Paypal bank account reversal question?!

devious

Hello forum friends!

It's almost 2010! Yay!

Anyhow, today I received a notice that says exactly this:

---bof
"We were recently notified that a payment you received was reversed by the buyer’s bank. A bank reversal can be requested by the bank itself or the bank account holder.
We have placed a temporary hold on the funds until our inquiry is complete.

We are reviewing the bank reversal and will contact you again via email with information on what to do next. You may be asked to provide additional information about this transaction.

Sincerely,
PayPal"
---eof

My question is this, are sellers afforded any sort of protection when it comes to these types of issues? The buyer said he was very happy with the coin I sold. I have emailed him, but just in case, so long as I shipped to his verified shipping address and such and can offer delivery confirmation [it was a 60 dollar peace dollar rattler], I should be okay? Will Paypal cover it? They put sixty dollars of mine on hold. I knew I should had cashed out first thing today [grin]

Anyways, any 'seller protection' advice would be great...if anybody's been through this similar scenario!

Regards-

Aaron

VAMSKY

EBay and PayPal don't offer much in the way of seller protection. Their motto is "guilty until proven innocent". Keep all records of the transaction handy, especially delivery confirmation. Since the buyer left positive FB indicating the coin was delivered and they were satisfied you are probably just looking at an annoying wait. If you have proof of delivery you may see that $60 again. BTW ... PayPal never loses money on these. If they don't resolve this with the bank then despite all of your proof, you will lose the money. Good luck and Happy New Year!

notwilight

Vamsky,
I think you're mistaken. I've had two chargebacks this year. The first one for just under $200 paypal covered under seller protection and ate the $200.

The second one was for just under $10,000. Paypal found in my favor. Then the guy filed a credit card reversal. Paypal notified me that they are fighting with the credit card company but that they have already found in my favor and if they don't win with the card company that I will be covered under seller protection.

--Jerry

greghansen

My experience with Paypal on reversals has been uniformly negative. My most recent situation involved the sale of a $2,700 gold coin to an honest buyer. He was buying certified gold 'hand over fist' during one weekend when gold made a big run. He won my auction, paid immediately via Paypal and I shipped coin same day. Because of the unusual volume of bidding activity, EBAY, on its own, started cancelling all his bids...even those of auctions that had already ended. I got in touch with him in person, he confirmed he wanted the coin and to ignore EBAY's ramblings. I did. Then ONE MONTH later, Paypal...again without being requested to do so by either a bank or the customer...reversed the payment for the coin and sent it back to the buyer. When I called to complain...and asked them to 'reverse the reversal' since I had shipped the coin, confirmed that the buyer wanted it and he was happy with the coin...they said they couldn't do that and I would have to recover the $2,700 from the happy buyer myself. So...I did...and obtained a very solid hatred for Paypal during the process. They are useless jerks...and as soon as there is a remotely comparable service...they will have one less seller to be able to jack around.

Get mad all over again...every time I think about it. Thankfully, my buyer was a straight up honest person who had no problem re-sending the money to me. I could have easily been totally screwed out of both the coin and the $2,700 if it had been a less honest buyer.

puritan9

All someone has to say with Pay Pal is, "It was not as described." They can then change it for something broken or whatever. Pay Pal will not stand by the seller. This is why I never sell internationally. At least in the United States, you can go after the person criminally and you have a chance. You don't have a chance with Pay Pal.

notwilight

<< <i>All someone has to say with Pay Pal is, "It was not as described." They can then change it for something broken or whatever. Pay Pal will not stand by the seller. This is why I never sell internationally. At least in the United States, you can go after the person criminally and you have a chance. You don't have a chance with Pay Pal. >>



Based on my recent experience this is an old wives tale. Do you have actual personal recent experience or are you basing your opinion on what you've heard? --Jerry

boucharda

I am still waiting on a "Bank reversal" from 12/13...Coin paid for..shipped the next day....reversed before the coin arrived....coin arrived 3 days after shipping

I got excellent feedback from the buyer who is clueless about what is going on.

PayPal said it would be covered under Seller Protection if it was delivered

Still waiting.....

Russ

I've never lost a bank reversal or chargeback case. As long as you followed the seller protection policy, you'll be fine.

Russ, NCNE

puritan9

Yes, I sold to Russia and it happened to me. Pay Pal sided with the buyer. The protection policy did not help me although it was in place since I am a power seller.