Another post regarding Paypal holding people to ransom

[shacklestore]

I recently changed banks however Paypal won't let me withdraw funds to the new bank account unless I agree to Paypal's Direct Debit authorisation. The DD authorisation gives Paypal full access to funds held in that bank account.  

I don't need or want a DD in place and queried Paypal on this obligation but as usual have received nonsense replies. When I advised that if I didn't receive an explanantion or access to my funds I would escalate to a banking authority Paypal advised quote: "Should you wish to proceed with your escalation outside PayPal, we will respond accordingly then".

I had to grant permission so that I could access those funds without which I cannot continue my business. I have however contacted my bank and asked them to revoke Paypal's permission on their side.

[thecatspjs]

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@lyndal1838 wrote:

Still lyao this long after Happy Hour ended?

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where are the dead threaders now  ???

bahahhaha....

you said it m'dear .... 30 years ago .....

[davewil1964]

So your relevant contribution is?

[lyndal1838]

I'm not your dear.....can't you find anyone else to annoy tonight?

[thecatspjs]

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@davewil1964 wrote:

So your relevant contribution is?

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so much more than yours .......

🙂

goes without saying ....

bahhaahha dead threads have nothing on this one. .....

GOLD Lyndal ..... GOLD

[lyndal1838]

This is not a dead thread.....just a very off topic one thanks to you.

[thecatspjs]

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@lyndal1838 wrote:

Well it was many years ago now....probably the best part of 30 years ago.

Ever since I have avoided DDs as far as possible....those that are unavoidable are always paid in advance by me so there is never any need for the company to raid my account.

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Gold 🙂

Not off topic.

The best post eva giving commentary about direct debits. 

I have no doubt at all ... theres many people laughing as hard as me when they read this one....

. 

[davewil1964]

You are most likely correct.

Who they are laughing at would be the question.

[gewens]

Hello, all. I'd like to remind you that off-topic and interpersonal discussion are not permitted here. Please read the policy here: http://pages.ebay.com.au/help/policies/everyone-boards.html

[shacklestore]

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@englishrosegardens wrote:

When anyone wants to sell and use paypal they have to authorise access to their account.  This is becasue of the shonky sellers who get a heap of sales, withdraw their paypal funds, then disappear into thin air.  It's just paypal's way of ensuring that people don't abscond with the funds after fraudulent transactions.  If there was no way for paypal to recoup the funds in this sort of situation then it'd become a pretty popular practice, and guess who'd end up paying for it?  Yes, the honest sellers.  

They upgraded their agreement a few years ago so that anyone who continued to use paypal agreed to give them access to their bank account.  We all got an email about it and agreed to it by default (by continuing to use paypal).  

It's not really that much different to banks refusing to give you credit without some sort of security for the loan.

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I have to disagree with you. I don't believe giving Paypal access to my bank account so that they can withdraw funds at will is safe. The agreement includes allowing Paypal to withdraw funds at the request of third-parties (whoever they may be). Also I don't believe that the reason Paypal is demanding this is to protect from shonky sellers. It may be one reason but it is a feeble reason. Those shonky sellers could just transfer fraudulent obtained funds to another bank account anyway. The direct debit agreement is a facility but I don't need it so don't want it. 

However there are 2 issues at hand regarding Paypal's position. The second one is Paypal holding into funds until I authorise their access to funds in my bank account. However whether it is legal will be clarified by the regulator once they get back to me.

[phorum_junkie*]

I have no problem authorising Paypal to take money from my bank account that is legitimately owed to them or to ebay., why should ebay or Paypal, be out of pocket because some shonnky seller withdraws their funds fast enough to avoid their cash being frozen by Paypal.

Why should all we honest sellers have to pay more because ebay and Paypal cannot get payments that are owed from somebody's bank account if they have emptied their Paypal account.

If you are worried that Paypal or ebay may get it wrong and take funds they should not then only keep a small amount in that bank account. Not rocket science.