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Paypal

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jeffcat

10-02-2004 23:39:20




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Do you folks out there know that Paypal has a spending limit? I have used it for about three years and have a PERFECT pay and FEEDBACK account with over 75 buys. A couple of days ago I get an Email that I must verifiy with a bank account because I am about $450 from my $2000 limit. This is some sort of deal that when you first open the pay acount the money clock is running. They make their money from the seller, how do I fit in here? I DO NOT want to give ANYBODY my bank accout # and still don't see why they need it. I do not plan to buy a car, boat, house, land, space shutle ETC. Does anyone know the deal?
Thanks Jeff

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Gatz

10-13-2004 11:30:38




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
The experiences I've had with PayPal are postive for the most part. I dont see these "verification requests" as a scam, but to be on the safe side, do it by accessing your account and making the necessary changes; dont reply to the email.
Here's my take..... .this recent thing about having a person submit a bank account number "for backup" is their way of making sure the transactions are not cancelled if someone recives an item, then quickly cancels the credit-card payment. Once a bank account number is given to PayPal through the online setup in eBay, if you'll notice, the default method of payment is through the bank.
When making payment, you can change this to your preferred credit-card; but you must do this EACH transaction.
A bit of a hassle, but after a few dozen transactions and using credit-card only, I've not had any problems.
I've emailed PayPal last week (10-6)and asked them why the default had to be the bank and NOT credit-card. They just replied "that's the way it's set up"
It doesn't take much imagination to see why PayPal prefers that you set up a "cash account" and keep a balance in it. It allows them to make interest on your money that's not being used.
As far as this being an ethical practice, who knows?
Gatz

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Can't even use my name

10-04-2004 21:25:56




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 That is a bogus email!! in reply to jeffcat, 10-02-2004 23:39:20  
Forward that email to [email protected]! as it is a fake. I know it looks awfully real but I assure you it is fake!



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Big Jim

10-03-2004 20:00:09




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Do you realize that every time you write a check, you give everybody that sees that check the same exact information that PayPal wants on file?
Your account number and bank routing number is in that MICR line on the bottom of our checks. I've done several hundred transactions with PayPal and not had any troubles. I always keep next to no money in the PayPal account because, if somebody bitches, they can freeze you account unntil it gets resolved to their satisfaction. Freezing up a couple of grand could be a big problem, freezing up a buck and a quarter is not.

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T_Bone

10-03-2004 17:26:27




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Hi Jeff,

I would never use a thrid party biller.

1) It drives up the cost of goods as now you have another middle man to pay.

2) I just can bet when all goes to heII and a credit needs to be issued thru the CC dispute function, it gets messy real quick.

Out of my past 10 orders on the net, I've had two net companys overbill charges on my CC. Even with dealing direct with my Visa card it takes some time to resolve the issue. Throw in a thrid party biller and the credit would take along time.

T_Bone

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lucas1234

10-03-2004 17:22:36




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  

i would like to add, if you buy something using paypal, allways use yor credit card and not your paypal balance. if you get the shaft,your credit card people can do a chargeback and get your money back.the whole paypal buyer-seller protection plan is a lie, lucas



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Nebraska Cowman

10-03-2004 17:15:27




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
DON'T EVER REPLY TO EMAILS WANTING YOU TO VERIFY YOUR ACCOUNT... IT IS A SCAM. AND YES I AM SHOUTING. I got an email just this morning from "eBay safeharbor" yeah right... just for fun I cut and pasted the url numbers that showed up in the toolbar... guess what? it was for some foriegn site written in spanish. DON'T EVER REPLY TO EMAILS WANTING YOU TO VERIFY YOUR ACCOUNT... IT IS A SCAM.



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JT

10-03-2004 16:30:15




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
I buy a lot of little stuff. I got around their stupid spending limit. I opened another paypall account. With a different credit card. Problem solved. I will not give out my bank info either!!!



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DH in Carolina

10-03-2004 16:03:35




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Update I went to paypal site and they no longer have a paypal credit card. They now offer a atm/debit card from Paypal but they want you to give your bank account information in order to get the card. All this has changed since Ebay and Paypal became the same company. I would not put my bank information online either. I than went to Paypal Visa and they no longer issue new cards under the Paypal Name. Sorry for the wrong information. Danny Hearl

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George G

10-03-2004 09:05:41




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
If they are asking you to click onto a link. Then it's a fraud. Ebay or Paypal never ask you to click a link from an email. As Bob said, open the email "don't click on the link" you will see options you can do with the email. One option is to Forword the email. Click on that. Now in the box where it says "Send To" put this address [email protected] then send. I hear back from them in less than a hour most of the time. Better safe than sorry.

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DH in Carolina

10-03-2004 08:59:42




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Hello You can get around that $2000.00 spending limit by getting a Paypal credit card. You do not have to set up a bank account and if you use the Paypal credit card it, any thing you buy is charged against that card and not against your spending limit. Click on Paypal and apply. I have been buying from Ebay since 98 and haven't had a problem. I do get emails that say I need to update, change my password, or have reached my spending limit. I just forward them to [email protected]. Paypal will never send a email addressed Dear Paypal User. If they send a email it is always addressed to your first and last name. Hope this helps. Danny Hearl

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Coloken

10-03-2004 09:26:15




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 Re: Paypal in reply to DH in Carolina, 10-03-2004 08:59:42  
Thanks Danny. Will look into that. To all you others that mean well. We know about the scams. We are not talking about them. We are talking about some thing else. How to reset our spending limit.



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Bob

10-03-2004 10:59:54




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 Re: Paypal in reply to Coloken, 10-03-2004 09:26:15  
Call me a Luddite, if you want, but I've never had trouble with PayPal, because I don't use it.

