PayPal woes

[navpros]

Hi everyone. Been out-of-pocket last few days with a death in the family, but back in full swing now. Anyway, a personal friend of mine had his paypal account hit for $3200.00 last night which vanished without explanation. Just wondering how many of you have had similar probs in the past and how was it handled by paypal and what was the timeframe? He has contacted customer service and they are investigating the matter. Told him they would be in touch, but he is in "panic" mode right now as much of his business is conducted via paypal. I explained the importance to him of using the "transfer to bank account" feature at paypal which is what I typically do to avoid such problems. To date, I have never had one bad experience with them and I credit much of my success to transferring funds away. Anyway, just wondering if anyone would mind sharing a story so I can get an idea of how quickly it was handled by PayPal Customer Service.

Thanks in advance.

 

[Rob]

Terrible story. I know if that happened to me I would be deverstated.

Like you say, dont keep large amounts in PayPal. I always transfer to bank account.

Hope your friend gets this sorted.

 

[navpros]

Originally posted by Rob
Terrible story. I know if that happened to me I would be deverstated.

Like you say, dont keep large amounts in PayPal. I always transfer to bank account.

Hope your friend gets this sorted.

Aye. Perhaps he will get it sorted out quickly. Thanks for the comments Rob.

 

[Darkfire001]

I never keep more then $300.00 in my paypal account for fear of that happening to me.

 

[netPH]

wow, that's a huge amount of money... just without any explanations whatever... I've seen a large number of threads on the internet about that kind of incident... money just vanishes out of the vault. I'ts really a sad story....

can't trust paypal

 

[suthra]

3000+$ vanishedd./ Iam fainting.

Howz that possible?!. Did you see the account history?.


I dont even keep 300$ in paypal after reading paypalsucks.com


This experiencee of your friend gives me creeps.

 

[Anthony]

Oh, it disappeared from within his account? That's why I transfer my money out right away, even if its only $20.

Hope it works out quickly.

 

[dax]

Ever seen http://www.paypalwarning.com/ ?
After reading this, nothing seems so unbelieveble regarding PayPal.

pp-sux

PS: Read this also:
http://www.paypalwarning.com/SecurityWarning/Default.htm

 

[Blackpanther]

Yes this can happen tell him to change his paypal passoword and other passes and make sure his system was not hacked as this is the most common way that this happens..

Ive had a few problems with paypal myself nothing like this thoe but i have heard from people that have had this problem and its been resolved and they got all the money back but i believe it can take awhile which isnt really paypals fault i guess as it wouldnt be any different if it was your bank account tracing where the money went isnt hard its disputing it thats hard and and paypal have to dispute it on your behalf to try an recover the funds..

Hope it all works out fine and yes dont keep that much in your account its not wise..

 

[navpros]

Thanks for your comments everyone. It seems that after investigating the matter that someone did in fact access his account and transfer funds. It was traced to 2 people living in Australia and is being handled accordingly by PayPal. This is all of the info I have at this time, but will be sure to update you if I hear anything else regarding the matter. I have no idea where funds transferred but I am told that paypal is assisting with retrieving funds. All I know for now. Let this be a learning process for my friend. I also never leave more than about $20 in paypal.

 

[GTech]

I take extra precautions myself. I have online banking and can view multiple accounts I have through my banking.

Having said that, what I have done is, create two bank accounts. One is my primary account that my living expenses, etc are used for. The other is used only for paypal.

I can transfer money between my bank accounts, online, very quickly. To avoid this, only my second (paypal) bank account is tied to my paypal account. When I receive money, I transfer it to my bank (paypal) account. Once it's there, I quickly transfer it to my bank account that paypal does not have access to.

I've never had problems with paypal myself. I've never seen a million dollars either, but I know it exists

 

[Matt]

Exactly what I have wade. I "real life" bank account for rent/food/living/etc and a second purely for online trading.

Find it alot securer that way, plus, i dont do online banking

Rgds
matt
p.s. He should get it refunded. Just it does take time. My work collegue's g/friend had 400£ taken from her bank account from a spoofed bank card. It's a weird world we live in

 

[Wilfredo]

Probably a hacker, virus, or something else that the big Paypal theory people spreading.

Its not secure to have just a password and usrname away from controling youre thousands of dollars on the net today.

If you dont use the net with caution this can happen. Its not hard to steal a paypal account with a keylogger, virus och fake mail/site.

 

[DSL]

That sucks thanks for the alert!

 

[vwblubug]

Scary-- much to think about now

 

[jj2ii3344]

Luckily I still do not have such bad experience with paypal yet, but everytime I read a warning about them, it really gives me hear that it might one day happen to me. I personally think that Paypal is not that trustworthy.

 

[dx3k]

that one hell of alot hope ur m8 gets it back