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Paypal ... oogie feeling....
Posted by: Diana
Date: January 05, 2010 03:29PM
Poll
Yea, or nay?
This poll has expired. Voting is no longer possible.
8 votes were received.
Oh yes, give them what they want! 0
 
0%
Oh heck no! 0
 
0%
Open the new bank account, ya wimp! 8
 
100%



Hello all.

I'm a long-time lurker, but new-time poster. This Monday, while checking out all the junk wonderful stuff people had to give away, I found a few items I could not refuse. I need to pay for shipping but don't have a paypal account. When I tried to sign up for one, it wants BOTH a credit card and my bank account information. This is my primary bank account (i.e., the one I use all the time for most everything), and hence the important stuff is linked to it--direct deposit, on-line bill-pay, etc. Hence, I get an oogie feeling when confronted with something like this. I could open a separate bank account for this....but that means waiting even longer!

What says ye of the forum? Yeah, or nay? No paypal account, and those I have been conversing with concerning the junk wonderful stuff will have to wait for a check (no one really wants to wait), but I "feel" better, or link my bank and credit info to paypal for those individuals to be paid faster?

And for those I've been PMing and such, sorry about the wait so far.
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Re: Paypal ... oogie feeling....
Posted by: Black
Date: January 05, 2010 03:39PM
Hi Diana,
This may be an easy one. Your next step is to find out if your card provider offers Virtual Account Numbers. I use citi-- I log into my account and generate a few at a time-- it's like an alias to your credit card but it has a different number and expiration date.
I'm with you 100% on Paypal and always use VANs with them.




New forum user map 8/2015: [www.zeemaps.com]
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Re: Paypal ... oogie feeling....
Posted by: Paul F.
Date: January 05, 2010 03:39PM
Oooohhh yes... second bank account for PayPal.

I didn't...
I haven't been sorry yet, but after reading a number of horror stories about PayPal charge-backs, and taking money directly from your checking...not to mention that there is (reportedly) NO WAY TO UNLINK YOUR ACCOUNT once it's linked to PayPal: Get a new account.



Paul F.
-----
A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: Paypal ... oogie feeling....
Posted by: Diana
Date: January 05, 2010 03:45PM
Black,

I check on it when I get home. And yes, checking credit card/banking information on a computer at work (or anywhere else) that I don't personally own and can verify who is using it is ALSO a problem for me. Call me paranoid if you will.

Shut up....no you shut up!

And Paul,

I know what you mean; it seems I keep opening a new separate account for everything!

Diana



Edited 1 time(s). Last edit at 01/05/2010 03:47PM by Diana.
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Re: Paypal ... oogie feeling....
Posted by: Black
Date: January 05, 2010 03:46PM
Hmmm . . . I've used Paypal many times recently and have never had to enter bank account info-- are we sure that's the only way?




New forum user map 8/2015: [www.zeemaps.com]
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Re: Paypal ... oogie feeling....
Posted by: Paul F.
Date: January 05, 2010 03:51PM
As I understand it, years ago, they didn't REQUIRE a bank account to link to, but new accounts DO. Or so I've read. I haven't actually verified that since I already have an account and don't need to go through the "setup a new account" thing again.

If I'm wrong, and you can decline linking your PayPal account to your bank account, then by all means DO decline.

The virtual credit card number is a great idea if you can make it work.



Paul F.
-----
A sword never kills anybody; it is a tool in the killer's hand. - Lucius Annaeus Seneca c. 5 BC - 65 AD
----
Good is the enemy of Excellent. Talent is not necessary for Excellence.
Persistence is necessary for Excellence. And Persistence is a Decision.

