PayPal verification?

[enrare]

Thought I'd get some opinions on PayPal verification since I use PayPal for purchased here and Ebay. Seems I have hit the $2000 limit and now I appearently can no longer use PayPal until I verifiy my status by linking my PayPal account with my bank checking account. Up to now my Paypal account has been linked to a credit card that I only use for internet purchases and have low limits set in case the credit card info gets into the wrong hands. I feel uncomfortable linking my PayPal account to my banking account. It seems like you hear all the time how big buisness databases get hacked by cyber criminals and how everyones personal account info is then compromised, etc. Maybe I'm being over paranoid

 

[trbomax]

Does this happen with a credit bal or a debt bal? The credit card I use is also a debit card,so I can just pull cash out whenever.

 

[NUTTSGT]

It seems that I hear more and more people complaining about paypal. This is the second thread about them in two weeks I believe. I need to close my acct as none of the numbers they have are even valid anymore. I wish more people would just tell them to take a hike right along with their big brother ebay.

 

[rslaback]

It's 2013. You're fine. Link it.

 

[Stuart in MN]

I set up a second bank account to use for online purchases through Paypal with a minimum amount of money in it. I was able to do it online at my bank's website, it took about five minutes to set it up.

 

[NUTTSGT]

It's 2013. You're fine. Link it.

Yep, it's 2013 and the hackers are getting better. In the last two years, I've had two new CC issued to replace hacked information or stolen numbers. I didn't lose anything except my time for the hassle. I prefer to put as little of my financial information out there as possible.

 

[wornoutoldman]

I set up a second bank account to use for online purchases through Paypal with a minimum amount of money in it. I was able to do it online at my bank's website, it took about five minutes to set it up.

^^^ Yep and when someone pays me I immediately transfer the funds from paypal into that bank account and withdraw the cash asap!

 

[ezriderga]

I have my Paypal account linked to a bank account and I only keep a $25 balance. This is not my primary bank account. Different bank ( actually credit union ) and I pay no fees.

 

[Rodhotz]

Who said you hit the limit? did you get a email from pp? i would not do anything until you call them and verify that any correspondence is from them not some scammer. As stated if true start a new account and use it for nothing but pp as if for any reason they need to do a charge back you can cancel it and not have them tie up your money while you fight with them.

 

[gahrajmahal]

Absolutely open a separate bank account. If you give them your regular checking account they can lock it down if there is any problem, like one of your buyers using a stolen credit card to pay for something. PayPal is not a bank and as such does not have to follow any of the regular banking rules. Your regular bank will be familiar with this and it will be relatively painless.

 

[rslaback]

Yep, it's 2013 and the hackers are getting better. In the last two years, I've had two new CC issued to replace hacked information or stolen numbers. I didn't lose anything except my time for the hassle. I prefer to put as little of my financial information out there as possible.

Time to start hiding your money under the mattress again. Banks and credit card companies could get hacked too.

 

[c39er]

When I hit $10,000 with my CC used for ebay purchases only over 10 years... PP now demands I link a bank account. I won't do it- not even a new low balance acct as a bank will charge a low balance monthly fee and PP can still lock it down. PP makes millions on accounts that are in litigation every month. PP and Elea Bay seem to be getting really greedy.
PP wants everyone to do it now at $2000.00 limits? It's BS IMO.

 

[Bib Overalls]

Had a scammer offer to pay $72,000 for a car with a "safe and secure" PayPal transaction. Have not figured out how the scam works but it was definitely a scam.

 

[sxk122]

Same boat. I linked it to an account I was able to open with a local bank for free with no fees and no minimum balance. I keep next to no money in it, and manually select the credit card option for every transaction. I do it that way so if there ever is a problem, I can dispute the transaction with my credit card company, who is ALOT easier to deal with that paypal....

 

[enrare]

Thanks for all the advise. For $50 a local credit union offers a no fee, no min balace, etc checking account. I'll just have to remember to make sure and select the credit card payment option with future PayPal purchases so they don't try and take payment out of the checking account.

