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PayPal caused over $1000 in overdraft fees

I had switched my account to a different bank account with Paypal. I verified that it was changed on my account. Despite taking all these precautions on several transactions Paypal attempted to debit the wrong bank account which didn’t have the funds to cover the transactions. Paypal continued to resubmit these transactions over and over again despite my contacting them at least 4 or 5 times. This fiasco ended up generating over $1000 in overdraft fees on my bank account! I ended up getting around 50% of those fees refunded by my bank because they realized it was ridiculous. Someone at Paypal told me that if my bank covered 1/2 the fees, which they did that Paypal would cover the balance. I’m sure you can guess that that never happened. It was just amazing to me that they would continue to resubmit the same charges over and over again! They really are complete idiots!

Posted: October 11, 2012 at 2:25 pm

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3 thoughts on “PayPal caused over $1000 in overdraft fees
  1. Tony on

    Why does paypal do that, keep trying to debit the same, wrong account over and over. Same thing happened to me and when I contacted paypal they said I had incorrectly updated my bank account info. There is only one way to update it and that’s how I did it!! My bank ended up waving the overdraft fees, I had never had one before. But I am no longer going to be using paypal that’s for sure.

  2. floyd on

    3 times paypal tried taking money out of my bank account even though I had chosen the option to have have the money taken out of my paypal account balance when they became available since I knew didn’t have enough funds in my bank account cuz paypal is always holding my funds. But those fuckers went and tried to debit my account 3 times causing over $100 in fees before my bank put a stop to it.

  3. Lace on

    PP withdrew money from my main account I had on file, which is what was supposed to happen, for items I purchased off ebay for our trip to Disney back in 2011. Then they also charged my secondary account, twice! My secondary account is an account that doesn’t hold much and therefore the funds weren’t completely there.

    They did this 2x and caused me fees on top of fees. All while I was in Disney, unable to know this was happening because we didn’t get online. I don’t do mobile alerts. When I got back, it racked up to be over $400 in fees (we were gone for over 10 days). The items were paid in full by my main bank account before we left so there was no reason to charge my secondary account at all.

    Let me tell you, I had to fax to paypal prove my identity, which they claimed they never received, I had to fax again and wait weeks for any response. They refused to refund anything. I reported them to the BBB and that got nowhere, because there were 10s of 1000s of similar complaints, and I was considered lucky. Out of these 10s of 1000s of complaints involved they concerned similar cases involving 1000s of dollars. I complained to the attorney general – which is something not easy because, Paypal is registered and operated in 3 different states. So you have to complain to each state’s attorney general and you will never guess what happens – they all send you a generic letter explaining how they can’t do anything because paypal isn’t fully registered or whatever in their state. So this is how Paypal is able to get away at what they do. I will never use paypal again. I can’t believe they are allowed to steal people’s money like they do. It’s sad.