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> Almost all horror stories you hear about PayPal involve the user treating PayPal like they were a bank That's something I noticed many years ago when PayPal
by TillE 4y ago
> Almost all horror stories you hear about PayPal involve the user treating PayPal like they were a bank
That's something I noticed many years ago when PayPal complaints were big on Slashdot, and I was confused about why anyone would be leaving significant sums in their PayPal account. They've always made bank transfers pretty easy.
- rkagerer 4y agoThey've always made bank transfers pretty easy. Unless you prefer not to link your PayPal to a bank account. There are horror stories out there of PayPal making bank withdrawals customers feel they didn't authorize. I wish you could get them to just simply mail you a cheque to get your money out.
- mcherm 4y agoYears ago I found a solution to this problem I was comfortable with. I opened a separate (no fees) bank account just for linking to PayPal. I keep almost zero balance in that account except when I am in the process of moving money into and out of PayPal.
- mastax 4y agoeBay forced me into this when they didn't support verifying with my existing bank, so I opened a new checking account just for these services. I wanted to be mad about it but the eBay customer service rep was really surprisingly helpful, and it's probably a good thing to do anyway.
- silisili 4y agoI'm one of them. Paypal kept preferring my bank account as the means of payment, -even- when not set as the default behavior. I forgot the reason now, but in short default only means default for some things. I don't know if they've fixed that in the years since, but I've not linked a bank account since.
- Semaphor 4y agoNot sure about the US situation, but if PayPal withdraws money from my account for no good reason, I’d simply reverse the charge (2 clicks in my online banking). They can then sue, but that situation would happen if they want your money and can’t withdraw it anyway.
- jrockway 4y ago> They can then sue, but that situation would happen if they want your money and can’t withdraw it anyway. Can they sue you or do they have to use binding arbitration? (I just find it interesting because you certainly can't sue them.)
- Semaphor 4y agoI actually don’t even know if I can sue them because I couldn’t find out if binding arbitration clauses in contracts for consumers are legal in the EU and Germany ;)
- alexanderchr 4y agoAt least in Sweden such clauses are unenforceable. Would assume it’s the same in most of Europe.
- super256 4y ago> I’d simply reverse the charge (2 clicks in my online banking). What bank do you use? I'm with one of those neobanks(n26) and they make me talk to customer support first.
- Semaphor 4y agoThe same, but I have an "Initiate Refund" button.
- ilyt 4y agoOh, right, cheques still exist... I use banking for 15 years and haven't seen one in person here.
- Symbiote 4y agoIn countries without cheques, we don't have the problem of PayPal taking control of a bank account.
- rkagerer 4y agoDid you mean with cheques?
- Symbiote 4y agoNo. In the European countries which no longer have cheques (or where they are very rare), the electronic banking systems have strong regulations which should prevent major problems from PayPal having access to a bank account. If PayPal take money from my account and I don't like it, it's a few clicks in online banking, or a phone call to the bank, to reverse the transaction and block any future transactions. It is the same system as used for an electricity bill, where a variable amount is collected each time.
- Rebelgecko 4y agoPayPal used to have higher interest accounts than pretty much any bank