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]

@shadelaney 

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.

[newdidit]

I really do not understand these JPMC payments from my bank, detailed as pay pal. The dates do not correspond with any purchases, are not detailed on my pay pal statements and are always for £10 or £4.99, a few for higher amounts but it just does not make any sense. Have now cancelled the direct debit on my bank should I now liaise with PayPal fraud dept ?

[kernowlass]

@newdidit 

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.

Those funds 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.

Lastly if you have  cancelled the direct debit you can no longer fund your paypal purchases from your bank account and your paypal account is no longer verified.

[Temp20220609g]

JPMC PAYPAL INT anyone know what this is my back account has been debited ??

[kernowlass]

@Temp20220609g 

When you add a bank account to paypal it sets up the direct debit mandate JPMC Paypal (JPMorgan Chase) so that Paypal can take authorised payments for any purchases you make funded from your bank account.

No company eg water/electric can take funds from your bank account on a regular basis without that direct debit.
It is not a 'regular' payment and won't change until you pay your next seller (the last amount shows until then).

JMPC Paypal is on my list of direct debits but as I only tend to fund my payments via a credit card the Direct Debit correctly shows the LAST seller I paid via Paypal / bank account in 2021

Sometimes the amounts  do 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. That can be anytime from a few hours up to a few days later. Also the amount is not recognised if you used it as a part-payment with the rest coming from funds already in your Paypal balance.

[GenevieveDesire]

Has anyone else had this issue - and more importantly how do you stop it?

A large amount, over £1123.44 set up as a direct debit from my bank account listed as PAYPAL PAYMENT and linked back to JPMC Paypal INT. I did not set this up and the transaction is not listed on my Paypal account at all.

Is this a scam?