Risk or anyone had problems with giving Paypal your checking acct. #?

[BrunoPuntzJones]

Just curious about those who are verified. They aren't letting me accept credit card payments, and I understand fully why not. I'm just cautious about giving these folks my account number though. Yes, yes, it's written at the bottom of every check, I know. But they could withdraw funds from the account...Bothers me because (and not to brag) I have a lot of cash I have to keep in my account. Run some rental property and there always has to be enough in there to cover anything that may come up. If it was just a dink account that would be fine, but this is the only one I have right now and don't really wanna give the number to those folks.

Anyone had problems with charges they didn't authorize?

 

[Viper GTS]

PayPal has both my checking and savings account numbers, & I've never had any trouble.

Why don't you just start a free checking account somewhere & use it only for PayPal? Hell, even one of those online banks would be fine.

Viper GTS

 

[PsychoAndy]

well, they do protect accounts up to $100,000 from unauthorized withdrawls, right?

 

[Sluggo]

They have my checking account number, that being said.......my wife works at the bank and has a hold on the account allowing no funds to be pulled from it electronically (without authorization from me), only deposited electronically. And it is a secondary account I only use for paypal funds, not my "real" checking account.

 

[Yo Ma Ma]

I have not had a problem, but I don't use the main checking account "just in case".

 

[BrunoPuntzJones]

<< well, they do protect accounts up to $100,000 from unauthorized withdrawls, right? >>

Well this is the same arguement I give for debit cards. With such things YOU have to fight to get your money back right? Where as credit cards THEY have to fight to get the money from you (disputing charges).

Guess I could call the bank and ask what their policy is on electronic charges, and ask them to put holds on withdrawls.

Yeah I thought about making another account. If the post office isn't open tomorrow I'll do that monday...

I'd be more worried about giving online banks my SSN than I would PP my checking account numbers. I assume the banks would want that...Though I could score $50 from ING or something...

 

[Geekbabe]

I have never had a problem with Paypal, however recently my bank Visa was hacked and caused me considerable grief and inconvience getting the issues that resulted settled. I now have a separate checking account for Paypal, which is better anyway as it'll make things easier come tax time next year.

 

[eplebnista]

<< I have not had a problem, but I don't use the main checking account "just in case". >>

 

[BrunoPuntzJones]

Will an ING savings account work? It says you have to register and checking account, but when you click it has a thing where you can checkmark savings account. Does ING provide you with an account number and routing number? What all would they need? They don't need my regular account do they?

 

[RossMAN]

I'm very weary of anyone who has my bank's routing number and account number, all it takes is one small computer glitch and there goes all your money (until they fix the glitch and refund your money).

So I have opened a checking account with another bank just to use with PayPal. I know it sounds like a pain in the ass but I've dealt with ACH nightmares and it can get ugly, so I'd rather not take my chances.

Saying that I haven't had any problems with PayPal, yet. Open either another account with your bank or open one with ING Direct or Netbank and they'll give you $50 free -or- open a free checking account with Washington Mutual.

 

[Russ]

<< PayPal has both my checking and savings account numbers, & I've never had any trouble. >>



...yet.

No way in hell that money losing, rapidly worsening, soon to be bankrupt dot.bomb is getting access to my checking account.

Russ, NCNE

 

[BrunoPuntzJones]

I'm just going to go to my regular bank, open a new account and stick $5 in it or so, and have it completely seperate from my other account. ING wants my account number, don't trust their "secure" services.

I hate paypal, but it really expidites doing business in the fs/ft areas. Too bad more folks won't use iescrow

I'll just make another account with little cash in it, and give them that so I can get my money. Then I'll transfer that money to me in a check or back to my account (depending on what they'll let me do) and cash it, then deposit it in the other account (eliminating a possible chargeback to the main account). They wouldn't dare mix the accounts and allow them to pull from one account as if it were connected to the "paypal" one.

 

[RossMAN]

<<

<< PayPal has both my checking and savings account numbers, & I've never had any trouble. >>



...yet.

No way in hell that money losing, rapidly worsening, soon to be bankrupt dot.bomb is getting access to my checking account.

Russ, NCNE >>



Amen! It's quite possible that through some FUCG (fscked up computer glitch - a term I use regularly) they add a zero to all transactions and debit the funds from your checking account, probably putting your account into NSF status with your bank giving you a bad rating, you get charged up to wazoo with NSF fees and it takes weeks to sort through the mess while your rent is due, car insurance is due and you can't support your upgrade habits. THEN PayPal "files for bankruptcy" protection and you have to join along with 2,100,000 angry other PayPal users who also want their money back. No thanks! PayPal can have my checking and savings account numbers but there'll be $20 in that account, no freakin' way I'm giving them access to my real $.



<< I'll just make another account with little cash in it, and give them that so I can get my money. Then I'll transfer that money to me in a check or back to my account (depending on what they'll let me do) and cash it, then deposit it in the other account (eliminating a possible chargeback to the main account). They wouldn't dare mix the accounts and allow them to pull from one account as if it were connected to the "paypal" one. >>



That's what I would do. Just open a second bank account and use it for PayPal only transactions. Some banks even let you assign names to your accounts, a nice feature.