Do I still get PayPal Purchase Protection when I choose Pay Monthly?
Yes. PayPal Purchase Protection applies to eligible purchases made with Pay Monthly. If you don't receive your item or it's significantly not as described, you may qualify for Purchase Protection, and we'll reimburse you for the full purchase price plus any original shipping costs, subject to terms and limitations.
I have opened a dispute, do I still need to make repayments?
Yes. You must continue making repayments when due while we investigate your dispute.
I filed a chargeback with my bank and it was closed in my favor. Why do I still owe money on my Pay Monthly loan?
When you complete a purchase using Pay Monthly, PayPal, on behalf of WebBank, pays the merchant the full amount of the purchase and collects payments monthly from your payment method of choice over time totaling the amount of the purchase plus interest according to the terms of your Pay Monthly loan. When you took out the installment loan from PayPal, you agreed to pay PayPal back the amount of the loan in full.
When you open a chargeback with your bank or financial institution on a repayment made to your PayPal Pay Monthly loan, PayPal returns the funds to your bank or financial institution. This removes the completed repayment from your loan and will cause your Pay Monthly loan to become past-due as there no longer is a completed repayment.
If there is an issue with the item ordered, you will want to follow the steps for opening a dispute through PayPal on the full payment that your merchant received (not individual repayments to your loan).
Here is how to open a dispute through PayPal:
- Go to the Resolution Center and click Report a Problem.
- Select the original payment to the merchant and click Continue.
- Select the reason for your dispute, such as:
- Issues with your purchase
- Issues with the seller
- Billing errors or Issues with subscriptions
- Unauthorized activity in your PayPal account
- Select the option that best describes the issue you're facing and click Continue.