You cannot dispute through PayPal's own dispute process, however, you can still chargeback via bank ACH and a Credit Card.
So, this new policy applies ONLY to PayPal initiated DISPUTES.
Very true, however they can claw back the funds from your account if there is an existing balance or put you in negative balance or shut down your account (this is all in their terms). You can dispute using your methods only if the purchase was made directly and fully with credit card or instant transfer from bank and not from pre-existing funds. Also credit cards and banks can decline any dispute. "Currency equivalent" disputes don't always succeed as they aren't always easy to prove as is a purchase of a physical item. The seller can simply say "not true because the BUYER is trying to scam me." With "cash equivalent" purchases it's just not that easy to successfully dispute through a bank or credit card.
