Bouncing payment. What to do

[DavidB333]

Ok guys here we go, i made a payment of 30$ on 23 May and i had a choice from bank account or to choose from another credit card since this one was expired. My credit card was a prepaid. So i choose bank account which say 6-8 day before it pass. The day after (May 24) it passed, i had no money there cause i took it thinking it was only going to pass a few day later (Like it was saying from paypal). Now im -42.50 from my bank account cause it bounced.

Now what, is it going to bounce over and over again until im completly ruined or what. I see its still there on paypal saying waiting til 1 june to complete. I called paypal asking them to cancel this transaction and i couldnt understand anything cause im french (Yes i wrote a mail in french, no anwser). I THINK she said it was not going to pass again and it was gonna be -30$ in my paypal account. I want to be sure this is what going to happen because i dont want to end up paying 100+$ for a 30$ transaction this is completly stupid. If it doesnt pass one day, for sure the next day it wont pass again.

Anyone ever had this kind of problem and could describ what happened? I even contacted the merchant asking them to cancel no anwser yet.

[ZackBP]

ye, I know how you feel, I'm going to contact paypal today. Because they said it's suppose to take 6-8 business days when it took like 3 business days, im really fustrated i made 5 dollar payments which didnt go through, and now i owe the bank -$638, which is totally stupid. I am not going to pay for that, the paypal should write. GOING TO TAKE UP TO 8 BUSINESS DAYS instead of 6-8 business days

[PayPal_Andy]

ZackBP-

Welcome to the boards, wish it was under better circumstances. 😞

When we state that it takes approximately 6-8 business days for a payment to complete, that's the timeframe for the bank transfer to complete.  However, we initiate the request for funds from your bank within 24 hours of you making a payment.  Therefore you will usually see a debit from your bank within 24-72 hours. 

The best solution would be to immediately subtract the amount of your purchase as soon as you make it and not rely on your online bank statements, at least until you can see the bank transfer has left your account. This will keep you from spending the money that we're going to need for your purchase during those crucial first few days.

Andy