I recently bought something on eBay and found out that the product was illegitimate and not what the auction had stated. Luckily, the product was only several dollars and I filled a Dispute with Paypal. Anyway, my question is, if the seller has already deposited the money into his bank account is there any way that I can receive that amount back? I noticed that it does apply for Buyer Protection, so hopefully I will get the money back, but what are the legalites of not paying back money? If this were a larger sum of money, outside of Paypal's $1,000 Umbrella of protection, would I be able to take legal action?
If you are covered by the Buyers Protection you should be able to get your money back. The problem arrises when the person (like you said) withdraws the money from his/her account. Although (not 100% sure) I was under the assumption Paypal/eBay would take responsibility in refunding the money if you were covered by the Buyers Protection.
I sure hope that is correct, as I have assummed that for the last years.. while selling a few Mac Minis, PC computers, PS2 games etc. I didn't have a chargeback or anything.. but felt comfortable with the Buyers Protection. I never sell to unverified users.
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