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QSIMDO
03-13-2011, 04:17 PM
Are you guys comfortable with "verifying" your account with PayPal and giving them your bank account info?

Tried to buy some material off eBay today and they said I reached a $2k limit and had to pony up my bank account info to continue!

I don't even like my bank having that info!

NOW what?

Alistair Hosie
03-13-2011, 04:23 PM
Watch it's not a scam I have been asked for my info often and when contacted paypal they new nothing about it.Please be careful contact them yourself. Alistair

squirrel
03-13-2011, 04:38 PM
A couple of months ago my Credit Card was hacked, they purchased XBox 360 points and online delivery video games. I called Microsoft XBox live and spoke with their peson regarding the charge and they asked if we had a PayPal account, they said every one calling in with a fraud charge with the exception of 1 person had their card on file with paypal!!!! Its hard to point fingers but its hard to ignore that one. We shut down paypal for all sales on eBay and only take credit cards using Authorize.net gateway. Buyers are much happier doing it that way instead of that PayPal nonsense. If you do give up your information make sure the url begins with HTTPS not HTTP, scammers are EXTREMELY crafty. Only enter paypal (www.paypal.com) from your URL bar on the browser, do not use a google search type bar.

Black_Moons
03-13-2011, 04:51 PM
Yea they droped the limit. Used to be like 20k.
However do NOT register a bank (debit) card
register/verify a CREDIT card.

They (credit card companys) can screw paypal harder then paypal can screw you.

Tony Ennis
03-13-2011, 05:19 PM
We opened a paypal-only bank account and keep it fed just enough. New accounts are free.

70Chrgr
03-13-2011, 05:20 PM
I remember being told I had to "verify" my account at the $2k limit about 4 years ago. My memory is hazy, but I think I boycotted paypal for about a year, tried it one day and it worked. I think the $2k limit might be per year, or at least it used to be

I may have registered a new credit card, but I'm sure I never gave out a bank acct. number.

I dont see any reason a company needs a bank account number, thats why I have a credit card.

And Black_Moons has it right, always use a credit card online. its a risk to your credit but if the number gets stolen its the "banks" money that gets spent, not yours.

mike os
03-13-2011, 05:25 PM
once you reach the 2k limit you have to use a mainland bank account to verify..( something to do with international money laundering laws). they send a couple of small deposits ( like cents) to the account and ask you to enter the amounts in your paypal account. Thats then it, you can delete the bank account details.

Only access this directly from your paypal acc, dont follow external/email links.... go to paypal.com/co.uk/ whatever your usual PP address is.... not a link or favourite. IIRC once you log into your acc you will get a page telling you what you need to do... just follow the instructions.

no big deal... once you hit 2k you have to do it.

Nothing to do with the credit card you use, it is the PP account.... you can always register again with a new username & card details....till you hit 2k

Black_Moons
03-13-2011, 05:25 PM
Tony Ennis: New accounts are free, Multiple overdraft fees from paypal suddenly withdrawling from your account (With multiple retrys on failure) with no warning is not.

Paypal switched 'default payment' from CC to bank account awhile ago... Without telling me... And mentioned it was 'Instant payment!'

Turns out, it was not only not instant, but tells the seller EXPLICITLY to wait up to 5 (or was it 7?) days untill the funds list as 'Cleared' and I had to rush down to the bank to put money into my account as I did'nt have enough in there.

Also, if fraud happens, And paypal withdrawls from your bank account (Even into a negative balance overdraft fees/bounced withdrawl fees and messes with your credit rating).. Your bank will basicly say 'Tough luck, You fully authorized paypal to make any withdrawls they wish by giving them your bank account info, Its not fraud'

Your credit card company will say "We are reverseing the charges now and our ninjas have been dispatched to paypal on a mission to smite the fraudster, Can we do anything else for you today?"

PS: My bank charged me something like $2 to accept the pennys paypal sent me to verify my bank account before I ended up REMOVING my bank account from paypal due to thier BS.

QSIMDO
03-13-2011, 05:28 PM
Right.
Even though I was absolutely on PayPal's site I have NO inclination to give my bank info to anyone!

