Ebay and PayPal BITE me. A cautionary tale! Anyone near East Fulton Tennessee?

[eddie]

do i understand this correctly, you can not remove your bank from paypals list? is the only way to keep them off your money to close the account?

i have a separate paypal only bank account that i keep no money in....so what you are saying is they will go there and try and get iut and if they can not i will receive a bounced check charge? did your bank give you any problems closing the account that was hooked to paypal?

can you have paypal only linked to a CC?

thanks

eddie

[walter23]

Wow, that's really annoying. Hope you get it sorted out.

[Steve M Hostetter]

Hello Eddie,,,,,

yes the only way was to close out the account.. bank asked me right up " did you give paypal your bc number "? yes because I needed paid. they said I needed a seperate account but that account will need a decent amount of $$ in it or yes you will find they will cause overdraft charges...

Bank changed my account with no problem and even transfered what little $$ i had to the new account..

[Brian Vuillemenot]

can you have paypal only linked to a CC?

eddie

No, Pay Pal will only let you use their service if you give them your bank account information and full access to all the funds. You can select to use a credit card every time you pay, but you have to specially select the option, and they discourage it and make it somewhat hard to do. That way, Pay Pal doesn't have to pay any credit card fees and they just suck the money right out of your account for free, although they still screw the user with the same fee. And now E-Bay will not allow anyone to pay by check or money order to force them to use Pay-Pal so they can get even more money. Yet E-Bay still keeps raising their fees, now up to something like 13% between E-Bay and Pay-Pal for a site and service that's been around over a decade and should be pretty much self-running. Where's all the money going?

Sorry to hear about your situation Jim- I hope it works out. It seems like dissatisfaction with E-Bay and their evil sidekick Pay-Pal is on the rise among both buyers and sellers. If they don't clean up their act, perhaps E-Bay will soon implode.

[Wallace_Billingham]

do i understand this correctly, you can not remove your bank from paypals list? is the only way to keep them off your money to close the account?

i have a separate paypal only bank account that i keep no money in....so what you are saying is they will go there and try and get iut and if they can not i will receive a bounced check charge? did your bank give you any problems closing the account that was hooked to paypal?

can you have paypal only linked to a CC?

thanks

eddie

Paypal uses the ACH (Automated Clearing House) as a means to transfer money to and from users. The ACH is used by banks in the US as means to transfer money, if you have direct deposit or use any form of online payment system it is being processed by the ACH. Most of the ACH transactions in the US are processed by the Federal Reserve and the

When you sign up for Paypal you give them the authority to use the ACH to hit your bank account, since the ACH is an automated system they can just pull money in and out whenever they seem fit to do it. Since (in the US anyway) every bank account is linked to the ACH the only way to stop Paypal from hitting your account is to close the account and get a new account with a new routing and account number.

When used properly the ACH is a very efficient system, without it there would be no direct deposit, no debit cards, and no direct debit of payments with online bill paying.

Also most people don't know but you have a 60 day window in which to challenge ACH transactions under US Regulation E the clock starts ticking on that right away.

The EU uses a very similar similar system called Pan-Europe ACH.

Paypal ALWAYS wants to use the ACH rather than credit cards because it is far cheaper for them to do so as Visa and Mastercard hit them with a larger fee than the ACH does, that is why they make it very difficult to not use it

http://en.wikipedia.org/wiki/Automated_Clearing_House

[seawolf66]

Jim: I hope you have copied the actual ad you brought from and keep that also , But I would look up south fulton,Tn and see if they have a newspaper there and run a small advertisment about that lady get my drift, one goof turn deserves another : Lauren

[Jim Galli]

Yes, I used USPS Priority with delivery confirmation and insurance which was signed for. I erred not using the electronic signature confirmation.

[jwaddison]

No, Pay Pal will only let you use their service if you give them your bank account information and full access to all the funds.

I've never given PayPal any bank account information. All they have is a credit card number.

[Bruce Schultz]

I've never given PayPal any bank account information. All they have is a credit card number.

Me too. Just a credit card. No way in hell I'd give them bank info.

[Brian Vuillemenot]

I've never given PayPal any bank account information. All they have is a credit card number.

Me too. Just a credit card. No way in hell I'd give them bank info.

They let you just use a credit card at first. Once you've charged $2000 in purchases with them, if you want to continue using the service, they make you become a registered user, which involves giving them your bank account information.