--

--

--
Eureka, CA
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Re: Paypal ... oogie feeling....
Posted by: Ken Sp.
Date: January 05, 2010 03:53PM
Can't you just pay with a CC on PayPal without opening a full account?
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Re: Paypal ... oogie feeling....
Posted by: Diana
Date: January 05, 2010 03:54PM
The site is confusing, probably intentionally so. It implies that you can use either a credit card or a bank account, but when I put in the credit card info and tried to use only the credit card, it insisted on having the bank information and would not proceed further until that info was put in. I closed the window, knowing that the "transaction" was not completed. I don't know if they retain the CC info in this case or not, but it's easier to dispute a CC charge than to try to get money back into the bank account after GIVING someone the information necessary to take it out! rolleyes smiley

I then did some further googling on the matter. It appears that they will make two small deposits into the account over a few days, and then you are to go back on-line and confirm or verify or something like that. The account should then be ready to use.
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Re: Paypal ... oogie feeling....
Posted by: ka jowct
Date: January 05, 2010 03:56PM
Quote
Black
Hmmm . . . I've used Paypal many times recently and have never had to enter bank account info-- are we sure that's the only way?

You weren't signing up, though, were you?

I signed up years ago and only have a credit card linked to my account. It was possible to do that (no bank account required) then. I would NOT recommend that you give those clowns access to your primary bank account.

Hard to believe there is no way to unlink a bank account.
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Re: Paypal ... oogie feeling....
Posted by: decay
Date: January 05, 2010 04:18PM
remember x.com?
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Re: Paypal ... oogie feeling....
Posted by: graylocks
Date: January 05, 2010 06:01PM
if you're jonesing to buy something now, go ahead and use your present bank account. i've had two paypal accounts for 10+ years and never had a problem. in the meantime, open another bank account (free, natch) and once it's set up, switch your PayPal linked account to that and remove your primary bank account. this will only take a few weeks; i seriously doubt anything bad will happen in such a short window as long as you are signing up for a true PayPal account. i phrase it that way because it seems like you're possibly initiating a PayPal account from a merchant link rather than going to PayPal directly.

btw, i've not used it much but INGDirect has free checking. that will have to be linked to a B&M bank account but ING is super legit.



"Success isn't about how much money you make. It is about the difference you make in people's lives."--Michelle Obama
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Re: Paypal ... oogie feeling....
Posted by: hal
Date: January 05, 2010 06:43PM
I've used the same checking account with paypal for over 10 years. I've done well over 1000 transactions, I've been through several disputes and paypal has NEVER taken money from my account without permission.

I challenge you to find ANYONE that has had this happen to them - post to the 'paypal sucks' sites that are sponsored by cheezy/sleezy paypal alternatives do not count.

Quote
Paul F.
I haven't been sorry yet, but after reading a number of horror stories about PayPal charge-backs, and taking money directly from your checking

not true

Quote
Paul F.
...not to mention that there is (reportedly) NO WAY TO UNLINK YOUR ACCOUNT once it's linked to PayPal: Get a new account.

also not true

there's certainly noting wrong with going to paranoid route except the time wasted - if you have time and it makes you feel better - have at it...

most all of the anti paypal stuff you read is from people with very, very little experience with paypal.



Edited 1 time(s). Last edit at 01/05/2010 06:46PM by hal.
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Re: Paypal ... oogie feeling....
Posted by: hal
Date: January 05, 2010 06:46PM
Quote
decay
remember x.com?

they gave up x.com a year or two ago - I use to use it when I was in a hurry... I can't believe they don't sell it to the highest bidder...
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Re: Paypal ... oogie feeling....
Posted by: M A V I C
Date: January 05, 2010 07:33PM
Quote
hal
I challenge you to find ANYONE that has had this happen to them - post to the 'paypal sucks' sites that are sponsored by cheezy/sleezy paypal alternatives do not count.

I know someone who had their checking account drained via their paypal account. PayPal got hacked and *poof* - his money was gone. They eventually got it back to him. They got hacked through an exploit back when they allowed access via MSN passport.

But anyway, your other points stand and that one is isolated. Still I add and remove cards and accounts at will, though when you remove an account it then says you're unverified. Perhaps you know of a way to keep that from happening?




