Paypal Credit

[SteamingKiln]

Hi Guys,

I've just recently used paypal credit as a payment method, however; my credit limit is £1000 and the transaction is £1449. 

The payment did fail on the confirmation page of the merchant; but the transaction is pending on my paypal credit page? 

Can someone please shed some light onto this for me; I'd really appreciate that.

Many Thanks,

Kiln

[sharpiemarker]

@SteamingKiln 

Its probably under review as Paypal's deciding whether to extend your credit limit based your income information/transaction history or approve the charge without increasing your credit limit or even declining it or using one of your linked funding sources for the entire amount instead.

[SteamingKiln]

Thanks for the reply! 

Damn, I really want to use paypal credit for such amount, I do not want them to take payments from my bank as a secondary method of payment.

Also, if I remove my bank account from my paypal account; will that stop paypal from automatically trying to take the payment from my bank?

Many Thanks,

Yonis

[sharpiemarker]

@SteamingKiln 

Maybe so, maybe no. And PayPal has the bank account info on file even if you removed it. How else is PayPal know if a bank account was added before, etc. If PayPal decides to put it on your bank account, just contact the seller to cancel the order instead. PayPal may still take the money out of your bank but at least it will be redirected back to your bank once it clears the outgoing process after seller issues a refund.

3.3 Bank accounts. By linking your bank account as a Funding Source, you are providing PayPal with a continuous authority (subject to the terms of the mandate used by your bank to set up and maintain that authority) to automatically charge your bank account for the amount necessary to purchase E-money in your Balance:

• required to cover a Payment Order to another User (plus transaction fees payable to us) when the bank account is the applicable Funding Source for that Payment Order pursuant to this Agreement: or
• when using the Add Funds functionality in your Account interface; and
• required to cover any amounts you owe to PayPal arising from your activity as a recipient of payments using the Services, if you are registered with PayPal as resident in the UK,.

You give PayPal the right to resubmit any debit you authorised that is returned for insufficient or uncollected funds. If you cancel any direct debit (including, without limitation, any SEPA Direct Debit), you agree to reimburse us for the value of any goods or services that you have consumed with the proceeds of that direct debit.

You agree that when PayPal receives a payment from your bank account to obtain E-money in your Account, PayPal may hold the funds in your Reserve Account for so long as PayPal determines that an NSF Risk exists. In such an event, the E-money will not be made available to you in your Payment Account (including for the execution of any Payment Order that the bank payment was made to cover) until PayPal determines that the NSF Risk has passed. Until that time the bank payment will appear to you as “Uncleared” in your Account details. PayPal is not in possession of all the information necessary to place the funds from your bank payment at your disposal until it determines that the NSF Risk has passed. 

PayPal reserves the right to require you to fund your requested payment by the use of Bank Account - eCheque to mitigate risk (including, without limitation, the NSF Risk) associated with your Payment Order.

PayPal may choose to offer some customers who have linked a bank account as a Funding Source access to Pay After Delivery, which allows a customer to defer a charge to this bank account for a period of time. If you are offered and choose to use this service, the Pay After Delivery Terms will apply.

THE LESSON: Always ensure your linked funding sources can be used to pay before making a PayPal Credit purchase with or without enough credit line to cover entire purchase.