I sold some LolliDoo seconds on EBay last week. I patiently waited for the money to clear so that I could transfer it into my business account.
I looked at my account balance today and it was over $700. I quickly transferred $650 into my business PayPal account to pay for the shipping of the diapers we sold.
Fast forward to this afternoon. I looked at my regular bank balance and it was over $200 in the hole. Why? Because PayPal took out $707.86 from my personal bank account.
So I called PayPal and asked them:
Why was I charged $57.86 in bank fees?
Why did you take the money from my personal bank and not my PayPal account as indicated?
Please reverse it.
I got a whole lot of smoke blown up my rear and NO answers. I was nice, I begged, I cried and finally I screamed but they refused to reverse the transfer.
UGH! I am NEVER using PayPal again. I urge you to do the same. I was looking online for solutions and I came across this site:
http://www.aboutpaypal.org/ and this one http://www.paypalwarning.com/ and this one http://www.info-hog.com/paypal_ebay_sucks.php
Apparently I'm not the only one who's been screwed by PayPal.
They did offer me the solution of transferring the funds back from my business account into my personal PayPal account with the caveat that I pay the fees and wait 5 days for the money to clear.
I just logged on and it says:
Welcome, Alison ManesLast log in February 1, 2010 3:38 PM PST
PayPal balance: $436.05 USD
However, they won't let me touch that money because even though it says I have money - according to my friendly PayPal rep - that means I WILL have money at some point.
My solution was to call my bank and appraise them of the situation. I still have to wait for the transaction to clear but once it does - I am reporting it as fraud.
Sorry about the rant folks but people need to be aware of this.