 

[Twiggss]

2nd bank account.

and yes the $2000 limit is real to the tin foil hat wearer.

 

[Super Sport]

I've had my Paypal account linked to my primary bank account for probably the last 5 years and over 1000 transactions...not a single complaint or problem here. I'd have no problem doing it again.

Personally, I don't even have any real complaints with Paypal. Their fees are reasonable, they protect me as a buyer, and they help keep my transactions with third party websites secure. Ebay on the other hand...

 

[koditten]

I think this is one of those things that go against all we work for.

So, you spent $10,000 in their money, paid it back in good faith and on time. You normally expect to be rewarded by a finance company by letting you barrow more money. PayPal is the opposite. You feel like you are being punished for following the rules. You can barrow more money, but with more rules. This is what I think bothers us the most. Just thinking out loud here.

PayPal works, but with some strings attached. What are you gonna do?


KO

 

[c39er]

Yep, Give em your'e private financial info (let them insert 8 cents and pull it out of a bank account) and then they will let you participate in PP finacial services. I suspect they will somehow make it difficult to use a CC or pay as a guest in the future.

 

[fflintstone]

I got the same request two months ago.
I went back to checking out as a guest.
after my last bad Ebay purchase, i just stoped buying ****.

 

[mmack66]

I've had my Paypal account linked to my primary bank account for probably the last 5 years and over 1000 transactions...not a single complaint or problem here. I'd have no problem doing it again.

Personally, I don't even have any real complaints with Paypal. Their fees are reasonable, they protect me as a buyer, and they help keep my transactions with third party websites secure. Ebay on the other hand...

Same here, except I've had my account longer.

 

[mmack66]

I think this is one of those things that go against all we work for.

So, you spent $10,000 in their money, paid it back in good faith and on time. You normally expect to be rewarded by a finance company by letting you barrow more money. PayPal is the opposite. You feel like you are being punished for following the rules. You can barrow more money, but with more rules. This is what I think bothers us the most. Just thinking out loud here.

PayPal works, but with some strings attached. What are you gonna do?


KO

What are you talking about? You use your own money with PayPal and there is no borrowing or paying back, unless you have their credit card, which is a different issue altogether.

 

[Travisnd]

I've been using Paypal for over 10 years now with NO issues. I think most of the issues people have is not knowing how to use Paypal correctly.

 

[enrare]

Just got back from setting up the free checking/savings account at the credit union. Now I need to get "verified" with PayPal and hopefully all will be fine. I really didn't understood the whole "verified member" thing years back when I first started using PayPal, but whatever the case yesterday when I tried to purchase some tool parts from an internet site and also a item I have been watching for awhile on Ebay, payment was declined and would not go thru when I tried Paypal payment option and I was directed to my paypal account. I had to use the credit card payment option in both cases. Guess I didn't think about trying as a guest for the purchases.

I don't mind using PayPal and think that it does to some extent make online purchases safer since you are not giving your credit card info to every place or person you make a purchase from, plus I like not having to go thru and fill out all those check-out screens for shipping and billing info. My only concern is giving paypal my primary checking/savings account info and if their computer system every got hacked and compromised by cyber-thugs.

 

[c39er]

Once most everone is signed up and verified PP will say sorry to annonce this but due to so many verified customers we now are forced to charge a 2-1/2% fee on every single verified customer transaction. Sorry for this inconvenience PP customer!

 

[Koy E]

I linked my account with PP about 4 years ago mainly because of my EBay account. I haven't had a problem.

 

[ihateimacs]

Just think about how many people try to scam others, they are just trying to protect themselves. I dont mind linking accounts, Anytime I have had an issue it was resolved.

 

[01ssreda4]

I have 600+ paypal transactions and not any issues.

 

[BillK]

Enrare,
I have been verified since the first time I signed up with pay -pal. I dont see what the big deal is personally. If you dont feel real comfortable about it, open a free checking account somewhere and just keep a minimum balance in it for Pay-Pal and other online stuff.

