Paypal Question....very important?

[hsmamato2]

I have used Paypal for years, but recently closed the one bank acct. that is linked to PP..... do I have to have a linked bank account to use it? We buy and sell on Ebay from time to time, but I am now leery of linking my account to paypal,after a fraudulent buyer reversed charges on us last monthsad2
I don;t want PP to be able to take money owed out of my bank acct.,what if the amount that someone 'stole' from us was a lot? (it wasn't,but it could have been)
again,not looking to scam anything,I'd like to use Paypal for payments,etc....what is your best advice?

 

[DisneyFansInLINY]

I had a bank account linked to my paypal and then I also removed it. I continue to use paypal to shop and to sell things on ebay. However, sometimes I am not allowed to sell certain items without a bank account linked. Also, there are other limits placed on your paypal account without a bank account such as sending limits. But the limit is high and you shouldn't run into a problem.

 

[Ava]

I had a bank account linked to my paypal and then I also removed it. I continue to use paypal to shop and to sell things on ebay. However, sometimes I am not allowed to sell certain items without a bank account linked. Also, there are other limits placed on your paypal account without a bank account such as sending limits. But the limit is high and you shouldn't run into a problem.

How do you get the money out of your PayPal account without a bank account linked? Do you have the PayPal debit card? I didn't know you could still use PayPal without having a bank account linked to it.

 

[ssawka]

How do you get the money out of your PayPal account without a bank account linked? Do you have the PayPal debit card? I didn't know you could still use PayPal without having a bank account linked to it.

You do not need to have a linked bank account as long as you have a valid credit card on file.

 

[Ava]

You do not need to have a linked bank account as long as you have a valid credit card on file.

How do access the money in your PayPal account then? Currently I transfer funds from my PayPal account into my linked bank account.

 

[hsmamato2]

I have the same question as AVA, how do I get money out?

 

[arihillfarm]

Your safest bet is to have a checking acct. linked to Paypal and NO credit cards. Make the linked checking acct. one you only use for Paypal and link that Paypal only checking acct. to your regular checking through your bank. Never keep a balance in there unless you just transferred money in to buy something with Paypal and as soon as you transfer money out of Paypal, transfer it to your regular checking.

-Astrid

 

[dizneemom]

I had the same happen to me w/ a fraudulent buyer. They took the money back out of my acct. I was so mad that I don't think I'll ever trust them again. For purchases I now look for people who have their own checkout process andd don't think I will be selling anytime soon. Since this happened I feel burned and don't want to go through it again. From what I have read on paypal's message board-we are not alone.

 

[cglaura]

How do access the money in your PayPal account then? Currently I transfer funds from my PayPal account into my linked bank account.

You can get a Paypal Debit Mastercard (like a checkcard at the bank).

The only fee I've ever rec'd was getting money out of an atm, that is $1. But if you get cashback after a purchase then there is no fee.

OP: I agree w/ Astrid. Just find a bank with free checking and keep only what you want in there. I think though that paypal will come after you for the money regardless of if you have it available in your paypal or bank.

 

[ssawka]

How do access the money in your PayPal account then? Currently I transfer funds from my PayPal account into my linked bank account.

You can still transfer to a bank account without having the account "linked". If you link your bank account, that becomes your primary method of payment.

 

[ssawka]

Your safest bet is to have a checking acct. linked to Paypal and NO credit cards. Make the linked checking acct. one you only use for Paypal and link that Paypal only checking acct. to your regular checking through your bank. Never keep a balance in there unless you just transferred money in to buy something with Paypal and as soon as you transfer money out of Paypal, transfer it to your regular checking.

-Astrid

That may be true for receiving $, but then if your paying for something /w PayPal, you'd have to have a high enough balance to cover the payment. Besides, if PP incorrectly charges you for something, you can open a dispute with the credit card company, if they simply take it from your account, I'm not sure what your recourse would be.

 

[hsmamato2]

so..knowing paypal stinks sometimes...which is safest for transactions? a bank acct,with a set amount in it-so if there's a problem,they can't just take the money disputed?
or a credit card,which will have a record of transactions?
after reading responses,I may go with a bank acct.- and take all cc's off my paypal acct. that way if a dispute ever arises again where someone is stealing from me, I have a way to limit it fast......and a quick way to transfer $ from pp to me..... the only issues I ever had were a couple of scamming buyers....no mistakes otherwise,but I don't want my general funds at risk to that.

 

[ssawka]

How do access the money in your PayPal account then? Currently I transfer funds from my PayPal account into my linked bank account.

You can still transfer to a bank account without having the account "linked". If you link your bank account, that becomes your primary method of payment.

 

[Swimalie]

so..knowing paypal stinks sometimes...which is safest for transactions? a bank acct,with a set amount in it-so if there's a problem,they can't just take the money disputed?
or a credit card,which will have a record of transactions?
after reading responses,I may go with a bank acct.- and take all cc's off my paypal acct. that way if a dispute ever arises again where someone is stealing from me, I have a way to limit it fast......and a quick way to transfer $ from pp to me..... the only issues I ever had were a couple of scamming buyers....no mistakes otherwise,but I don't want my general funds at risk to that.

I see this as the opposite. If you have a bank account linked and someone steals from it, then you have to fight the bank to get it back. If you have a credit card linked, all you have to do it notify the credit card company and you are covered. Your money is not gone. If it's a debit card, then the money would be gone but not a credit card.

 

[cglaura]

I see this as the opposite. If you have a bank account linked and someone steals from it, then you have to fight the bank to get it back. If you have a credit card linked, all you have to do it notify the credit card company and you are covered. Your money is not gone. If it's a debit card, then the money would be gone but not a credit card.

On a debit card it would only be gone temporarily. They are covered the same as credit cards. My friend got hit and her money was back in her account 2 days later. Kind of scary when it is in limbo yes, but you are protected.

And as far as people retracting their payment on Paypal, if you have nothing linked and not enough in your account, it will just make your Paypal negative (like if you overdrew your checking account). Paypal won't let you just walk away from that, you'd eventually wind up in collections if it wasn't resolved.

 

[hsmamato2]

thanks for all the useful info here's what I am doing(hope it works out) I have a linked cc-easy to keep track of as it's the only one we use for everything-so any extra charges etc will be noticed by me right away
I use the cc for paying thru PP,
I opened a checking thru online bank, but it's considered 'unconfirmed' by PP- still allowed me to transfer payment into it from PP tho- I think this will work ok- I understand about being held responsible for charges(even if they're a fraud) but I feel more comfortable with PP not having my main acct. info.....