Paypal and your checking account...

Socalguy1967

This has never happened to me but someone on the board made a recent post and it got me thinking..... Say I sell something on Ebay for $200, the person pays via paypal, I transfer the $ from my Paypal account to my paypal linked checking account, then the person files some kind of claim.....

Can Paypal go to my linked checking account or linked credit card and withdraw/hold money without my permission.

This could wreak havoc if you had outstanding checks and they hold your money without your knowledge/permission.

storm888

"Can Paypal go to my linked checking account or linked credit card and withdraw/hold money without my permission. "

///////////////////////////////////////////////////////////

PP claims they have now discontinued that practice.

But, they can reverse an uncleared transfer from your PP
account to your checking account. It usually takes from
three to seven days for your bank to remove the PP
transfer from "pending" in your online summary. If a
PP transfer into your checking account is "pending," it
can be reversed back to PP.

goose3

I don't take that chance.

I have a completely separate account solely for paypal.

WHen I get a payment/payments, I transfer to that checking. As soon as they get there I sweep them into another checking that is in no way connected to paypal.

Yankeeefan

If you think a buyer may scam you out of your card and tie up the funds in your acct, get a Paypal debit card and start withdrawing the $$ the day it becomes available in your Paypal acct.

colebear

Paypal hold all funds that come into that acct up to the amount in question. This just happened to me, sold a card for $750, swept the money into my checking, he filed a claim, now I have a balance owed of $750. So the next $750 I sell gets tied up. They can not go into your checking acct. though.