Chuck Harris wrote:
Unrevealed Source wrote:

4) Use only Paypal, with a credit card, to pay for your purchases.


That brings to mind a question: Is there any way to stop paypal from
insisting on using your linked bank account as its first choice?

Don't give them an account number in the first place.

The reason I ask, is I accidentally forgot to check "more payment options",
and didn't notice until after paypal finalized the transaction. Paypal
attempted to overdraw my account, and I got charged a $25 overdraft fee by
my bank. The idiots at paypal were going to retry this 2 more times before
quitting, and using my "backup" credit card. If I hadn't noticed, this
transaction
would have cost me $75 in overdraft fees. There was no way I could cancel
the payment, and switch to a credit card.

I complained to paypal, because I thought they were supposed to check the
balance on the account before they tried to draw funds, but they ignored
me completely.

-Chuck

A few years ago I listened to a radio show called 'The Troubleshooter'
done by a guy named Tom Martino, and he's still going today. One thing
he always harped on, hard, was 'Never give anyone access to your bank
account beyond the checks you write.' Not health clubs, insurance
companies, utilities, car payments, rent, paypals, not anyone. My first
wife allowed the insurance company to automatically deduct our /monthly/
premium from our checking account and two days after she'd set that up
they took six months' worth and we were bouncing checks. We had to
close that account and I don't do business with that insurance company
any more. I'm also no longer married to her but that wasn't
precipitated by the bank fiasco.

Hardly a month goes by without hearing about something similar. It
might be difficult to not give Paypal your account info, especially if
you sell on eBay, but I'll never do it. I've considered setting up a
special account just for Paypal and keeping the balance very low but the
monthly low balance service charges and that I'll get dinged just like
Chuck for overdrafts just doesn't make it worth it.

Until banks are more responsive to consumers and allow limits on such
transactions (and I'm not holding my breath ;-) I don't engage in such
transactions.

Tom Martino is still at it,
http://troubleshooter.com/

W8LNA