PAYPAL question

[chinman75]

Someone posted in the For Sale/Trade forum that he got ripped off.
If they reverse a charge for some reason and u have -2300
do they have the right to take the money out of your credit card
if you don't pay it off?

 

[Emulex]

once you "verify" your account with checking acct,you give them right to deposit or withdraw AT THEIR WILL to you account.

 

[Damon]

Hi emulex,

That is incorrect. Giving us your bank account information does not give us unilateral access to your bank account. This is a federally regulated item and transactions against the bank account do not take place unless you initiate a transaction. Please review the terms of use on charge backs and pending reversals.

 

[chinman75]

damon,
if there is -2300 on the acct and the person closes the acct,
what happens then?