Originally Posted By: AdRock
Originally Posted By: Artem
Why not? I have my main personal checking account linked to Paypal. My checking account has tens of thousands of dollars in it. I sleep easy at night knowing that Paypal will not go into my account and jack my phone while I sleep... Come on guys, it's a multi-billion dollar company. They don't need your checking account with a few dollars in it.
Yea, everything is great until the account is frozen because of something and then you have no access to any of the money until the issue is resolved.
I've known people that this happened to, in one case a buddy had his account with tens of thousands of dollars tied up for almost 3 months. Yes, he never lost a dime. But he ended up paying late fees on bills that he couldn't pay. Also, any automatic payments were declined.
If you stay on top of your stuff and keep everything under control, how can anything go horribly wrong just outta the blue?
Originally Posted By: dishdude
You're a brave man. I have a second account linked to Paypal that I keep $10 in, and it's used only for Paypal transfers. If my Paypal account gets hacked, if Paypal decide to pull funds out for a chargeback or something crazy, they aren't getting much.
I have been on eBay since the 90's, and Paypal since it's inception and haven't run into any major issues, but not taking any chances with all the horror stories I read online.
To me the fees have gotten totally out of control, so I usually try CL for anything first.
Paypal (as well as my bank) has policies against unauthorized use. If the account gets hacked and runs up a nice tab, a quick call to Paypal and my bank and I'll have the funds back in a jiffy. The bank I have linked to my Paypal account is extremely strict when it comes to this type of thing and they protect their members very well, from the reviews I've read online about the bank.
Regarding the fees... just like insurance companies spread the rates across the board because of BAD DRIVERS and we all end up paying for it in the end, ebay does the same thing... We're paying for all the scammers and all the bad sellers with our fees. ebay has to cover up a lot of mistakes and refunds from scams out of pocket, to keep the buyers happy. ebay has also had to hire TONS more employees to keep up with the growing market place. Someone has to pay for the employees that answer the phone and those who deal with everything that goes within ebay daily.
I personally can count a good 10-15k where I got scammed over the years. The seller vanished and Paypal refunded the funds after a lengthy case. If the seller took the cash out, who do you think refunded my funds...?
Originally Posted By: nitehawk55
Heard too many stories of things going wrong with paypal . Same here , I will not link my main bank account with them anymore .
Just google problem with paypal or the like....tons of situations that have gone wrong out there .
Those "internet stories" don't scare me. I can google a ton of every day bank stories, where stuff went wrong for the account holder. Does that mean I shouldn't have a bank account / credit cards and should sleep with all my cash under the mattress / pillow? Come on, get real.
Out of the hundreds or thousands of cases gone wrong, there are MILLIONS of members on ebay who are successful and problem free. Think of it like those ebay sellers with tons of feedbacks... even though they have 1,000 negative feedbacks, their overall score is still 98-99% positive feedback, just like ebay. There may be a few who aren't happy with how their transactions went but there are a BILLION transactions daily that go through without any hiccups.
