Sold an item, withdrew money but item does not work

powertron

I have made a massive faux pas. I sold a mobile phone for £59.99, received payment immediately to which I withdrew the money and it has already gone into my bank account.

Now I need to refund the person as the phone clearly does not switch on and I don't have a bank account linked to my paypal account.

My friend said he will send me the money from his paypal account to my one so that I can refund the person.

Does anyone know how much my friend has to send me in order for my paypal balance to be zero after I have given the person a full refund?

My friend plans on sending it to my account as a gift payment, so that I wont have to pay any fees on the sum. Any help would be greatly received.

I can't believe I took out the money without checking the item actually worked! :mad:

missile

If you do a refund then I believe Paypal fees should be zero.

chunkychocky

Look to see how much your PayPal fees were on the transaction. You will get all but 20p refunded when you refund the buyer, so you need to receive £59.99 less PayPal Fees paid, plus 20p into your account.

How did you withdraw the funds to your bank account if you don't have a bank account linked to your PayPal account?

powertron

chunkychocky wrote: »

Look to see how much your PayPal fees were on the transaction. You will get all but 20p refunded when you refund the buyer, so you need to receive £59.99 less PayPal Fees paid, plus 20p into your account.

How did you withdraw the funds to your bank account if you don't have a bank account linked to your PayPal account?

Paypal took £2.24 in fees off the £59.99.

So my friend sends me a gift of £57.75 and that should refund the buyer the full £59.99 leaving me with a zero balance?

chunkychocky

So when you refund the buyer PayPal will refund you 20p short, so they will refund £2.04. So your friend needs to send you £57.95 (assuming that they are going to gift it so that you don't pay fees on their money). This will then leave you with a zero balance.

justjohn

dont think it works like that. you will need 59.99 sent to you ...then refund buyer THEN they will credit the paypal fees

powertron

chunkychocky wrote: »

So when you refund the buyer PayPal will refund you 20p short, so they will refund £2.04. So your friend needs to send you £57.95 (assuming that they are going to gift it so that you don't pay fees on their money). This will then leave you with a zero balance.

I didn't know paypal charged 20p for a refund.

Cheers for the advice, much appreciated.

Been one helluva depressing day, pretty much lost £60 and now looking at £8.00 in fees down the flusher.

chunkychocky

justjohn wrote: »

dont think it works like that. you will need 59.99 sent to you ...then refund buyer THEN they will credit the paypal fees

Maybe it just looks like it works like that for mine since I always have funds in my account then. I just know that they always keep 20p of their transaction fees now, which they didn't used to do.

justjohn

chunkychocky wrote: »

Maybe it just looks like it works like that for mine since I always have funds in my account then. I just know that they always keep 20p of their transaction fees now, which they didn't used to do.

it does work like that , but refund and fee refund is sequential

powertron

justjohn wrote: »

dont think it works like that. you will need 59.99 sent to you ...then refund buyer THEN they will credit the paypal fees

That would leave me with £2.24 in my account which I wont be able to withdraw.

Is there a paypal withdrawal limit?

As I want my account balance to be zero as I plan on taking a very long ebay break.

barmonkey

if you havnt got a bank account linked to your account how were you able to draw the money into your bank ?