Post by dutchjazz on Feb 11, 2015 3:49:11 GMT
Some of you may be aware of Paypal's policy on issuing refunds should there not be enough in the Paypal balance, but I was not. I thought it would be handled just like if you were buying something and didn't have enough in your balance, I have them put the difference needed on my credit card.
Here's what happened - might explain it better.
I have a bank account which is strictly for paypal funds. I always keep $100 in this account.
First of every month, I transfer my Paypal funds to this account and then I transfer the money in that account (less $100) to my regular checking account.
Beginning of February (after transferring all money out of Paypal), I had someone buy a JCrew peacoat for $150. The day they got it, they returned for fit. No problems with customer or the way the return was handled. I received two days later and refunded. Because it was the beginning of the month, I didn't have enough money in my Paypal balance to cover the refund. No problem, I thought. They'll just take the balance of my Paypal account and the difference from the bank account or put on my credit card. The difference would've been less than the $100 that I keep in that bank account. So no problem.
Nooooooo!! If you don't have enough in your Paypal balance for a refund, they automatically take the WHOLE amount out of your bank account.
That caused me to have an overdraft, so the bank charged me $36.
I called Paypal and "Bernard" was great. He sent me a letter addressed to my bank explaining what happened so hopefully, I can take it there and they will credit me the overdraft fee. Which I'm pretty sure they will. I hope.
Anyways, I thought if I didn't know this, maybe someone else might not know it. And it could save them from making the same mistake I made.
Hope it's not too confusing.
Here's what happened - might explain it better.
I have a bank account which is strictly for paypal funds. I always keep $100 in this account.
First of every month, I transfer my Paypal funds to this account and then I transfer the money in that account (less $100) to my regular checking account.
Beginning of February (after transferring all money out of Paypal), I had someone buy a JCrew peacoat for $150. The day they got it, they returned for fit. No problems with customer or the way the return was handled. I received two days later and refunded. Because it was the beginning of the month, I didn't have enough money in my Paypal balance to cover the refund. No problem, I thought. They'll just take the balance of my Paypal account and the difference from the bank account or put on my credit card. The difference would've been less than the $100 that I keep in that bank account. So no problem.
Nooooooo!! If you don't have enough in your Paypal balance for a refund, they automatically take the WHOLE amount out of your bank account.
That caused me to have an overdraft, so the bank charged me $36.
I called Paypal and "Bernard" was great. He sent me a letter addressed to my bank explaining what happened so hopefully, I can take it there and they will credit me the overdraft fee. Which I'm pretty sure they will. I hope.
Anyways, I thought if I didn't know this, maybe someone else might not know it. And it could save them from making the same mistake I made.
Hope it's not too confusing.
