Avoid PayPal at all cost!

justintime · 01-10-2007, 10:56 PM

You've all heard PayPal horror stories. I have my own, but won't bore you with the details.

Im only posting to make sure they dont screw you like thay have screwed me (and apparently, thousands of people times around). PayPal tends to LOCK your account for no apparent reason. (If they think you're risky or whatever, they lock it).

So the bottom line is:
NEVER LEAVE ANY FUNDS IN YOUR PAYPAL ACCOUNT.
Heck, avoid PayPal altogether if you can.

As soon as you get your money, retrieve it into a safe place. So if they do lock your account, they wont keep your funds (according to their own terms, they CAN keep them for up to 6 months... and they will!)

Now I can care less for responses like 'you must have done something wrong, you deserved it'. They can't even tell me why they are locking it. Spent too much time on the phone already, they ask for faxes left and right, want to force me to add a Bank Account. bla blah blah, NOT WORTH MY TIME!!!

2k1Toaster · 01-10-2007, 11:12 PM

Don't add a bank account because they can draw money out of that too! I only keep the interest in my account that they pay me. I think it is like $3.43 now.

I used to keep thousands in there before I became aware of the danger that is PayPal.

justintime · 01-10-2007, 11:18 PM

You won't believe this, buy they actually ask for stuff that is IMPOSSIBLE to provide:

They asked to fax:
1) Bank Account statement (OK, I could, but that is PRIVATE INFO!!)
2) Receipts for last 10 eBay related sales. HAHA! Laughable. They want RECEIPTS for USED items I hav sold on eBay? WHAT A A JOKE! Can I smell Class Action Lawsuit? What a joke of a company these PayPal clowns.

2k1Toaster · 01-10-2007, 11:36 PM

They want receipts? That is pretty funny! Just whip out an old Dot Matrix printer and "make" some!

justintime · 01-10-2007, 11:41 PM

Read this one...

Genesisfactor · 01-11-2007, 12:15 AM

my dad stopped using them. I have two accounts, one paypal, one regular, and commerce bank. Great thing about it is that in the PP account i try to keep $1 in there to keep it form closing, and have my cash in the other account. I got sloppy in the last few months due to ease, but this instance will make me clean up my mess. I'm sorry justin. Happened to an ebay seller of mine, when i bought stuff form him. Total crap hole he got left in. Sad thing is, you agreed to it...

Well, i dunno what to say, but i have some house cleaning to do...

2k1Toaster · 01-11-2007, 12:20 AM

Quote: Originally Posted by justintime

Read this one...

I am glad that my accounts haven't been frozen! I had about $7500 in there at one point just saving up interest. 5% compared to like 0.00000000001% is a good deal! I buy stuff from everywhere on the internet. I use my debit card all over the country (Every time I fly somewhere or drive somewhere usually cross country) it was fine. I used it in Canada, Trinidad & Tobago, and France with relatively major ($200+) purchases in those places! I would say that was suspiscious. I have a visa credit card that I only put gas on and always from 1 gas station. They were closed one day so I went to another gas station about 1mile away, and the card was declined. Huh?! About 10 seconds later, my cell phone rings from the Visa Fraud Department and asked if I was trying to buy gas!

PayPal is a joke, but it is the easiest. Scary thing is I do have a credit card "backup" fund. Although I am sure Visa would side with customers than PayPal. Or so I hope.

Genesisfactor · 01-11-2007, 12:22 AM

wait stop...you go to trini? when? why?!

Visa is great. i hope they do.

XxAndyxX · 01-11-2007, 12:22 AM

They locked one of my accounts. I made another account, got one of their PayPal credit cards and over drew the account by $50 on gas.

Ruffy · 01-11-2007, 01:04 AM

I never had a single problem with my paypal account. It's always fast and good.

I have a bank account tied to it. It's a bank account I dont really care about and dont keep much money in. I never keep money in paypal itself. Always transferring to my account or spending it.

I have their debit card but never really used it

Prob have done 20 thousand dollars worth of transactions with paypal, selling and buying. Mostly buying.

Ruffy · 01-11-2007, 01:07 AM

Quote: Originally Posted by 2k1Toaster

I am glad that my accounts haven't been frozen! I had about $7500 in there at one point just saving up interest. 5% compared to like 0.00000000001% is a good deal! I buy stuff from everywhere on the internet. I use my debit card all over the country (Every time I fly somewhere or drive somewhere usually cross country) it was fine. I used it in Canada, Trinidad & Tobago, and France with relatively major ($200+) purchases in those places! I would say that was suspiscious. I have a visa credit card that I only put gas on and always from 1 gas station. They were closed one day so I went to another gas station about 1mile away, and the card was declined. Huh?! About 10 seconds later, my cell phone rings from the Visa Fraud Department and asked if I was trying to buy gas!

