<VV> PayPal & bank accts.--NO CORVAIR

[Mike Stillwell]

 I have a "Free Checking" account with no minimum
balance (thanks to a standard checking account in good
standing) that I keep a maximum of $200 in for toys. I
figure the worst I can lose is 200, and my bank is
pretty good about protecting accounts. If needed, it's
easy to transfer in funding from the main account, if
it's a really big toy!
 
 Mike
 YS-117

--- Wrsssatty at aol.com wrote:

> I know a lot of you folks do eBay so I thought I'd
> seek your thoughts/advice 
> on this.  PayPal now requires the submission of bank
> account information for 
> users to become "verified" and have even set an
> arbitrary dollar amount limit 
> before becoming verified is mandatory.  In other
> words, with only the credit 
> card information that one originally submitted to
> them, they will now only allow 
> a lifetime dollar amount limit they will allow you
> to spend before you have 
> to become "verified" by submitting the bank account
> information.  I find using 
> PayPal convenient, especially when dealing with
> foreign currencies but I am 
> extremely hesitant to give bank account information.
>  I feel the credit card 
> access, which they already have, should be
> sufficient and that using the credit 
> card gives me, as a consumer, greater protection
> against fraud and greater 
> leverage in seeking arbitration of disputes.  Do any
> of you have any thoughts on 
> giving PayPal bank account information?  Private
> replies O.K.  BTW, I'm 
> seriously considering filing a complaint with the
> New Jersey Div. of Consumer Affairs 
> regarding PayPal's practice.  Don't know if it would
> do any good but what 
> have I got to lose by trying?
> Thanks!
> Bill Stanley


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