Paypal verifying your bank account? Yay or nay?

[simms]

Anyone see a good reason why I should become verified in terms of linking my bank account with Paypal? All I see are red flags. If that's the case, why the heck is PP asking me to do this?

 

[NikPreviousAcct]

Originally posted by: simms
Anyone see a good reason why I should become verified in terms of linking my bank account with Paypal? All I see are red flags. If that's the case, why the heck is PP asking me to do this?

Do you ever want to transfer money from PP to your bank account or pay someone instantly even though you don't have any money in your PP account? Just do it.

 

[pr0tus]

they are asking you for it so they can take your money if you rip someone off, or claim that you did.

 

[Conky]

Well, if you want to use it more than just a little it's a good thing. You can transfer your paypal straight into your bank account.

 

[Ryan]

I honestly dont' trust paypal - I use a credit card that has a VERY low limit to prevent any excessive unauthorized spending if something were to happen.

 

[Conky]

I've been using paypal for years and nobody has ever attempted to rip me off. It's a good service if you intend to buy/sell stuff over the net.

 

[LS20]

i dont trust paypal either. i was verified for a while... all it meant is that i received extra charges. additionally, i was frauded once, and i was left to (luckily) resolve the problem on my own while PP sat around twiddling their thumbs in their anuses...

i have a pretty good balance in my PP now.. so i pay stuff from that.. and i figure ill spend it all sooner or later so ill skip transferring it to my bank account

 

[Turkish]

Just as rbloedow and LS, I don't trust Paypal either.

For example, did you know Paypal can overdraft your linked bank account? Yup, they can get withdraw money even if you have $0 balance in your bank account. And you'll face overdraft charges. Pathetic, isn't it?

 

[simms]

Originally posted by: Xiety
Just as rbloedow and LS, I don't trust Paypal either.

For example, did you know Paypal can overdraft your linked bank account? Yup, they can get withdraw money even if you have $0 balance in your bank account. And you'll face overdraft charges. Pathetic, isn't it?

Ya, I hate that too. But if I link it, does that mean I get the money instantly in my bank acct from my PP account? I'm in Canada, so it costs me $.50 each time, and it takes a few days at least...

 

[CraigRT]

Originally posted by: FFMCobalt

Originally posted by: simms
Anyone see a good reason why I should become verified in terms of linking my bank account with Paypal? All I see are red flags. If that's the case, why the heck is PP asking me to do this?

Do you ever want to transfer money from PP to your bank account or pay someone instantly even though you don't have any money in your PP account? Just do it.

I'd say just do it too.
I always bank my paypal money right into my account.
it's rather nice.

 

[NikPreviousAcct]

Originally posted by: CraigRT

Originally posted by: FFMCobalt

Originally posted by: simms
Anyone see a good reason why I should become verified in terms of linking my bank account with Paypal? All I see are red flags. If that's the case, why the heck is PP asking me to do this?

Do you ever want to transfer money from PP to your bank account or pay someone instantly even though you don't have any money in your PP account? Just do it.

I'd say just do it too.
I always bank my paypal money right into my account.
it's rather nice.

Unless I have plans to purchase something right after selling something, I usually dump my PP money right into my bank account too. 🙂

 

[Turkish]

Originally posted by: simms

Originally posted by: Xiety
Just as rbloedow and LS, I don't trust Paypal either.

For example, did you know Paypal can overdraft your linked bank account? Yup, they can get withdraw money even if you have $0 balance in your bank account. And you'll face overdraft charges. Pathetic, isn't it?

Ya, I hate that too. But if I link it, does that mean I get the money instantly in my bank acct from my PP account? I'm in Canada, so it costs me $.50 each time, and it takes a few days at least...

it's free in U.S. but still takes around 3 days...

 

[dartworth]

Originally posted by: pr0tus
they are asking you for it so they can take your money if you rip someone off, or claim that you did.

PP won't pull money out of your bank account...

Now that's just stupid...

 

[JungleMan1]

Don't listen to the skeptics, there's nothing wrong with adding your bank account to PP. I have had PayPal for over 2 years and nary a hitch 😉

 

[NikPreviousAcct]

Originally posted by: JungleMan1
Don't listen to the skeptics, there's nothing wrong with adding your bank account to PP. I have had PayPal for over 2 years and nary a hitch 😉

Same here, although I signed up for Paypal when I first joined here (August 2000) and haven't had a single problem with either a basic account or my business account.

 

[simms]

Hmm, I've always heard those stories about linking it, and then PP withdraws your cash out...

If I verify it, does that mean cash gets into my account instantly? Canadian users want to confirm?

 

[Turkish]

Originally posted by: dartworth

Originally posted by: pr0tus
they are asking you for it so they can take your money if you rip someone off, or claim that you did.

PP won't pull money out of your bank account...

Now that's just stupid...

appearantly you haven't read the paypal TOS lately.

 

[dartworth]

Originally posted by: Xiety

Originally posted by: dartworth

Originally posted by: pr0tus
they are asking you for it so they can take your money if you rip someone off, or claim that you did.

PP won't pull money out of your bank account...

Now that's just stupid...

appearantly you haven't read the paypal TOS lately.

Please point this out to me in the TOS...

 

[simms]

So is it or is it not a good idea?