Semi Good Fenders News :)
Senior Member
Joined: Sep 2004
Posts: 175
Likes: 0
From: Montreal, Qc, Canada
From what I read of the agreement, we're screwed.
By receiving money, we're considered a "Seller" in the transaction.
The agrement says we are not protected against reversal unless the transaction qualifies for the Seller Protection Policy. Of course, our transaction does not qualify. The agreement says that we owe Paypal the money we received, and they have the rights to debit our Paypal balance...
It kills me to tell you that.. but I prefer you realize this before doing anything.
I'll try to find the part where it talks about closing the account...
By receiving money, we're considered a "Seller" in the transaction.
The agrement says we are not protected against reversal unless the transaction qualifies for the Seller Protection Policy. Of course, our transaction does not qualify. The agreement says that we owe Paypal the money we received, and they have the rights to debit our Paypal balance...
It kills me to tell you that.. but I prefer you realize this before doing anything.
QUOTE
Receipt of Payments; Risk of Reversal of Transactions; Collection of Funds you owe PayPal. When you receive a payment through the Service, unless you follow the steps necessary to qualify for our Seller Protection Policy, you are not protected against a subsequent reversal of the transaction. In the event that the sender's transaction is reversed for any reason and you do not qualify for the Seller Protection Policy for that transaction, you will owe PayPal for the amount of the reversed transaction plus any fees imposed on PayPal as a result of the reversal. Examples of such a reversal include, but are not limited to, a credit card reversal by the sender of the payment, and a reversal of the transaction because the sender of the payment was using a stolen credit card or unauthorized bank account. PayPal will seek to recover the funds from you by debiting your PayPal balance and, if there are not sufficient funds in your PayPal balance, PayPal reserves the right to collect your debt to PayPal by any other legal means.
I'll try to find the part where it talks about closing the account...