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Link your bank account to your PayPal account.
- Thread starter Rconectn
- Start date
tsmckenney
Mick
- Joined
- Mar 7, 2007
- Messages
- 2,952
I believe it's pretty safe. A person would have to hack into your PayPal account to move money. I, personally, have not heard of that happening (although I'm sure it has), so I don't think it's so common.
The most common scam right now, one that many of us are familiar with, is hacking into sites that contain a lot of personal information (names, credit cards, security codes, addresses); using that information to test for 'unguarded and active cards'. This is when people see small charges they don't recognize on their statements. If those charges don't get kicked back (reported/denied), the scammer will do a second charge slightly larger. If that charge doesn't get kicked back, then they will start dumping on the card big time (amounts in the hundreds, or more).
The key to being safe is using sites that are secure, and checking your statement as often as you can. If you see charges you don't recognize, call your bank immediately.
Paypal is secure, just ignore any emails you get from 'them', as most of 'them' are fake and from scammers trying to get info from you.
The most common scam right now, one that many of us are familiar with, is hacking into sites that contain a lot of personal information (names, credit cards, security codes, addresses); using that information to test for 'unguarded and active cards'. This is when people see small charges they don't recognize on their statements. If those charges don't get kicked back (reported/denied), the scammer will do a second charge slightly larger. If that charge doesn't get kicked back, then they will start dumping on the card big time (amounts in the hundreds, or more).
The key to being safe is using sites that are secure, and checking your statement as often as you can. If you see charges you don't recognize, call your bank immediately.
Paypal is secure, just ignore any emails you get from 'them', as most of 'them' are fake and from scammers trying to get info from you.
AVB
Jesus of Cool, I'm bad, I'm nationwide
- Joined
- Nov 14, 2003
- Messages
- 22,985
If you look into any of the linked accounts be it from PayPay or anyone else you'll see not only can they deposit money but they can withdraw too WITHOUT NOTIFYING YOU. We use a secondary account and only keep a few hundred in it just for PayPal. If we want to make a bigger purchase then we'll transfer funds in just for that item.
drunkfish3
Angry Fish
- Joined
- Oct 17, 2008
- Messages
- 6,101
I have never had a problem and mine as been linked for years. and yes i believe you have to link a account to receive credit card payment and i though any payment. if you want to receive credit card payments you must upgrade to a premier account which means fees on all payments.
tomthirtysix
Wishing I was as cool as Phil
- Joined
- Dec 27, 2006
- Messages
- 7,020
Happened to me, through Ebay. And PP is a pain in the a$$ to deal with to get the money back. I called them as soon as I got the email confirmation that I had used it to pay for something, 2 hours after the transaction time stamp. They said no problem, and it would be stopped.
Well, four hours later, I get an email saying that the transaction had been approved (by who, I have no idea), and the transfer was complete. Called them back, they said it would now take 4-6 weeks to get the money back. Yeah fuggin right.
Went down to my bank and had the money back in within 24 hrs, with a promise that if I was overdrawn during those 24hrs because of this, they would take care of it.
So, if you plan on doing this, better hope your bank has good customer service. Commerce Bank (now TD Bank) sure does.
GarlicBreath
Living in a van down by the river
- Joined
- Oct 8, 2008
- Messages
- 242
Linked for many years. No problems.
The funny part is that ALOT of those fake emails look totally legit. The quickest way to check is to forward that email in question to spoof@paypal.com. The typical response time from them is within 15mins. I get those fake emails all the time. I dont do anything till I hear from paypal security. Never click any links contained in those emails. If you can try to open a seperate browser window to access the account.
I have had an account with them for many years and have had no issues.
Oh one more thing...Password security. Please make that paypal password a hardened password, no pet name, no spouse name, try to include at least one upper case letter, a numeric, a special character, and go for a password length of 6 to 8 characters.
Art
flamchop
65/65
- Joined
- Jan 7, 2008
- Messages
- 1,185
Disclaimer: Any web service in which you link a checking account, credit card account, or any other type of account, even your bank websites themselves, carry a certain amount of risk for hacking, identity theft, etc.
With that said I've used PP since 1999 and never had one problem. Any problems I've had were through eBay and had nothing to do with PP.
Never open an email saying it's from PayPal, eBay, or anything. Always assume it's not legit and simply log into the website itself to find out if your account needs any attention. It never does.
With that said I've used PP since 1999 and never had one problem. Any problems I've had were through eBay and had nothing to do with PP.