Seems to me sterner places than PayPal have been hacked.

I sent the seller a message so I'll probably hear tomorrow.

squirrel
03-13-2011, 05:53 PM
Something else to consider when paying for an item, never use your paypal balance or direct transfer from your checking to fund a purchase. Your paypal must be at zero balance BEFORE they let you chose payment by credit card. Always use your credit card as a funding source, and do not bulk pay for items, pay for each item individually.

The reason for doing this is your credit card provides better protection against fraud than paypal does. If the seller gives you the dry corn cob go back to your credit card and do a charge back because paypal/ebay buyer protection is a SUBJECTIVE DETERMINATION and not always in your best interest. All of my purchases paid with paypal are funded with an AMEX card!!! I also put the screws to paypal because the AMEX transaction fees are almost double Visa/MC card fees.

Jaakko Fagerlund
03-13-2011, 05:59 PM
I don'y know how your bank accounts work, but I can post all my account information and you would not be able to do anything with them apart from sending me money :) All I have to keep to myself is the online banking login name, password and the one time pad used in login procedure. The only way to get money is through my card (VISA Electron) and only a certain amount per day (which I can control).

And that 2k limit is per year, I stumbled upon it one day, verified my information with PayPal and haven't had a glitch ever since :)

Dr Stan
03-13-2011, 06:12 PM
I quit using PayPal for this very reason several years ago. They kept insisting it you make my account safer if I gave them my information. What a pile of BS.

vpt
03-13-2011, 06:15 PM
Yeah, paypal is junk.

becksmachine
03-13-2011, 06:19 PM
I have so far refused to give PayPal access to my bank account. Don't know if that will continue. Last time I checked, the 2 options were to give them account access or apply for a PayPal charge card.

It seems to me that $10,000.00 (my credit limit before needing verification) should have been enough to establish a credit rating??

So far I have been able to negotiate with any sellers on ebay to use an alternate form of payment.

Dave

aboard_epsilon
03-13-2011, 06:52 PM
Something else to consider when paying for an item, never use your paypal balance or direct transfer from your checking to fund a purchase. Your paypal must be at zero balance BEFORE they let you chose payment by credit card. Always use your credit card as a funding source, and do not bulk pay for items, pay for each item individually.

The reason for doing this is your credit card provides better protection against fraud than paypal does. If the seller gives you the dry corn cob go back to your credit card and do a charge back because paypal/ebay buyer protection is a SUBJECTIVE DETERMINATION and not always in your best interest. All of my purchases paid with paypal are funded with an AMEX card!!! I also put the screws to paypal because the AMEX transaction fees are almost double Visa/MC card fees.

I'm not getting at you squirrel, you seem well savvy.

but

Mine is set up ..to pay, all i have to do is put in my pass word and user name ..

for everyone else..
there is more risk from tapping in credit card numbers into your computer ..because you never know if you've been hacked.

I put my bank account details and numbers for paypal into the computer many years ago on a different long gone now destroyed hard drive..

and haven't used any card numbers since.

Every time i and make a purchase via ebay ..after i log out..i delete all cookies temp files ..the lot

I see loads of people using their credit card / debit cards, on computers that are really slow because their computer has been spy-wared or other such things ..possibly hacked as well..and warn them ..they take no notice, say the sites are safe ..but don't believe me ..its not the sites its their computers that are not safe.

almost everyone i know has slow computers ..extra tool bars they didn't ask for..extra progs running they do not know about...viurus / spy-ware definitions that are not updated.

if you have any of the above ..do not put you're credit card numbers into your computer

btw ..i dont know if this will help security ..if you put your password on a floppy ..then copy and paste them in ..perhaps a hackers keystroke hack will not pick stuff up .

all the best.markj

Black_Moons
03-13-2011, 06:54 PM
becksmachine: Yea I USED to have 10,000 limit, they droped it to $2000 I believe... At one point I got a warning that when buying a $70 item, It would put me over the $10,000 sending limit, as I had sent $3000 through paypal so far. Seems to me the math is a little.. wrong. By about $6,930.
Tryed again and it went through, but 3 weeks later it gave me the same error except said my limit was $2,000. Jerkwads. Ending up paying the seller direct by CC because it would take awhile to verify via CC.

