Verifying bank account on paypal good idea or not

@suspenseful (40316)
Canada
July 1, 2010 2:25pm CST
I just finished verifying my bank account on Paypal and now I am wondering whether I made a bad judgment. You see, I hardly will use Paypal to send money and what I am more interested in is getting the money from Paypal into my Canadian bank account sooner. But I also get a lot of spam mail and for some reason yahoo email has people there who cannot tell the different between my pen name on Yahoo and another name even though the only simularity is in the first letter. Now Paypal tells me to keep money in that account and usually all I keep is just enough to avoid service charges. Do they know something that spammers may pretend to be me? So did I make a wise choice or not?
3 people like this
17 responses
@Lakota12 (42684)
• United States
2 Jul 10
O Wpuldnt use yahoo as email for PAYPAL. get another email just for them. and I use paypal since 1999 and have had no trouble out of them. am erified withthem as a business one that helps some!
2 people like this
@Lakota12 (42684)
• United States
2 Jul 10
Thik I would use one of the gmails before I would any other
2 people like this
@suspenseful (40316)
• Canada
8 Jul 10
It was one and they wrote that we had to join via our paypal address. I also do not know if that means they way one checks into paypal will change. i know that some companies are fussy that they never allow you to change your log in details except for your password.
@Lakota12 (42684)
• United States
8 Jul 10
Probably not. and I have used paypal for lots of things since 1999 had no trouble with them only time they ever went to my bank account is if I ordered something that went over what I had in paypal and I had to give permission. If I am low I do transfer myself from my bank to paypal
1 person likes this
@ElicBxn (60895)
• United States
2 Jul 10
you can get your money from Paypal without paying a check fee, I think you did all right, I never could figure it out
2 people like this
@suspenseful (40316)
• Canada
2 Jul 10
In Canada we have to wait until we get over one hundred and twenty-five dollars before they do not charge anything. And if I made that much in a month, the income tax people would get very suspicious. Anyway verifying makes it easy for me to send money, but i am more interested in receiving money.
2 people like this
@ElicBxn (60895)
• United States
3 Jul 10
I leave my money in the account until I have enough that the buck, fifty doesn't hurt too bad...
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@suspenseful (40316)
• Canada
4 Jul 10
I withdraw when I get 320 at least and get 50 cents taken off of it for the withdrawal fees. Then as soon as it is in my checking account, i upload it to my high interest savings account. That makes it easy for me. I just do not want to keep that much money in my checking account.
1 person likes this
@dragon54u (31636)
• United States
2 Jul 10
I have never had a problem with Paypal. They are as secure as anything can be. I don't keep money there but transfer it to my savings as soon as I receive it. When I make a purchase using Paypal they get it from my bank account and I've never, ever had any discrepancies during those dealings. I think you're safe, but watch out for emails that look like they are from Paypal--it's phishing that wants to get your information. Paypal NEVER emails you that your account is in danger or for any other reason other than to tell you that there is money waiting there for you. If you do receive any emails from Paypal other than telling you that you have received a payment, forward it to spoof@paypal.com but don't reply to it. Never follow a link to log into your account--never, ever! Always go to it on your own, in a separate window.
2 people like this
@suspenseful (40316)
• Canada
2 Jul 10
I always send those bad emails to the spoof email address, but sometimes I just delete them. Maybe I should send all of them. The only money I keep in my paypal account is while waiting until I have enough to download. So I do not have any problem that way. It is the ones who pretend to be me and the ones who are crooked ebay sellers that I worry about.
@digidogo (446)
• Philippines
2 Jul 10
Paypal is a secured online banking system. Only answer Paypal messages although most of them are not needed to be answered. Well, you can use the money to send into your bank account. I have tried it before in a different country and it works well.
2 people like this
@suspenseful (40316)
• Canada
2 Jul 10
I was worried about getting taken by some crooks who used Ebay. And also if there was a dispute of Paypal taking the money from my bank account. I do need that money in there as I am on a tight budget.
@TexLadyPj (1329)
• United States
2 Jul 10
Herro suspenseful I read the other responses, so will add my 10cents worth. I've been with paypal for gosh, can't remember how long. I have a premier account when they were free. I have my debit card. I trust paypal. I have never had a problem with them. I tested password, if there is one thing different, they will NOT let the person in. Sign in is email and password, has nothing to do with your name. I realize not an issue for you, however I get a tiny interest rate. Prosperous mylotting If you were asking about e-gold, I would say RUN! I lost a couple hundred dollars, e-gold refused to trace. I also have alertpay. I don't have the level of trust, however I do trust them. I just don't use them as much.