Never open an email saying it's from PayPal, eBay, or anything. Always assume it's not legit and simply log into the website itself to find out if your account needs any attention. It never does.
drew_goring
Big Bad Mother F*cker!
- Joined
- Jan 28, 2006
- Messages
- 1,046
My PP account was hacked once a year or so ago and someone made a 50$ purchase for a porn site. PP let me know that they suspected fraud before I even did. Money was refunded within a week or 2.
Sure made me kind of scared though...someone had access to my entire chequing account. I have since beefed up my password significantly and haven't had any problems.
Sure made me kind of scared though...someone had access to my entire chequing account. I have since beefed up my password significantly and haven't had any problems.
DesertRat
Perpetual Newbie
- Joined
- Jun 19, 2008
- Messages
- 959
I've been linked for several years as well and had zero problems. I always get an instant e-mail notification when I use Pay Pal as well so if someone did try to hack it I'd know pretty quickly and be able to take steps to stop and reverse it.
SPIVY
THE STIG
- Joined
- Oct 24, 2008
- Messages
- 1,773
I would recommend connecting a separate account to paypal, not primary. Our business uses paypal for our retail customers and we link it to an account only used by paypal. Once money comes in it is transferred to the checking account and then transferred to our operating account.
Cparker
My dogs don't smoke
- Joined
- Sep 7, 2004
- Messages
- 644
I agree with the other posts on not linking this to a primary account. I also only have it linked to an account with an amount of money in it that if the account were cleaned out I would not lose sleep (meaning $5.00).
Paypal is a PIA when it comes to purchases if you have money held on their side as they make you clear the PP before you can use a credit card, and they take the slow road in moving money out of PP to your account.
I also do not know if PP accounts qualify for FDIC protection. So I definitely would not leave any significant amoun in a PP account too long.
I do get PP emails, but read carefully. I have received numerous phishing emails, and some of them were pretty realistic looking.
Cparker
Paypal is a PIA when it comes to purchases if you have money held on their side as they make you clear the PP before you can use a credit card, and they take the slow road in moving money out of PP to your account.
I also do not know if PP accounts qualify for FDIC protection. So I definitely would not leave any significant amoun in a PP account too long.
I do get PP emails, but read carefully. I have received numerous phishing emails, and some of them were pretty realistic looking.
Cparker
LilBastage
Meat is murder! Tasty, tasty murder.
- Joined
- Oct 25, 2005
- Messages
- 5,461
I do something similar, but I only keep $1 in that account. If I want to make a PP purchase on ebay or somewhere I transfer the money from my primary checking to the PP linked account (which will deny any transaction that is greater than the amount of money in the account). I also carry no balance whatsoever on PP. As soon as money comes in, it gets transferred immediately to the PP linked account. Once it clears, it all goes into my primary account except for $1.
All of the transferring is kind of a pain, but I am protected from any outside activity. If someone were to get into my PP info somehow, they'd get $1. I don't use PP very often because of their tobacco policy, anyway.
Treamayne
On the run...
- Joined
- May 19, 2004
- Messages
- 1,482
Here's another example of it happening
This is what bit me, and the withdrawal wasn't for a purchase at a store, it was "private seller" for an auction that didn't exist.
My story is similar, last year while I was deployed, my PP account was hacked (and I did have a pretty good password - 9 characters at leas 2 #s Upper, lower - just no special characters, but it does now - and no dictionary words or words relating to your life like names or dates). I only caught it early because I'm anal about my bills and accounts whjile deployed, so I checked my account on Payday and saw it cleaned out. After lots of phone calls adn web site visits with online cust service (not easy from theater) I got the transaction stopped and reversed, but PP slow rolled sendng the money back to my account. Fortunately USAA was awesome - they held my transactions instead of bouncing them, waived all ISF fees and kept me afloat the 6 days it took to get my accounts settled. Without them I would have bounced a mortgage payment, car payment, and 4 other bills.
I just dropped paypal, even though I had worked with them since 2000. I wasn't impressed with thtere service - they were great on identifying the theft and stopping it, but once the fraudulent transaction was stoppped - it seemed there drive to be helpful stopped too. If you use PP then linking to a Secondary acount is the way to go, if at all. You can also make use of PP without ever linking to a bank account if all you are going to do is buy and not receive money. Linking a CC is far easier to reverse damage than a bank account, as I discovered the hard way. And Tom is right, having the right bank with good cust service is possibly the largest component to surviving an inncident like this.
-K-