> But now there's a problem. Remember: you are legally required to provide
> funds
> for refunds and chargebacks. Failure to do so is FRAUD, etc.
>
> Since your Paypal account is empty, Paypal will initiate an ACH transfer from
> your attached bank account. Your bank - instructed to not provide overdraft
> coverage - will bounce the ACH order, and hit you with a bounce fee. If the
> amount is small, Paypal will often give up, and let the rest of their
> policies
> and/or insurance handle things. But if the amount is large, Paypal could
> take
> legal action against you. And if the Buyer used a credit card, and initiated
> a
> chargeback, then that bank can also go after you! When all is said and done,
> and you've delt with the hassle and paid all the legal fees, and felt the
> dent
> in your credit rating, there's one final "bump": This is the 21st Century:
> Processors Talk. No matter where you go from then on, you will probably be
> required to keep an escrow available. Nice services like Paypal may just do
> a
> withdrawl delay. Other's will require a large cash balance at all times.
>
> Bottom line... This isn't a cash'n'carry garage sale where you can legally
> take
> the money and run. You have contracted with the banking system to process
> payments for you. Now you have to own up to your side of the contract too!
>
True,
. . . but if your are protecting your bank account from being raided unjustly
then let PayPal file a civil suite for fraud. If their claims are false you
have legal options.
Hypothetically, if someone was raiding my bank account on a bogus charge then I
would protect it by any means necessary. Of course many folks don't have the
motivations to really fight the powers that be.
If need be let the lawyers sort it out.
I know this is another simplistic solution to this wonderful modern world we
live in. And I know this not the country I grew up in during the days of old,
but I'm still feisty and and willing to exercise whatever rights I have left.
Oh well, --glen
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