Forum

Limited PP - close Bank a/c or not?
 

Should I close the bank account I have associated with my limited PP account, I have cancelled the PP Direct Debit with my bank, surely that is enough?

Not enough info for us to answer the question. What is the concern?

I thought if you cancelled a direct debit with an institution, that's it, they can't take money from you.

I'm severely in the red with Paypal at the moment, and have no ideas of paying them in the near future, if at all.

Just want to make sure, as I don't want to close the bank account

Did you get in writing from your bank that Paypal direct debits will not be honored? Is your bank debit card on file with Paypal?

There's two possible ways Paypal can try to get your bank funds, depending on what you put on Paypal. They can do an ACH type debit directly to the account number (whether you have a debit card or not) or they can place a charge against your debit card (visa or mastercard debit).

I'm not about to encourage you to dodge paying monies you owe, but if you wish to protect yourself from additional overdraft charges against your bank account, I suggest you be safe and just close the account. Even if you do that, your bank may honor outstanding or pending charges for 30 days or even longer. Additionally, Paypal could simply reverse any transfers from PP to your bank that happened in the past 180 days. Denying debit transactions will not prevent funds reversals of prior existing transfers.

The credit/debit card I have on file is a Paypal Topupcard :), sad to lose the card, loved getting my funds in 24 hours :).

I didn't get anything in writing regarding the DD.

When Paypal limited my account, they reversed the transfers that I had in place at the time. Since then I have been receiving these emails due to numerous customer refunds:

We issued a full refund of £xx.xx to xxxxx for this case (xxxxxxxxx). When we refund a buyer for a case, we'll charge your preferred payment method. However, there was a problem charging the reimbursement payment method you have on file.

Because the buyer has already been refunded by eBay, you don't need to issue a refund to the buyer, but you do need to update your reimbursement payment method or add a new one by contacting us. Your preferred payment method will be used for current and all future cases.

The reason I don't want to close the account is because I have travel insurance with the account, and I am based overseas. But if it come to it, I will cancel.

Tell you institution that you've misplaced your checkbook while out shopping this past weekend. Ask if they will close your current account and re-open a new account for you - because you like doing business and wish to maintain a financial relationship.

I recently opened a new account with them for stealth purposes. I will try that, I hope they wont credit check me again, I suppose there is no need for them to do all that again.

Report your credit card and check book lost. Have them close your bank account. Paypal/Ebay will find anyway they can to try to steal your money.

what I did was not put money or receive money in my bank account which is connected to that limited paypal account and I also cancelled my Direct Debit...

they sent me an e-mail saying:

"we have transferred the balance etc etc..."

that got me scared as I owe them £600, so I checked my bank which is with them... they were lying...

I have no intention on paying that either... there own faults

Why would you leave the account open for them to even try. Transfers take a few days so they could have started it but it has not posted. Call or go to your bank and close the account now.

Ahaa I see.

Well I think I can close the account, as I didn't extend my travel insurance in time anyway. Direct Debits really seem to be a grey area, you'd think if you cancel the DD then that's it, but maybe not. I wish they were never invented, caused me loads of strife