mam98031 • Volunteer Community Member • Buyer/Seller since 1999
@city*satins wrote:All of this assumes, by the way - that the seller hadn't already withdrawn the funds from Paypal before deciding not to go through with the sale, because in that case there's yet another delay while Paypal clears the refund funds from the seller's bank or credit card and THEN refunds the buyer who THEN has to wait for it to show up in his account.
Don't know if every seller here knows or has noticed - even if your payments are instantaneous because your account is backed up with a card, the refunds you issue aren't. If you don't have the full refund amount as a balance in your Paypal account, your refund is treated like an e-check.
Some of what you say is true but it isn't completely accurate. I'm not sure where the e-check come in at, but that isn't how they handle it unless the seller was paid with an echeck.
If it was money in the buyer's PP account, then the refund is quick and easy to get back to the buyer. If they paid with an echeck, then yes the reverse would happen and that does take a few days to get the funds back to the buyers bank account.
If they paid via credit card, the the original credit card / debit card payment is reverse than that takes a certain amount of time to get processed back to their card too.
@city*satins wrote:
@mam98031 wrote:
@city*satins wrote:All of this assumes, by the way - that the seller hadn't already withdrawn the funds from Paypal before deciding not to go through with the sale, because in that case there's yet another delay while Paypal clears the refund funds from the seller's bank or credit card and THEN refunds the buyer who THEN has to wait for it to show up in his account.
Don't know if every seller here knows or has noticed - even if your payments are instantaneous because your account is backed up with a card, the refunds you issue aren't. If you don't have the full refund amount as a balance in your Paypal account, your refund is treated like an e-check.
Some of what you say is true but it isn't completely accurate. I'm not sure where the e-check come in at, but that isn't how they handle it unless the seller was paid with an echeck.
If it was money in the buyer's PP account, then the refund is quick and easy to get back to the buyer. If they paid with an echeck, then yes the reverse would happen and that does take a few days to get the funds back to the buyers bank account.
If they paid via credit card, the the original credit card / debit card payment is reverse than that takes a certain amount of time to get processed back to their card too.
I think you're misunderstanding me. I'm saying that the SELLER who is issuing a refund has to have the funds sitting in his or her Paypal account for the outgoing part of the refund (from seller to buyer) to be instantaneous.
For example, suppose you sell something for $75, are paid and withdraw the funds from your Paypal account to your bank account. Then for whatever reason (either that day or two weeks later) you have to refund the buyer.
If you (the seller) do not have the $75 (or $75 less 2.9%) in your Paypal account to cover the refund, the portion that isn't in your Paypal account will be withdrawn via your funding source but not instantly. It'll be treated like an e-check and until it clears into your Paypal account, even if you had $70 in your Paypal account and are just $2.18 short - the $2.18 is going to come out of your bank account and will take the same amount of time as an e-check and only THEN will the buyer get the $75 transferred to him by Paypal.
THEN if the buyer's payment was funded with a credit card - the clock starts again, to get the refund $ deposited into the buyer's card account.
That's why, as a seller, if you have to issue a refund, you really want to do it when the full refund amount is sitting as a balance in your Paypal account. Otherwise tick tick tick....there's a delay caused by the seller.
The ONLY time it is an "instant" refund is going back to the buyer's PP account WHEN the original payment by the seller was from cash in their PP account. If this results in an overdraft in the seller's PP account, that is a separate issue.
For example if the seller has a claim filed in Ebay or PP against them and Ebay or PP rule against them, they pull the money from their PP account. If their account has no funds in it, it goes into a negative balance. Now certainly PP can go to the sellers attached funding account and pull the money, but they do not always do that right away. That does NOT delay the refund to the buyer. The deficit in the sellers account is between the seller and PP. The buye is Not affected by it.
