Buyer cancelled payment via bank not PayPal how do I get my funds?

[Babekoner]

Buy and I had great communication payment was received after purchase was made but was pending. PayPal said the wait wld be 5 days for payment to clear from his financial institution. I then find out he has cancelled the payment and PayPal say it is frm his bank. I have tried contacting him and he keeps saying PayPal are lying and they have taken his money, I have been ripped off 350 and no one can seem to explain were my money has gone or how he was able to get away with tricking me into thinking I was going to recieve my money. PayPal sent me a text and now they are telling me its his bank but how? I though pay pal was safe and secure how was he able to do this I have lost my money and item. He has both and PayPal won't help

[kernowlass]

@Babekoner 

If it was an echeque then you need to wait for it to clear before sending any item.

Paypal normally give you an approx clearance date.  

[Babekoner]

OK when I called PayPal the second time they did mention an echeque but when I rung a thrird time yesterday they said it was cancelled via his bank. I don't understand how he was able to do this how can i try claim my money for my item he has I have proof he recieved item and was happy I had no idea PayPal was this unsafe I just want my money

[kernowlass]

@Babekoner 

Transfers from bank accounts are never instant, that is why when you sell something paypal credit you the seller upfront and paypal take the wait for the funds to transfer from the buyer to pay them back again.

However they only do that if the buyer has a back up card linked to their paypal account IF NOT then it will go as an echeque and the onus is on you to take the wait this time.

If when paypal go to debit the buyers bank account there are insufficient funds in there then the bank declines the transfer.

That is why for echeques you have to await clearance.

[Babekoner]

OK so does that mean I have no way to be refunded my coin. I really wish I knew about this it is alot of money to me.

[kernowlass]

@Babekoner 

Have you contacted your buyer to ask them to pay again OR send them a money request?

Failing that can you tell them that if they don't pay you will pursue them in the small claims court if you have something like that in your country?