what could paypal do?

coolstuff8642 · Oct 19, 2009

Just a small doubt...

If someone files a dispute with paypal, and i've withdrawn all the funds...

so what does paypal do?

will they deduct from my credit card or bank account .... do they have the rights to do so?

your thoughts please

Rudyzplace · Oct 19, 2009

1. They can try to charge your credit card but you can always decline the charge using your credit company.

2. They can press charges, it's a long routine but they handle loads of these simultaneously

TermsB · Oct 19, 2009

They'll send a debt collector after you as well, and that will show up on your credit reports.

theleadsource · Oct 19, 2009

They can charge your CC and/or take the cash out of your account.

coolstuff8642 · Oct 19, 2009

really do they have the rights to do so to charge my account ? so what if i accept them using one account(unverified) and transfer them to another account (verified) and withdraw them?

We must think around 360 degrees when it comes to Internet

Rudyzplace · Oct 19, 2009

coolstuff8642 said:
so what if i accept them using one account(unverified) and transfer them to another account (verified) and withdraw them?

how are you going to make them send you money to an unverified account?

coolstuff8642 · Oct 19, 2009

why not an unverified account can accept money , but it just has a limit....right?

Rudyzplace · Oct 19, 2009

you're right -

However, there are limitations:

- you can receive only a maximum of $10,000 per transaction
- when you withdraw the money to your bank account, you can only withdraw $500 per month

You can lift the withdrawal restrictions and the max amt per transaction by becoming verified. But with an unverified account, you can receive money to your Paypal account

theleadsource · Oct 19, 2009

coolstuff8642 said:
really do they have the rights to do so to charge my account ?

They did it to me to the tune of $4800.00. I contested it with my credit card company so there was no issue in the end but I sure lost a couple of hours off of my life when I saw a $4800.00 charge on my card.

Can you cancel the card with your bank and get a new one? That would stop the charge from happening.

ecommerce · Oct 19, 2009

to be safe I have a paypal account set up which is not mine but of course is verified and I use this to send the money to another account where I withdraw from (in my actual name). They could trace me if they wanted to put the resources into it but it buys me time and gives me another layer of security. Cancel any card you use to verify your paypal account or use a pre paid one to set the account up, stopping the direct debit with your bank after setup makes sure they cant take money out that way.

Generally, and I have smashed my way though a fair few paypal accounts in my time, you never hear anything from them but you do lose your account

leprakhauns · Oct 19, 2009

When CD went down Troy took the money with him and took back the $400 he paid me so I had -400 in my account since I already withdrew the money. You need to pay the money back.

Rudyzplace · Oct 20, 2009

ecommerce said:
Cancel any card you use to verify your paypal account or use a pre paid one to set the account up, stopping the direct debit with your bank after setup makes sure they cant take money out that way.

I can purchase an anonymous debit card but is there a way to verify it by pay pal?

I mean the 4 digit code which you should see on your bill - will not appear, since there is no bill for there cards.

theleadsource · Oct 20, 2009

Rudyzplace said:
I can purchase an anonymous debit card but is there a way to verify it by pay pal?

I mean the 4 digit code which you should see on your bill - will not appear, since there is no bill for there cards.

What country are you in?

ecommerce · Oct 20, 2009

Rudyzplace said:
I can purchase an anonymous debit card but is there a way to verify it by pay pal?

I mean the 4 digit code which you should see on your bill - will not appear, since there is no bill for there cards.

They do a small deposit to your account and a small charge to the credit card if my memory serves me. You can view the statement for prepay cards in an olline statement for every account I have ever setup. Let me know if you want some examples but I think that it might depend which country you are in?

coolstuff8642 · Oct 20, 2009

to solve this problem there are some guys who provide service for paypal verification, even in bhw i think...

also without knowing all these things im accepting payments directly to my main account ...

anyways i must make some changes immediately......guys.....and do everyone....

Rudyzplace said:
I can purchase an anonymous debit card but is there a way to verify it by pay pal?

I mean the 4 digit code which you should see on your bill - will not appear, since there is no bill for there cards.

safrank99 · Oct 20, 2009

Paypal has billed me in the past and tried to go via my bank. There are sticklers for their money and it is their money if you do something illegal. My answer is to stay straight with them at all times.

Rudyzplace · Oct 20, 2009

there is a tread going on about a merchant account. I would look into it and consider it a replacement for PayPal.

mbceo · Oct 20, 2009

coolstuff8642 said:
Just a small doubt...

If someone files a dispute with paypal, and i've withdrawn all the funds...

so what does paypal do?

will they deduct from my credit card or bank account .... do they have the rights to do so?

your thoughts please

Why do people come here for their questions like this? OK, I get it. You are too frickin lazy to do the research yourself. Go see the actual website and find out.

From their website:

You agree to allow PayPal to recover any amounts due to PayPal by debiting your Balance. If there are insufficient funds in your Balance to cover your liability, you agree to reimburse PayPal through other means. If a sender of a payment files a Chargeback, the credit card issuer, not PayPal, will determine who wins the Chargeback.

dichotom · Oct 20, 2009

I knew a guy who did this with paypal.

That guy died.

bobbys · Oct 20, 2009

You can close the account and withdraw the money, cancel any credit cards associated with it (or call the c/c company and ask for a new card with a new number), and even close your bank account.

Paypal may still put you into collections though to try to get back the money, especially if its a considerable amount. They put a friend of mine into collections for over $2000 because he got a chargeback 4 months after he withdrew money from his account. He had a lawyer send a letter to paypal telling them to drop the collections and they actually did. You'd be suprised at how many companies back off when they realize the person they're trying to screw has a lawyer and can fight back.

what could paypal do?

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