jmarin.72 Posted September 21, 2010 Report Share Posted September 21, 2010 Ok guys, this does not look to good but i keep my fingers crossed.Opening this thread just to get some advice, also mods have been notified. Last week i had a watch for sale and it was bought by an RWG member.Payment went through OK and watch shipped yesterday as promised along with a tracking number.Send the info to the buyer, had no reply, ok no worries there.Today i got a notice from PP that he has reversed his payment, and currently my PP balance is negative (thankfully i had withdraw a great part of my payments received since i had a couple of other transactions payed)so the amount that was transfered back to him was 188euros (not a small amount of money though) Worst part is that my PP balance is currently negative and i got not kind of explanation nor a warning note from them member prior to this reversal.I have already pm'd him and waiting for some kind of explanation, i will also contact my PO service and try to freeze the shipment Any kind of advice though would be more than helpful. I will keep you posted on any kind of development, if any Thanks for reading John Quote Link to comment Share on other sites More sharing options...
nakortheblue Posted September 21, 2010 Report Share Posted September 21, 2010 Can the payment be reversed unilaterally? I was under the impression that a dispute has to be filed first. Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 21, 2010 Author Report Share Posted September 21, 2010 Well i haven't found such kind of function but i just got a message from the member.Please keep posting your advice and i will post updates , hopefully soon enough. And no dispute there, i was really surprised.Maybe it could be a bank reverse issue due to a stolen cc reported.Good news is that the member has made contact so hopefully this will get resolved soon enough. PP sucks btw!!! Quote Link to comment Share on other sites More sharing options...
offshore Posted September 21, 2010 Report Share Posted September 21, 2010 Hmmm, far too much of this going on of late. Unfortunately, Pay Pal, can, and will do, whatever they see fit...they are the only non banking organisation, which acts like a bank but is not bound by bankers rules. Hope we can get to the bottom of this one jmarin,.....I do however see that there may need to be some changes to the way deals are being done......far too many deals not being completed of recent times. Offshore Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 21, 2010 Author Report Share Posted September 21, 2010 You are 100% right there PP charges fees but when you need them to help you ...well.... Regarding the deals gone bad thing, yes i have been noticing that lately, this is why i posted this thread and notified one of the mods so early, just in case.I have never stopped having faith in RWG members but sometimes you can never be so careful. Anyway, for now lets stay to a false alarm thread, till further notice Quote Link to comment Share on other sites More sharing options...
redwatch Posted September 21, 2010 Report Share Posted September 21, 2010 Wow this is rather disturbing that Paypal would initiate a payment reversal that quickly without any attempt to verify any details about the transaction at all. Something is very, very off here. I am quite keen to hear more about this at it develops. I hope you can freeze the shipment J. Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 21, 2010 Author Report Share Posted September 21, 2010 Thanks Red, yes i aggree this whole reversal thing looks way off. Well like i said buyer has already contacted me twice, he said he is already making efforts to reverse the funds back to me so we'll see how it goes Quote Link to comment Share on other sites More sharing options...
redwatch Posted September 21, 2010 Report Share Posted September 21, 2010 Have you contacted Paypal via phone? They are usually very, very good on the phone (at least they have been for me). It's the only company that picks up the phone after a couple of rings - with a real person on the line (and they are not in India) Quote Link to comment Share on other sites More sharing options...
krpster Posted September 21, 2010 Report Share Posted September 21, 2010 I can't believe it is possible to reverse a payment after it is sent. That's just crazy. I always thought that once you pushed the button it was pretty much like handing over a stack of bills. Learn something new every day. I hope everything works out. Quote Link to comment Share on other sites More sharing options...
txcollector Posted September 21, 2010 Report Share Posted September 21, 2010 Paypal is a broker not a bank. They take money from one party and give to another. During the PP transaction all they do is to ask for authorization from the payment source (bank, credit card or PP balance). Like any inter company transaction it goes thru a clearing house and takes 3-5 business days to be executed. During that period the payment source (e.g. checking account) may not have sufficient funds to complete the transaction and the transaction is reversed. That's an automatic process that does not require a dispute. The other option is for transactions that are funded by a CC to be disputed from the CC company (e.g. I call my CC company and complain the transaction was not authorized, the item wasn't shipped, item was not what was sold, etc.). In that case the CC informs Paypal the money won't be transferred or it will be reversed. It's a good sign the buyer has contacted you. That's the best way to solve this. PP won't be able to do anything for you there. Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 21, 2010 Author Report Share Posted September 21, 2010 Well in my opinion the reversal might have been made by the buyer's bank, maybe for security reasons?I really can't seem to find a way for the buyer to reverse the transaction by himself. Good thing is that we are in touch with the buyer so i think we are in a good way. Quote Link to comment Share on other sites More sharing options...
