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Pay Pal Scams! Are they True?

Discussion in 'Other Off Topic Forum' started by Spasso, May 26, 2005.

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  1. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    14,656
    The fabulous PNW
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    Han Solo
    #1 Spasso, May 26, 2005
    I have heard a number of comments on this site about PayPal that got me wondering about the credibility of the company.

    I have read about failed disputes, locked accounts and confiscated money.

    I also read that PayPal is not regulated like a bank and not required to conform to Federal laws that an escrow company would be.

    I am rather concerned that they would have access to any of my accounts if I cannot effectively seek recourse in the event there is a dispute.

    DJ
     
  2. Dino 208gt4

    Dino 208gt4 F1 World Champ

    Jun 24, 2003
    14,868
    European Union
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    Roel
    #2 Dino 208gt4, May 26, 2005
    I have heard the same stories. Using Paypal now for 2 years and never had any problems with it. When doing international business you can't do without.
     
  3. sparky p-51

    sparky p-51 Formula 3

    Aug 8, 2004
    1,375
    klamath falls, Or.
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    steve
    #3 sparky p-51, May 26, 2005
    Last edited by a moderator: Sep 7, 2017
    Howdy DJ...been using them for 2-3 years, both in and out of country. Have not had a problem so far. Its always been spooky to me with the procedure, but it seems better than using credit card with someone not known to me. A lot easier than a MO. Hope ur 308 is back on line. Just got a 87TR from one of Bryan Cralls friends. Be about a month b4 delivery---he is going to do svc for me. Decent car. Sure fun to drive. Long wait.
    Image Unavailable, Please Login
     
  4. MarkPDX

    MarkPDX F1 World Champ
    Lifetime Rossa

    Apr 21, 2003
    15,111
    Gulf Coast
    #4 MarkPDX, May 26, 2005
    There have been a few threads on the subject here.....this is the best one, remember that threads on the old board start at the bottom.

    Am I getting F*****d by PAYPAL?...
     
  5. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    14,656
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    Han Solo
    #5 Spasso, May 26, 2005
    YOU DOG! A TR!

    308 is still sick. No time to fix. Too many fires elsewhere. A real pisser.
     
  6. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    14,656
    The fabulous PNW
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    Han Solo
    #6 Spasso, May 26, 2005
  7. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    14,656
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    Han Solo
    #7 Spasso, May 27, 2005
    After reading what I have about PayPal I have come to the conclusion that using it could be compared to a person that drinks and drives.

    You can do it for years and get away with it but that doesn't mean it is either safe or wise.

    I checked my PayPal account last night and all transactions were listed as complete and I had ZERO balances pending. When I tried to close my PayPal account they refused citing unfinished transactions/transfers. I checked my balances again and they showed that the funds had been transfered by PayPal.

    Today I canceled and closed out all accounts connected with PayPal. I cannot in good concience allow an unregulated service like this access to my accounts.

    I have yet to be successful at cancelling my PayPal membership. At this point it is irrelevant, they have no access to my money anymore.

    I strongly suggest reading the links in this thread, hair raising to say the least, also obvious in some cases that the rhetoric is biased. So why not get it from the horses mouth.
    READ THIS! and READ YOUR PAYPAL AGREEMENT

    You won't like what you see..............................
     
  8. Dr Tommy Cosgrove

    Dr Tommy Cosgrove Three Time F1 World Champ
    Owner Rossa Subscribed

    May 4, 2001
    36,413
    Birmingham, AL
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    Tommy
    #8 Dr Tommy Cosgrove, May 27, 2005
    I have used it for several years and so far, no problems.

    What I did was open a small account just for paypal. I keep very little money in it, just enough to buy stuff on ebay. This way I will not wake up to find my personal account emptied by whatever. My "real" money is safe, elsewhere. I have a "special" internet credit card I use with it too. $400 limit. Those are the ways I do business out there in cyberspace.

    There may or may not be a better way. This just works best for me.
     
  9. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
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    Han Solo
    #9 Spasso, May 27, 2005
    .Thanks DR.T
    ..as you suggest. I should have created special accounts just for PayPal/Ebay activity. Unfortunately I was in a hurry to nail a purchase down in the middle of the night and didn't have time to do it.

    I may do as you suggest down the road for the sake of long distance convenience for smaller items.

    I still have a problem with using the service for "high dollar" purchases though. Nothing like having a grand or two tied up indefinately.......................
     

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