PixMan
03-13-2011, 07:32 PM
I guess I'm all alone then. I've had both an Ebay account and a PayPal account for at least 10 years now, and the PayPal account is linked to my bank account. I have never had PayPal ask for anything except a small portion of the transaction. I have never lost any money from my PayPal account nor my bank account.

No problems to report. Sorry.

JoeLee
03-13-2011, 07:56 PM
I think everyone has gone through the same thing with PP. Also I think the 2K limit is per year. I had to verify by adding a bank account, unfortunatly at the time it was my main checking account. I never had an serious problems other than forgetting to choose "more funding options" in which then they pull the funds from your checking account. It screws you up sometimes. So what I did was removed that account from PP and opened up a bank account at a small local bank that has no minimum balance and no fees and I linked that one to PP for verification. Now..... if I shold forget to choose more funding options or something else happens there is only $5 in the dummy account so I can't get screwed by them and it automatically will default to the credit card.

JL....................

squirrel
03-13-2011, 08:10 PM
becksmachine: Yea I USED to have 10,000 limit, they droped it to $2000 I believe... At one point I got a warning that when buying a $70 item, It would put me over the $10,000 sending limit, as I had sent $3000 through paypal so far. Seems to me the math is a little.. wrong. By about $6,930.
Tryed again and it went through, but 3 weeks later it gave me the same error except said my limit was $2,000. Jerkwads. Ending up paying the seller direct by CC because it would take awhile to verify via CC.
I don't understand the limit you mention, is that a limit on funds recieved or funds sent. Since you are not in the USA it might be compliance of Canadian law issue. We don't have any limit on spending or receiving funds in the USA.

jep24601
03-13-2011, 08:11 PM
I got the paypal credit card to avoid giving them my bank account info.

squirrel
03-13-2011, 08:26 PM
Mine is set up ..to pay, all i have to do is put in my pass word and user name ..

for everyone else..
there is more risk from tapping in credit card numbers into your computer ..because you never know if you've been hacked.





Typing in your password and username is no different than entering your card number, a sniffer will grab anything. At least when they hack your card the money is not depleted from your checking account like it would be with your paypal. A cyber crook only needs your email address and password to log into your paypal account and send money to a seller and both you and the seller will be out of the money. They just request the item be shipped to their great auntie that is dying in a third world country. Most ebay sellers are terrified of getting bad feedback ratings so they just ship it and hope for the best.

Black_Moons
03-13-2011, 08:52 PM
Now..... if I shold forget to choose more funding options or something else happens there is only $5 in the dummy account so I can't get screwed by them and it automatically will default to the credit card.

JL....................

Its not 2k per year because I have not spent 2k this year and still got hit with there 2k limit bull. (was buying item from someone else)

Second, If they try to overwithdrawl your account, im pertty sure you get hit with overdrawn fees, and it may even appear on your credit record, Similar to a bounced cheque. And iv heard of paypal retrying the transaction too... Causing more fees.

And again, you can 'verify' with a credit card. do NOT link a bank account with paypal at ALL! they offer basicly 0 protection from whatever paypal trys to do, and the bank might even be able to go after you for overdrawn accounts if you have an overdraft on the account, So 0 money bank account may not be a protection, Just a liability.

becksmachine
03-13-2011, 09:23 PM
I don't understand the limit you mention, is that a limit on funds recieved or funds sent. Since you are not in the USA it might be compliance of Canadian law issue. We don't have any limit on spending or receiving funds in the USA.

As I understand it, in my case the limit is on funds sent to pay for items purchased by me, and it is a lifetime limit, not monthly or annual, that can only be overcome by "verifying". In other words, since I have reached that limit I will never be able to use PP again until I do get "verified" by some means.

Which is why the whole situation is so mystifying to me. First they volunteer a large "credit limit" and then after a proven track record using that limit they decide to add more requirements.

Dave

loose nut
03-13-2011, 09:28 PM
There is another choice.

