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reasons to not verify bank account for paypal?

Old 03-18-04, 02:12 PM
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reasons to not verify bank account for paypal?

I am getting close to my maximum limit of sending and I was wondering what the risks are for verifying my bank account.
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Old 03-18-04, 04:25 PM
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Not much. Just don't **** with PayPal. If they, for any reason, ever need to recover any funds in your account, their user agreement gives them permission to automatically withdrawl funds from your bank account without your current authorization (you authrized them to back when you clicked "I understand the terms and conditions"). So ifyou ever sell to someone, and the buyer does a chargeback directly through their credit card, you would be screwed.

And PayPal is very overrated. If someone wants to steal from you, they'll steal from you. It's really not that hard.Simply put, PayPal only protects you from really, really stupid criminals. Like if my Mother (knows nothing of eBay/PayPal) decided that she wants to defraud some people on eBay. And she steals the money, and then leaves it in her PayPal or bank account linked to her PayPal account. But who the **** does that?

And their advertised services are an absolute joke and lie. The only truth lies in the "see terms and condition" disclaimer. Read their 26-pages of terms and conditions, and you'll probably never use them again.

Oh, and I HATE PayPal. Unfortunately, they are a must for eBay merchants.

PayPal is EVIL.
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Old 03-18-04, 05:14 PM
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I've never had a problem with PayPal. My account has been linked for about 4 years and never once had trouble.
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Old 03-19-04, 02:34 AM
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My advice would be to open a seperate bank account for
Ebay/Paypal transactions. It's easy for me to transfer money from
that account to my primary account.

Just don't keep money in your Paypal bank account for Paypal
to withdraw.
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Old 03-19-04, 11:55 AM
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I have never had a problem with PayPal, but there is some interesting reading at http://www.paypalsucks.com/
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Old 03-20-04, 12:50 AM
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Originally posted by Dango727
I've never had a problem with PayPal. My account has been linked for about 4 years and never once had trouble.
PayPal doesn't cause problems without reason. But if you were ever to have to deal with a fraudulant buyer or seller, PayPal's advertised policies go down the drain the the real "terms and condition" come into play.

"Protected for up to $500 under buyer guarantee" turns into "protected under buyer guarantee, as long as the fraudulant seller happens to have money in his PayPal or linked bank account". So unless you're dealing with a really stupid theif, you're not protected.

PayPal will NOT take responsibility for anything. They will not lose money if the seller doesn't send the goods. And they will not help if the buyer files a chargeback with their credit card company.

eBay's feedback system is much more reliable and efficent than PayPal's "guarantees".
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Old 03-22-04, 01:11 PM
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so since I don't sell on ebay would any of these potential problems apply to me?
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Old 03-23-04, 09:28 AM
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Originally posted by Dango727
I've never had a problem with PayPal. My account has been linked for about 4 years and never once had trouble.
Same here.
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Old 03-23-04, 10:11 AM
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Originally posted by troystiffler
PayPal is EVIL.
All the more reason to support them!
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