Paypal, owned by eBay, is a great way to send payments for eBay items or any item purchased over the internet. In a matter of minutes, you can send payments around the world. However, Paypal also has its fair share of critics and members who disagree with its policies and agreements, especially when a decision goes against the complaining member or they miss the online fraud.
With PayPal, you can choose to pay for your item or service in a number of ways. The most popular method is to use whatever balance you have in your PayPal account. This is created by other members who send you eBay payment or other items. Alternatively, once you have registered your bank account and any debit or credit cards with PayPal, you can choose to pay for the items using these options.
The safest way for members to pay for items with Paypal is by registering a credit card and financing all payments through it. Because paying by credit card usually offers an additional level of protection in case things go wrong.
In most countries, credit card companies are fully or partially responsible in the event that something goes wrong with a transaction and will actively get involved to resolve any issues or make a full chargeback, placing the funds back in your account. Even if you get into a dispute with PayPal and lose, you can still involve your credit card company to dispute any transaction.
However, PayPal does not make it easy for you to finance a payment with a credit card if you already have an account balance. Payments are normally financed first with the PayPal balance and then from a backup source (bank account or credit card) if the funds are not sufficient to pay for the entire purchase.
To pay for a full purchase, through your credit card, you must pay off any balance. You can do this by sending the payment to an email address that does not exist, or to an email address owned but not registered with PayPal.
As soon as you do this, your balance will be empty, and you can now choose a financing option such as a credit card. In the meantime, PayPal will have sent an email to the non-existent or altered email address informing them that they have a pending payment and how to open a PayPal account.
Now that your payment is complete, all you need to do is log back into your PayPal account, find the transaction on the non-existent email address, and click cancel. Your payment will revert to your account as it will not have been claimed.
Paypal is great to use and a brilliant resource, but it always helps to have a little more level of protection when buying things online.