question bout paypal

L

lucky

Guest
i know this isn't a really appropriate place to post this but i really cant find any other place to ask this question

if someone pays me using a stolen credit card
can the owner of the credit card retract the payment??
by charging back paypal or the credit card i use in paypal

thanx
 
Don't know specifically about that, but look here: http://www.paypalsucks.com/ (obviously a bit biased)


Here's a thread in their forum about this: http://www.paypalsucks.com/forums/showthread.php?fid=5&tid=524&old_block=0 (probably more threads of a similar nature)

this isn't necessarily Paypal's doing-- the same thing happens with stores when a customer disputes charges (credit card companies have policies governing this...)

It's basically the credit card company saying "we aren't honoring that transaction" so Paypal is passing it back to you because it really isn't THEIR fault

they have some kind of seller protection program though for this....
 
man.... seems real bad
what if i unregister from it right now and witdraw the money
can they still do the chargeback?

thanx
 
by paypal:
including but not limited to: intangibles, services, quasi-cash and all non-tangible, non-physical goods

does that include virtual items?
but how do i get proof that i already delivered it

thanx
 
I believe you are in Singapore so the protection program doesn't apply to you anyway =/

what do you mean by virtual items? like Diablo2 accounts or items? ...yes that is a non-physical item

I suggest you contact Paypal with specific questions like this... but the fact is, a credit card charge can be disputed and if it happens, Paypal may demand the money back from you, since its between you and the seller
 
what's the time limit for a chargeback
can they still do a chargeback when the credit card bill comes?
sorry but paypal doesn;t seem to be giving the answers i want
the mail just beats around the bush... if they cant do a chargeback after the credit card bill is paid then maybe i'll consider holding back the items and hand it to them only after i really get the payment safe and sound
 
according to their policy, they can take the money back after you get it, so you could end up owing Paypal money if you get a negative balance

the limit for a credit card chargeback depends on the person's credit card company

try that forum I linked to for questions, if paypal won't answer you clearly
 
Heya Lucky

The issue isn't so much with PayPal as it is with the Credit Card companies.

A typical Business account to accept credit cards will cost you between 3 and 4% per transaction. In this sense, Paypal really isn't that bad of a deal.

However, Paypal does chargeback in accordance to the contract they have with the credit card companies. And, the credit card companies are the ones that actually order the charge back.

Paypal is really just a middleman. When you start out as a business, you get to know the middleman really well, heh. Paypal handles a lot of administrative work for a relatively small fee. But they do so with very little in the way of support for the customer.

Credit card companies can order a chargeback at any time that the actual card holder reports their card stolen. If you believe that someone has simply reported the card stolen to get something for nothing, you will need to be able to prove that you verified the owner of the card. Since this is next to impossible to do unless you have information like a verified shipping address, you're pretty much on your own.

Keep in mind.... you are only legally bound to offer a 30 day money back guarantee on items purchased via the phone, mail, or internet.

So, where does this leave you? Easy... if you have an address, look it up vs. the owner of the card.
 
ok... lets just assume that the credit card isn't a stolen one
cos i spoke to that guy and he doesn't even know what's "extracting a file to a folder"and the person deosn;t want to report his credit card lost just to get something free...
this is what he entered for in the payment

auction goods
but he did not specify his address

do i have to give proof that i shipped or deliver the item or will paypal freeze my account or something if i dun have evidence that i delivered the item

and if i just simply cancel my paypal membership
will they still have access to making a chargeback?
sorry for the trouble but i've sold $300 worth of items
before i noticed this :eek: (how stupid of me)
i really need the money therefore
i really cant afford to let them make chargeback at me

and one last question... after reading all the "horror"stories from above i've decided to cancel my paypal account... i'd like to withdraw the money
but im wondering if i can use a joint bank account
under me and my dad's name
paypal is under my dad's name
is it possible for me to transfer the money to this account
pls answer me if any of you had any experience with this

i already posted on the webbie u gave me but i didn't get any replies till now its been almost a day

thanx a million
 
paypal works on the basis of credit. They are the middleman between the credit card company, the buyer, and the seller.

If I buy something with my credit card online, I am legally entitled to 30 days to decide if I want to keep the item I pruchased.

If someone else uses my credit card to buy something, and I spot it on my monthly invoice, I can take as long as I want to report the error.

If I am selling something to another person, they have the same rights as I do as a buyer.

In order for the credit card company to make the transaction, they must know something about each person. Paypal is a simple way for the credit card company to know who to credit, and who to debit.

The information you submit to Paypal includes your banking/credit details. If, for some reason, you decide not to pay Paypal, you are basically saying that you won't pay a debt you owe.

Unpaid debts= collection agents and garnishing of wages.

If still unpaid, the debt will give you a bad credit rating.

When you signed up for a Paypal account, you gave them access to your account (credit/chequing/savings, whatever). You also agreed to be held responsible for any credits and debits made through their service. All services are like this.

My suggestion for future transactions is that you find a way to verify who the purchaser is. The easiest way to do this is by collecting their address, and then verifying that the card owner resides there.If the card owner doesn't reside there, contact them for their correct address. As the seller, you assume the liability for the sale.

Re: banking information, and setting up your own account. Sure, if you want to set up a business account with the bank, you can. But, then you need a licence for business, and insurance against fraud. Then, you'll need to set up your own accounts with the various credit card companies (as stated, they charge between 2 and 4% per transaction, plus an annual fee for the credit card machine). And, you'll need to process all the transactions yourself. You're still liable for any chargebacks, etc etc. If you plan on doing this online, you'll need to buy software to handle it.

As someone who has been in management,the accounting side
can get really really tedious.
 
can i withdraw the money to a joint account
name on paypal + another person's name

thanx
 
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