Paypal refund

[ritchie]

I am sure all of you use PayPal for various payments. I use it mostly when I am renewing my contract with my web hosting company. I once heard that PayPal actually refunds you for payments made erroneously or for instances of disputed transactions. One such instance is if you are paying a merchant who ends up not delivering an item you have bought. How true is this?

 

[Dusart]

Very true. I've experienced both sides of it - as the customer and as the seller. They are very good about that. If you have a dispute they take care of it and you are refunded your money within a couple of days. Or if you're the seller, they just pull money out of your account.

 

[tulip]

Very true. I've experienced both sides of it - as the customer and as the seller. They are very good about that. If you have a dispute they take care of it and you are refunded your money within a couple of days. Or if you're the seller, they just pull money out of your account.

I have always wondered, what if it is a huge amount? How do they go about recovering that money when the seller has perhaps used the whole of it? I think it is a good way of protecting the buyer.

 

[Kaitlin]

I think they have some sort of system where they hold on to the money and not release it to the seller until a certain required number of days has passed, or something like that. That's how they protect the buyer.

 

[ritchie]

I think they have some sort of system where they hold on to the money and not release it to the seller until a certain required number of days has passed, or something like that. That's how they protect the buyer.

This makes sense. I think it is a good thing to hold onto the money (sort of in an escrow account) to avoid any cases of fraud/loss of money. Has anyone else used Skrill? How safe is it in comparison to PayPal?