JPMC RE PAYPAL

[Bjmackay]

Hi I've just noticed a dd payment on my bank statement listed as jpmc re PayPal could you please clarify what this is as it doesn't show on my PayPal account. Thank you

[kernowlass · Accepted solution]

@Bjmackay 

When you add a bank account to paypal it sets up the direct debit mandate so that paypal can take authorised payments for any purchases you make. 
No company eg water/electric can take funds from your bank account on a regular basis without that direct debit.
However the amount shown is always the ''last'' transaction / amount that you paid to a seller via paypal.

[Pompey68]

But why have they set upo a new DD. I've been paying them by DD for a few years and it shows as "PAYPAL PAYMENT" not sure why I've suddenly got one for "JPMC RE PAYPAL" - If PayPal have changed the way they direct debit are they not obliged by law to let me know?

I've just double checked, and it is the same account reference of my paypal DD, so I'm guessing that they have just changed the name, this might be the begining of the changes they are making in december because of BREXIT...

[tomlpool]

Agreed, they should have sent an email out about this, I was panicked when I saw a number of transactions listed as JPMC RE PAYPAL rather than PAYPAL PAYMENT but on checking they all appear fine, usual transactions I have made.

A simple notification would have saved the deluge of contact they will get about this. 

[Kirsten75]

It’s a scam, you need to contact your bank asap! 

[kernowlass]

@Kirsten75 

When you add a bank account to paypal it sets up the direct debit mandate so that paypal can take authorised payments for any purchases you make (or pay your Ebay fees).
No company eg water/electric can take funds from your bank account on a regular basis without that direct debit.
However the amount shown is always the ''last'' transaction / amount that you paid to a seller via paypal.

Sometimes it does not coincide with the date you made the payment as paypal CREDIT the seller in advance and then paypal wait for the funds to transfer from your bank account, they can 'leave' that account at anytime from a few hours up to a few days later. Also the 'amount' can sometimes not be recognised if you used it as a part-payment with the rest coming from funds already in your paypal balance.

[Kirsten75]

Contacted my bank who agreed I’d been hacked and agreed a refund

[kernowlass]

@Kirsten75 

If you cancel then you won't be able to use your bank account linked to paypal for your ebay purchases anymore.

[LAP56]

I had a payment taken a few days ago with the reference JPMC RE PAYPAL, it coincided with an eBay purchase and so I assumed it was ok. Today I’ve noticed the same reference but for £4.99 .. it was a direct debit payment … I checked my bank DDs, and there it was .. £4.99 WEEKLY!! I cancelled the DD and phoned my bank, but they were unhelpful, said it was nothing to do with them and I should contact Paypal. They also said that they couldn’t stop the direct debit from being set up again despite my having cancelled it. I can’t speak to anybody at PayPal this evening, but on checking my account I can’t find any £4.99 automatic payments. I am totally confused.

[ST87]

I have the same ref from PayPal transaction to my bank acct, but its not a scam. Just a monthly direct debit to Now TV. However the reference on bank statement month displays it as JPMC re paypal. Thats all.