PAYPAL con trick, watch for it

[QCPOTS]

crusales, the directive on moneylaundering does not state thet you must give them your bank details , to comply with the law you need to supply authenticated id , a copy of your passport/driving licence/ 2 forms of address id and a copy of your bank statement- you do not have to register your bank details only provide them with a certified copy of the documents. dont let them force you into registering your bank , you dont have to paypal policy or not it is not a legal requirement

right on there, directdvds, thats why they cant show me any, EU DIRECTIVE,, and why its not policy to send out a letter, stating they wont take out money without my express permmision,
like I believe that,

[lofty100e]

Presumably QC they don't stipulate that it has to be your Prime bank account, therefore you could open another current account and designate that as your paypal account.

If you have internet banking it is possible to move money 24/7 so you could empty your account as soon as the money comes in. Problem solved. Although I may have missed something, because I don't use Payp** for selling.

[QCPOTS]

Presumably QC they don't stipulate that it has to be your Prime bank account, therefore you could open another current account and designate that as your paypal account.

If you have internet banking it is possible to move money 24/7 so you could empty your account as soon as the money comes in. Problem solved. Although I may have missed something, because I don't use Payp** for selling.

Hi lofty, could but won`t, I the throught of having them go into my bank willy-nilly, taking money when they want to, but as I have said, 5 YEARS OF FUNDING MY ACCOUNT FROM MY CARD, then this lame reason for funding from my bank,
IF IT WAS GENIUNE, ( EU DIRECTIVE ), they should have no bother showing me, its their evasiveness to respond to my emails and not being willing to show the proof, that makes me believe they are telling porkies,
they got two alternitives last night,
restore my account as it was, or its closed,

[lofty100e]

I know what you mean QC. I'm currently dealing with a well-known finance company who make up the rules as they go along and then wonder why I refuse to deal with them over the phone.

Personally I only use PP to buy, I've heard too many horror stories about charg-backs and extortionate fees to get involved further.

My preference for on-line payments is eggpay, it is free to use, unfortunately it is only available to use in the UK. Also it is not available for companies to use.

[forzaauctions]

I also been using Pay Pal for 5 years I opened a bank account specifically for that reason and usually don't keep much money in that account! They can't take any money if there isn't any.
Make sure you ship your items with a tracking number. I hear all these horror stories but fortunately for me I have none for Pay Pal. Also include all fees in your shipping price!

I left feebay after a ( 6 accounts @ 100% + FB , of 1,000)somewhat lucrative business. They are getting out of hand , they have to stop playing GOD and listen to their customers!
If you have no sellers, you have no buyers!!!!

[bid5]

I've had two cons by Paypal:

1) I brought an item off (sorry for swearing) , but Feebay for £10.

A month later I got an email from Paypal saying that in that month they had accidently duplicated payments, but not to worry as they had refunded it.

I logged into my Paypal account and thy had refunded me -£10 which actually put me £10 in debt to them, they then in the same transaction managed to refund -£10 to my bank and charged me their standard fee (approx 34p) that they charge for withdrawls under £50. So all in all I paid £10 for the item, got charged £20 and was also a further £10 neg balance, so a £10 item cost me £30. They then started the "you don't clear your debt in 90 days we will suspend you " email. Eventually I ended up having to fund £10 to my account to keep the account open.


2) A couple year back Paypal decided that they needed to do a regular security check. This would involve charging £2 to my credit card, don't worry thoughcause I would get it back, they would kindly credit £2 to my Paypal account. To get back the £2 you would either have to pay them 34p to withdraw it or use it towards purchasing something with Paypal for which they would make 3.4% off the seller.

Take both of these situations into account and think how many million customers they are doing this to, a lot of money.

[BridalStudio]

I also registered bank details with them some years back now, and haven't had a problem...When my paypal account gets to a certain level, I transfer it to my bank account...If I want to pay online for something I use my own credit card...Therefore, there is no reason why they should even want to draw from my account...It wouldn't happen anyway, because they would be long gone if I even had an inkling thats what they intended to do...That was a lot of rabbiting, wasn't it!

