PayPal Holdings, Inc. Bank Account Or Service Complaint

PayPal Holdings, Inc. Bank account or service department,

Other bank product/service Making/receiving payments, sending money Virginia

I had an account with PayPal ( PayPal -, - ) and Paypal processed a payment to my account from a buyer, who has purchased a watch from me. Transaction amount was $5800.00. I have mailed the item to the buyer 's billing address with - tracked service. A buyer 's signature was obtained by - at the time of delivery. The bank-issuer of the buyer 's credit card initiated an unauthorized transaction request. I have provided Paypal with all the requested records, which clearly shown that I have mailed the product to the buyer 's billing address and buyer has signed for the package and - checked his government issued picture ID at delivery. Paypal reps confirmed that as a seller I HAVE SATISFIED all requirements for the involved transaction. PayPal reps also confirmed that the buyer 's bank HAS NOT provided any information regarding the case. BUT in about a month Paypal has withdrawn the funds ( $5800.00 ) from my account without my consent and transferred it to the buyer 's bank. PayPal reps has provided the following explanation : - The buyer 's bank has hundreds of millions legal budget and I do n't.


Unauthorized transactions happen, but responsibility and risk have to be shared between the seller/buyer and banks of the seller/buyer. For transactions such as mine - when item is shipped to the buyer 's billing address ( recorded and confirmed by the buyer 's bank ) with buyer 's signature and ID check on delivery - the responsibility has to be clearly on the buyer and buyer 's bank, and not on the seller. Otherwise, ANY buyer can use his credit card and order ANY item online without a need to pay for it, regardless of what evidence the seller provides and regardless what the seller does. This practice is very unfair to online sellers and very dangerous for the credit card industry. I expect Paypal to deliver the funds back to my account and let the buyer 's bank to deal with the buyer directly.