Cancelled order at Newegg, Newegg refunded my Paypal, Paypal promptly put a hold?

[VirtualLarry]

I don't get what's going on here.

I placed an order with Newegg, using Paypal, as I often do.

This time, I decided to cancel my order.

A few days later, I get an e-mail from Newegg, and Paypal.

Newegg refunded my money into Paypal.

Paypal says I got a refund too.

But when I look at the detailed transaction history, instead of Paypal putting the money back into my bank account where it belongs, they've placed a "Temporary hold" on my money. Says I've send money to PayPal, using PayPal, LOL.

When will I get my money back? Do I need to call them? Has this happened to anyone else cancelling orders at an online merchant? I thought PayPal was supposed to be easy to use for buyers.

 

[rudeguy]

10 days IIRC with paypal

 

[mmntech]

Don't know why anybody is still using PayPal if they don't have to. Do you not have a credit card?

 

[dud]

Another PP income stream ... earning interest on YOUR money.

 

[Peter Nixeus]

I don't get what's going on here.

I placed an order with Newegg, using Paypal, as I often do.

This time, I decided to cancel my order.

A few days later, I get an e-mail from Newegg, and Paypal.

Newegg refunded my money into Paypal.

Paypal says I got a refund too.

But when I look at the detailed transaction history, instead of Paypal putting the money back into my bank account where it belongs, they've placed a "Temporary hold" on my money. Says I've send money to PayPal, using PayPal, LOL.

When will I get my money back? Do I need to call them? Has this happened to anyone else cancelling orders at an online merchant? I thought PayPal was supposed to be easy to use for buyers.

It will be a hold or pending in your paypal account, once it clears you have to transfer it back to your bank account.

 

[VirtualLarry]

It will be a hold or pending in your paypal account, once it clears you have to transfer it back to your bank account.

It shows that Newegg refunded my Paypal, and the money was in my Paypal balance. Then Paypal went and put a "temporary hold" on it, and took it all out of my balance.

So is this how Paypal makes money? Besides fees to recieve money, they also decide to randomly put holds on people's money, to make interest on it? Shady, really shady.

 

[alkemyst]

It shows that Newegg refunded my Paypal, and the money was in my Paypal balance. Then Paypal went and put a "temporary hold" on it, and took it all out of my balance.

So is this how Paypal makes money? Besides fees to recieve money, they also decide to randomly put holds on people's money, to make interest on it? Shady, really shady.

It's to protect themselves. It's like returns on checks and the like. They need to make sure the funds were valid.

Get some mis-deposit in your account, buy something through paypal, do an instant return and then get paypal money back.

It doesn't really work, but many think that launders the mis-deposit.

 

[wanderer27]

I don't know if they still can, but they used to have the ability to actually freeze the Bank account you had linked.
This caused some people some serious issues some time back, which is why I don't know if they can still do this or not.

As a rule I'd say to never link your main Bank account to PayPal - use a Credit Card.

I've had issues with funding a PayPal account as well with their so called instant funding Cash Card - forget it, it's a fraud, it takes just as long to get access to the money.


.

 

[DesiPower]

lol, I did the same thing. Bough a HDD, status showed packaging for 2 days, 3rd day there is a new coupon with additional $5 off, so I cancel the previous order and place a new one. Side note - its finally got shipped, from Canada, really!!! from CANADA???

But yes, just like OP its on hold, but its on CC so I dont care, I am sorry, but IMO only dimwits pay through banks

 

[Schfifty Five]

OP, is paying with paypal the only means for you to buy from newegg?

Is using a CC not an option?

 

[purbeast0]

why anyone would use paypal for anything outside of a forum sale or ebay (since they basically force you to use it) baffles me.

 

[I Saw OJ]

Fuck paypal. When the wife and I got married and she changed her last name you wouldn't believe the hoops we had to go through to get access to her account again. There is like 60 some dollars in there and I still dont think its resloved some almost 2 years later.

 

[DesiPower]

Don't know why anybody is still using PayPal if they don't have to. Do you not have a credit card?

why anyone would use paypal for anything outside of a forum sale or ebay (since they basically force you to use it) baffles me.

