Lost Over $400

[robalex_58]

I ordered two jackets. Over $400 Canadian dollars. Pressed confirm and pay, and then was hit with an insufficient funds message. The money was quickly withdrawn from my account, but there is no history of purchase nor email confirmation. Thanks ebay.

[pjcdn2005]

That doesn't sound right.  You paid through ebay checkout?  The money was taken from your bank account?   This is just a guess but if there wasn't enough money there and you don't have overdraft it may just show temporarily as withdrawn. Even though everything is electronic and money is taken out instantly, it seems that money is never put back instantly.

[robalex_58]

Yes so I was hoping the money would be put back tomorrow but if it isn't that's going to be a problem. Hopefully this doesn't happen again if I get the money back and try to purchase again.

[reallynicestamps]

If your bank allowed you to overdraw your account, the money will go to the seller and she will ship.

This may take some time, because you wrote an e-check and those have to clear the banking system before the seller receives the payment.

Also with debit cards, you bank does not offer any refund protection on failed transactions.

And most banks have stiff NSF charges on overdrawn accounts.

It is best to back your online purchases (not just on eBay) with a credit card, which is difficult to "overdraw" because the monthly interest will be lower than those bank charges.  If you can also add in a payment processor like Paypal, you have three levels of protection against failed transactions. EBay's 30 day Money Back Guarantee, PP's 180 day  Buyer Protection policy, and the chargeback function of the credit card.