[craigmezza]

i have registered my 2 banks from day 1 with paypal, witch is over 2 years now, i have not had any problems with it at all, they only take money out of bank if i instruct them to.

Thought it may help a few people.



http://uk.ebid.net/stores/MezzasCarElectronics

A selction off car Audio Equipment

http://uk.ebid.net/stores/Mezzas-Commercial-Appliances

A Selection of Commercial Electrical Appliances

[QCPOTS]

Just want to bring you up to date with this on going sager
As you read, this £4,500 was over 5 years and around 600 transactions ,
My bank details are registered, as that’s where the incoming payments end up,
We are sending you this notice because you have received more than 4,500.00
GBP in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money
Laundering regulations to collect information from customers when they
receive more than the set limit in total payments. Please log into your
account, go to the Account Overview page, and follow the instructions there
about how to provide the required information. These steps need to be
completed as soon as possible to comply with this regulation.
As a result of the above, I asked them to show me the EU DIRECTIVE that they had to comply with.
AND THEY SENT ME THIS,

PAYPAL, Inc
DOMESTIC ANTI-MONEY LAUNDERING
AND BANK SECRECY ACT
COMPLIANCE POLICY
A very lengthy document, which had no bearings on UK CUSTOMERS AT ALL
Below is the three thing I was requested to do
9 Feb. 2007 Set up Bank Funding Waiting for your response

9 Feb. 2007 Validate your Account Information Information Submitted
9 Feb. 2007 Provide Business Information Information Submitted

It’s the 1st that I will not do,
Set up bank funding, as said previous, they have my bank details, paying that amount of money in verifies that its my account,
And for five years funding my paypal account from my credit card has worked well for me,

THE TRICK IS, ONCE ITS SET UP TO BANK FUNDING, YOU GIVE PERMITION FOR PAYPAL TO TAKE MONEY FROM THE ACCOUNT,
That applies also to clawbacks, justified or not,
And unlike a credit card, where you tell them to get the payment back, AND THEY DO,
This does not happen with bank funding,
AND my account remains restricted still

IF any one wants to see the full document, PM, me with your email address, and I will send it to you

[QCPOTS]

Just want to bring you up to date with this on going sager
As you read, this £4,500 was over 5 years and around 600 transactions ,
My bank details are registered, as that’s where the incoming payments end up,
We are sending you this notice because you have received more than 4,500.00
GBP in total payments to your PayPal account.

PayPal is required by law to comply with European Union Anti-Money
Laundering regulations to collect information from customers when they
receive more than the set limit in total payments. Please log into your
account, go to the Account Overview page, and follow the instructions there
about how to provide the required information. These steps need to be
completed as soon as possible to comply with this regulation.
As a result of the above, I asked them to show me the EU DIRECTIVE that they had to comply with.
AND THEY SENT ME THIS,

PAYPAL, Inc
DOMESTIC ANTI-MONEY LAUNDERING
AND BANK SECRECY ACT
COMPLIANCE POLICY
A very lengthy document, which had no bearings on UK CUSTOMERS AT ALL
Below is the three thing I was requested to do

9 Feb. 2007 Set up Bank Funding
Waiting for your response
9 Feb. 2007 Validate your Account Information Information Submitted
9 Feb. 2007 Provide Business Information
Information Submitted

It’s the 1st that I will not do,
Set up bank funding, as said previous, they have my bank details, paying that amount of money in verifies that its my account,
And for five years funding my paypal account from my credit card has worked well for me,

THE TRICK IS, ONCE ITS SET UP TO BANK FUNDING, YOU GIVE PERMITION FOR PAYPAL TO TAKE MONEY FROM THE ACCOUNT,
That applies also to clawbacks, justified or not,
And unlike a credit card, where you tell them to get the payment back, AND THEY DO,
This does not happen with bank funding,
AND my account remains restricted still

IF any one wants to see the full document, PM, me with your email address, and I will send it to you