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Has anyone else who used Working Capital from PayPal experienced unauthorized payments taken from their account today? My PayPal account was emptied as an unauthorized payment was deducted this morning and sent to my Working Capital paypack. When I contacted Working Capital I was told they were aware of the problem and they "hoped" the outcome would be that my money was returned to me.
I posted earlier this morning about PayPal's Working Capital Program taking unauthorized payments, and the post was quickly removed by PayPal. Apparently PayPal does not want you to know they are taking people's money without any authorization and their best response is they "hope" to put the money back in your account.
Thanks for your patience while we investigated this issue. We regret any inconvenience this has caused. Here's what I found out from our PayPal Working Capital team:
"Due to a temporary system error, catch-up payments processed on July 14 and July 15, 2014, were calculated or applied incorrectly to some PayPal Working Capital accounts.
Emails have been sent to PayPal Working Capital customers impacted by this error. For those customers, catch-up payments were processed incorrectly on July 14 or July 15, or, in some accounts, on both days.
In response to this issue, a “repayment holiday” was instituted on July 14, meaning that no repayments were collected on that day from any PayPal Working Capital accounts. In addition, the catch-up payments that were processed incorrectly in the affected accounts will be reversed and credited back to the affected businesses’ PayPal accounts.
Normal repayments resumed on July 15.
Any catch-up payment(s) erroneously applied to PayPal Working Capital accounts as a result of this issue will not be considered as part of the account’s catch-up payment limitation and thus the system error will not have a negative impact on loan status."
I hope this helps to clarify what happened. Thanks for your participation on the community!
I tried to reply to your earlier post, and it would not let me reply! They took $74 out today and it should have been $7 or $8.