PayPal ripped me off for $950. I sell watches through eBay (which owns PayPal). A registered bidder put in a winning bid and used a credit card through PayPal.
PayPal handled the transaction and notified me that a payment had been made to me by a verified buyer. I transferred the money to my account and sent out the watch to the verified address that they gave me, per their instructions.
Ten days later, I got an e-mail that they suspect "fraudulent funds," meaning a stolen credit card, was used. I am not the one who took the credit card - PayPal did. This is their responsibility, not mine. I told them I would be glad to return their money when they returned my watch. They also charged me about $30 to handle this transaction. What is this fee for, if not to insure the transaction?
It seems like you have to hold back the merchandise from shipping for two weeks, to be sure that they will not take their money back.
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