How safe is PayPal?

[Bill1]

how safe do you think is paypal? is it wise to keep large amounts of money to keep in your pp account if yes how much ?

Thanks
Bill

 

[.edu]

Not safe at all. Most people that use paypal either have a bank account or credit card or both even connected to their paypal account. Even if you had no balance and somebody hijacked your account, they can still use money from your other sources of funds. Just be extra cautious and use common sense from like fake emails and stuff and you don't really need to worry getting your account ripped off.

 

[bensontwenty]

Normal online safety rules apply to Paypal - just be careful and watch the URL to make sure it is a genuine paypal site. Never send your password in response to an email from 'paypal' etc

 

[Bill1]

thanks for the tip
if all these rules are followed how much do think is safe to keep there ?

 

[bensontwenty]

Don't keep more than about 50 - 100 bucks in there Bill, or just make sure you never have more than you can 'afford' to lose if you know what I mean - an amount that you would be p*ssed to lose, but that wouldn't cos you a problem financially

 

[Bill1]

wow and i thought it was safe to keep money there any incidents like this happened with anyone where money was gone?

 

[Zero-Life]

my friend got 300 bucks stolen from his mom on it. he was prolly an idiot though and gave the password away in an email.

 

[bensontwenty]

In general it is safe to keep your money there Bill - why I limit the amount of money I keep there is more because of paypal itself.

If anybody makes a complaint about you to them for ANY reason, they suspend your account and you get put through hoops to get your money back.

I don't know anybody that has had their account hijacked but i do know quite a few people that I do business with regularly that have had their accounts frozen by paypal because somebody complained about somthing petty - it then took them months to get access to their money again - all the while paypal earn interest on YOUR money - another reason why i do not keep my account loaded

 

[Bill1]

Thanks for all that valuble feedback guys i really appreciate it

 

[eSology]

I have heard about people getting their accounts locked before. Does that mean that can't still receive funds? That would really hurt if you couldn't receive payment. I might understand them freezing some funds but comletely shutting down an account for two months?

 

[Peter]

the fact that paypal is owned by ebay should make you dubious.

I do use paypal but it is really out of nesesity (i know spelt wrong).

Ebay do not seem to care about hack attemps etc, last year my ebay account was hacked and bids placed on an item I of course changed my password and within 5 minutes another bid was placed. I of course checked my pc for the ussual.

I then proceeded to phone ebay (after a few hours of searching for a phone number they dont publicise their numbers they only want contact via email) and the so called tech guy on the other end of the line didn't seem to think it was a security issue.

i just hope they dont use the same logic on paypal.

Originally posted by acts837
I have heard about people getting their accounts locked before. Does that mean that can't still receive funds? That would really hurt if you couldn't receive payment. I might understand them freezing some funds but comletely shutting down an account for two months?

I have heard of this happening if they think the account has been used for fraudulent activities even when aparently it isn't but I have only heard 3rd hand stories.

 

[Raf]

To tell you the truth PayPal is pretty safe as long as you obey the rules. I havent had any problems yet, but I dont think I will. Don't put too much within your account just for security purposes. Hope that helps.

 

[Tippy]

I've never had any problems with PP but I wouldnt/dont keep too much $ in there just incase... I've heard a few horror stories about peoples accounts being frozen along with their moolah...

Mike

 

[dnslife]

www.PayPalSucks.Com

 

[CoolGuy]

Never keep more than about 100 dollars in paypal
I only keep 50 at all times.
Paypal itself can steal your money from time to time.

 

[jj2ii3344]

I would not keep more than $300 in my Paypal account because I have heard many horror stories whereby Paypal freezes your entire account (including your money) for no apparent reasons!

 

[Bill1]

lol and i was thinking abt keeping 5000
i am glad i posted this thread

 

[g0ldy]

Paypal is bad, i never keep more than $100 in there

 

[AdoptableDomains]

My own rule is to transfer out when I reach $500. I've never had a problem, but then again they are NOT a bank and not insured by FDIC. There are a number of horror stories out there, but I'd guess the majority were stupid mistakes on the part of the user in giving out login info through scams, viruses, or stupidity.

Use strong passwords and change them occassionally. Also, beings so huge, they are a target for scammers and theives. Don't even click an email from them or supposedly from them. Always enter the URL in your browser address yourself, or at least verify the URL is in fact theirs and a secure connection.

 

[Anthony]

Some of you may find this news article about identity theft and Paypal interesting:
http://msnbc.msn.com/id/4264051/