When I attempted to purchase goods on eBay worth $867, I used the convenience of PayPal. The payment was declined. As security, and forgotten by me, I had daily limits set under $700 on my credit card which caused the decline. The only notification from eBay or PayPal at the time was that the transaction was declined. I had no idea the funds would automatically be debited from my savings account. At no time was I notified by PayPal that the debit would be taken from my savings account. Had I been notified I would not have attempted another transaction to purchase the item. Stupidly I tried for a second time to purchase the $867 item. This resulted in two debits from my savings account. These appeared on my bank statement the very next day. The merchant was wonderful, understanding I had duplicated the transaction they promptly refunded the $867. PayPal, despite many phone calls and emails still refused to release the refunds. They even blamed my bank for the delay, which the bank denied. After 5 days had elapsed I was allowed to transfer the credited funds to my bank only to expect a further delay of 5 working days for the funds to be available. For most people this most likely wouldn’t be a big deal. However, as explained to PayPal I use my credit card for daily transactions then at the end of the month, after pension payments I pay off my credit card in total. Having the unauthorised amount of $867 taken from my savings means I am now under financial stress to pay my credit card by the end of the month. It appears that PayPal use the funds of its trusting members for up to 5 days and don't care about financial hardship.
... View more