More Paypal, this is a bit scary...!!!

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  1. I have had an ongoing thing with Paypal about me not wanting to add a credit card to my account...

    I got an email this morning telling me that THEY can request a debit card from MY BANK, which I can use as the credit card!!!!!!!!!!!!!!!!!
    I am assuming that is what they will eventually do if I don't add a card anyway. Now that they have my bank details, does this mean they have complete control over my bank, enough control to request debit cards or information at all???

    This is a quote from the email I received from paypal:

    "I have reviewed your PayPal account and unfortunately at this
    time a credit or debit card is required if you need further verification on
    your account. We can request a debit card from your bank branch for the
    bank account associated with the account."

    WTF??? :wtf:
    Have I just made the biggest mistake of my life giving them my bank details? If they get my debit card info and link it to my account, what do I do to prevent fraud??? Do I now need to close this bank account and find another bank? I am panicking at the THOUGHT that they have the power to do this!!
     
  2. wow i have no idea. i have heard that paypal can take money out of your bank account though.
     
  3. I think Paypal is doing this because of sellers who withdraw the money from their accounts after selling fakes or SND merch. I think they want to have an option in case any Paypal account holder decides to start selling. I guess the 21 day hold is not enough.
    It's scary but they are protecting themselves.

    Hope it works out for you.
    Cheers,
     
  4. It is scary that they have a RIGHT to access my information!! When I call my bank to access my account, I have to enter loads of security numbers. What in the hell gives Paypal the right to order cards from my bank branch without having security clearance???

    I really don't care why anymore why Paypal are doing this, because I would never consider using Paypal again, but what gives them the right to get access to my bank account???
    It is one thing charging my account, but quite another getting debit cards.

    Don't you think???
     
  5. I opened a completely seperate bank account from my personal bank account at a seperate bank. And I keep about a 100$ in it and THATs IT! Just to protect MYSELF from paypal who sides mostly with buyers. That way Im not worried about it so much.
     
  6. Wow - great idea on that separate account - I think I'm going to do that right away as I always have a large checking balance because my travel expense reimbursements for work go into there and stay until I get the bills for those expenses. I'm not selling anything huge, but am getting more and more uncomfortable with Paypal having access to anything. I use the CC option for any purchase (even if it's $10) because Paypal has zero protection.
     
  7. I dont think they can get a card for you. I think they are implying that they can ask your bank to recommend you get one. There is no way they have the power to get you a card. I cant believe this!
     
  8. ^^My dh says the same.
    I do have a debit card from this account, of course.
    But it will be a cold day in h*ll before I will hand my debit card details to those criminals!! I would never store debit card details....ever...end of!

    I have been pulling my hair out! At the end of the day, they cannot keep my money and have no reason to take any from me. I have sold smallish items and don't make really expensive purchases.
    There is a lesson I have learned here...Paypal sucks!