Anyone Familiar With Paypal

Honest Tom

Honest Tom

At the Start
Joined
May 2, 2003
Messages
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When someone sends you a payment and you accept it, is there any way they can then renege on the payment?
 
I don't think so Tom - they only way I can think of would be if it was coming off a card and the bank declined the transaction (thus it wouldn't go through)
 
Thanks IS. I just looked up their web site help and it looks as though once accepted there's no going back.
 
Familiar with them? I used to work for them...

There's two main things they can do.

First is they open a dispute with PayPal, claiming that for some reason they shouldn't have to pay (e.g. they didn't receive the goods/services they paid for). PayPal put the money on hold so that you can't withdraw it until such time that the dispute is resolved.

Secondly, if they've paid by Credit Card, they can go over PayPal's head and initiate a chargeback with their CC company. When this happens, PayPal again put a hold on the money. You're then supposed to work with them to dispute the chargeback with the CC company. If successful, you keep your money. If not, you're screwed...
 
Even after you've withdrawn it into your bank account, whoever sent it can still do a chargeback (could be up to 6 months later). If your PayPal account balance isn't enough to cover it, it'll go into negative balance. The same chargeback dispute process goes into place but if you're not successful PayPal will look for the money back off you.
 
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