redwatch Posted September 21, 2010 Report Share Posted September 21, 2010 Good info TX. I never thought of that. I have never reversed a transaction, nor sent money when I didn't have the funds, so I've never seen anything like that before. Quote Link to comment Share on other sites More sharing options...
txcollector Posted September 21, 2010 Report Share Posted September 21, 2010 Well in my opinion the reversal might have been made by the buyer's bank, maybe for security reasons?I really can't seem to find a way for the buyer to reverse the transaction by himself. Good thing is that we are in touch with the buyer so i think we are in a good way. There are a few conditions (mainly related to regulatory conditions or fraud) that would trigger the bank to revert the transaction. The most common factor is lack of funds. Some banks have some clever schemes to allow you to overdraft just to charge you an enormous fee and screw up your account. My daughter was using her ATM card for things like fast food, etc and went over her balance by $5. The bank authorized the charge but hit us with a $150 fee. That fee would effectively influence a number of transactions in flight if left uncovered. Fortunately with the financial reform this kind of overdraft "service" has to be optional now (before they forced you to have it). If the transaction was funded with a CC, the buyer can dispute the transaction with a CC company and they will issue a chargeback to PP. I hope that's not what happened. Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 21, 2010 Author Report Share Posted September 21, 2010 Ok guys i got good news.The bank has returned the funds back to me, i have to thank the buyer , he was all the way there with me, he proved himself to be a trusted guy with no cruel intentions, i would definitely do business with him again. Seems to me more like a bank/cc issue rather than a devious buyer. Now i'll have to wait till the watch has been delivered to him and post a member transaction review, definitely positive. But i guess this was a good chance for all of us to get another report of how PP works and what to expect when there is a bank/cc issue. I wish to thank all of you for your advices , tx gave some great pointers for all of us , and Ubi for contacting me personally via pm. I will send also a pm to the mod to let him know that everything is ok. Quote Link to comment Share on other sites More sharing options...
redwatch Posted September 21, 2010 Report Share Posted September 21, 2010 Phew.....glad to hear that it's been worked out J. After all of these scam posts cropping up lately, it's nice to hear that one transaction has been worked out with the most simple of methods - basic communication! Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 21, 2010 Author Report Share Posted September 21, 2010 Well i really hate myself for raising the alarm through this thread but the whole situation seemed like you said a little off.I mean, if it was just a dispute ok it wouldn't be so strange, but a reverse from the bank?well i got to say that the buyer really stood up and resolved this asap despite the hour difference (he is in the States)Mod has been notified for the false alarm, sorry guys. Quote Link to comment Share on other sites More sharing options...
txcollector Posted September 21, 2010 Report Share Posted September 21, 2010 I'm glad for you. When the buyer and seller are in communication things have a tendency to work out. Quote Link to comment Share on other sites More sharing options...
maxman Posted September 22, 2010 Report Share Posted September 22, 2010 Im happy to hear that everything looks good and should work out well Quote Link to comment Share on other sites More sharing options...
jmarin.72 Posted September 22, 2010 Author Report Share Posted September 22, 2010 Thanks Mike, buyer proved himself and stood by me all the way, excellent response from his part None of that was his fault, this was due to banking security reasons only. Quote Link to comment Share on other sites More sharing options...
maxman Posted September 22, 2010 Report Share Posted September 22, 2010 Thanks Mike, buyer proved himself and stood by me all the way, excellent response from his part None of that was his fault, this was due to banking security reasons only. Yea that PP can be a real pain In the ass....,that dosent sound right does it? Quote Link to comment Share on other sites More sharing options...
dluddy Posted September 22, 2010 Report Share Posted September 22, 2010 Quote Link to comment Share on other sites More sharing options...
txcollector Posted September 22, 2010 Report Share Posted September 22, 2010 Yea that PP can be a real pain In the ass....,that dosent sound right does it? actually it does. Financial institutions will stop transaction if there's a suspicion of fraud or money laundry. It's getting worse everyday. Quote Link to comment Share on other sites More sharing options...
maxman Posted September 22, 2010 Report Share Posted September 22, 2010 actually it does. Financial institutions will stop transaction if there's a suspicion of fraud or money laundry. It's getting worse everyday. I was trying to be funny, PP.. pain In the ass,oh never mind, sorry Quote Link to comment Share on other sites More sharing options...
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