Quote:
Originally Posted by paulspickupparts
Here is some very important information . It is VERY important you do not have your personal or business bank account linked directly to your paypal account. In other words if you are depositing or withdrawing directly from either of these accounts you are high risk.
My account used to be set up that way and linked to my business account. Luckily I live in a small town and was in my local bank and told the teller (who I personally know ) that I would like to check if a paypal transfer had went thru to deposit funds into my business account. At that moment her eyes became very large and she took me to the side. Here is what she said. If your paypal account is hacked the person now has access to your business account and can totally drain that account also. She had me set up another checking account (I do not write checks on it ) that is used only to receive the deposit . I then either walk into the bank or over the phone and transfer from that account into my business account. Safely .
She also stated that they had numerous bank accounts drained because of being linked to their paypal account. She said that you will get your money back at some point it time but it may take a while to investigate what went wrong. So unless you can be without whatever money you have in your business account you may want to consider setting up a buffer account. when I contacted the paypal rep about this issue she blamed it on the bank. well I have never had trouble with my bank, I have had multiple issues with paypal.
User beware.
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One more time . Please read the above . ^^^^^^^^
Paypal actually blamed my bank for what had happened to my transactions thru paypal.
My bank did everything they could to help me.
Paypal did nothing and blamed my bank.
My bank has been in business over 100 years
Paypal less than 25
Something that does bother me is all the forums specifically say not to send a check or money order . Use paypal to prevent fraud. ???????!!!!!!!