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
I have an e-gold account but nothing in it, thank goodness. But at least you made me feel more confident about Paypal so I will not worry that I verified it and besides I have a high interest account online and when my checking account was too low, I transferred money from the high interest account into it and it took just a few hours. So really I should not worry.
@TexLadyPj (1329)
• United States
2 Jul 10
Herro suspenseful I'm glad you found a solution to your problem. I forgot that I have an account at an online bank (ING). I appreciate this discussion, it has been a real exchange of information. Thank you. Prosperous mylotting
1 person likes this
@suspenseful (40316)
• Canada
4 Jul 10
I have an account with ING too. And I put most of my paypal money in it after uploading it from my checking account. I do think that e-gold is not that good and I notice that not many sites use it. So there has to be a reason for that.
@mipen2006 (5528)
• Australia
2 Jul 10
I don't know about you suspensful, but I get a lot of phising mail, requesting me to validate my bank details with Paypal. Are you sure it was a legit request?
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
I went on Paypal's sight and I saw the part about verifying my bank account because they were fixing up their site and I could not see the withdraw to your bank account. (I found it later) and I thought that the only way to get a withdrawal was to verify my bank account and that was part of Paypal's new policy. Well it was not, except that now Canadians could verify their accounts but that had been going on for some time now.
1 person likes this
@mipen2006 (5528)
• Australia
2 Jul 10
Well in thatcase you should have nothing to worry about.
1 person likes this
@suspenseful (40316)
• Canada
3 Jul 10
I guess I do not have to. Now I just have to find a way to change my paypal email address. The trouble is I have so many email addresses and I do not just have one just for paypal, but I guess I have to.
@carmelanirel (20979)
• United States
1 Jul 10
I have a question, how did you even set up a Paypal account without verifying your bank account? I believe I had to do that in order to get my Paypal account opened, but it has been a long time, maybe not. So, can you have money in Paypal and not have a bank account? Of course if you want it transferred to your bank, you will have to have it verified. As for the spammers, here a tip. NEVER open an e-mail from Paypal. If Paypal has something new on their site, go directly there by typing the address into you address bar.
@suspenseful (40316)
• Canada
2 Jul 10
In Canada we could not verify our bank account until recently. Before all we had to do was to give our credit card number and our bank account number but Paypal did not send money to our bank account as a test to make certain it was our account. That gave me the feeling that they wanted to know whose account it was just in case there was a dispute. So they already knew we had a bank account because we had to say so but in order to verify it, they had to make doubly sure it was ours by putting a deposit themselves into our bank account and after that we could transfer money from our account to that of whom we wanted to give money to like relatives, and friends, etc. as long as it was in our own country.
1 person likes this
• United States
2 Jul 10
Oh okay..Well like I said, I wouldn't worry about verifying it as long as you didn't go through your e-mail to do so..
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
I was more worried about someone using my email address. But they do have a lot of checks and balances to make sure it is me.
26 Oct 10
Well my bank rings me up when paypal requests money from my account, so I know what's going on and when something paid in I generally check my account to make sure that paypal actually did it. I haven't experienced any issues and I would of thought that most banks do similar to mine, I know don't like their customers using paypal and suggest using their own service online. Just a case of being safe and protecting yourself.
1 person likes this
@suspenseful (40316)
• Canada
1 Nov 10
I have an account I have not verified with paypal yet because it is my main banking account. But then I do not order things from paypal. It is only for receiving. I would rather use my credit cards or mail a check, because you never know if there is a problem with the order, and you get the short end of the stick. I know I ordered that good singing course and they had a choice of either using credit card or going through Paypal and naturally I used the former.
@chrislotz (8203)
• Canada
4 Jul 10
I tried to log into my paypal account the other day and it also asked me to verify my bank account and for some reason it won't let me into my account. I know I have the right bank account number because I get them to send me my money every month and I get it in my account. I don't know why it tells me my information is incorrect. So I sent them an email and I haven't heard back from them yet. I don't want to have to phone them because it is an american phone number and I know I had to phone once before and it ended up costing me over $25 because they kept putting me on hold. I may not have a choice though because right now I know I have about $65 in my account and I want my money.
