PAYPAL DRAINED COMPLETELY - Warning Warning Warning.

LazerShow15 · Jan 30, 2014

Just received probably 34 emails from Paypal Shipping and each shipping was $47 to $61 using USPS priority mail shipping. Drained my entire account. From Russia using Malware.

Anybody else have that problem.

DaleMurphyCollector · Jan 30, 2014

Never understood why & no one has ever given me a compelling reason why anyone would leave money in a PayPal account. What's the difference in leaving it in PP account or transferring it to your bank account? You still have access to it and can instanteously pay for purchased items once it's in your bank account. I'd think this very thing is reason enough to never have a PP balance....

LazerShow15 · Jan 30, 2014

Just got paid today and was a conference call, once done I noticed. Very odd.

gmsieb · Jan 30, 2014

I think something like this happened a while back and someone posted it, not sure if it was shipping or not.

Going forward, get a paypal debit card and pull your money out or xfer it.

ChasHawk · Jan 30, 2014

Doesn't paypal claim to cover things like this?

Boylen33 · Jan 30, 2014

DaleMurphyCollector said:
Never understood why & no one has ever given me a compelling reason why anyone would leave money in a PayPal account. What's the difference in leaving it in PP account or transferring it to your bank account? You still have access to it and can instanteously pay for purchased items once it's in your bank account. I'd think this very thing is reason enough to never have a PP balance....

Exactly. There is no difference. In other words, someone can hack your regular bank account just the same. It's never happened to me in Paypal but has happened to me on my regular bank account.

I have had a PP debit card for 7 or 8 years now. I always keep a balance and use my card all the time. Why? I get 1% cash back on every purchase.

cgilmo · Jan 30, 2014

I too swipe the paypal debit card.

LazerShow15 · Jan 30, 2014

Yes they see that it is fraudulent and will refund money, but hold for 5 business days which is absurd.

olerud363 · Jan 30, 2014

I usually keep a zero PayPal balance and use it to pay with my credit card (and get the reward miles on my credit card). The PayPal fees are different whether I use balance or bank account or CC.

- Rodrick

DaleMurphyCollector · Jan 30, 2014

Boylen33 said:
Exactly. There is no difference. In other words, someone can hack your regular bank account just the same. It's never happened to me in Paypal but has happened to me on my regular bank account.

I have had a PP debit card for 7 or 8 years now. I always keep a balance and use my card all the time. Why? I get 1% cash back on every purchase.

Still not giving any kind of compelling reason to carry a balance in PayPal. You can get more than 1% from other financial institutions.

madbull34 · Jan 30, 2014

Change your eBay and PayPal passwords to something more secure. My brothers account was hacked a while back. Basically they figure out your eBay password then check to see if you have a linked PayPal account. If you do they print massive amounts of shipping labels to drain your account.

Boylen33 · Jan 30, 2014

DaleMurphyCollector said:
Still not giving any kind of compelling reason to carry a balance in PayPal. You can get more than 1% from other financial institutions.

The point is why do you need a compelling reason? Your hypothesis is built on the theory that it's less safe to keep money in Paypal than in a "regular" financial institution when, in actuality, there isn't much difference (other than you can't write checks from Paypal, which doesn't apply to me because I don't write checks). Just from personal experience, I have not found Paypal to be any less safe than a traditional financial institution. As I mentioned before, my regular account has been hacked whereas my Paypal account has not.

I guess it's just really a matter of preference. I own a small online business through which my customers pay me via Paypal, which is why I always have a significant amount of money in Paypal at any given time. I simply choose to use Paypal as my "bank".

D-Lite · Jan 30, 2014

olerud363 said:
I usually keep a zero PayPal balance and use it to pay with my credit card (and get the reward miles on my credit card). The PayPal fees are different whether I use balance or bank account or CC.

- Rodrick

I do this as well. A bank is FDIC insured as well and I get miles (or other travel related benefits) with my Venture card. I know Paypal offers some protection, but they're nowhere near as secure as the banking/CC systems.

olerud363 · Jan 30, 2014

Whether you keep a balance or not, wouldn't a hacker be able to steal your money in any case? If you had zero PayPal balance, the funds would just come from your bank account or CC.

On a side note, this thread has prompted me to change my ebay and PayPal passwords.

- Rodrick

Boylen33 · Jan 30, 2014

olerud363 said:
Whether you keep a balance or not, wouldn't a hacker be able to steal your money in any case? If you had zero PayPal balance, the funds would just come from your bank account or CC.

On a side note, this thread has prompted me to change my ebay and PayPal passwords.

- Rodrick

Good idea. Thanks for prompting me to do the same. Didn't Paypal use to have a little keychain random password generator that would give you a new password every so often?

hive17 · Jan 30, 2014

Do you need a professional PP account to transfer more than $500/month from PP to your bank account? Or is that even a thing anymore?

cartersprings · Jan 30, 2014

hive17 said:
Do you need a professional PP account to transfer more than $500/month from PP to your bank account? Or is that even a thing anymore?

No, you just need a credit card linked to your account.

BiggioBrooks755 · Jan 31, 2014

This is why I dont use Paypal

ChasHawk · Jan 31, 2014

BiggioBrooks755 said:
This is why I dont use Paypal

Why?

Because one person out of millions got hacked?

I suppose you don't have a bank account, or Facebook, or shop at Target either.

TNP777 · Jan 31, 2014

ChasHawk said:
Why?

Because one person out of millions got hacked?

I suppose you don't have a bank account, or Facebook, or shop at Target either.

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