No Its Not the same at all
No! To get complete dispute protection, you need to fund your PayPal payment through a credit card. A debit card is not the same thing at all. Credit cards banks all give you at least 30 days after you have received the statement to dispute any charge on that statement. You can dispute for a variety of reasons, but in the cases we are talking "item not received" or "item received different than represented", work fine. Once you file the dispute, your credit card company holds that amount in suspense while they "contact the merchant". You don't pay interest and if you pay your account in full every month, "in full" is figured without the suspense amount. it is held that way until the dispute is settled.
How your credit card bank notifies PayPal that a dispute has been filed is they yank the disputed $$$ back from PayPal. Now you are not "out" the money and neither is your bank, PayPal is. PayPal now goes to the seller's PayPal account and, if there is enough $$ to cover the dispute, they yank it out, no notice, just zip, gone. If there is not enough $$ to cover, they take out what $$$ is there and close the seller's PayPal account until the seller ponies up the balance. If the seller doesn't pony up Paypal chases them with the nuts like any bank that is owed $$$.
PayPal then doesn't much care how it comes out, they've got their $$ back, your bank doesn't care, they've got their $$ back, and you don't care as you essentially aren't out the $$ until the dispute is cleared and that will only happen when you agree that the seller has satisfied you.
All you guys that are arguing with lazy, incompetent, uncaring or deceitful sellers, please imagine how different your discussions would be if you had both their product and their cash, which is what happens in a credit card merchant dispute, the seller is out both the product and the $$ while the dispute is being discussed.
You don't get any of these protection with a debit card, it's like writing a check except it clears faster.
Kevin
daniel said:
No! To get complete dispute protection, you need to fund your PayPal payment through a credit card. A debit card is not the same thing at all. Credit cards banks all give you at least 30 days after you have received the statement to dispute any charge on that statement. You can dispute for a variety of reasons, but in the cases we are talking "item not received" or "item received different than represented", work fine. Once you file the dispute, your credit card company holds that amount in suspense while they "contact the merchant". You don't pay interest and if you pay your account in full every month, "in full" is figured without the suspense amount. it is held that way until the dispute is settled.
How your credit card bank notifies PayPal that a dispute has been filed is they yank the disputed $$$ back from PayPal. Now you are not "out" the money and neither is your bank, PayPal is. PayPal now goes to the seller's PayPal account and, if there is enough $$ to cover the dispute, they yank it out, no notice, just zip, gone. If there is not enough $$ to cover, they take out what $$$ is there and close the seller's PayPal account until the seller ponies up the balance. If the seller doesn't pony up Paypal chases them with the nuts like any bank that is owed $$$.
PayPal then doesn't much care how it comes out, they've got their $$ back, your bank doesn't care, they've got their $$ back, and you don't care as you essentially aren't out the $$ until the dispute is cleared and that will only happen when you agree that the seller has satisfied you.
All you guys that are arguing with lazy, incompetent, uncaring or deceitful sellers, please imagine how different your discussions would be if you had both their product and their cash, which is what happens in a credit card merchant dispute, the seller is out both the product and the $$ while the dispute is being discussed.
You don't get any of these protection with a debit card, it's like writing a check except it clears faster.
Kevin
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