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?

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

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

gwatts wrote:
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.

Not practical, paypal cuts you off after you have made an accumulated
$2000 in payments. The only way they will let you exceed that limit is
if you tie a bank account to your paypal account.

Further, ebay encourages sellers not to sell to unconfirmed addresses.
The only way to confirm an address is to link a credit card, or confirmed
paypal account to your ebay account.

....

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.'

I agree with him. That is why I opened this account just for paypal. I
only keep $50 in the account, hence the problem.

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

That is exactly what I did. Credit unions charge no service fees, and
have a $50 minimum for startup.

-Chuck

Chuck Harris wrote:
gwatts wrote:

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.

Not practical, paypal cuts you off after you have made an accumulated
$2000 in payments. The only way they will let you exceed that limit is
if you tie a bank account to your paypal account.

It comes down to weighing practicality versus prudence. I've closed old
and opened new paypal accounts when I get too close to the limit, even
on the same credit card, and that limit was $10k the last time I opened
a new one.

Further, ebay encourages sellers not to sell to unconfirmed addresses.
The only way to confirm an address is to link a credit card, or confirmed
paypal account to your ebay account.

I've never had a seller bring up the 'verified' issue even when they say
they'll only ship to a verified address, maybe because I contact the
'must be verified' sellers personally in addition to the automatic
post-auction contact. Like paypal, they're mostly interested in the
money and will bend their rules a bit if it looks legit.

...I opened this account just for paypal. I
only keep $50 in the account, hence the problem.

I'm sorry it hasn't worked out better for you and I hope it gets better,
but my experience makes me cynical and it's not that much more trouble
doing what I do now. The again, I don't sell often and I don't take
paypal payments when I do. That may have to change, and I'll have to do
the special account business, and watch it like a hawk on bunnies.

That is exactly what I did. Credit unions charge no service fees, and
have a $50 minimum for startup.

No local credit union available for me.

73 and the best of luck to you,
W8LNA

gwatts wrote in
:


It comes down to weighing practicality versus prudence. I've closed
old and opened new paypal accounts when I get too close to the limit,
even on the same credit card, and that limit was $10k the last time I
opened a new one.


How? When I tried that, they told me the card belonged to a previous
account, and would not let me open a new one. [That was the first thing I
tried when I got close to $2k.]

I pay for my purchases around here with cash,food
purchases,gasoline,miscellaneous.I usually know about how much money I
will spend at the food store once each week.If I dont have about that
much cash on me,I will go to a bank and cash a check.Items I buy from
online stores,I pay with a post office money order.
cuhulin