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Do NOT link Paypal to your bank

Discussion in 'Safety valve' started by Mr_Del, Jan 15, 2009.

  1. Mr_Del

    Mr_Del Regular member

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    This iis the worst thing you can do. If you do not have the funds your bank WILL be messed up royaly. They will refuse to work with you to avoid NSF. You bank will NSF like crazy. Cost me over $200 in NSF. Not to mention the double charges they refuse to admit. They also attempt a $1 withdraw per transaction causing more NSF. I have faught this over the phone and ofcourse they think they are correct. I even told them when I will have funds available. They dont care and will continue to make withdraw attempts every 3 days. Thus causing more NSF. The bank wont help. Other than closing the account there isnt much I can do now.

    So then this is my vent and a warning, do NOT link Paypal to your bank account. Now I cant pay my bills because of these jerks.

    -Del
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  3. rtm27

    rtm27 Regular member

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    I have had my bank account linked to paypal for over 5 years. I NEVER buy anything with paypal unless I have checked my account to make sure I have funds available and all bills are paid first. I have not had any trouble with paypal following those steps.
    Last edited: Jan 16, 2009
  4. 7thsinger

    7thsinger Regular member

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    Same here. I always make sure that funds are there (either in my paypal 'account' or my bank account) before a transaction.

    I'd advise you to do the same.

    I've been using PayPal for 5+ years as well. Never one problem.
  5. ddp

    ddp Moderator Staff Member

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    moved to correct forum as not an all other topics issue. no problem with paypal except for their charges.
  6. GrandpaBW

    GrandpaBW Active member

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    I have never had a problem, when I have used PayPal, and I too, have used it for over 5 years.

    But then again, I never tried to make a PayPal transaction, if I did not have the money to cover it.

    Mr_Del, it appears that you are in the wrong.
  7. Evastar

    Evastar Regular member

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    I have paypal linked to my credit card and have been using it for years no problem.
  8. Icanbe

    Icanbe Guest

    I've used paypal many times and have never had a problem.
  9. tommy6

    tommy6 Regular member

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    i use paypal linked to my bank a/c but have a credit card as a secondary payment card if not enough funds in bank. never had any problems with this.
  10. Mr_Del

    Mr_Del Regular member

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    Let me clarify the complaint here. Yes I made a purchase With not funds in the bank. Was an honest mistake. That is my own fault as was mentioned. Here is the complaint. They went to draw from my account and it caused an NSF and an email saying they will try again in three days. I called Paypal to let them know when I will have funds and to wait till then to draw again. They refused to do so. They claim they cant tell the system to do this. They hit my account with it many times now along with that $1 charge from the bank that causes 2 NSF for one transaction.

    Lets say you use the Paypal card for a $20 charge. They will draw the $20 and then $1 from the bank. Just check your statements and you will see it. So everytime they draw from your account it is always done in 2 different transactions. I have filed a complaint with the FTC on this issue. From what they said I may come out on top of this. That $1 charge to the bank is not in thier EULA. I was told it was not ethical. I will have to wait to see the outcome on it.

    So then the complaint is how they handle no funds available and refuse to work with the customer to avoid multiple NSF charges. To make things worse they are double billing me on the transaction. They got paid for one but yet still try to get it from my bank.

    Hope this clears it up a bit.

    -Del
    Last edited: Jan 17, 2009
  11. dailun

    dailun Regular member

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    Sorry, little if any sympathy here. You didn't understand how YOUR bank would handle the NSF.

    I have 2 Paypal accounts (1 personal, 1 business) that have been open for over 8 years.

    Most people make the ASSUMPTION that the bank will reject an NSF.

    Most banks nowadays will cover limited NSFs, as a way of making money from NSF AND Overdraft Fees, which are explained away as a "convenience to the customer so purchases will go through".

    This also ensures that paper checks will be honored (the penalty for bouncing a paper check can be criminal liability plus up to triple damages in some jurisdictions).

    Another thing to remember. Banks credit withdrawals before deposits. This can make you vulnerable to NSF even if you do/would have had sufficient money in your account at the end of bank processing.
    Last edited: Jan 19, 2009
  12. smokyrain

    smokyrain Active member

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    I have had my paypal account over 8 years now, but like someone above said I always had my credit card as a backup.
    I always know what I am spending but a backup just in case.

    But on the NSF thing, one time I didn't have all the funds in my bank for my Student loan, and same thing like you by the time I actually got the money in that account as the bank is not in the same town as me, they just kept trying and then I would have more NSF charges.

    I had no choice but to pay the charges twice and catch up the account.

    Hard lesson to not have enough funds in your account.

    But its not Paypals fault or your banks. The fault is "ones own"
    Last edited: Jan 20, 2009
  13. 7thsinger

    7thsinger Regular member

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    I think this has been the overall gist of what everyone has tried to say. Well put SmokyRain.

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