dahabsfan
Verified Trader,
As a follow up to this mess http://hobbyinsider.net/forum/showthread.php?t=181387
I had a rather lengthy (about an hour) discussion with a Paypal Manager this afternoon. He informed me of some interesting issues that not many people have any idea about (he may have went a little too far for his companies comfort with what he told me IMO).
I won't go into deep detail but if you're a Paypal user KNOW this:
When you receive a Payment notification email like this for example:
Item #(Insert Item Number) Instant Payment Received from (Insert Ebay ID)
Do not immediately assume that payment has actually been received and the money is yours (even if it shows as received in your account summary) because it is not.
Paypal instant payments (made from paypal balance transfers) are still subject to a 3-5 day clearance period through Paypal Inc's internal clearing house.
I won't go into the details of how it's done (as it's not information that needs to be public for more people to exploit - and if it happens to you there is nothing you can do about it if you didn't follow Paypal Seller Protection guidelines) but even after an Instant Payment is made (and you've received the notification email and account summary shows it received) it can still be reversed by the buyer WITHOUT filing a dispute for item not received or damaged items.
The Manager did indicate that it's an issue that they are trying to fix as it has become a "widespread problem" with ebay transactions but for the present time it remains unchanged.
Darren
I had a rather lengthy (about an hour) discussion with a Paypal Manager this afternoon. He informed me of some interesting issues that not many people have any idea about (he may have went a little too far for his companies comfort with what he told me IMO).
I won't go into deep detail but if you're a Paypal user KNOW this:
When you receive a Payment notification email like this for example:
Item #(Insert Item Number) Instant Payment Received from (Insert Ebay ID)
Do not immediately assume that payment has actually been received and the money is yours (even if it shows as received in your account summary) because it is not.
Paypal instant payments (made from paypal balance transfers) are still subject to a 3-5 day clearance period through Paypal Inc's internal clearing house.
I won't go into the details of how it's done (as it's not information that needs to be public for more people to exploit - and if it happens to you there is nothing you can do about it if you didn't follow Paypal Seller Protection guidelines) but even after an Instant Payment is made (and you've received the notification email and account summary shows it received) it can still be reversed by the buyer WITHOUT filing a dispute for item not received or damaged items.
The Manager did indicate that it's an issue that they are trying to fix as it has become a "widespread problem" with ebay transactions but for the present time it remains unchanged.
Darren
