Topic: PayPal

[mycb750k6]

So I've been using PayPal almost since it started. I've had a few accounts over the years but the one I have now is linked to my credit card. Paypal recently informed me that I was near my $10,000 limit before I needed to give them bank info again. It's hard to believe I've put ten grand on my card but more than that I refuse to do it. I hate when people tell me what to do. I don't want to give them bank info. What's wrong with using my credit card??  Anyway anyone ever hear of this. It's certainly going to cut down on my ebay purchases of useless items if I can't use Paypal. I'll probably just stick to buying from parts stores like Z1 and so forth.

[Bob Wessner]

Yes, I encountered it. They want you to either provide access to your bank account info. (never going to happen for them or anyone else) or you apply for one of 'their' credit cards.

[mycb750k6]

Thanks Bob. Why should anyone trust them with bank info. I can live without Paypal.

[switchum]

 I do sort of contract jobs and get paid by paypal often. Paypal has my bank info so that I can transfer the money to my bank account from there.  So far, I have no trouble with them.
 I think that if someone really want to steal electrically,  they can do it regardless how careful I am. So I am kinda taking fatalist approach toward it.
 Well, I have been screwed by credit card companies, a bank and also gotten hot checks before....

[Gordon]

Paypal is notoriously loose with accounting and they're not held to the same standards as banks.  You're at the mercy of their user agreement, which gives them a ridiculous amount of leeway with what they can do with your money, even the money you have in other bank accounts that they have access to.  The worry with paypal isn't about somebody else gaining access to your info and account, it's what paypal themselves can/will do with your money.   

[70CB750]

My problem with paypal is the agressive anti gun policy. Other than that I run it against my bank account for years with no problems ever.

[Bob Wessner]

My statement about accessing my bank account directly was a bit harsh. We do all our banking, including income deposits electronically which of course means some entities have access, but for some reason I was never comfortable doing it for the merchant side of PayPal. Just me as many have, as you have, with no problem.

[mycb750k6]

It's probably true that most people have had no problems with Paypal and likely never will.  And in fact it has made buying eBay parts easier. But I don't know what I would do if I had a problem with them. They don't answer my emails, no phone calls, etc.  If they did something you objected to, I doubt you would have any recourse. Anyway I thought their heavy handed approach in trying to force me into the bank account route was a bit much. Like I said, I can live without them I'm sure.

[FuZZie]

but for some reason I was never comfortable doing it for the merchant side of PayPal

Your right not too Gordon,  for them to take money from your account with out you doing it from your bank (including it's online version) means "power of attorney" to me.

[cb650]

I broke down and signed up last summer.  Is easy for transactions and so far no problems.  I have had a email from "PP" saying they needed to update my info to open a file and fill out the form. Deleted the first one but went ahead and tried the 2nd the next month.  My anti virus blocked it.  When I emailed them from the web site they never replied.

[faux fiddy]

Yeah, they do that. Hate those guys, and yes, they want you to have their credit card or YOUR bank account.  I put up a thread on the bad sellers (I think) when this happened to me.

My suggestion is:

1) ask if you can pay by check or MO. I figure a $.50 cent money order (my cost) is worth screwing PP out of $5. (Kharma is tenfold rule).


2) "lose " your credit card,  call it in lost or stolen, and within next day service a new one arrives at no cost to you.  For real, or just call it in lost and cut it to pieces and deep six the pieces once your new one with a new number arrives. New credit card number means new limit , shop away with the new one until you have to "lose" that one. 

[MoMo]

I broke down and signed up last summer.  Is easy for transactions and so far no problems.  I have had a email from "PP" saying they needed to update my info to open a file and fill out the form. Deleted the first one but went ahead and tried the 2nd the next month.  My anti virus blocked it.  When I emailed them from the web site they never replied.

That was probably a phisher, when you get something from Ebay or Paypal asking for info, do not respond but email it back to spoof@Ebay.co  or spoof@Paypal.com.  They will respond if it is not legit...Larry

[pknopp]

 I sell stuff so my account is linked so I can get any money that is paid me with Paypal out as soon as I can and into my account.
 
 That said, I've not had any problems but I keep a close eye on things and I'd never dismiss your concerns. IMO they are legit.