PayPal is a joke, but it is the easiest. Scary thing is I do have a credit card "backup" fund. Although I am sure Visa would side with customers than PayPal. Or so I hope.

It's common for credit card companies to call customers to verify purchases. In fact one of the most common things that happens with a stolen card is the thief buy gas for all their friends. There are many ways to trigger these calls and many ways to trigger getting your credit card temporarliy locked depending on what you buy, the time you buy, the ammount and what you buy right after it.

Even just attempting ot buy.

2k1Toaster · 01-11-2007, 01:16 AM

Quote: Originally Posted by Genesisfactor

wait stop...you go to trini? when? why?!

Visa is great. i hope they do.

My mom is from trinidad. Opposite coast from Port of Spain. Mmm..... just talking about it makes me wish for a curry and roti stand in colorado! We have so many relatives down there that it seems you cant go too far without running into one! Always have a beachfront place to stay at whenever we go down there. I'm going down in March hopefully. You go to Trinni?

Quote: Originally Posted by Ruffy

I never had a single problem with my paypal account. It's always fast and good.

I have a bank account tied to it. It's a bank account I dont really care about and dont keep much money in. I never keep money in paypal itself. Always transferring to my account or spending it.

I have their debit card but never really used it

Prob have done 20 thousand dollars worth of transactions with paypal, selling and buying. Mostly buying.

I have yet to have a problem with PayPal, I just know that it might happen one day. I too have roughly $70,000 in and out of PayPal and most are $1000 to $4000 payments and incomes at a go. I just don't want them to randomly say "FREEZE!" and I am stuck paying twice until my funds are released! That would be a bummer!

Quote: Originally Posted by Ruffy

It's common for credit card companies to call customers to verify purchases. In fact one of the most common things that happens with a stolen card is the thief buy gas for all their friends. There are many ways to trigger these calls and many ways to trigger getting your credit card temporarliy locked depending on what you buy, the time you buy, the ammount and what you buy right after it.

Even just attempting ot buy.

Yeah true about the gas. Just bringing up the whole Visa is safe, PayPal doesn't care too much. Within about 5 minutes with Visa giving them some personal info and such my card worked again, and I am glad they did call. I kind of hoped PayPal would to, but they didn't. I mean it shows you the differences in "security" between the 2. Multiple countries and large purchases all over the internet and not a single red flag raised. Different gas station in same zip code for roughly the same amount as every other purchase on that card for 2 years, and I get a call immediately! I would rather be called personally.

ODYSSEY · 01-11-2007, 01:18 AM

Quote: Originally Posted by 2k1Toaster

I am glad that my accounts haven't been frozen! I had about $7500 in there at one point just saving up interest. 5% compared to like 0.00000000001% is a good deal! I buy stuff from everywhere on the internet. I use my debit card all over the country (Every time I fly somewhere or drive somewhere usually cross country) it was fine. I used it in Canada, Trinidad & Tobago, and France with relatively major ($200+) purchases in those places! I would say that was suspiscious. I have a visa credit card that I only put gas on and always from 1 gas station. They were closed one day so I went to another gas station about 1mile away, and the card was declined. Huh?! About 10 seconds later, my cell phone rings from the Visa Fraud Department and asked if I was trying to buy gas!

PayPal is a joke, but it is the easiest. Scary thing is I do have a credit card "backup" fund. Although I am sure Visa would side with customers than PayPal. Or so I hope.

Try Emigrant Direct. Right now they pay 5.05% Capital One also has a high interest savings account at 5%.

ODYSSEY · 01-11-2007, 01:26 AM

Also, you guys need to get a separate bank account for paypal. Wachovia offers a free checking account with no minimum and no fees.

Just take a few steps and paypal can ever get any money.

Always pay via a credit card (not just a bank card with logo, but a real credit card) Bank cards are often harder to file a chargeback vs a credit card.
Always transfer money to your "paypal" checking account. Never leave money in you paypal account.
Always remove money from your "paypal" checking account.

2k1Toaster · 01-11-2007, 01:27 AM

Quote: Originally Posted by ODYSSEY

Try Emigrant Direct. Right now they pay 5.05% Capital One also has a high interest savings account at 5%.

Well it is not easy for me to open accounts. (18 year old immigrant) And I have no money anymore. All goes to university now... and the car!

I am surprised though that PayPal hasn't picked up on the fact that my registered age is 3 years older than all my other stuff. I registered just before I was 16 and I have the same account with the same card and everything. I am just waiting for the day when they figure it out!

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