PAYPAL warning

[Archive]

Posted By: Bobby Binder

Today PAYPAL reversed a charge on my account for almost $3000.00 on a transaction that happened on 12/5/06. I sold a card and was paid via PAYPAL and waited a week before shipping the item just to be safe. Well needless to say you would think that they would back their service but instead they debit my account today the $3000 and leave me no recourse to get the money or the item back from the original buyer. I thought using this service was a safe place to conduct business transactions. With this being the case then you are much better off only taking checks and cash because PAYPAL is not a safe bet.

I have put in a complaint but don't know what else I can do to rectify the situation. I purposely keep a low balance just in case and don't know if I should pay them back or not. Should I close the accounts that are connected to that PAYPAL so they can not take the money with out my permission?

TO ELABORATE:

The seller did not complain PAYPAL determined over a month after the fact that it was a bad transaction. I have no idea if the seller used a stolen credit card or not. The complaint was not issued by the buyer and assuming through the PAYPAL fraud department.

I updated to give more information..