Use a prepaid credit card, I have one that I use for online purchases. If something I,m going to buy costs $100 then that is what I have loaded onto the card. If the card is hacked there isn't any money to steal. It isn't as conveniant as a regular card but it is safer.

squirrel
03-13-2011, 09:31 PM
Okay, that is how the lever you into signing up and disclosing all your information. They did that back during their start up as x.com and were hard up for people to try it out but rather apprehensive about disclosing information, if they user felt secure after using it a few times they would eventually give away all their information.

squirrel
03-13-2011, 09:32 PM
There is another choice.

Use a prepaid credit card, I have one that I use for online purchases. If something I,m going to buy costs $100 then that is what I have loaded onto the card. If the card is hacked there isn't any money to steal. It isn't as conveniant as a regular card but it is safer.
Yes, that is an EXCELLENT way to do it.

CCWKen
03-13-2011, 09:41 PM
Cut through all the BS here and go straight to the sorce. :rolleyes:

https://cms.paypal.com/cgi-bin/marketingweb?cmd=_render-content&content_ID=security/verification_faq#id4_header

Willy
03-13-2011, 09:57 PM
I guess I'm all alone then. I've had both an Ebay account and a PayPal account for at least 10 years now, and the PayPal account is linked to my bank account. I have never had PayPal ask for anything except a small portion of the transaction. I have never lost any money from my PayPal account nor my bank account.

No problems to report. Sorry.

X 2
Mine is linked to a credit card, but other that that, ditto.
Not one issue.

squirrel
03-13-2011, 10:02 PM
Cut through all the BS here and go straight to the sorce. :rolleyes:

https://cms.paypal.com/cgi-bin/marketingweb?cmd=_render-content&content_ID=security/verification_faq#id4_header
That was just too easy.

Paypal does not have their facts straight:

"Verification increases the overall security of the PayPal network because most buyers prefer to do business with Verified sellers."

That's a line of BS, we had paypal AND authorize.net gateway on simultaneously and over 75% of the time given the option they picked the card gateway!! I did not want to alienate buyers by shutting off paypal and with that type of response when buyers are free to pick either service the choice becomes clear..... I now fly the single digit toward paypal headquarters.

lakeside53
03-13-2011, 11:15 PM
Right.
Even though I was absolutely on PayPal's site I have NO inclination to give my bank info to anyone!


If send anyone a check, you are giving them your bank acount info...

squirrel
03-13-2011, 11:51 PM
Thats a good point, at least you already have a list of suspects if one of them decides to copy the check.

Black_Moons
03-14-2011, 12:18 AM
If send anyone a check, you are giving them your bank acount info...

Not only that, But the info required to LINK a bank account to paypal... is the numbers on the bottom of every cheque you have. Up to $2000 sending limit apparently, before any real access to the account is verifyed.

Ie, the only thing I needed to withdrawl money from my bank account into paypal, was the numbers at the bottom of ANY of my cheques..
Not only that, but I asked the bank about it, and they said whatever paypal withdrew was 'legal' and not 'fraud' at that point, reguradless what I considered, because I had 'given' them my bank account numbers, And hence authorized them to make withdrawls, Even if someone stole my paypal account and withdrawled my money, or paypal itself withdrew money to cover someone else fraud, or suspected fraud, etc.

THIS is why you don't link a bank account to paypal, 0 protection! Something happens, its your fault for authorizing them. All you can do is block future withdrawls from paypal. Credit cards require authorization PER payment! Even if they retain your details on file, Any charge can be disputed as fraud by you, And from what I have heard, Credit companys nearly allways side with the card holder, Not the charging company, because its the credit card companys money thats out if you don't pay your bill. With the banks, Its your money and theres no bill for them to pay, so why would they care about keeping you as a customer or getting YOUR money back.

