PayPal

Discussion in 'Buying Tips and Advice' started by zorg, May 19, 2006.

  1. zorg macrumors regular

    Joined:
    May 3, 2006
    #1
    How does PayPal work? Is it with your bank account or credit card? Also, is there some garantee that you will get your money? What if the person doesn't have the money and sends it to you on paypal, who is penalized, you or the person sending?
     
  2. WildCowboy Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
    Jan 20, 2005
    #2
    You can fund a PayPal account with either a bank account or a credit card.

    In short, there are very few guarantees you will get your money. Do a search for PayPal and find out how many people have been screwed by other users and PayPal itself.

    I only use PayPal to submit payment to people I know.
     
  3. zorg thread starter macrumors regular

    Joined:
    May 3, 2006
  4. iGary Guest

    iGary

    Joined:
    May 26, 2004
    Location:
    Randy's House
    #4
    I've never had one single problem with PayPal...in four years....:confused:
     
  5. zorg thread starter macrumors regular

    Joined:
    May 3, 2006
    #5
    I have an account but it says it is unverified. What do I need to do to verify it? Is it safe to tell them my bank account number, because this is what the are asking for verification. And when I verify it, that will mean I will be able to receive/ send payments, right?
     
  6. CanadaRAM macrumors G5

    CanadaRAM

    Joined:
    Oct 11, 2004
    Location:
    On the Left Coast - Victoria BC Canada
    #6
    Read the PayPal directions and follow them.

    You will have to attach a bank account OR a credit card to your account to verify it. You'll have to decide if you are comfortable giving PayPal access to your account, or open an new account specifically for the purpose.

    But please, go to PayPal for the instructions. Call their support line if you don't underrstand the web documents.

    The OTHER party, will either be verified or not -- if they are not it is your choice whether you want to do business with them or not. They cannot send money to you if they don;t have money in their account. BUT - if they use a stolen charge card to fund the account (an excellent reason for them not being verified, BTW) then PayPal WILL take the money back out of your account when the credit card company charges back PayPal for the fraudulent purchase.
     
  7. WildCowboy Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
    Jan 20, 2005
    #7
    You do not need to have a verified account in order to use PayPal. It's an extra step that provides users with more confidence in you because you've been vetted by a bank.

    Edit: CanadaRAM, a credit card won't get you verified...they require a bank account. I've never done it...for my limited uses, an unverified account linked to a credit card I use only for PayPal is fine.
     
  8. Transeau macrumors 6502a

    Transeau

    Joined:
    Jan 18, 2005
    Location:
    Alta Loma, CA
    #8
    I use paypal daily for my business.
    I pay my server lease with it, and I bill my hosting clients with it.
    I also use it for eBay.

    In the last 7 years of using paypal, I have only "lost" a total of $78.
    They are really very good about protecting the users.

    HOWEVER - DON'T use there "Virtual Debit Card" feature. It's a 3rd party bank that deals with that, and they offer NO protection against fraud. (That's there the $78 loss came from for me)
     
  9. Roba macrumors 6502

    Joined:
    Mar 18, 2006
    #9
    You can send money by using Paypal if you have no money in your bank account. As long as your account is attached to your bank account you can do this.
    If it is attached by your debit card and you pay by this method i don't think that it would be possible.
     
  10. ImNoSuperMan macrumors 65816

    ImNoSuperMan

    Joined:
    Dec 1, 2005
    #10
    I just used a credit card with paypal. Dont know how you have come to the conclusion that Credit card doesnt get you verified. It`ll. They charge you 2$ from the credit card and you`ll be asked to enter a 4 digit code to get it verified. That code will appear on your credit card statement along with the 2$ bill.

    I followed exactly the same procedure and I had mine verified without any problems.
     
  11. crazydreaming macrumors 6502a

    crazydreaming

    Joined:
    Apr 17, 2005
    Location:
    Salt Lake City, UT -Westminster College
    #11
    Are you referring to the Paypal Debit Card? I have been using it for a while... It's nice because it works anywhere, and I get a little cash back on purchases made with it. I try to transfer funds from my bank account into my paypal account if I'm about to make a big purchase for the cash back. However, if you have had problems with it, I MIGHT STOP USING IT NOW!

    Does anyone have input on the Paypal money market thing? It's basically an investment type thing, I've only been doing that for about a month, and I have made a few bucks, haven't lost anything with it... but leary of continuing that.

