Subject:
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Re: More PayPal questions
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Newsgroups:
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lugnet.market.shopping
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Date:
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Sat, 27 Jan 2001 03:14:29 GMT
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Viewed:
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313 times
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PayPal cannot freely withdrawal money from your bank account. All
electronic transfers have to be authorized, and the only one who authorizes
the transaction is you. They merely setup the electronic connection to do
so. I understand you may be nervous about this, but it's common practice
everywhere in financial services, and at no time does PayPal have the right
to just take money out of your account.
-- Scott
In lugnet.market.shopping, Brad Hamilton writes:
> Hi,
>
> I just activated my PayPal account.
>
> It appears to have a limit of $250. In order to raise this limit, they want
> me to provide my bank account information. Obviously, I'm hesitant to do
> that since they could freely withdraw all my money.
>
> Is there some other way to raise the (apparently cumulative) limit? If I
> send them a check, will they add that?
>
> I've thought about opening a token bank acount so they can "validate" me
> without taking risk, but this sounds like a big hassle.
>
> Any help on this issue?
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Message is in Reply To:
 | | More PayPal questions
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| Hi, I just activated my PayPal account. It appears to have a limit of $250. In order to raise this limit, they want me to provide my bank account information. Obviously, I'm hesitant to do that since they could freely withdraw all my money. Is there (...) (24 years ago, 26-Jan-01, to lugnet.market.shopping)
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