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Can PayPal take money out of your bank account ?

Discussion in 'Legal Issues' started by Digis, Feb 7, 2010.

  1. #1
    Please only answer if it's happened to you or you've witnessed it first-hand.

    I want to know if paypal can take money out of your bank account without your permission.
    Thanks
     
    Digis, Feb 7, 2010 IP
  2. DubDubDubDot

    DubDubDubDot Peon

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    #2
    The way you are asking the question, no, they may not.

    However they are able to reverse withdrawal transactions if this is what you are asking about. Any payment processor or financial institution can do this.
     
    DubDubDubDot, Feb 7, 2010 IP
  3. DoDo Me

    DoDo Me Peon

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    #3
    YES, THEY ARE!

    One of my friend has experience this, he withdraw all money to his bank account, but later paypal said some chargeback on credit card happened and blah blah then get money from his bank account WITHOUT his permission.
     
    DoDo Me, Feb 12, 2010 IP
  4. FOREXSIGNAL

    FOREXSIGNAL Active Member

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    #4
    No paypal couldnot take cash from bankaccount without permission.
     
    FOREXSIGNAL, Feb 12, 2010 IP
  5. tobycoke

    tobycoke Peon

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    #5
    PayPal didn't collect on the chargeback "without permission." It sucks but the permission is in the TOS that he agreed to when he signed up.
     
    tobycoke, Feb 12, 2010 IP
  6. RectangleMan

    RectangleMan Well-Known Member

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    #6
    When you give them your bank info you give them permission.

    Read the TOS.
     
    RectangleMan, Feb 12, 2010 IP
  7. samvincent08

    samvincent08 Guest

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    #7
    NO. Paypal cannot withdraw money out of your bank account. Reversing transaction occurs only in those case where the amount has not reached the point of getting credited or available in your account; But payment processors have certain control over the amount and can issue instructions to your bank, since as per the bank "Paypal" is the money depositing agent.

    But as a customer of your bank, you have the upper hand and you can always de-authorize any such reverse transaction if it ever occurred.

    In the event of paypal taking out your money from your bank (Most unlikely), and you de-authorize the transaction, then PAYPAL HAVE TO PAY YOU all the amount it has taken.
     
    samvincent08, Feb 14, 2010 IP
  8. fathom

    fathom Active Member

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    #8
    That's the correct OVERVIEW answer!

    It depends on alot of different aspects your verified level, account type, the nature of the recovery, and the amount of loses Paypal receives for not acting...

    But a simple non-TOS explanation could be in the case of you authorizing say a "check card" to be your credit card... and say authoring a reoccurring subscription fee... you authorized the subscription at the time you did the initial transaction and you must cancel that separately - if you don't... you've provided permission (and merely forgot you did) and your credit card (aka check card) is your preferred payment method which is an "authorized withdrawal" from your bank account.

    So "it depends on the details of your specific situation".
     
    fathom, Feb 14, 2010 IP
  9. carfanatic01

    carfanatic01 Peon

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    #9
    I just verified my account in pay pal yesterday and I am so thankful for this forum. That is one of the reason I am afraid also but I trust pay pal. I don't think so they will act like that. I hope they will not :(
     
    carfanatic01, Feb 15, 2010 IP
  10. Stingerftw

    Stingerftw Well-Known Member

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    #10
    If they do simple tell your bank you didn't authorize the transaction and they'll get your funds back.
     
    Stingerftw, Feb 15, 2010 IP
  11. fancymouj

    fancymouj Peon

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    #11
    But particular bank allowed to do that ?:rolleyes:
     
    fancymouj, Feb 20, 2010 IP
  12. intrus

    intrus Peon

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    #12
    when you open a paypal account most of the banks will not allow you that.
    to open it you have to make a complain to the bank to offer you the chance to work with paypal where you sign to agree that all the issues will be YOUR RESPONSABILITY (that is what I have signed 2 days ago)

    So if paypal ever take something from your bank account you cannot do nothing in that case.

    But PayPal it`s a safe way so you don`t have to be afraid.If you`ll ever find out that Paypal toke some money from your account scan the bank statement and send it to them.They will answer you.
     
    intrus, Feb 24, 2010 IP
  13. EthanAdams

    EthanAdams Peon

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    #13
    YES! Few publishers of mine from China and India, paypal reverse they money back to us. But when we check our account no refund/reverse payment received. We are chased by those publishers.. so we contact Paypal CS regarding this is issue, glad that they response and gave the money back. ;)
     
    EthanAdams, Feb 25, 2010 IP
  14. TecSupport

    TecSupport Peon

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    #14
    Paypal can only take money from your bank if you owe ebay fees and set it up with ebay that you allow payments to be paid via paypal as your monthly selling fees, now lets say you owe paypal for claims and then you get hit with a ebay monthly invoice, then paypal will withdraw ebay fees plus what your account is in the red for, hope this helps
     
    TecSupport, Feb 25, 2010 IP
  15. bob50963

    bob50963 Peon

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    #15
    If you go under paypal will take from your bank. It has happen to me. I guess from adding your bank you agree to all there terms. This happen about 2 years ago.
     
    bob50963, Feb 25, 2010 IP
  16. ronnyeo

    ronnyeo Active Member

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    #16
    From what I understood, they can only take money out of your bank account IF you have your ebay account set up so that paypal automatically takes out the fees every month. Its best if you manually authorize your ebay fees each month rather than giving Paypal permission to ever access your bank account on their own.
     
    ronnyeo, Feb 25, 2010 IP
  17. xanth

    xanth Member

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    #17
    If it's in the terms of use yuo agreed to, they they can do it.
     
    xanth, Feb 26, 2010 IP
  18. omarabid

    omarabid Active Member

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    #18
    they'll do it if they need to.
    for example recurring payments, charge backs...
     
    omarabid, Feb 26, 2010 IP
  19. extraspecial

    extraspecial Member

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    #19
    Only From your credit card that you have added to your account and only if you have a subscription to pay :)
     
    extraspecial, Mar 7, 2010 IP
  20. hmobley

    hmobley Peon

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    #20
    Question on this one! had a buyer buy something, he never would pick it up, now has filed a dispute wanting money back, I say no, I have already deleted bank account and cc prior to this happening, Is paypal able to reverse this on me. trying to take money out of my account, the account I have deleted from paypal account. My account is showing a negative right now.
     
    hmobley, Mar 14, 2010 IP