Concerning PAYPAL INST XFER charge/fee

[CaRheeaT]

I had been noticing PAYPAL INST XFER in my statements, and have no idea what they are.  I cannot find in the FAQ anything about them, so I assume they are a hidden fee from PayPal.

They started appearing March 4, 2018, right after linking a new card replacing another that had been cancelled for security reasons from the same bank I have been using for a year.  03/04 $0.24, 03/05 $0.99, 03/12 $2.99, 03/19 $4.99.  I have used PayPal several times this month, and the number of online purchases using PayPal do not match the number of Xfer fees.  I've shopped Google, Wish, Netflix, and Humble Bundle.

This morning's purchase I spent $8.36 for two games.  I received the $4.99 Xfer at the same time.  I began with $13.35 and now am left with $0.54 for an $8.36 purchase.  Today I realize that PayPal may been stealing from me.

I've had more than enough money in my bank account to cover the expenses.  I believed that PayPal directly linked to the debit card as a secure way of purchasing online.

I am confused, angry, and feel betrayed by a company I thought I could trust.

[CaRheeaT]

So I've read other posts regarding PAYPAL INST XFER.  I may have been hacked.  Other posts indicate a company after PAYPAL INST XFER, but the 'transactions' in my bank account just read PAYPAL INST XFER.

What is PAYPAL INST XFER?  Is it the type of transaction when you link from PP account to PP account?  For a 'vendor' to be able to conduct 'business' transactions without indicating who/what entity they are is concerning.

I called moneynetwork and there is nothing they can do on their end, I have to go to my employer and get a new payroll card packet to open a new account.  They cannot block the charges for 1) These charges are 'authorized' and 2) they do not know from whom these charges are coming from.  The identity is masked by PayPal.

And even though PayPal is not the one responsible for these charges, they are responsible for allowing them to happen.  I never authorized any of these, and most likely from the same entity, whoever they are.

INST XFERs should, in my opinion, have prompts, considering how the name sounds, it must be a bank to bank or paypal to paypal acct transfer, correct?  Transfers should be confirmed by both parties, wouldn't you think, to be truly safe and secure?

I apologize, I'm still angry.  I don't know what a PAYPAL INST XFER is, and paypal does not make aware to the public what it is, I still have lost trust with paypal.  Not knowing who this vendor is who is clearly using the paypal service is so disturbing security-wise.

[PayPal_Rich]

Hello @CaRheeaT,

Thanks for reaching out to us about your Instant Transfer inquiry. Instant Transfers are user-initiated payments funded by your bank account. PayPal pays the merchant on your behalf and then waits for your bank to finish processing the payment to pay PayPal back.f for the money PayPal sends immediately at the time of the purchase. Basically, it is kind of like a very short-term loan. No additional fees are levied for the use of this service. Here is a link on our website for more information about Instant Transfers: https://www.paypal.com/us/selfhelp/article/how-do-i-send-an-instant-transfer-using-my-u.s.-bank-acco...