Paypal accepted an instant transfer on a closed account?
I made a commercial service payment but wasn't thinking and forgot I already closed my bank account on file. The credit card was just my debit card from that account, so Paypal has nowhere to get the funds from. Nevertheless, Paypal accepted the payment and it shows up as completed. What's the most likely outcome of this situation?
Other - Business & Finance - 2 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
You PayPal account will show a 'negative' balance ... they won't tolerate this for long .. in fact, when they try to take money from your closed account they may well 'reverse' the payment you made .. PayPal suffers from a LOT of fraud .. they have a 'hair trigger' when it comes to protecting themselves against fraud and sticking their 'customers' with the loss .. they don't care who pays, so long as it's not them ! There are stories of people having PayPal transfers 'reversed' YEARS after the event ... If you want to avoid PayPal 'freezing' your account for 6 months, pay off the balance as soon as possible ..
Answer 2 :
I had a similar experience happen to me with Pay Pall. Pay Pall is bad news.
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