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They love to debit any linked bank accounts to pay any fees or clawback any money so they can freeze it. And PayPal requires you link an account for verificati

They love to debit any linked bank accounts to pay any fees or clawback any money so they can freeze it. And PayPal requires you link an account for verification now. So it isn't really practical to use it as you describe - you're giving yourself a false sense of security.

cwkoss 4y ago
Ah, i've avoided them for over a decade now - but that does sound very concerning. Sounds even worse than the issues that made me abandon them originally (seizing on-paypal funds and preventing withdrawal via making verification process broken and obtuse)
regular 4y ago
But will they know if you close the bank account that was previously verified?
midoridensha 4y ago
>They love to debit any linked bank accounts to pay any fees or clawback any money so they can freeze it. >And PayPal requires you link an account for verification now. What's the problem here? If you give them access to your main bank account, you're an idiot. Just set up a separate account for the sole purpose of linking to PayPal. You should do the same for any case where you need to link a bank account to an external entity.
- jlkuester7 4y ago
  You guys have money in your bank accounts?
kelnos 4y ago
> And PayPal requires you link an account for verification now. Interesting, I wonder if this is only for new accounts? I've had an account for a good 20 years now, and I don't have a bank account linked, only credit cards.
- ridgered4 4y ago
  My experience was you can unlink them after the account is up and running, but then you can't get any money out of there. (except by paying people with paypal of course)
throwaway290 4y ago
How exactly are they able to extract money from your account just from having account number and your name? Does this mean I can, too? (I assume you don't give them your password, and even then an outgoing transaction requires an OTP.)
- Gasp0de 4y ago
  It depends on what country you're in but in Germany this is possible. Businesses can just withdraw from your account. You can dispute this for a number of weeks though and can get it back. The business then needs to prove that you authorised them to withdraw the money.

cwkoss 4y ago

Ah, i've avoided them for over a decade now - but that does sound very concerning. Sounds even worse than the issues that made me abandon them originally (seizing on-paypal funds and preventing withdrawal via making verification process broken and obtuse)

regular 4y ago

But will they know if you close the bank account that was previously verified?

midoridensha 4y ago

>They love to debit any linked bank accounts to pay any fees or clawback any money so they can freeze it. >And PayPal requires you link an account for verification now. What's the problem here? If you give them access to your main bank account, you're an idiot. Just set up a separate account for the sole purpose of linking to PayPal. You should do the same for any case where you need to link a bank account to an external entity.

jlkuester7 4y ago
You guys have money in your bank accounts?

kelnos 4y ago

> And PayPal requires you link an account for verification now. Interesting, I wonder if this is only for new accounts? I've had an account for a good 20 years now, and I don't have a bank account linked, only credit cards.

ridgered4 4y ago
My experience was you can unlink them after the account is up and running, but then you can't get any money out of there. (except by paying people with paypal of course)

throwaway290 4y ago

How exactly are they able to extract money from your account just from having account number and your name? Does this mean I can, too? (I assume you don't give them your password, and even then an outgoing transaction requires an OTP.)

Gasp0de 4y ago
It depends on what country you're in but in Germany this is possible. Businesses can just withdraw from your account. You can dispute this for a number of weeks though and can get it back. The business then needs to prove that you authorised them to withdraw the money.