can whine and someone will listen is beyond me in my opinion