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    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?
    Len

  • #2
    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
    Please excuse my typing as I have a form of parkinsons disease

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    • #3
      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.
      Last edited by squirrel; 03-13-2011, 04:43 PM.

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      • #4
        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.
        Play Brutal Nature, Black Moons free to play highly realistic voxel sandbox game.

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        • #5
          We opened a paypal-only bank account and keep it fed just enough. New accounts are free.

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          • #6
            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.

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            • #7
              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

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              • #8
                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.
                Play Brutal Nature, Black Moons free to play highly realistic voxel sandbox game.

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                • #9
                  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.
                  Len

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                  • #10
                    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.

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                    • #11
                      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
                      Amount of experience is in direct proportion to the value of broken equipment.

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                      • #12
                        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.

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                        • #13
                          Yeah, paypal is junk.
                          Andy

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                          • #14
                            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

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                            • #15
                              Originally posted by squirrel
                              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
                              Last edited by aboard_epsilon; 03-13-2011, 06:57 PM.

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