    I have to say I have been screwed huge by paypal once. It was around the time when I first started using paypal. Basically I got screwed out of my iPod mini, right after they came out. I sold it and shipped as soon as the payment was in my account, however paypal reversed the funds after they said the purchase was made by a fraudelent buyer or credit card or something. I don't remember exactly what the deal was, but I remember the money was in my account, and then I remember being on the phone with Paypal, wondering why they were holding my money, and then ultimately took it away from me! After I already had it.. Huge bummer
     
  12. WildCowboy Administrator/Editor

    WildCowboy

    Staff Member

    Joined:
    Jan 20, 2005
    #12
    Interesting...I'm unverified, and when I click on "Get Verified" I get the below screenshot. My only option is to add a bank account. Clicking on "Add Bank Account" takes me to a screen where I have to enter the info from a checking or savings account. PayPal will then make two small, random deposits into my account, at which point I have to come back and confirm the value of those deposits. Only then will they verify me. No thanks...I don't need it that bad.

    Picture 2.png
     
  13. dpaanlka macrumors 601

    dpaanlka

    Joined:
    Nov 16, 2004
    Location:
    Illinois
    #13
    PayPal is a very wonderful tool if you use it wisely. People that get "screwed" really screwed themselves by dealing with shady buyers or sellers, or being shady themselves. If you walked into your house and found a burglar, and then asked him to break a 20 before he left, and then ended up losing your 20 dollars, did you get screwed or did you screw yourself?
     
  14. Transeau macrumors 6502a

    Transeau

    Joined:
    Jan 18, 2005
    Location:
    Alta Loma, CA
    #14

    Nonononononono I use the Debit card too! I love it!

    They offer a "Virtual Debit Card" for use online. They generate a Virtual Number that you can have pop up in a window. It USED TO BE automatic, that all PayPal accounts had this virtual number… The problem that I had was that I use it once, like 3 years ago. Well, it seems that it's not so secure, as someone was able to use it to buy something from Amazon. When I called PayPal about the charges, they stated that it was on my "Virtual Debit" account number and that I would have to deal with Chase who provides that service. When I called Chase, they would not help me, because they claim that by activating the Virtual account I agreed to the terms and that they are not responsible for fraud charges. Lovely huh?
     
  15. CanadaRAM macrumors G5

    CanadaRAM

    Joined:
    Oct 11, 2004
    Location:
    On the Left Coast - Victoria BC Canada
    #15
    Be aware that at some point in accumulated lifetime purchases/Sending (it was $1,400 in papal purchases for me) they will lock your account and won't let you get your money out until you verify with a bank account or whatever your type of PayPal account offers as an option. At least in the USA you can request a physical cheque to be sent to you to close the account (less the service charges of course) In other countries you are SOL - can't withdraw, and can't spend your money unless you attach a bank account. Even if you have attached a charge card.

    I ended up opening a new bank account just for Paypal that I keep $25 in.
     
  16. Roba macrumors 6502

    Joined:
    Mar 18, 2006
    #16
    That is not quite correct. I have been conned by sellers with good feedback who have been trading on ebay for a while. I have been sent out goods that were DOA and not as described by these people. The thing with ebay is that some people just do not like to neg other people in case of them being given a negative themselves so they often just leave it or do not give a true account in their feedback.
    I think that it is very hard to win a case of not as described on Paypal so a lot of buyers just end up losing out and their cases get deferred and all Paypal may claim to do is to make a note on the sellers account of the incidence.
     
  17. dpaanlka macrumors 601

    dpaanlka

    Joined:
    Nov 16, 2004
    Location:
    Illinois
    #17
    Responsive Feedback is against eBay's policies. If you are found to have been left negative feedback by a buyer or seller simply because you left the negative feedback first, and have proof that you are the truthful feedback-leaver, you can petition eBay for a feedback withdrawl on that transaction.
     
  18. paddy macrumors 6502a

    paddy

    Joined:
    Jun 25, 2005
    Location:
    TN
    #18
    I recently bought a €130 DS w/games on eBay using Paypal. It was never delivered. Went to paypal to file a complaint. Usual 10 day wait for seller response. There was no response so eBay e-mailed me yesterday saying I'd get a full refund within 5 days provided theres enough funds in the sellers account. What if theres not? Do I get screwed? :confused:
     
  19. bigandy macrumors G3

    bigandy

    Joined:
    Apr 30, 2004
    Location:
    Murka
    #19
    i agree. i've bought my last two cars through ebay/paypal. i've sold computers, i've bought almost everything you can think of, and i've never had any trouble.
     
  20. Transeau macrumors 6502a

    Transeau

    Joined:
    Jan 18, 2005
    Location:
    Alta Loma, CA
    #20

    You can, yes. Assuming that the seller never uses the account again.
    This happened to me with an auction once. I never got the item so I went to paypal and filed a complaint. I won the dispute, but there was no money in the guys account. (Refund was about $150) Almost a year later, I did get the refund. The first time the guy had more than $150 in his account, PayPal pulled it out and gave it to me.
     

Share This Page