Oh by the way ..... you don't have to use Pay-Pal if you don't want to. If you don't like their policies, then stop using them.

 

[JimVonBaden]

I average around 5000 Paypal transactions a year. I have had not one issue with Paypal. I have had only two issues with other Paypal users.

I pay the 2% and write it off as a business expense.

Jim

 

[tolken4]

After you are done complaining about paypal, do what everyone else does and do whatever it is they ask you to do. Complaining about paypal is like complaining about the DMV or Walmart... Everyone does it and then everyone goes and uses their services. Not much else to do unfortunately.

Never could figure out why Google or amazon never got into that market. Seems like most folks would jump ship in a heart beat if a fair alternative that was big enough to make a go of it would enter the fray.

 

[rednecklimo85]

I just found out my bank card had been compromised when AT&T(which I'm not a customer of) charged my checking account for 246.05. I should be getting all the money back but its still a hassle. I try to keep the balance in my checking account to a minimum for this reason, and it locked up my account due to insufficient funds. Have to have a new card issued etc. There's only one website I can think of that it happened, and I think I'll be using prepaid visa cards from now on for odd ball purchase's. No way to draw money out of them if its not there, and if it does get compromised just destroy it and get another.

 

[mmack66]

After you are done complaining about paypal, do what everyone else does and do whatever it is they ask you to do. Complaining about paypal is like complaining about the DMV or Walmart... Everyone does it and then everyone goes and uses their services. Not much else to do unfortunately.

Never could figure out why Google or amazon never got into that market. Seems like most folks would jump ship in a heart beat if a fair alternative that was big enough to make a go of it would enter the fray.

Google and Amazon are in that market. Google has Google Checkout, that I have used on occasion, and Amazon has Amazon Payments, which I have never used.

I doubt that either one operates much differently than PayPal.

 

[volaredon]

Yep, it's 2013 and the hackers are getting better. I prefer to put as little of my financial information out there as possible.

Yup ^^^ THIS^^^^

 

[premierplayer]

PP verified for over 10 years, no issues. I don't like the fees but whatcha gona do?
Brain damaged buyers and sellers are my grief.

 

[nehog]

Absolutely open a separate bank account. If you give them your regular checking account they can lock it down if there is any problem...

There is a lot of information of questionable veracity in this thread...

1. PayPal cannot and will not withdraw anything from your account without your express approval. Period. This has gone to court (years ago) and been resolved.

2. PayPal can't lock down your checking account. No way, no how. They can lock your PayPal account, but that's a given.

3. A separate account for PayPal does nothing. See #1 above. Were #1 not true regardless of what was in the account you'd just end up with an overdraft (with the attendant fees and interest to boot.)

4. We've been using PayPal for many years (almost since they started.) We've had a couple of claims. PayPal locks the amount of the claim (again, another court case established the rules for this) and no more. If there is no money in your account, then they either lock when more money in your PayPal account becomes available or they go to collection (only if they find for the other party.) PayPal has resolved ALL of our cases in our favor. The longest we've had to wait for a payment was about a week or so (buyer claimed they'd been hacked, but since we shipped to their address PayPal said: "bogus" and gave us the money.)

You DO NOT need a PayPal account to buy on eBay. You can pay with a credit card (still processed by PayPal but that's not an issue.) If you sell on eBay you must either have a PayPal account, an account with an approved electronic payments processor, or a merchant credit card account with proper online payments processing.

There have been few problems with PayPal (or eBay) over the last ten years. They both have cleaned up their acts greatly (mostly because the courts forced them to) and the few you see today are often times just fraud cases where the scammer things or hopes to get his way.

 

[bazzateer]

I set up a second bank account to use for online purchases through Paypal with a minimum amount of money in it. I was able to do it online at my bank's website, it took about five minutes to set it up.

This

 

[nehog]

This

Why? No advantages.

 

[Stuart in MN]

Why? No advantages.

No disadvantages either. It made me feel better to do it.

 

[c39er]

I've had a PP credit card account for 10 years no link and non-verified for use on Ebay. Never an issue.