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PayPal "hacked" my bank account.
This will be the second time I've changed my bank account to prevent Paypal taking funds from my bank.
The first time was when I opened an account so that I could receive funds from PayPal, eBay.
I had been paying for purchases thru PayPal using a credit card. I opened a checking account so that I could have funds from eBay transferred to my account. Once the account was connected, without my permission they took funds from my bank account instead of the credit card account I had set up with them.
My bank asserted they only way to undo that was to close my account, which I did.
A few years later, I decide to turn some coins into funds for audio gear. Now eBay forbid mentioning accepting or requiring payment via money orders. I sold a few items, prepared to let the funds sit for use for audio. It mounted up, so I called PayPal to find out about getting a check mailed to me. The customer service rep suggested a transfer to my bank account. I carefully explained that there was NO WAY! I would give PayPal access to my bank account. the rep assured me that PayPal would not keep the complete bank account number, in essence the last three digits of my account would be kept in a blind trust, only for use for transfers into my account. I set up the transfer, remembering to deny their requests to verify my bank account--that I knew would connect them to my bank account.
I called PayPal to find out why they had suddenly tried to take funds from my bank account instead of my credit card. Well. It turns out that if PayPal determines that my bank is an outstanding an reliable bank, they link to my bank, and withdraw funds!
I talked with PayPal by getting connected to their fraud department and wound up talking with a person who didn't have an Asian accent. It seems as if they only way to insure that PayPal cannot access my bank account, is to close it.
I checked my bank account and discovered PayPal has been taking funds from my bank account since the beginning of this month. It wasn't enough to incur any banking fees.
When I talked with PayPal America the rep offered a rebate to cover any banking fees.
SO. If PayPal can xfer in, they can xfer out of your account.
Best from Tucson
Bob
"He (R.M. Nixon) was a foul caricature of himself, a man with no soul, no inner convictions, with the integrity of a hyena, and the style of a poison toad." H. S. Thompson
Follow Ups:
Paypal always defaults to bank account funding. For every transaction, you need to tell it to charge your credit card instead, and sometimes it takes a second confirmation screen to make this change. Just read what you're agreeing to every time you use paypal. You get used to it pretty fast.
to that account for future use. They did it anyway. That is, at best, unethical and, at worst, illegal.
-Wendell
nt
Supposin. Now jest supposin, my post was about something unusual that I discovered. AND, that my intent was to highlight this unusual circumstance so that if this had happened to anyone else, they would be fore warned.
If that is what happened, where did your story about complaining come from, and what is your proscription for my life based upon?
I ask not for my benefit, your stories about me have no relevance to me. But rather, I ask for you to ponder where your stories come from, and their purpose?
After all, if you make up a story that I beat my wife and I live alone, where did your story come from?
Bob
"He (R.M. Nixon) was a foul caricature of himself, a man with no soul, no inner convictions, with the integrity of a hyena, and the style of a poison toad." H. S. Thompson
When you send money via Paypal, you have the option of where you want the money to come from, either a linked bank account, credit card, etc. You probably overlooked the choice to change where the money comes from. I would say this was your fault, not theirs as I don't see Paypal arbitrarily taking money from one's account.
A Paypal CSR concurred that there isn't a choice as it defaults to your bank account when you send money. You have to change it to your credit card. Why? Paypal gets their money instantly and w/o a service charge, the credit card would cost them about a percent I guess. (times a million a day is a lot) But the CSR said you should have a choice from the beginning not a default to remove from your bank account. I agree. I was allowed to use Paypal with only my credit card to buy with until I spent $2K, then they demanded bank info or my account couldn't be used. I too got stung on the bank wothdrawl and just had the retailer refund or cancel the transaction and then repaid via credit card. PAypal does this kind of stuff a lot like taking your money instantly when you pay but making you wait 3-4 business days when you ask them to give you your money. This is the power of a monopoly with no competitor.
ET
I thought it was time to change my signature line
Fault?
Believing that my unlinked, unverified account couldn't be accessed by PayPal is a fault?
If that is how this tale best fits into your life.......Well. OK.
I didn't make post the for either the approval or agreement of anyone.
"He (R.M. Nixon) was a foul caricature of himself, a man with no soul, no inner convictions, with the integrity of a hyena, and the style of a poison toad." H. S. Thompson
Yawn..............
My mother-in-law, after seeing the Levinson 33H amps in my listening room: "Those are the nicest electric room heaters I've ever seen".
Edits: 05/28/10
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