WARNING: Paypal is not as safe as you think

@snoopy88 (452)
Australia
June 28, 2008 10:31am CST
Hey, Just here to let you know that paypal is not as safe as you think, especially for you sellers. Yes, they may have so many verifications for buyers and sellers but yet your account can still get hack. Here's the real story happen to my love. Selling a digital product (game account), thinking that he got the money, give the products to buyers. However, as soon as the product is released to the buyer, he got a negative balance shown in paypal. It turns out that the buyer can get their money back so "quick" (hack), as a result the paypal account got screwed up and give all this BS reasons....its a long story. The point is, be careful with paypal if you are a seller, as buyers can hack into your paypal account EASY even though paypal claims it to be safe!
3 people like this
12 responses
@kenzie45230 (3560)
• United States
29 Jun 08
There's very little that is totally secure. But what can and does happen is that if a customer complains, he/she is beleived first and the payment is withdrawn (from a business paypal account). If you've promised shipment in a certain number of days and the customer has not received it, they will contact paypal and paypal will reverse the payment.
1 person likes this
@suria5231 (147)
• Malaysia
29 Jun 08
Thank you so much for the information and also warning alert. I was thinking of selling some products that will use paypal as a primary payment option. Now I will need to consider another way for clients to pay for the product. A friends account has also been blocked but that is another story. He is now using another payment processor.
@magnel (2263)
• India
29 Jun 08
I guess you need to be a verified account, which makes it more safer. Most of the reason I saw why the payment is reversed back to the buyer account is because, the seller account might not be a verified account or not backed by a credit card to accept payment. What I have experienced is, the money stays in your account for a period of one month till the time you accept the payment with the help of a credit card. Previously I was not able to accept payments and it used to get reversed due to no credit card, but when I added my credit card to my account, the payment process was completed right away and was never reversed.
@snoopy88 (452)
• Australia
30 Jun 08
Oh, that's interesting. Because for me, I can still receive payment into my bank account even though i did not verified it. But i don't know what is going on exactly
@sdas86 (6076)
• Malaysia
28 Jun 08
Hi, Thanks for sharing the information. I am not a seller. I am using PayPal to receive my myLot money. Would it be dangerous if I keep my money in PayPal? I will not upgrade my account to merchant account to sell stuff.
1 person likes this
@dwiwin (101)
• Indonesia
30 Jun 08
hi Snoopy, i never heard negative things about paypal, i though it was the safest with low minimum risk place. thanks for your information. Did he reclaim the money?
@snoopy88 (452)
• Australia
30 Jun 08
He got "scammed" by his buyers and because of this case his paypal account got screwed up and now cant collect money from his ebay sales. Did he reclaim the money? He didn't tell me that but I will ask
@siddiqali (632)
• India
28 Jun 08
Yup paypal is the latest victim of internet hackers.A good hacker can easily make $5000 with a $0 account.Yes it is true.
@snoopy88 (452)
• Australia
29 Jun 08
Wow, thanks for the fact!
• China
29 Jun 08
hi,siddiqali! It's true what you say? oh, hacker is too easy to get money, the hacker is not need working...
@rsa101 (37932)
• Philippines
29 Jun 08
I never had experienced this at paypal yet. But, thanks for the warning I will keep that in mind about this things not to happen with me.
@rpegan (596)
• United States
28 Jun 08
I don't think that any website can ever be completely secure. Every time you enter any information, you're taking a chance. There will always be unlucky circumstances where somebody gets screwed over.
@snoopy88 (452)
• Australia
29 Jun 08
That's true. Internet is not perfectly safe anyway with people getting smarted with coding and programing.
• India
29 Jun 08
I have paypal account but I am not selling anything from paypal mode, just have account for getting payments from different sites, is that any problem with these accounts too? if you know anything about this incoming payments please tell me that.
• India
29 Jun 08
hy snoopy, thanks a lot for such information and warning. keep postings any information regarding this.
@zhaosonghan (1039)
• China
29 Jun 08
I had never used the paypal, but i think it is safe, so many people use it, and i didn't heard that paypal have problem, you are the first, i consider wether you operate is wrong? it's impossble that paypal was hacked.
@calajane (1003)
• Poland
29 Jun 08
I'd rather think that paypal is safer than for example giving away my credit card details. Lets face it I don't consider paypal money real unless I get them on my account. But on the other hand, every program can be cheated, so nowadays nothing is 100% safe and we need to realize that. But do we want to stop doing anything that requires paypal just because we're afraid we're get screwed?