Instant Transfer NSF Question

[paul8888]

I just noticed that a recent instant payment I sent was returned NSF due to poor planning on my part.

I've read on these forums that a 2nd attempt to withdraw the funds from my bank account will occur before my credit card is charged. Is this accurate? Also, how long before the 2nd attempt takes place after the 1st? And lastly, if there are funds in my paypal balance, will those be used to cover the transfer or will it automatically attempt a 2nd withdrawl from my bank account?

Thanks in advance!

[PayPal_Adrian]

paul8888 -

Welcome to the boards!

When an Instant Transfer is declined on the first go round, PayPal then waits two working days before re-submitting the transfer request.  You should receive an email notification when we find out that the first attempt has failed, outlining the wait time and then that it will be resubmitted.  Your balance will not be used at this time.

If the second transfer attempt fails, then the transfer will be charged against your card.  Your balance will not be used at this time.

If the card fails, then your balance is charged - including taking it negative to cover the purchase, if needed

I know it seems odd we wouldn't take the balance in the earlier steps, but once a payment is sent, it is sort of "locked in" as to what steps it has to take.  It's only once it essentially breaks out of the already selected pathway that we can open it up to taking out the balance. 

Hope this helps!

Adrian

[Cupids_Dame]

Thank you for posting such an informative answer to this question! Would you be able to tell me if there is any way for me to cooect the issue oe resend pmt BEFORE the two days have passed? Also, does Paypal charge NSF fees, because I thought that the $ 42.50 fee was my bank's fee for the NSF?

[PayPal_Olivia]

Hi Cupids_Dame, and welcome to the forums!

Good questions!

PayPal never charges NSF fees, but the bank you use as your primary funding source is likely to do so if the funds aren't there. Some banks offer overdraft protection, which would mean that the funds would be sent to us on the first attempt even if you didn't have enough to cover, but they would still probably charge the NSF fee.

Without overdraft protection, the best way to prevent the second charge resulting in an NSF fee is to get funds into the bank account as soon as you can. The second attempt on the primary funding source is an unpreventable part of the process if the first attempt fails.

I hope this helps!

Olivia

[crazycanuck90]

i too have a NSF thing. I can only guess that the exchange rate changed in two days, cuz it bounced over 2.00.

So there will be a second attempt?

[PayPal_Olivia]

Hi crazycanuck90,

If the bank has been tried once, it will be tried again a few days later.

Olivia