Paypal Help

So i recently sold an item and started transferring it into my bank account, apparently paypal limited my account or the buyer charged back, but the money was already in the process of going to my bank account, what will happen?

 

Your paypal can be in the middle of a dispute by the buyer which would restrict you from sending out any money from your paypal. I'm assuming your paypal is verified via your bank account. In order to get that money to your bank account you will have to wait till the dispute it settled or your paypal is verified.

Also remember you do need to be 18 in order for your account to be verified.

 

But i sent the money to my bank account 10 hours prior to the chargeback/hold now my paypal is in -$700 not $0

 

The money will most likely have gone to your bank account however because your actual bank is linked to your paypal, you will still have to solve that $700 deficit. If the money never did transfer, your balance would have just gone back to $0.

I suggest you call PayPal up and see what the issue is because you will have to deal with the deficit later as they know your information.

 

So what you're saying is that I will be able to withdraw that $700 out of the bank? as it takes 3-5 business days for the money to arrive in my account.

 

The money was taken out of the PayPal account that is for certain, reasons being as stated above. Even if you can withdraw the money from the bank, you will still have to pay the negative credit as they know your bank information. Leave it long enough and PayPal gets their tax collecting agency to track you down... it won't be pretty once it gets to that point.

Alternatively, try posting here for better advice.

 

In my experience, the transaction is held and the money will be given to the person who disputed if they win the dispute.

 

As said, you will receive the money, as you are in negative balance, but as they've got your details and bank information, they will get you to get that $700 you owe them...

If the other guy wins the dispute, you will have to pay either ways.

 

Irrelevant either way. If the transfer is still listed as completed, it will go to your bank account. But, according to Paypal terms of service, they have the right to go into your bank account and claim back the money.

If you try and withdraw it from your account, they'll charge you overdraft fees when the Paypal charge comes. They'll also send your name to collections.