This website is a collection of horror stories, news reports and other information addressing problems with Paypal, Inc..

They Screw Up Plenty

By Steven Brihill

I  suggest GREAT caution when using ANY internet financial accounts. FIRST….don’t let PayPal (or anybody else) know your checking account number.  If they want a checking account number, then go open a free, or low fee account and give them THAT number.  I have a seperate checking account I use JUST FOR PAYPAL, and another I use JUST FOR online shopping, and THEN I also have my regular account that I pay the bills with…NOBODY get’s THAT account number—I won’t even sign up for my banks ONLINE BANKING for that account…that account number NEVER goes accross the internet—not even just for me to check my own balance….I can CALL for that.   The trick is to NEVER have any more money in the “spare” accounts then you need to. Maintain a zero balance if your bank will allow you to, or a small balance if necessary  (I have to keep at least $5 in one of my accounts, but the other is fine with nothing in it).   THEN…ONLY deposit money into that account as needed for online transactions.  Want somethin gon eBay?  Make a deposit before you bid…or that same day.  If you don’t win the item, then go withdraw the funds back out.  

Saw a neat tent on a camping website? Well…go deposit the needed amount into your spare account, buy the tent, then your account is back to being “empty”.   If anybody screws with your account, there’s none of YOUR money in there to take or freeze…the worst they can do is overdraw your account, but you can elimiate this by telling your bank not to maintain ANY overdraft protection on that particular account….make sure they understand that you want the acconut to REFUSE PAYMENT on any and all items if your balance falls to zero.   Even if somebody overdraws you….then you just have to DISPUTE it (just send a written letter claiming you don’t think the charge is legit…that’s all…no lawyers, no courts….no big hassle), and then no harm can be done to your credit until the matter is investigated and resolved.

A lot of what you have on this site about PayPal WAS true…..I myself went through almost every horror you have listed…it was a HUGE mess….but PayPal has changed owners…eBay now owns PayPal and has already corrected a great number of the  problems….Customer Service is now available 24 hours a day on a Toll-Free 1-800 number, and things are a LOT better now….not yet perfect, but a LOT better.

If eBay hadn’t bought PayPal, most industry experts agree that the company would have folded before 2004…..there was simply TOO MUCH fraud, waste, and abuse of customers and their accounts. Now…eBay isn’t perfect either…they screw up plenty, but MOST of what used to go on at PayPal has been eliminated.

Posted: May 9, 2012 at 11:15 am

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