Paypal and freezing a bank account? (Can they freeze all accounts?)

[debian0001]

I understand Paypal can freeze an account. If you link Checking account 2 to your paypal account and they freeze it, does that mean they freeze checking account 1 and your savings account as well?

 

[Coulrophobia]

It's worse than that, they will come to your house and kidnap your children or even your dog and hold them for ransom.

 

[highland145]

It's worse than that, they will come to your house and kidnap your children or even your dog and hold them for ransom.

The dog? Bastards.

 

[MongGrel]

I just avoid using PayPal at all these days, maybe it's just me.

Haven't for years.

 

[debian0001]

I just avoid using PayPal at all these days, maybe it's just me.

Haven't for years.

I need to start selling on ebay and unfortunelty need to.. so I may just open a second bank account somewhere else.

 

[olds]

At my bank I have a checking account and two savings accounts. One savings account is called "PayPal". I use it only for PayPal. I never leave any money in it. I never leave any money in my actual PayPal account either.
If I accept a PayPal payment, I take it out of PayPal asap.
If I want to buy something with PayPal that is $50, I transfer $50 into the PayPal savings account and then make the purchase. PayPal does the instant transfer.

 

[minendo]

I need to start selling on ebay and unfortunelty need to.. so I may just open a second bank account somewhere else.

I've had 1 account dedicated to Paypal since '99 when I started selling on eBay. I would recommend doing the same.

 

[Kaido]

At my bank I have a checking account and two savings accounts. One savings account is called "PayPal". I use it only for PayPal. I never leave any money in it. I never leave any money in my actual PayPal account either.
If I accept a PayPal payment, I take it out of PayPal asap.
If I want to buy something with PayPal that is $50, I transfer $50 into the PayPal savings account and then make the purchase. PayPal does the instant transfer.

That's the right way to do it.

 

[debian0001]

At my bank I have a checking account and two savings accounts. One savings account is called "PayPal". I use it only for PayPal. I never leave any money in it. I never leave any money in my actual PayPal account either.
If I accept a PayPal payment, I take it out of PayPal asap.
If I want to buy something with PayPal that is $50, I transfer $50 into the PayPal savings account and then make the purchase. PayPal does the instant transfer.

That's what I would like to do but I'm afraid Paypal could get into the other accounts if they wanted to. I would link it to one checking account.

 

[FuzzyDunlop]

Then use a different bank if that's your concern.

 

[olds]

That's what I would like to do but I'm afraid Paypal could get into the other accounts if they wanted to. I would link it to one checking account.

I was told they couldn't but I never tried to verify it.

 

[lxskllr]

Then use a different bank if that's your concern.

This is what I would do. 100% separation is easier to handle, and more foolproof imo. Of course it's better not to deal with the devil if at all possible.

 

[John Connor]

http://www.sitepoint.com/forums/sho...-of-or-freeze-money-in-someone-s-bank-account

I have a policy in PayPal that forbids money from countries I don't ship to and if the amount is $100 or more coming from a non confirmed PayPal account it blocks it. This can help avoid charge backs.

 

[SunnyD]

Paypal can't "freeze" your bank accounts, per say.

The worst they can do is debit whatever amount from your bank account in accordance with whatever refund or recovery they are trying to remit to the bank. Anything beyond that would be their error and would be in the domain between you, your bank and Paypal to clear up.

Granted, banks seem to have a very hard time actually "protecting" their customers when it comes to EFT style transactions, especially ones that entities have had any sort of previous authorization for. This is why I hate any sort of autopay/autodraft, and why my Paypal account has it's very own checking account unlinked to any other bank account. Just in case.