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Is PayPal safe?

J

JodoHost

New Member
I came across an interesting website - http://paypalsucks.com/

This is particularly worrying to us because we keep a large amount of money in PayPal at all times to pay our bills. A large chunk of our revenue comes in the form of PayPal payments as well

Just wanted to know if other hosting companies transacting through PayPal are worried about this ...
 
Well, I've never had any problems with PayPal, but I also never keep any money in my account.

I wouldn't suggest keeping large sums of money in your account for extended periods of time because you just never know what might happen.
 
Paypal is fine, ask the majority, not the minority who had problems. It's kinda like webhosts, one person will come on and say xyzhost sucks, but it is usually something they did to cause it, like TOS violations.
 
I've never had any issues with paypal. When I call them, they always answer the phone and always assist me.

My boss's husband had an issue. He had about $15,000 in his account and they froze it, stating that he was using paypal from an unauthorized country (Honduras) and that he had to fax them over a Florida Bill showing his address and what not.

For them to have frozen his account and prevented him from accessing his money is not only wrong, but it's illegal.
 
Originally posted by Robert

My boss's husband had an issue. He had about $15,000 in his account and they froze it, stating that he was using paypal from an unauthorized country (Honduras) and that he had to fax them over a Florida Bill showing his address and what not.

For them to have frozen his account and prevented him from accessing his money is not only wrong, but it's illegal.
Click to expand...

Those are the sort of issues that worry me. Their new TOS gives them the right to take away your money if they so desire which worries me even more.
 
Originally posted by Jan
It's kinda like webhosts, one person will come on and say xyzhost sucks, but it is usually something they did to cause it, like TOS violations.
Click to expand...

But if you violate any term of their TOS, they get the right to put tens of thousands of dollars of your profits into their piggy bank, don't they?

When we suspend someone's account for excessive CPU usage or AUP violation, we refund them their balance as well as their fees for their current hosting term.

Hope all of this is not true. The number of Paypal chargebacks we receive are very very little. The last was a few months ago. They of course were fraudalent buyers. What I'm afraid is that if we receive a few fraudalent orders one after the other, they can freeze our balance leaving us with no legal recourse, right?
 
Do that:

crete a bank account and use with paypal
when ever you have money, deposit into bank account, and retrieve from it to send payments

paypal has no control over your bank so you can always walk to the bank and widthdraw some $$$ :)
 
Originally posted by Wojtek
Do that:

crete a bank account and use with paypal
when ever you have money, deposit into bank account, and retrieve from it to send payments

paypal has no control over your bank so you can always walk to the bank and widthdraw some $$$ :)
Click to expand...

That's what we use... But Comparing PayPal, it's Unsafe if you Receive a Payment from an Unverified User that is maybe using an Stolen Credit Card, now that happened to me 4 Weeks Ago... I lost $90 but I earn a Lesson... Don't take PayPal Payments from Unverified Members, call them to Confirm and make the Sign a Form :)

My Business Account was Limited because they though I had something to do with that, because When I receive Money via PayPal I send them to my Bank Account Inmediatelly...

Now, I know how to deal with People like that...

Cheers,
FGMDS
MTXIS
 
I have had no problems with paypal. I think it is great, just dont put your whole life savings in it to be extra safe and ull be fine.
 
PayPal has been ean xcellent and convenient way of managing transactions, I don't know it gets such a bad rap.

For my own piece of mind, I use PayPal for transaction but move $$ out to my bank account 1 - 2 times per month for safe keeping.
 
I've never had problems, but recently i closed my bank account connected to paypal. So i'll just use my credit card with paypal instead, since paypal is great for ebay.
 
I use Paypal in connection with my bank account only.

When I receive any amount via paypal, it is sent to my bank account.

If I want to buy something via Paypal I pull it from my debit card.

If Paypal gets the idea of pulling money from my bank account when I didn't authorize it, they are in for a rude awakening.

Rule of thumb, trust Paypal like you would a Thief. :bandit2:
 
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