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10-11-2003, 03:32 PM
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#1 (permalink)
| | Registered User
Join Date: Oct 2001 Location: So. Californication
Posts: 1,659
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PayPal N00b
Ok, so I finally decided to open a PayPal acct. Now, I have many questions regarding this. SHould I give paypal my acct number.....what advantages disadvantages are there. Should I at any time keep money in my PayPal acct or should I immediately transfer it into my bank acct? What advantages/disadvantages are there of me providing them with my cc#...does that give me instant transactions???(Without having to wait a few days to upload money from my bank acct to PayPal.....?)
And if you've got any tips for me to stay as secure while using PayPal I'd really appreciate it too 
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To fry or not to fry...oh what the heck, let it fry :)
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10-11-2003, 04:32 PM
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#2 (permalink)
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Join Date: Jan 2003 Location: New York
Posts: 1,588
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I think you have to give them your SS # if you want instant transactions.. to "verify your identity"
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10-11-2003, 11:28 PM
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#3 (permalink)
| | Registered User
Join Date: Oct 2001 Location: Georgia
Posts: 2,233
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Tell you what... You give me $1000 bucks, and I will open a PayPal account for you for $500 bucks..and hold the other $500 for the problems you will face while using that service.
In other words, I wouldn't use PayPal with your money!
If you do decide to use it, get a CC with your bank like a checking acct., and keep just enough in it from purchase to purchase to pay what you buy.
Even then, PayPal will screw you big time at one time or another.
There are not many who use PayPal that have not been stuck by the service.
There are no safeguards like a normal CC# has..so, beware...
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10-12-2003, 12:20 AM
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#4 (permalink)
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Join Date: Oct 2001 Location: So. Californication
Posts: 1,659
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thanks for the warning
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To fry or not to fry...oh what the heck, let it fry :)
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10-12-2003, 12:37 AM
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#5 (permalink)
| | Registered User
Join Date: Feb 2003 Location: Da Bronx, NY
Posts: 1,709
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wow!!!
I had to open a paypal account, made one transaction, and that was it. should cacel that account now
Hi son.
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10-12-2003, 01:19 AM
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#6 (permalink)
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Join Date: Aug 2003 Location: The Promised Land
Posts: 516
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Depends on why you want an account. Online banking, and money transferring is probably here to stay.
Read the FAQ for paypal to get an idea of how much you need it.
Paying with paypal via a credit card is not "verified", the card might be fradulant, therefore most vendors will not accept credit card Paypal payments. You must accept responsibility for accepting non verified payments. Like, don't ship an item paid with a credit card via Paypal, until the transactions is cleared.
Paypal will not accept online gaming transactions.
The fees are high compared to other types of banking transactions.
For an olnile trader or Ebay seller, it is worth the effort to open a seperate checking account, and verify that account with Paypal. Transferring funds is then as easy as depositing or writing a check.
You can also get a Visa debit card with your "internet" checking account, keep a low balance, and surf and shop till you drop. Maximum liability for fraudulent transactions is supposedly $50, but a small balance will reduce your risk.
Just my .02
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10-12-2003, 08:01 AM
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#7 (permalink)
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Join Date: Jan 2003 Location: New York
Posts: 1,588
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About the only good use for it that I've seen is accepting payments over ebay... even then they burn you pretty good with fees, but it beats using paper checks
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10-12-2003, 08:54 AM
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#8 (permalink)
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Join Date: Mar 2002 Location: Ft. Walton Beach, FL
Posts: 4,056
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I learned from firsthand experience... PayPalSucks
Read on and learn for yourself!
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10-12-2003, 09:03 AM
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#9 (permalink)
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Join Date: Aug 2002 Location: Western PA
Posts: 2,296
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just to add some diversity...i have been using paypal for a few years now and never had any problem. knock on wood.
i buy and sell with it.
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10-12-2003, 05:08 PM
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#10 (permalink)
| | Registered User
Join Date: Oct 2001 Location: Ohio
Posts: 5,577
| Quote: Originally posted by Martoch
I learned from firsthand experience...
PayPalSucks
Read on and learn for yourself! | I haven't had any problems, but look thru this mentioned site at some problems others have had. I haven't and won't used PayPal's verification.
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