Paypal Reversing Deposits

[scoobyjimbo]

Paypal are now reversing deposits to find details of the said account attached to it, ie your real name is then sent to paypal and boom your new account stealth or real is gone. Please make sure the names match up or your account will be gone forever...

[oompaloompa]

reversing money you initially withdrew? the whole lot or part of it.

we heard of this but very rare, never happened to me and i have quite a few accs.

can you tell us roughly why you think this happened what violations or are they trying to prove a link?

[scoobyjimbo]

New account deposits were taken back after first few sales, contacted on number linked to account and verification was an issue, so i am assuming the details not being the same were the cause of the problem.

[oompaloompa]

which banks?

they would not know it is mismatched details unless bank rejected it.

it could be a bank issue or they are suspicious of you being linked to another user.

this is not normal, it hardly ever happens, so unless we get more reports, this is the assumption,

the issue is something to do with your acc or possibly the bank you used.

[infinitelyannoyed]

I made a withdrawal from stealth account a few days ago - which would take upto 3 working days. Checked PP and now says reversed.

Went to withdraw again as it said it didn't go through due to technical issue...and now it is asking me to add bank account and sortcode again!!

What has happened??

[scoobyjimbo]

Halifax and i do know if a merchant lets say in this instance is pp once they reverse the deposits it shows the details of the acc it was retrieved from ie the name of holder or the first second initial and the surname.

[scoobyjimbo]

Sounds like the bank is not matched to pp are your deposits from pp still visible in your bank or have pp reversed them?

[mari]

I have had pp do reversals of deposits that were in my account. It only happened when I used a prepaid card as opposed to a real bank. They reversed the deposit and then limited my account.

[GreenBean]

Originally Posted by scoobyjimbo

New account deposits were taken back after first few sales, contacted on number linked to account and verification was an issue, so i am assuming the details not being the same were the cause of the problem.

Halifax has had glitches for months.

What sort of account are you using?

[donkeykong2012]

I have never seen this happen either.

It sounds like a glitch to me.

[NoneOther]

I'm pretty sure that under the DD Guarantee Scheme the payment processor can only reverse the payment if there is an issue with the originating source i.e. there is a problem with your buyers payment method.

p/p cannot initiate a payment from your account if you do not owe them money, they cannot just reverse a payment or request a payment with the express intention of seeing your account information.

As others have already indicated this is more than likely a problem with either your bank rejecting the DD mandate (probably because it's a saver rather than a basic or current account), your buyers payment method or with how your p/p account has been set up.

There have been a few recent reports as to the unpredictability of Halifax and particularly their saver accounts.

You need to bear in mind who actually now own Halifax and there may well have been changes to their operating procedures that make their accounts less suitable for stealth purposes

[infinitelyannoyed]

Originally Posted by scoobyjimbo

Sounds like the bank is not matched to pp are your deposits from pp still visible in your bank or have pp reversed them?

My PP deposit and code is still showing in my recent transactions.

[blueuk]

As they make the initial 1p deposit with code as a faster payment (the same way withdrawals are done)

And someone correct me if I am wrong.... But there is no way for them to "reverse or recall"

Now, theres nothing to stop them using the DD Agreement to take back the 1p.

Faster payments don't have that facility.

[mari]

Yes they can and have reversed deposits. I even called paypal after seeing that they reversed the deposit that was actually in my bank account and their reason was that my account was limited and they could do reversals on any deposits. I had no claims or disputes open, there was no reason to limit the account and they basically lied about the reversal and the reason for it.

[blueuk]

Originally Posted by mari

Yes they can and have reversed deposits. I even called paypal after seeing that they reversed the deposit that was actually in my bank account and their reason was that my account was limited and they could do reversals on any deposits. I had no claims or disputes open, there was no reason to limit the account and they basically lied about the reversal and the reason for it.

Mari this is a UK thread in the UK section.

I have absolutely no experience of USA banking, although I do know it greatly differs from how things work here in the UK.

[rsot]

UK experience with my HSBC has not had this problem occur

[GreenBean]

Originally Posted by mari

Yes they can and have reversed deposits. I even called paypal after seeing that they reversed the deposit that was actually in my bank account and their reason was that my account was limited and they could do reversals on any deposits. I had no claims or disputes open, there was no reason to limit the account and they basically lied about the reversal and the reason for it.

Just FYI: this thread is for UK issues. Procedures are a little different.

[mari]

Duh, I totally noticed that after I posted. Sorry about that.

[infinitelyannoyed]

I cannot seem to send money through this PP now. Keep getting a message saying you cannot send payment.

I tried to add bank account again and now have to verify through phonecall or credit card.

I purchased this account and don't have access to the card, so tried to add another entropay and tried again. Only this time only the phone call option came up.

Haven't done anything yet...

[NoneOther]

Originally Posted by blueuk

As they make the initial 1p deposit with code as a faster payment (the same way withdrawals are done)

And someone correct me if I am wrong.... But there is no way for them to "reverse or recall"

Now, theres nothing to stop them using the DD Agreement to take back the 1p.

Faster payments don't have that facility.

Faster Payments were introduced as a result of Government guidelines on banking operations and they still use the DD Mandate on your account to transfer/withdraw funds. It is only the processing time that has changed not the mechanics of how they are made.

So Faster Payments can be reversed.

[Ebayorbust]

Originally Posted by infinitelyannoyed

I cannot seem to send money through this PP now. Keep getting a message saying you cannot send payment.

I tried to add bank account again and now have to verify through phonecall or credit card.

I purchased this account and don't have access to the card, so tried to add another entropay and tried again. Only this time only the phone call option came up.

Haven't done anything yet...

So why haven't you added a working phone number to the account?

It would seem the logical thing to do if they do an automated phone confirmation when adding a bank account.

[rsot]

Answer: either being cheap or lazy not to have a working number