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Honored Contributor
Posts: 8,224
Registered: ‎03-09-2010

Re: Do you trust PayPal with your bank acct. information


@sidsmom wrote:

Wasn’t PayPal in the news several months ago...regarding privacy issues?


Not to my knowledge, but you can always google it!

 

I totally trust PayPal, and really don't like doing business with companies that do not use PayPal!  I have yet to have any problems with them, in fact, I have had to have them help me before!

Honored Contributor
Posts: 17,802
Registered: ‎03-09-2010

Re: Do you trust PayPal with your bank acct. information

They've had my bank acct info since whenever it was that Paypal began.  Never had an issue.  It's actually safer than using your accounts directly.  When I was a seller, I was required to have the info on my account.

 

I'm very careful with my personal account type info.  VERY!   I also keep a close eye on all my finances and other personal info and keep myself in control of them as much as possible.

 

Fortunately, ever since I changed to a new ISP two years ago I have not received a single spam email.     I hope I didn't jinx myself by mentioning it.  Smiley Wink

Respected Contributor
Posts: 3,869
Registered: ‎03-19-2010

Re: Do you trust PayPal with your bank acct. information

[ Edited ]

I have used PayPal for many years, connected to my bank account and credit card as secondary account.  Have never encountered any issues what so ever. However, your question does now give me food for thought especially with so many other companies getting hacked.   I am sure PayPal has had many attempted hacks, but no more than any bank or financial institution.  I imagine they would be out of business very soon if they didn't have a top notch security system. 

Esteemed Contributor
Posts: 6,249
Registered: ‎08-19-2014

Re: Do you trust PayPal with your bank acct. information

Absolutely not!!

Respected Contributor
Posts: 2,334
Registered: ‎03-13-2010

Re: Do you trust PayPal with your bank acct. information

@MsCatLuverno, I would never give PayPal my bank account information.  I have one credit card on there and that is it. I vote to have them put it back on your credit card.

 

I use PayPal a lot, have had it forever and think it is a great idea, but I trust no one with my bank info.  They wanted me to use my bank account a while ago and I would never do it.   With a credit card, I cancel and hopefully that ends it. But then is anything really safe today??!!!

Honored Contributor
Posts: 9,229
Registered: ‎07-15-2016

Re: Do you trust PayPal with your bank acct. information

No, not at all.  I use a credit card with a very low limit just for online purchases.  

Respected Contributor
Posts: 3,229
Registered: ‎03-09-2010

Re: Do you trust PayPal with your bank acct. information

No!

Trusted Contributor
Posts: 1,625
Registered: ‎03-09-2010

Re: Do you trust PayPal with your bank acct. information

I occasionally sell using PayPal.  I have it connected to a checking account that I don’t regularly use, and it only has a minimal amount of money in it. Haven’t had any problems so far. But I keep an eye on things.  

"I've been here since October 2006. Wow!"
Valued Contributor
Posts: 662
Registered: ‎06-04-2016

Re: Do you trust PayPal with your bank acct. information


@MsCatLuver wrote:

Hi All,

 

I have a PayPal (PP) acct, connected to my credit card.  I only use PP to pay for items -- I never sell anything so I never have monies coming into PP.  However, Mr. Rebates owed me $ and I opted for the money to go directly to PP rather than to receive a check (weird mail happenings lately in my neighborhood). PP did receive the money and I have these options: (1) keep the money in the PP acct. for future use: (2) apply the money to my credit card; or (3) have the money transferred into my bank acct.  I would prefer to have the last option #3 but I am wary of giving out my bank acct. info.  YOUR thoughts & replies are appreciated...did you or would give your bank acct. info to PP?   TIA


---

 

I have used Paypal for years without any issues, but if you have concerns, it seems your best option would be to keep the money in your account to apply toward future purchases. You would not then have to give any more information to Paypal than you already have given.

 

This assumes that you do not  need the money immediately, and that you use the account for purchases often enough that the money doesn't just "sit" in the account over a long period of time.

 

 

Esteemed Contributor
Posts: 7,829
Registered: ‎03-18-2010

Re: Do you trust PayPal with your bank acct. information

I do think Paypal is actually safer than giving your CC to various websites but I would not link it with my bank account info and here is why.

 

Credit: PayPal

To many users, PayPal, the world's most well-known online payment system, seems like an entirely secure method of sending and receiving funds. The company offers limited guarantees to both buyers and sellers, and also gives out security keys upon request.

But according to Robert Siciliano, McAfee consultant and identity theft expert, there are still ways you can lose your shirt using PayPal.

To ensure you don’t fall victim to a scam involving PayPal, Siciliano offers these words of advice:

Don't link your PayPal account to your bank account or debit card account.

"If your PayPal account is compromised, it’s money taken directly out of your bank account. But if you link your PayPal account to your credit card and it’s compromised, then you have 60 days to refute those charges with your credit card company," Siciliano said.

However, by federal law (Regulation E) you only have two days to refute a fraudulent charge with your bank.

 

http://www.nbcnews.com/id/42797988/ns/technology_and_science-security/t/ways-stay-safe-using-paypal/...

Those who make peaceful revolution impossible will make violent revolution inevitable.
JFK