My CCs are stored on Paypal, I use it for several reason -
1. Convenience, done have to get my wallet to verify CID
2. Paypal gets its commission, I don't pay anything extra but keeps the money rolling, my contribution to society (US and Indian (where all PayPal's IT jobs are))
3. Sometimes Paypal gives me special discount and coupons.
4. Extra layer of fail safe as transaction can be disputed through Paypal or the last resort, CC
5. Ebay used paypal only

 

[DesiPower]

Another PP income stream ... earning interest on YOUR money.

Not my money if I am using CC :ninja:

 

[waggy]

I don't know if they still can, but they used to have the ability to actually freeze the Bank account you had linked.
This caused some people some serious issues some time back, which is why I don't know if they can still do this or not.

As a rule I'd say to never link your main Bank account to PayPal - use a Credit Card.

I've had issues with funding a PayPal account as well with their so called instant funding Cash Card - forget it, it's a fraud, it takes just as long to get access to the money.


.

hmm now that i think about it.

It was in the news all the time about them doing it. they were also being looked at by the government.

i haven't heard about it in years.

 

[DesiPower]

here's some explanation from from dear friends at PP

When you sent your payment, the money is not instantly transferred from your bank account to the recipient’s PayPal account. Instead we instantly credit the recipient's PayPal account on your behalf and simultaneously request the same amount from your bank account to reimburse ourselves.

It takes 5-7 business days for the money to arrive from your bank to PayPal (same timeframe and method as an eCheque in fact). If your Instant Bank Transfer is refunded, this refund cannot be completed until we receive the money from your bank to cover the original payment we made. A ‘Temporary Hold’ is ‘Placed’ on your refund while your bank processes your initial transfer request. When we receive the money from your bank, it will be credited to your PayPal balance.

 

[Aikouka]

One advantage that I didn't see you mention is the security in not giving your credit card information to everyone.

 

[alkemyst]

Paypal is great when you don't have your wallet and the merchant allows it.

I am not worried about a hold if I return an item.

 

[el-Capitan]

Paypal offers no miles, no additional warranties. I would never use it to purchase anything physical

 

[shadow9d9]

Paypal offers no miles, no additional warranties. I would never use it to purchase anything physical

Some places only accept paypal and you could use your CC through paypal...

 

[purbeast0]

My CCs are stored on Paypal, I use it for several reason -
1. Convenience, done have to get my wallet to verify CID
2. Paypal gets its commission, I don't pay anything extra but keeps the money rolling, my contribution to society (US and Indian (where all PayPal's IT jobs are))
3. Sometimes Paypal gives me special discount and coupons.
4. Extra layer of fail safe as transaction can be disputed through Paypal or the last resort, CC
5. Ebay used paypal only

but the op didn't pay with a credit card through paypal, he paid with his bank account.

 

[Meghan54]

I don't know if they still can, but they used to have the ability to actually freeze the Bank account you had linked.

Not true at all. Geez.....such misinformation. How the hell could Paypal freeze your fill in your bank account? Heck, they can't even access it to retrieve/make up a negative balance in your Paypal account, so they certainly have never been able to freeze your bank account.

 

[IAteYourMother]

My CCs are stored on Paypal, I use it for several reason -
1. Convenience, done have to get my wallet to verify CID
2. Paypal gets its commission, I don't pay anything extra but keeps the money rolling, my contribution to society (US and Indian (where all PayPal's IT jobs are))
3. Sometimes Paypal gives me special discount and coupons.
4. Extra layer of fail safe as transaction can be disputed through Paypal or the last resort, CC
5. Ebay used paypal only

Your vision of contributing to society is increasing paypal's profits? Dear Lord

 

[wanderer27]

Not true at all. Geez.....such misinformation. How the hell could Paypal freeze your fill in your bank account? Heck, they can't even access it to retrieve/make up a negative balance in your Paypal account, so they certainly have never been able to freeze your bank account.

Sheesh, there was a big stink about it in the news some years back.

http://money.cnn.com/2013/01/21/technology/paypal-frozen-funds/

http://www.experienceproject.com/qu...-That-They-Have-Withdrawal-Permission/2443477

http://www.paypalwarning.com/frozen-paypal-bank-accounts/


Don't feel like digging anymore myself, but there's lots out there about it if you just go look.


.

 

[Gooberlx2]

Don't know why anybody is still using PayPal if they don't have to. Do you not have a credit card?

I find Paypal to be quite convenient, and prefer a site store an easily revocable authorization token with them rather than my credit card details.