NSF feels for failed bank transfer??

[MsBunky]

I recently tried to make a transfer from my bank account to my paypal account. I based the anticipated date of the transfer, as Paypal told me it would take some time, so that it would correspond with a payment that was coming INTO my bank account. Unfortunately for me, the transfer went through quicker than expected and so it failed, but I was charged a WHOPPING $85 FEE! Now, doesn't it stand to reason that if I don't have $100 to transfer into my account, I also don't have $85 to cover not having had the funds to transfer TO MYSELF???

[PayPal_Adrian]

Welcome to the boards!

You're right - I have never personally understood why banks charge NSF fees on cheques that bounce, as its clear the money isn't there to begin with.  Fortunately with PayPal, PayPal doesn't charge you any fees for a failed payment.  You should give your bank a call and see if they'll waive the $85 in fees they charged you.

Thanks!

Adrian

[dubs3]

I just want to get this clear for myself...

If I have a faied bank transfer from my bank account to Paypal.....

and my Paypal account has a negative balance now because of that failed transfer....

will there be a second attempt at the bank transfer again?

Also ....I did not realize that when I purchased something directly from (EBay for example) and the purchase came

straight out of my bank account.....and that amount afso failed......Is their going to be a 2nd attempt on that amount as well because it too failed?

Eg....$10 transfer from my bank account failed....and not realizing that when I purchased something off of Ebay, that the amount of the purchase being $12.18 also failed......Will both be tried a second time??

I am soooo stressed...help please 😞

[PayPal_Adrian]

dubs3 -

Welcome to the boards!

If your PayPal account now has a negative balance because of a failed transaction, that generally means our attempts to debit your bank have failed at least twice and an attempt to debit your card failed as well.

In this scenario, you will want to resolve the negative balance on PayPal as soon as possible.  If the negative balance remains, it's possible the bank transfer may be resubmitted in an attempt to cover the failed transaction.  Before initiating another bank transfer via "Add Funds," review your History to ensure a new bank transfer hasn't already been initialized.

Thanks!

Adrian

[dubs3]

Ok I just transfered the $9.56 from my bank account to my Paypal account in order to bring my account to a $0 balance and it is not in a negative balance anymore.

Regarding the other amount that did not come out of my bank....the $12 and something that I paid when ordering from Ebay...will that try to come out again? Because if it does it will not go through as there is not sufficient funds in there to cover it .... omg this is so embarassing :smileysad

You see ... after I transferred the $10 from my bank account in order to pay for my purchase on EBay, I ALSO paid for the item again. That was the $12 and something that also failed in my bank account. So what I am trying to figure out is if the Vendor that I did that with will try to take the money out again, because it does not even show in my Account History on PayPal....that is making me think that it was the vendor that put it through and that maybe they will try again to take it out.

I AM SO CONFUSED....PLEASE HELP!!

[PayPal_Adrian]

dubs3 - Don't be embarassed!  We all do these sorts of things sometimes.  When I was in college, one of the employers I worked for had this absolutely beautiful chest on sale.  In between my employee discount, a bit of haggling, and the chest already being on a deep, deep discount, I managed to get ahold of this leather bound, cedar chest for $25.  Deal right?  Well, I had forgotten I had paid my babysitter that week as well, and so the check didn't go through.... to my employer.  Talk about a fright, right?  Everything turned out ok, but boy did I walk on eggshells at work that week! 

The good news for you?  Your seller won't even know about this.  At this point, it's between you and PayPal, and all we ask is that you resolve the negative balance. 

So based on what you're telling me, it sounds like you first used the "Add Funds" feature, and then went out and made a payment.  In the future, you don't need to do that - just make the payment and we'll debit the bank directly.

How it is going to work out from here depends a lot on what your bank did.  Here's how it would play out normally.

1.  The "Add Funds" would present only one time.  After that, it doesn' present ever again if it's not paid.

2.  The purchase that you sent would present twice at first.  If it's not paid, then we try to charge the card.

3.  If the card fails, will not present to the bank again, for the purchase.  That one is defunct at this point and the account will then go negative.

It can definitely become complicated with more than one transaction, so I hope breaking it out step by step like that helps for you.  All told, your bank might have seen a total of four attempts to pull the funds so far.  Since you just added funds again, that would be number 5, which per your previous post, should be paid.  It may take a little while to get in there, but once it does, this whole thing will be wrapped up and back to normal. 

Hope that helps,

Adrian

[dubs3]

Much clearer now thank you. My only concern is that only 1 attempt was made so far for both the transfer and the purchase. If there are going to be more attempts then my bank will nail me for more NSF charges at $42.50 each OMG what am I going to do???

I transferred the amount required to get my account with Paypal out of the negative balance but there are no funds if they continue to try again.

OH BOY WHAT A NIGHTMARE!

[PayPal_Adrian]

I think this one is actually going to be ok for you - and here's why.

Since your PayPal account already went negative, we know the initial series of bank transfers are over with.  That means your bank received the first request, denied them, and the process moved right along.  If they only dinged you once with a fee, they likely rolled them all into one and chose to see them as the same merchant representing the same purchase. 

And really, that's a pretty nice way to do business.  Not all financial institutions are so considerate in regards to their NSF fees, and it sounds like you have a great one working for you.  You might check in with them to see what exactly happened on their end, but based on what you're telling me, they handled it the best way possible.  If that's the case, kudos to your bank!

Adrian

[PayPal_Adrian]

One correction I'd like to make here (and I'll edit the post above so we don't confuse anyone).

I decided it was probably a good idea to review our representment with Canada just in case - I'd hate to be giving you a  heart attack when it's  not necessary - and found out the following:

In Canada:

eCheques do not represent (one attempt only)

Add Funds do not represent (one attempt only)

and that negative balance thing I mentioned?  We don't do that in Canada.  Your account just goes negative if the credit card fails.

However, Instant Transfers will represent (total of two times).

So, that would still leave you at three - which means your bank is still super, super awesome for consolidating them.

Adrian