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Re: [Z_Scale] PayPal demand for access to banking information

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  • David Mummery
    Mark H, Boy did you open a can of worms! I m retired from the financial sector and one of the resounding complaints is how the hell does EBay/PayPal get away
    Message 1 of 22 , Jun 30, 2011
      Mark H,
      Boy did you open a can of worms!
      I'm retired from the financial sector and one of the resounding complaints is how the hell does EBay/PayPal get away with this.
      The only answer is that they have every regulator in there pocket.
      No one complains because its a dollar here a quarter there and so on and so forth. What everyone fails to realize is all that chump change adds up to BILLIONS of dollar; just read Ebay's year end or quarterly reports and see how PayPal is there 'Golden Goose'.
      This along with not having any other option for clean money transfers and other stuff are the reasons I avoid them at all costs.
      That's more then two cents worth so enough from me.
      Dave M

      Sent from my BlackBerry® wireless device from U.S. Cellular
    • FT. Dewey
      I get these once in a while, and I don t even HAVE a paypal account.            DEWEY Sent from my old, second hand used desktop computer. Sometimes
      Message 2 of 22 , Jul 1, 2011
        I get these once in a while, and I don't even HAVE a paypal account.            DEWEY

        Sent from my old, second hand used desktop computer.

        Sometimes the light at the end of the tunnel is an oncoming train.
        o o o o o o o . . . ______________________________
        o _____ || |
        .][__n_n_|DD[ ====_____ | |
        >(________|__|_[_________]_|____________________________|
        _/oo OOOOO oo` ooo ooo 'o!o!o o!o!o`
        -+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+-+

        --- On Thu, 6/30/11, Malcolm Cleaveland <mcleavel@...> wrote:

        From: Malcolm Cleaveland <mcleavel@...>
        Subject: [Z_Scale] PayPal demand for access to banking information
        To: z_scale@yahoogroups.com
        Date: Thursday, June 30, 2011, 9:59 AM

        Folks,

           I believe that enough of us use PayPal that this should be of interest
        to this list.  PayPal is demanding that I give them access to my banking
        information because I "am nearing the limit" of money transferred (almost
        all sent to internet merchants).  This is an arbitrary limit.  They will
        then fiddle with my bank account and I have to tell them exactly what
        fiddling they've been doing.  At no time have I failed to have the funds
        available, nor has there been any irregularity in my transactions.  On the
        contrary, once I was defrauded by an individual, Robert Dressel.

           I am highly reluctant to provide this information for several reasons.
        First, I fail to see any justification for this.  Second, in the wake of
        numerous security breaches at financial institutions leading to fraud or
        identity theft, I am reluctant to give any unnecessary financial
        information to a remote party such as PayPal.  I worry about them having
        my credit card information as it is.

           Am I just being paranoid?  What do others think about this intrusive
        requirement?

        CheerZ,
           -- Malcolm Z



        ------------------------------------

        Z-scale:  minimum siZe, MAXIMUM enjoyment!
        Yahoo! Groups Links





        [Non-text portions of this message have been removed]
      • Alan Cox
        On Thu, 30 Jun 2011 15:54:00 +0000 ... *US* regulator maybe. The are regulated here thankfully. Alan
        Message 3 of 22 , Jul 3, 2011
          On Thu, 30 Jun 2011 15:54:00 +0000
          "David Mummery " <d_mummery@...> wrote:

          > Mark H,
          > Boy did you open a can of worms!
          > I'm retired from the financial sector and one of the resounding complaints is how the hell does EBay/PayPal get away with this.
          > The only answer is that they have every regulator in there pocket.

          *US* regulator maybe. The are regulated here thankfully.

          Alan
        • Garth
          Well I use Paypal for collection agency for the sales of my n-scale stuff. It is cheaper than a money order.You can ship by mail with either USPS or Canada
          Message 4 of 22 , Jul 3, 2011
            Well I use Paypal for collection agency for the sales of my n-scale stuff. It is cheaper than a money order.You can ship by mail with either USPS or Canada Post at a reduced rate and tracking is there for the customer and proof of shipping. Since I am in Canada there is always the issue of exchange no matter whether I use a bank or paypal. The cost of an NSF check in our banking system makes it a poor choice. One bad cheque costs me $20.00 before I have even collected any money.You may have your goods but that 20.00 bucks is a big dent in your sales and you seldom get to collect back on it. So I have a bank account I use for Paypal and they dump money into it and I remove it and if I want to pay for something from someone I put money into it so they don't have control of much and it is not any different from pre authorized debits at your bank for e your mortgage or utility bills and such. SO you have to manage your exposure in any financial tranaction and the banks are not any friendlier than paypal.Then there are credit card charges on un paid balances. I wish people knew hoe much they are paying for stuff on credit card interest instead of a line of credit at their bank. enough I'll get off the soap box

            Garth

            --- In z_scale@yahoogroups.com, "David Mummery " <d_mummery@...> wrote:
            >
            > Mark H,
            > Boy did you open a can of worms!
            > I'm retired from the financial sector and one of the resounding complaints is how the hell does EBay/PayPal get away with this.
            > The only answer is that they have every regulator in there pocket.
            > No one complains because its a dollar here a quarter there and so on and so forth. What everyone fails to realize is all that chump change adds up to BILLIONS of dollar; just read Ebay's year end or quarterly reports and see how PayPal is there 'Golden Goose'.
            > This along with not having any other option for clean money transfers and other stuff are the reasons I avoid them at all costs.
            > That's more then two cents worth so enough from me.
            > Dave M
            >
            > Sent from my BlackBerry® wireless device from U.S. Cellular
            >
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