• Howdy! Welcome to our community of more than 130.000 members devoted to web hosting. This is a great place to get special offers from web hosts and post your own requests or ads. To start posting sign up here. Cheers! /Peo, FreeWebSpace.net
managed wordpress hosting

PayPal stole my money!

probably that paypal didnt steal the money, but the payer who paid pulled it back because he was caught in fraud!
 
PayPal is not a bank. Funds within PayPal are not regulated by the FDIC. PayPal has a money transmittal license, but it is not a regulated bank.

Other than "Beware of PayPal" & "Use at your own risk" I'm not sure what to say.

Keep on contacting their support.
 
rhianna said:
PayPal is not a bank. Funds within PayPal are not regulated by the FDIC. PayPal has a money transmittal license, but it is not a regulated bank.

Other than "Beware of PayPal" & "Use at your own risk" I'm not sure what to say.

Keep on contacting their support.
However, Paypal Uses FDIC Insured banks, which that insurance is passed on to you (up to 100K of course).
 
Robert said:
However, Paypal Uses FDIC Insured banks, which that insurance is passed on to you (up to 100K of course).

What should Oleg do?
I've read articles about PayPal both online & off-line that made me wary of PayPal. Has its service improved? What should someone in Oleg's circumstances do?

Edit: Just because
Paypal Uses FDIC Insured banks
that doesn't necessarily mean that Paypal is held to the same legal standards & requirements in a court of law that a bank would be held to.
 
Last edited:
I don't buy into all these Paypal horror stories.. If you added up all these supposed "paypal stole my money" stories you see around the web, PayPal steal like $3mil a year, and any organisation that did that would be having questions asked by the authorities and probably no longer operating. If it was a Colombian and Mexican company, where corruption levels are high, yeah maybe, but not a company pased in the USA.
 
I agree, I use paypal often, But im about to completely pull out and go to 2Checkout. I haven't had any problems with them but I know its just a matter of time.

when i receive money, I immediately move it to my bank and never leave any money in my paypal account.

Sorry to hear about all your trouble :(
 
c_2006 said:
I agree, I use paypal often, But im about to completely pull out and go to 2Checkout. I haven't had any problems with them but I know its just a matter of time.

when i receive money, I immediately move it to my bank and never leave any money in my paypal account.

Sorry to hear about all your trouble :(

That sounds smart. If you use paypal, just keep the minimum in your account to keep the account functioning.

Edit: I just noticed that there is a member on FWS named hostlegal
http://www.freewebspace.net/forums/member.php?u=16802

Perhaps someone like hostlegal could point Oleg in the right direction to a forum or website she might be able to consult in regard to this matter? (Assuming that Oleg lives in the U.S.?)
 
Last edited:
I keep money in my paypal account all the time. I've never, ever, ever had it taken out, been overcharged, or anything. I've had a paypal account for I think about a year now, maybe more. Most of these "horror stories" are either made up or rigged. The fact that this person isn't going in to any specifics makes it a lot less credible.
 
Hello everyone. I am new to this site but found this topic interesting for me. Has Oleg’s problem been already resolved? Did he really try to contact PayPal’s customer support and how did they explain the problem from their side?
 
I trust Paypal as far as I can throw them. Since I can't throw them.. I can't turst them. ;)

If I pay via Paypal I pay via a credit card with chargeback protection.

If I receive money via Paypal I'll transfer it to my bank account.

I just won't let Paypal rip me off, I suppose that is why I've never had any problems. :bandit2:
 
Yeah, but the majority of those of the internet have the mental capacity of a fishstick and couldn't come up with a plan that would have the least amount of risk involved.

Mmm... fishsticks...
 
Back
Top