So I got a rude awakening this morning with emails from Paypal telling me that I have sent an enormous amount of money through instant transfer (via bank account) to someone that I have never heard of, in the form of a donation. This email was followed by emails about how they suspect the activity on my account and told me to change my password and security questions. I logged onto the paypal website and saw the transaction, and also changed my password and security questions just to be safe.
Then I filed an unauthorized transaction dispute through the resolution center, spoke with someone from Paypal on the phone to make sure that there is nothing else to do for paypal at the moment. The lady told me that it will take about 7-10 days to investigate. My paypal account is showing a balance of zero still, and when I called my bank they didn't have a record of the money transferring out of my account yet. This may be because it's the weekend.
The woman I talked to on the phone from Paypal also recommended that I go to my bank branch tomorrow and tell them to deny any transfers to paypal. This is because even though I have filed a dispute, paypal would still transfer the money but then holds it until the investigation is over. Since I don't have that much money in my bank account either, this would incur another whole bunch of headaches if money was transfered to Paypal. So, I will be going to the bank first thing tomorrow morning and basically put a block on all ACH debit traffic out of my account just to be safe, and I may possible end up closing that bank account and open a new one.
My question is, since this is clearly a case of hacked account/fraud (Paypal noticed it immediately), the case should be resolved in my favor and I shouldn't end up with any fees right? As I am a poor student and there is no way that I could pay if Paypal actually decides that the transaction is legit. And I wouldn't want to pay because I didn't make a huge donation to someone (not even a place!) when I am just barely able to feed myself and pay bills.
Thanks.