1 person likes this
@suspenseful (40316)
• Canada
4 Jul 10
I do not know how that could have happened unless maybe you just changed your password and even though I changed it on Roboform, forgot to change it on Paypal. But I have a password keeper and put the new password in plus I also write down the old password just in case So in the case when I could not get in, I entered my old password and was in. So what you have to do is see where you kept your old password before you changed it, and then change to the new password in Paypal. I hope you did not entered by one of those email links. You may have done it once, and someone may now be pretending to be you. Also the banks have a different system on how to give the information, how many digits etc. So you might have to get it from one of your bank statements or ask the bank manager. And you might have to write a snail letter to Paypal. Emails do not help that much.
@p_vadla (1687)
• India
2 Jul 10
I got my bank account verified long ago by paypal.Nothing adverse happened.So far I found it to be safe.The beauty of Paypal system is its safety and reliability.Well, not to forget, I was only using my home computer for accessing my accounts whether for banking or paypal.
1 person likes this
@suspenseful (40316)
• Canada
4 Jul 10
I just use my home computer. I do have an iphone and can get on it through that route. The trouble is that I make up so complicated passwords that I am more inclined to type in the wrong digit.
@Asylum (48266)
• Manchester, England
2 Jul 10
I share your concern about Paypal verification, particularly since they insist on you filling out a form allowing them to withdraw cash from your account. This means that Paypal can draw money anytime they like from your account, which is not a desirable system. I have a bank account that I opened solely for use with Paypal, so they have no access to my main account.
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
They say that they will ask you first, but I do not exactly feel safe. So I intend to keep as little money in that bank account as possible. I just will avoid buying from ebay. That might help.
@tap0991 (2767)
• United States
2 Jul 10
Papal is a very trusted website they do not hive out your information unless you tell them too. If you have been receiving emails randomly it could be from any site that you submitted your email too. I read in the discussion that you downloaded something on your computer for papal and there is nothing to download for papal on your computer. To verify your bank they send a small deposit and you tell them how much they send. If you downloaded something I would suggest changing the password and send a message to papal about the events that took place.
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
I do change the password about every six months or so, and usually Paypal sends me a notice to my real name and address to tell me to do so. I do get spam emails from people claiming to be from Paypal. But I got suspicious when the email they sent it to was not my Paypal email address. I was very smart in that even though for a time I did put other email addresses, it was just for a month or so, and then I removed them. The whole trouble with those spams is they started when I wanted my website known and at that time there was no check box for those who did not want third parties to know about their email address.
1 person likes this
@Jacobus1919 (1683)
• Philippines
2 Jul 10
Paypal is secured but, not totally. I have experienced online marketing and the person buying from me hacked another person's paypal. Best to play safe and always check.
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
I am not much into online marketing. if I were to send money, it would be because I was invited to a wedding or a shower, but it was cross country and I could not be there. And most of the dealings I have had is getting paid, but I am also wary about being scammed by online sellers who lie about what they are selling.
• United States
2 Jul 10
I think you made a wise choice. Paypal only takes a few cents and once you verify the amounts Paypal has taken you're in the system as legitimate. You never know when you'll be glad you're a Paypal member in good standing.
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
I thought they deposited the few cents. But I have to che I thought they deposited those little bits of cash in your bank account not taken it out, because in that case, I would not be as trustful of them. However, I will go and find out. It might be that they put them in temporarily and remove them as soon as the account is verified. I checked and they do deposit the amount in your bank account, so it is not as you said. cv
@lythfang (22)
• Singapore
2 Jul 10
Paypal is a very useful site and system. paypal and make sure your online payment or earning save. and whenever u want to buy items online u will feel save that the company use paypal. :)
1 person likes this
@suspenseful (40316)
• Canada
2 Jul 10
Thanks. I just did not want to have Paypal take the money out of my bank account if someone stole my email address and pretended to be me.
@aisaellis22 (6449)
• United States
1 Jul 10
Hi suspenseful! I have the same dilemma too. Right now, I still didn't verify my bank account on my paypal. For some reason, I don't want to risk. I even have an urge to do it because I want to purchase something in ebay and ebay only accepts payments from paypal.
@suspenseful (40316)
• Canada
2 Jul 10
It is hearing that horror story of that couple who were cheated or spammed and because no one was sure, Paypal took the money out of their bank account that scared me. Yet I felt that if I wanted to send money to someone of my relatives as a gift because I could not be there, I had to verify that account. However, that account does not have that much money on it and usually I would put most of the money in my high interest bank account.
• Philippines
1 Jul 10
Paypal is a secured system but you still need to watch for those spam emails because it may take your password if you'll carelessly open any unknown mails.