Generally, I don't need anything that badly that I cannot wait the couple of extra days that it takes to use a Postal MO. And you have some chance of help from the Postal Inspection Service, if there's ever a problem.

And, I've found that sometimes when sellers can't wait a couple of days for a MO, that there may be a reason behind that, also.

Just my humble opinion!

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Another Jeff

10-03-2004 08:07:43




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
It is NOT a scam. Paypal will let let you open an account solely on your credit card but then after $2000 you must register a bank account with them. Go to the Paypal site under "user agreements" 6.1 tells about the spending limit. I must say it is wise to be very suspicious of any e-mail asking for any personal information. Best line of defense is to NEVER click on any link in a suspicious e-mail and instead go to the site directly to update or supply personal information.

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Mark - IN.

10-03-2004 08:07:17




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Good morning Jeffcat. Bet a dollar to a dime says that your credit card company issued you a new credit card (new expiration date). On the back will be a 3 digit code to the far right that differs from your old credit card. Paypal, or whomever tries to make a charge using the old 3 digit number, and your credit card company sees it as invalid, and says "nothing doing".

Has happened to me. Can't recall the fix though, just know it's happened. Newly issued credit card lately? Might have just have to update with Paypal to reflect the new security code.

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Mark - IN.

10-03-2004 08:11:48




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 Re: Paypal in reply to Mark - IN., 10-03-2004 08:07:17  
Well, now after reading the other posts, could be a scam.

Email paypal, but not to the address that you recieved the email from. Do it through Ebay.



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Bob

10-03-2004 07:59:46




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
FORWARD the COMPLETE email to: [email protected]

They will get back to you within 24 hours, or so, and let you know if the email is legit, or not.

I have NEVER HAD a Paypal account, yet I get such "spoof" emails all the time, trying to get bank or credit card information.



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Coloken

10-03-2004 07:05:26




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Yes Jeff, me too. I am down to less that 100 dollars. Hey you others fellows, Allan etc....you yelled a little too soon this time. Yes there are scams that try to get you to answer them but in this case its something else. Let me try to explain. When you set up Paypal using your credit card they give you a limit of, I think it was 2000. They make money, the seller makes money and the credit card makes money. But Paypal keeps wanting you to be "registered"
set up a bank account with them. That I will never do. Now after several years and many perchases, I am running out of my "limit". It would be to every ones avantage if they renewed it, but they are putting on pressure to "register" me. I think the only way around it is to start over with a new account. Jeff, if you come up with an answer let me know.
Kenny

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Allan in NE

10-03-2004 07:26:18




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 Re: Paypal in reply to Coloken, 10-03-2004 07:05:26  
Heck Kenny,

You know me, I always yell wayyyyy too soon. It's what I do best! Last time I checked, I was getting a correct to bad ratio of about 1:25. Not bad for a really old, broken down, buck-toothed farmer! :>)

But, let me clarify my side of the coin:

If you had it set up this way and your limit is reached, it most certainly will bounce when you are in PayPals's site. You will then be notified while you are on line and you can make the necessary adjustments from within that secured site.

The point I am trying to make, is not "trust" any of these emails and then just blindly go into the link provided because it could so very easily be a spoofed link. There are sooooo many scammers out there.

Not arguing with you one little bit on this point; just with the methodology of the task at hand. Why not just wait 'til a PayPal transaction actually bounces on you and then 'fix' it? :>)

Allan

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Coloken

10-03-2004 08:09:27




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 Re: Paypal in reply to Allan in NE, 10-03-2004 07:26:18  
Hey ol buddy as far as I am concered you run about 110 percent as they say in futball.
Yes it is right to warn people..there are scams every where. This thing with Paypal..you would never know it was there unless you bought a bunch of stuff and "used up" your alotment. To go ahead and try to pay and have it bounch would mess up years of a 100 percent reputation record. I would think that they would "renew" my account it I could convince them that it was that or nothing. I don't do enough with E-bay to set up a bank account just for that. Using Paypal is so nice..I don't send my credit card to every tom, dick, or harry, and it doesn't take two weeks to round trip money orders.

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Bob

10-03-2004 11:02:57




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 Re: Paypal in reply to Coloken, 10-03-2004 08:09:27  
Why do you say it takes 2 weeks to "round trip" money orders? You can get mail to any place in the country in just a few days, and the recipient can cash the Postal MO right at the Post Office (as well as banks, etc.).



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jhill

10-03-2004 05:15:22




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
It is something Paypal Wants you to do. I set up a bank account I only use for paypal and I only keep a minimum amount of money in it. Most people I know have done the same thing. Banker said that is the way many people do it.

Paypal will communicat with you but will instruct you to go to their web site and make necessary changes. I go in thru Ebay so I knoe I am at the correct site.



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Allan in NE

10-03-2004 04:23:44




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 Re: Paypal in reply to jeffcat, 10-02-2004 23:39:20  
Jeff,

That is a total scam.

Don't answer any emails from any so-called 'Pay-Pal customer support' or 'ebay support'. Ignore that email.

Neither Pay Pal nor Ebay send out emails. Somebody wants a free ride on your bank account.

Just my view,

Allan



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rustyfarmall

10-03-2004 05:11:33




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 Re: Paypal in reply to Allan in NE, 10-03-2004 04:23:44  
Allen is correct, never answer any of those e-mails.



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TR

10-03-2004 06:22:22




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 Re: Paypal in reply to rustyfarmall, 10-03-2004 05:11:33  
Its a scam..... ....I've gotten before too. Copy/paste message and send to PayPal and they will explain. They will tell you they will NEVER ask you such stuff. They Paypal/ Ebay have a legal dept trying to nail these people doing this stuff.



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