PayPal Question

[enforcersonly]

So, I was reading a thread on the Buy/Sell Board earlier and didnt want to hijack the thread with my question.

Someone mentioned "going into the red" on PayPal. Is it possible to do that? I ask because it takes funds 7-9 working days for funds to appear in my PayPal acct, sometimes if I transfer funds into the PayPal account an auction could have started and finished by the time the funds clear (including the time the seller gives for payment to be made).

Secondly, with the fluctuating exchange rate (£-$) some times I might have for instance £100 in my PP, a few months ago that would give me $197, two weeks ago it would have given me $178 etc etc. I always pay immediately, so if the currencies take a dive (check out recent events) I could one day have enough to pay for an auction, and not enough the next. If it is true that it is possible to go into the red, is there an amount its ok to go over by?

Anyway, theres a few things I have my eye on at the moment (just like Nathan has his eyes on the same things...) and should be ok to score at least one of them, possibly 2 depending on PayPal going through. Sorry for the long read, just a simple question really. Can I go over, yes or no?

 

[JohnnyDrama]

I wasn't aware of this as mine just draws from my bank account when I pay for something and don't have enough Pal funds.

 

[Pacman69]

i dont think there is anyway in the world that paypal is going to front money for you


(then again, i have been wrong before and will be wrong again....)



Pacman

 

[lemeiuxrules]

I believe that the only way you can have a -(neg) balance is if you withdrew your cash and then someone did a chargeback to you.

 

[quincy]

It's entirely possible that he's referring to depleting any balance he has in paypal and is dipping into his credit card or bank balance.

 

[gamebreakers]

Not that I know of. It either takes the $$$ from your bank account or your credit card if you don't have enough to cover your payment

 

[langway05]

It's entirely possible that he's referring to depleting any balance he has in paypal and is dipping into his credit card or bank balance.

I'm of this thinking as well...

 

[hextall27]

But if it tries to take money from an account and backup and both are in arrears (which I believe is what he said) paypal will probably put you in the red.

If you buy something, paypal desposits the money in the sellers account and puts a request to withdraw the money from your bank account or cc if your paypal account is depleted. If these accounts are nil i imagine paypal will put you in the red.

 

[allstarcollectors]

But if it tries to take money from an account and backup and both are in arrears (which I believe is what he said) paypal will probably put you in the red.

If you buy something, paypal desposits the money in the sellers account and puts a request to withdraw the money from your bank account or cc if your paypal account is depleted. If these accounts are nil i imagine paypal will put you in the red.

Lets all try it and bankrupt Paypal!!

 

[pathshot]

Lets all try it and bankrupt Paypal!!

....before they bankrupt us first....

Actually, I've had my account "in the red" before due to a chargeback. I always keep my account at $0.00 so I have money in hand for credit cards and cash purchases. The chargeback gave me a -$80-something balance.

They did NOT immediately try to pull the money from my account. Rather, the funds were "frozen" while this was being worked out, and I needed to fund my account to get it back to $0. But yes, you can have a negative balance in Paypal.

-Michael

 

[goldendogs11]

I think this i me we're talking about. What happened was I would pay like an echeck but it transfered immediately. I had enough in my bank account for when it went through but then my bank account took some fees out for some reason and left me with not enough. Paypal then went into negative numbers and i got dinged in my bank like $30 for each purchase. So on top of what i bought, i ended up paying $30-$35 extra for each purchase :|

 

[enforcersonly]

But if it tries to take money from an account and backup and both are in arrears (which I believe is what he said) paypal will probably put you in the red.

No we're all cool on the backup fund - well unless Mrs enforcersonly were to see extra funds going on "bits of cardboard".

I think this i me we're talking about.

Yes, didnt want to hijack the sell thread.

Thanks all, I think that answers my question.