paypal negitve balance

[dark1463]

my paypal is negative around 900$ do to my own doing of instant transfers should i be worried?

 

[shezboy]

It means you owe PayPal $900. If you've the $900 to pay them then don't worry.

Do you know if they are able to take the money direct from your bank account to recover the money?

Shez

 

[dark1463]

no as it started with my paypal account getting hacked and i kinda ran with it and ordered some stuff then closed my bank account

 

[shezboy]

You'll prob just get a few letters from a debt collection company acting on behalf of PayPal. I don't know how aggressive they'll be in their persistence to recover the money.

Shez

 

[SharkServers]

In the UK, as long as you have a bank account linked to your PayPal, they will attempt to automatically transfer money from your bank account to cover the negative balance. This only works if you have a direct debit set up - they can't automatically take money from a savings account, as it does not have direct debit facility. They will only attempt to collect the full amount, so if you owe $900, they will try to transfer $900 in one go. If you have $899 in your bank account, the transfer would fail and the money would remain where it was.

Just pay off the debt in installments - no need to do it all at once. Although, they can report this to credit reference agencies, if this is your real account.

 

[dark1463]

what about in the us?

 

[HostKnight]

what about in the us?

Will you be getting $900 in sales over the next few weeks? If so don't worry.

If not then they will attempt to take the funds from your bank account.

I'm sure they will contact you if there are any problems

 

[jcardo98]

wow how did you get -900 on the account ? :O

 

[lover]

They may reverse some of your "money sent" transactions to recover the balance.