PS: For 3 months I once got cheques with my bank statement WITHOUT MY NAME ON THEM ANYWHERE.. Yet withdrawled from my account...
Apparently someone got a hold of cheques from 'the wrong branch' or some bull like that, and because the numberes where my numbers, they just paid people outta my account for 3 months (I complained each time I got my monthly statement to them, and eventualy getting a full refund, And it took em 3 months to 'straighten it out' after I said it either stops now, gimme a new number if you have to, arrest the other dude for fraud or something, or im going to a new bank)

squirrel
03-14-2011, 01:05 AM
Credit companys nearly allways side with the card holder, Not the charging company, because its the credit card companys money thats out if you don't pay your bill.


Not always, all our major transactions losses as a seller have been attributed to PayPal(eBay). In the last 12 years 2 bad checks and both were made good and they paid our bank fees. With credit cards 3 chargebacks and 2 of those were fraud attempts and were stopped, 1 was a loss( no delivery confirmation our fault).

When they pull crap with a credit card it becomes a felony when they lie about it. Card companies WILL NOT process the refund until the card holder signs an Affidavit stating their claim. If they claim non delivery and we have signed delivery confirmation they are violating the law. This is why paypal is a license to steal, paypal is not regulated by law like the card companies.

Another point with paypal, that is the ONLY way you can take online payments WITHOUT a credit rating, how safe is that. All merchant credit card account holders are legal entities with a credit rating and subject to credit report monitoring.

Black Forest
03-14-2011, 01:33 AM
I use PayPal all the time. It is linked to my bank account. No problems.

As for bank info. I don't have a checking account. We do all bank transfers.

As for German bank rules, I like them! The equivalent of the IRS took 6000 Euro's out of my account last week. I called my bank and told them to take it back. Presto it was back in my account. Then I called my accountant and told him to sort it out.

mike4
03-14-2011, 02:43 AM
Yea they droped the limit. Used to be like 20k.
However do NOT register a bank (debit) card
register/verify a CREDIT card.

They (credit card companys) can screw paypal harder then paypal can screw you.
Paypal have often asked for my bank details and I just keep telling them to charge my Mastercard, which is one that I specifically got for internet purchases.
Michael

cuemaker
03-14-2011, 08:46 AM
I guess I'm all alone then. I've had both an Ebay account and a PayPal account for at least 10 years now, and the PayPal account is linked to my bank account. I have never had PayPal ask for anything except a small portion of the transaction. I have never lost any money from my PayPal account nor my bank account.

No problems to report. Sorry.


Same here.. except I tied my paypal to a savings account that has very little in it... When we sell something, we transefer it to the savings account, then into our checking account... Otherwise, anything we buy we either transfer from checking into the savings, then into paypal, or use a credit card...No issues yet for at least 5yrs

aboard_epsilon
03-14-2011, 09:16 AM
all this via online bank accounts transfering etc ..typing numbers and names into your computer is the weak link.

all the best.markj

mike os
03-14-2011, 09:19 AM
If PP is linked to your bank... it is already verified, thats what they need when you hit the 2k limit.

Once verified you can remove teh account from PP so they can no longer access it

jep24601
03-14-2011, 09:37 AM
If PP is linked to your bank... it is already verified, thats what they need when you hit the 2k limit.

Once verified you can remove teh account from PP so they can no longer access it
Didn't work for me when I did that. Removed the bank account and bingo - now I'm not verified again.

squirrel
03-14-2011, 09:44 AM
If PP is linked to your bank... it is already verified, thats what they need when you hit the 2k limit.

Once verified you can remove teh account from PP so they can no longer access it
Please tell me how you did it, I have not found the correct link on their site.

rkepler
03-14-2011, 09:48 AM
My bank allows me to create new accounts pretty easily - so I created one with $25 in it just for the paypal verification. I've checked with the bank that nothing and no one can move money into that account but me, and that there is no way someone with a legit looking transfer from that account can demand satisfaction from any other account. I've also 'accidentally' approved payments where the amount exceeded that in the account and paypal takes from the CC that I usually use for payment just to verify that it works the way I want.

So: so far so good.

mike os
03-14-2011, 10:24 AM
Please tell me how you did it, I have not found the correct link on their site.

under the profile menu...add/remove bank acc

squirrel
03-14-2011, 10:45 AM
Thank you, I seen the other post that after dropping checking they became unverified. I better call paypal and find out what is going to happen before doing it