Does paypal have the right to take money out of my bank account?

[xoiyvnex]

I want to know all that paypal has rights to. If a customer wants a refund and my PP account balance is empty, will paypal have the right to take money out of my bank account even without my permission?

[surplusdealdude]

You gave paypal the right to when you opened your account.

[xoiyvnex]

oh okay. Thanks I understand fully now. If I delete my account, will they still have the right to do that?

[surplusdealdude]

Yup.

[xoiyvnex]

how so, though?

[surplusdealdude]

Because you cn't close your account with a negative balance in it or with pending charges to it.

[xoiyvnex]

Yes, I understand that I can't close my accoun to avoid fees and chargebacks. I'm going to delete my paypal account soon. But I had an onlin store which I recently closed because we're sold out. Anyways, let's say I close my account today and a customer of mine file a complaint and asks for a refund. She contacts her credit card company and the company contacts paypal. Will they be able to take funds out of my account then. Even if when I closed my account, I didn't owe any money. Will they be able to charge money from my bank account then?

[surplusdealdude]

I think there's a waiting period before you can close your account, something like 90 days.  If a dispute comes in, you're still on the hook.

[xoiyvnex]

Oh okay, Thank you so much for your informative answers. I just have one more question. I want to delete my old bank account and put in my new one. Does paypal save my old bank account informations? Thank you for all your answers.

[surplusdealdude]

Yes, they do.