Paypal Not As Secure As You Think

BAILIFFCHASER

For obvious security reasons i cannot disclose how unsecure paypal is. Regardless of how much they try and convince you that they are secure they are not. There are alot of loop holes pitfalls and despite them giving you various money back gaurantees and also buyer protection and so on. If you have had the unfortunate luck of dealing with them you will know exactly what i mean.

aeuerby

Would you care to elucidate?

frivolous_fay

Either you have inside information which you don't care to divulge, or you've had a bad experience as a paypal customer.

If it's the latter, this is not news. If it's the former, well, not much point posting!

If you have a problem we might be able to help with, do post details.

ellybelly89

https://www.paypalsucks.com reveals many stories. You can look there for advice too if needed.

BAILIFFCHASER

The reason is that when you sign upto pay payl they ask you for a credit/debt card number and a bank account and also a telephone number on which you confirm a 4 digit pin. Now for one minute imagine that security has been cleared. What would stop me from using the same number different card(the one i used cancelled) give them the number to a saving account(direct debit) and off i go again. also you do know that once you have set up a paypal account you automatically have a £500 credit limit which is instantly availabe and also they can only collect this via direct debit(use less if you canecel it) and again they will attempt to collect it by credit/debit card(again useless if cancelled). So there you go i am not a employee just dealt with someone for th same thing when i stumbled accross this. Also as the contract is not signed the cannot take you to court or even do you for fraud as no fraud has been comitted and you have only broken a financial agreement which does not exist. Also do not forget that once you have posted goods out paid via paypal the customer could always go back and claim that fraud has taken place on his account and gets to keep the goods and also gets to keep the money where a you loose the money and your goods.

Dave_Brooker

BAILIFFCHASER wrote: »

The reason is that when you sign upto pay payl they ask you for a credit/debt card number and a bank account and also a telephone number on which you confirm a 4 digit pin. Now for one minute imagine that security has been cleared. What would stop me from using the same number different card(the one i used cancelled) give them the number to a saving account(direct debit) and off i go again. also you do know that once you have set up a paypal account you automatically have a £500 credit limit which is instantly availabe and also they can only collect this via direct debit(use less if you canecel it) and again they will attempt to collect it by credit/debit card(again useless if cancelled). So there you go i am not a employee just dealt with someone for th same thing when i stumbled accross this. Also as the contract is not signed the cannot take you to court or even do you for fraud as no fraud has been comitted and you have only broken a financial agreement which does not exist. Also do not forget that once you have posted goods out paid via paypal the customer could always go back and claim that fraud has taken place on his account and gets to keep the goods and also gets to keep the money where a you loose the money and your goods.

Stories of paypal frauds are legion, the great thing about paypal is the scammers don't need to reveal their address, so no paper trail.

If you believe ebay paypal is the only safe way to pay and be paid....

BAILIFFCHASER

Exactly but people will still fight tooth and nail to be paid by paypal.

soolin

It is certainly the safest way to pay, it is the *only* way you stand any chance of getting anything back if the seller is a rogue. I always pay by paypal backed by a credit card just in case.

As a seller I am happy to accept cheques (despite having had problems with them in the past), postal orders and bank transfers, but accept that virtually all my buyers pay by paypal. Luckily in several thousand transactions I've had no problems with buyers yet.

BAILIFFCHASER

soolin wrote: »

It is certainly the safest way to pay, it is the *only* way you stand any chance of getting anything back if the seller is a rogue. I always pay by paypal backed by a credit card just in case.

As a seller I am happy to accept cheques (despite having had problems with them in the past), postal orders and bank transfers, but accept that virtually all my buyers pay by paypal. Luckily in several thousand transactions I've had no problems with buyers yet.

What you must not forget if a cheque bounces you have signed proof of it. Paypal is just a electronic unsigned trail. also you need one major fraudster to hit your account and that is it.

soolin

BAILIFFCHASER wrote: »

Exactly but people will still fight tooth and nail to be paid by paypal.

Makes my life a lot easier.

All my items that finished last night have been paid for and already sent this morning. Compare that to two buyers from a week ago (Sunday before last) who have indicated they are paying by cheque and who have not managed to do so yet. I know which I prefer. Those two buyers are a very small minority of buyers who choose to pay me by cheque, yet by some horrible co incidence neither have paid. I can either waste time chasing up the post office to see if I have problems with my post (again) or I can send them another email politely asking whether payment has been sent. Both of those choices mean I have extra hassle.

Everybody has their own preferred method of payment, as my time is worth money mine is paypal. However, I do understand why some people prefer cheques, so it is live and let live.

soolin

BAILIFFCHASER wrote: »

What you must not forget if a cheque bounces you have signed proof of it. Paypal is just a electronic unsigned trail. also you need one major fraudster to hit your account and that is it.

Sorry, I don't understand how that helps. If a paypal transaction gets held due to fraud I have as much prrof as I need to contact the person who I sent the item to and explain that I will be going to the courts/police.

When I've had a cheque bounce all I have is that bounced cheque and if it is marked 'refer to drawer' it cannot be represented. So again I have the hassle of going via small claims/the police. I see no difference in these scenarios except that in my experience I am more likely to get a bouncing cheque than a rogue paypal payment.