Can PayPal take money out of my bank account?

[AronothSales]

This has not happened but in-case it does I just want to know. Can PayPal take money out of my bank account? I have my bank account linked to where I can x-fer money in and out to PayPal (with 3-4 day wait time)

And if I have the money sending to my bank account can PayPal reverse the sending? I'm thinking of asking buyers to trust me and wait to change email till I have the money in my bank account so if they scam me hopefully PayPal can't take it back.

 

[sinbad190]

E-mail ownership really isn't as important as people think it is. If he has the name of the owner, the account name and the secret answer, he can change the e-mail himself by calling Blizzard.

In response to your first question, Paypal can come at you like crazy debt-collectors if you have a negative balance in your account. It makes very little difference if you have the cash in hand or not, because if the buyer files a chargeback Paypal will do everything they can to strip that amount of money from you.

In response to your second question, Paypal can only reverse the money transfer process if they haven't sent it to your bank yet. Your bank will not just hand over the cash after it's already been deposited into your account.

 

[angelg7]

They can, but they usually don't depending on the amount, I believe if it's over $300-500 they won't. They sell your debt to a third party debt collection agency, they can also lower your credit rating if they have your SSN.

 

[Kevs]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: angelg7</div><div class="ubbcode-body">they can also lower your credit rating if they have your SSN. </div></div>

Under what circumstances would paypal have your SSN?

 

[angelg7]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Kevs</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: angelg7</div><div class="ubbcode-body">they can also lower your credit rating if they have your SSN. </div></div>

Under what circumstances would paypal have your SSN? </div></div>

I'm using a Canadian PP, but people say to get verified and have the $500 limit removed, you need to provide an SSN.

Also if your account gets limited.

 

[Cakez]

Yes, Paypal can in fact take money out of your bank account. When you accepted their terms, you gave them rights to take money or close your bank account.

 

[angelg7]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Cakez</div><div class="ubbcode-body">you gave them rights to take money or close your bank account.</div></div>

LoL O rly?

 

[sinbad190]

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">you gave them rights to take money or close your bank account.</div></div>

Negative. No one can close your bank account except the government, you, or the bank.

 

[GameSupply]

Do you need some work to do Angelz? I have some various odd jobs you could do to occupy your time so you're not stuck on here posting all the time. And Im not just [censored] with ya, ( a little bit maybe) but i do have some stuff you could do

 

[angelg7]

I don't need to do anything.

I'm hardly on these boards, and whenever I am I just post 1-3 posts and get off (5mins max).

I think you should do them yourself instead of browsing MD.