YAP(aypal)T: I need some advice

[Raduque]

I've used Paypal a few times in the past and didn't have any problems - It was mainly to buy from people on forums. I'd read all the horror stories and read about all the scams, and so on, and stopped using it. The bank account tied to the Paypal account has been canceled.

Well, it's come to a time that I want to try and buy a new phone on Ebay, and 90% of the sellers use/prefer paypal. So, I've been limited myself to sellers who accept non-PP payments.

However, I might be able to get more results if I'm able to bid on more auctions, so I need some advice: Should I, or should I not attach my new bank account to paypal, and if not, is there a way other then bankaccount/CC to get money in my PP account?

 

[rudder]

Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

 

[pontifex]

i've had my bank account tied to paypal for years and never had a problem

i don't get how you guys have so many problems with Ebay and PayPal.
You guys must not look at feedback or something, because I've had very little problems. and those problems were just taking a long time for the seller to ship an item. I always got the item and i've always been paid when selling.

 

[Raduque]

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

Yea, I just opened another account at my current bank separate from my main checking account, I'll just do an inter-bank transfer to have it available later that day to transfer to paypal.

 

[rudder]

Originally posted by: pontifex
i've had my bank account tied to paypal for years and never had a problem

i don't get how you guys have so many problems with Ebay and PayPal.
You guys must not look at feedback or something, because I've had very little problems. and those problems were just taking a long time for the seller to ship an item. I always got the item and i've always been paid when selling.

it just takes one asshat to ruin the whole day. Sure you can have 1000+ ebay sales... but you will eventually come across someone who thinks the world owes them. Then they will get on you for not shipping a battery with the laptop you sold and will drain your bank account with a paypal claim.

 

[pcslookout]

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

How does that help ? It doesn't matter how much you how little you have in a bank account. They can still drain you money even with $0 in your bank account.

 

[FoBoT]

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

i use my credit union accounts this way, my job direct deposit goes into a seperate bank

so i only have a little saving and checking $ exposed to paypal

 

[pcslookout]

Originally posted by: FoBoT

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

i use my credit union accounts this way, my job direct deposit goes into a seperate bank

so i only have a little saving and checking $ exposed to paypal

Actually you still have a lot of money exposed because they can just overdraw your account to get $500 instead of just $25. That way they get $25 of your money and $475 from overdrawing your account.

 

[DeviousTrap]

Originally posted by: pcslookout

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

How does that help ? It doesn't matter how much you how little you have in a bank account. They can still drain you money even with $0 in your bank account.

How exactly can they do that? (I'm curious how they'll get your bank account in the negatives, completely ignoring the fact that they can't even touch your bank account with your explicit permission)

 

[pcslookout]

Originally posted by: DeviousTrap

Originally posted by: pcslookout

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

How does that help ? It doesn't matter how much you how little you have in a bank account. They can still drain you money even with $0 in your bank account.

How exactly can they do that? (I'm curious how they'll get your bank account in the negatives, completely ignoring the fact that they can't even touch your bank account with your explicit permission)

Well the transfers from your paypal account comes from your bank account so thats how more money can be taken out of your bank account even if you may not have it in there.

There are ways to prevent this

 

[Raduque]

Originally posted by: DeviousTrap

Originally posted by: pcslookout

Originally posted by: rudder
Find a credit union that only needs a minimun of $25 to open a checking account. No fees, nothing. Then tie paypal to that bank account.

How does that help ? It doesn't matter how much you how little you have in a bank account. They can still drain you money even with $0 in your bank account.

How exactly can they do that? (I'm curious how they'll get your bank account in the negatives, completely ignoring the fact that they can't even touch your bank account with your explicit permission)

That's a good question. I've never come across a bank a that would pay a $500 request with only $25 in your account just to hit you for a $30 NSF. Unless you have some sort of overdraft protection that ties it to another account, but even then there wouldn't be an NSF fee so the bank doesn't get anything out of it.

I'm curious pcslookout: How do you drain something that's empty? Draining by the very definition means, roughly "to make empty".

 

[Suspicious-Teach8788]

Originally posted by: pontifex
i've had my bank account tied to paypal for years and never had a problem

i don't get how you guys have so many problems with Ebay and PayPal.
You guys must not look at feedback or something, because I've had very little problems. and those problems were just taking a long time for the seller to ship an item. I always got the item and i've always been paid when selling.

I tie it to my bank account, but I fund out of my CC. Any questions and my CC will respond faster than Paypal. I love AMEX for that reason.

The only PROBLEM you have with a bank account being tied to your Paypal is if someone logs in and withdraws all ur cash from your bank account. I had someone get hacked like that becuase he was idiotic enough to let his VNC open and then he saved passwords in his browser (gosh I think that's the dumbest thing ever), and now he runs around saying Paypal sucks.

If your'e smart, Paypal is your friend. If you get scammed, that's not because of Paypal. It's because you need to watch out.

If you get a chargeback, well you need to deal with buyers more carefully.

But still, I understand Paypal can be problematic, and once in a while (esp if you do volume sales), you will run into a lot of issues. If you're doing personal stuff on ebay, I say it's fine. Business + paypal = you will get pwned.