Paypal negative balance! Can paypal withdraw from bank account? Please help?

Discussion in 'PayPal' started by kamal12, Nov 26, 2012.

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  1. #1
    Paypal negative balance! Can paypal withdraw from bank account? Please help?

    Hi friends! I have a dispute over paypal and lost it and now my balance has come to about negative of $1500! I have my bank account attached to the Paypal Account. I am from India. And my bank account doesn't have any balance. I don't have credit card attached, nor I own any credit card. So my question is can paypal make my bank account negative and receive their money? I mean can they withdraw money from my account even if there are not sufficient funds there? Please reply me if you've got any experiences. I stress that I am from INDIA, so please reply with keeping this in mind as to what will they do? Do they have the authority over the Indian bank accounts? Or shall I close the bank account?
    Thanks in advance! :)

    Also mention if that has ever happened to you or any of your friends or relatives. Thanks
     
    kamal12, Nov 26, 2012 IP
  2. Zoti Media Group

    Zoti Media Group Notable Member

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    #2
    Noone can take money from your account. If thay do you can get tham back within 7 days.
     
    Zoti Media Group, Nov 26, 2012 IP
  3. nihangshah

    nihangshah Prominent Member

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    #3
    Since you're from India, there's no need worry, since RBI hasn't formulated any rules to recover money from Online Payment Processors.
     
    nihangshah, Nov 26, 2012 IP
  4. davetrebas

    davetrebas Active Member

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    #4
    Bought some stuff on eBay and paid with PayPal. Normally change the payment method to a credit card since I only keep a $100 in the PayPal linked bank account. PayPal always goes for the bank account with no way to set a default. I didn't have enough in that bank account so the bank hit me for 3 overdraft charges at $39 each with PayPal not paid.

    Since my bank was a small local bank and I was in good standing, I talked the manager into backing out most of the charges by explaining how PayPal works and showing her a printout of their webpage.

    Moved money from another account and PayPal got their money.

    Lesson learned, be very very careful on the PayPal page to click on the change method to set the payment to be a credit card. They make it very small on their web page so it's easy to overlook.

    Some lessons cost more than others...

    I have no idea how PayPal works outside the USA in India. You might want to have a discussion with your bank manager about your situation

    Please post your resolution.
     
    davetrebas, Nov 26, 2012 IP
  5. purplesoft

    purplesoft Member

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    As per the law of the any country noone can touch your bank account or take account without your persmission yes , govt officials can seal your accoutn in case of the raid but they cannot take money from your account without your permsision so PAYPAL have no right to take money from your account
     
    purplesoft, Nov 27, 2012 IP