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Re: Paypal ... oogie feeling....
Posted by: Diana
Date: January 05, 2010 08:42PM
I checked with my bank when I got off work, and set up a separate account just for paypal with no fees attached. I was told that it would be fully functional tomorrow, since it was about 5:00 pm (closing time) when it was put into the system.

For those who have NOT had problems online, good for you. I know, it will probably never happen, but just in case, I don't want it to happen to me. The hassle of fixing the problem after the fact is much more than the hassle of doing it the "paranoid" way and preventing the problem from occurring. My credit is good, and I make more than I spend. 'Nuff said about that.

This morning before I left for work, I went through the paypal.com site, not linking through a merchant. When I checked this evening, I find an email saying that I have an "account" with paypal but need to click on the box to verify. I think I'll wait a little longer, at least tomorrow when I get home, for the bank account to be fully set up and activated before I verify. If I need the bank account, its there, and if not, oh well.
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Re: Paypal ... oogie feeling....
Posted by: Black
Date: January 05, 2010 08:46PM
Quote
Diana
I checked with my bank when I got off work, and set up a separate account just for paypal with no fees attached. I was told that it would be fully functional tomorrow, since it was about 5:00 pm (closing time) when it was put into the system.

For those who have NOT had problems online, good for you. I know, it will probably never happen, but just in case, I don't want it to happen to me. The hassle of fixing the problem after the fact is much more than the hassle of doing it the "paranoid" way and preventing the problem from occurring. My credit is good, and I make more than I spend. 'Nuff said about that.

This morning before I left for work, I went through the paypal.com site, not linking through a merchant. When I checked this evening, I find an email saying that I have an "account" with paypal but need to click on the box to verify. I think I'll wait a little longer, at least tomorrow when I get home, for the bank account to be fully set up and activated before I verify. If I need the bank account, its there, and if not, oh well.

My bank swore there were no fees when I set up a separate account.
What they didn't tell me was that I'd get a box of checks for the new account and get charged $25 for them . . . a minor annoyance but irritating nonetheless.




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Re: Paypal ... oogie feeling....
Posted by: hal
Date: January 05, 2010 08:50PM
"What they didn't tell me was that I'd get a box of checks for the new account and get charged $25 for them"

my gawd that's a crappy thing to do - hope you skewered them good
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Re: Paypal ... oogie feeling....
Posted by: Black
Date: January 06, 2010 12:05AM
Quote
hal
"What they didn't tell me was that I'd get a box of checks for the new account and get charged $25 for them"

my gawd that's a crappy thing to do - hope you skewered them good


I've kind of given up on them, sorry.




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Re: Paypal ... oogie feeling....
Posted by: mspace
Date: January 06, 2010 07:42AM
I created an ING checking account just for Paypal, as an intermediary to my regular checking, so people could pay me, etc.

Whenever I buy anything, I like to use a credit card. I have to be careful and change the "payment" options in the purchase process to the credit card, as it defaults to the checking account. I haven't been able to find how to change that default. I just have to make sure I don't forget that one extra click.
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Re: Paypal ... oogie feeling....
Posted by: Psurfer
Date: January 06, 2010 11:14AM
Really the first thing I recommend is to call Paypal and ask them if you can just pay for your item without/before waiting for the bank accnt confirm thing. If it's a fairly small pymnt amt, they may still allow that, and can walk you through the process over the phone.

Next, I second/3rd the motion to open a checking acct specifically for PayPal; if the process makes your sellers wait, just write them ahead of time and alert them that the PP sign-up rigamarole is in process (if they are long-time sellers, they've heard this before).

-And it's also worth repeating mspace's point above, re paying w/your CC. Some of the send money or checkout forms make that payment option link pretty hard to spot, and once paid, you can't go back and change the method of payment - if for example you realize you've just paid $10 out of the bank account that has only a $5 balance, in an account that charges you a $20 overdraft charge...

And welcome to the forum!
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