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Can Paypal payments bounce?

Once a paypal payment has been credited to my account is there any way it can be taken back? For example if the payer didn't have enough funds in their account. Or maybe any other reason. And if it can 'bounce' what amount of time has to pass before the payment has been 100% cleared.

mikeymike99 Fri 05/09/08 10:03

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mrs_overall
Fri 05/09/08
12:33

I refuse to use paypal.
I sold an expensive item on ebay and the funds were credited to my paypal account.
Six MONTHS later, the same sum was taken from my account by paypal. The buyer claimed she hadn't bought the item and someone must have misused her credit card. I had proof that I'd posted the item. She denied she'd received it.
To cut a very long story short - paypal believed her, not me, and I was left out of pocket and minus the goods.

Ethel
Fri 05/09/08
13:26

If you follow the rules, you will be safe:

You have a Verified PayPal Account
Send to the PayPal verified address
Send goods using a tracking postal service - you need to be able to prove the goods were received, not just posed. Keep postage documents.
Make sure the goods you sell are covered by PayPal Sellers' Protection
Post within 7 days of receiving payment
Do not impose additional charges that are not permitted by PayPal or eBay

As long as you follow all of the above, the money will never be taken back, even if the buyer used a stolen credit card.

Ethel
Fri 05/09/08
13:30

I accept between 5000 and 8000 paypal transactions every year, for between £5 and £500 and I have never had a problem.

When I accepted cheques, I had three bounce months after they had cleared because they had been issued fraudulently - although this can't happen now as the law has changed. That left me about £3000 out of pocket.

As an eBay buyer, I would not pay by anything other than PayPal - the buyer has no protection whatsover if the goods don't arrive

Chickadee
Fri 05/09/08
16:43

Agree with Ethel totally.

The only time I have ever had problems was cheques bouncing or never even arriving (buyer changing mind) when selling.

Or paying by cheque or postal order and never receiving goods.

At least with Paypal you have protection.

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