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Bank statement does not identify the merchant, just says "PAYPAL TRANSFER - TRANSFER"

Kristy288
Member

Bank statement does not identify the merchant, just says "PAYPAL TRANSFER - TRANSFER"

I received a charge on my bank statement that just says, "PAYPAL TRANSFER - TRANSFER" with nothing else but the amount of the charge, $86.00.

I contacted my bank to find out if there was any other information on who the merchant was for the charge and they looked it up and had no additional information on who the merchant may be.  I checked my PayPal account and there were no matching transactions in my account.  I contacted PayPal customer service and they were not able to offer any help, just advised me that if it did not go through my PayPal account, then it was most likely a guest checkout for a merchant who uses PayPal as their processing platform and that I could dispute the charge with my bank.  I want to ask how can PayPal have allowed a transaction to take place with no identifying merchant information?  Are there no payment processing standards for requiring a merchant to identify themselves?  If PayPal allows anonymous charges to go on people's bank accounts, aren't they creating an environment that is ripe for fraudulent anonymous charges?  I own a small business and was considering using PayPal to process credit card transactions but after this experience, I don't think so.