Is PayPal safe?

Malaysia
November 18, 2008 11:03pm CST
I've been reading reports of fraud in PayPal. I'm wondering whether anyone of you has any bad experience where your money is gone in PayPal? PayPal is not a bank, and thus the policies might not be as strong as those of the banks. And also, I notice that some people prefer to 'remark' their transaction ID. Is it because it's dangerous to reveal it to others? I'm a beginner to PayPal and it's very new in my country. Do share your opinions with me. Thanks!
1 person likes this
6 responses
@stealthy (8181)
• United States
19 Nov 08
I've never had any problems with it, but I only use it to get payments from places like mylot. Then I have them transfer it to my bank before the amount gets to large. You do have to watch out for their fees so be sure to read the fine print and know how your payers pay into PayPal before choosing the type of account you get.
1 person likes this
• Malaysia
19 Nov 08
If not wrong, they charge 1% for the maximum $500 withdrawal, and $5 for each withdrawal below $500. I think it's better not to keep too much money in there too. Kinda risky.
@robinemz (211)
• Philippines
21 Nov 08
i've almost had a bad experience with paypal. i blogged about it at http://robinemz.blogspot.com/2008/11/ranting-about-this-so-called-net-next.html . i had an unknown transaction with a company called net next media. they deducted a big amount on my paypal account. i was really shocked! its good though that paypal has a feature that allows you to report these kinds on issues. my problem got resolved in a matter of minutes. both paypal and the unknown company were able to settle my issue. but anyway, im still using paypal and still is confident with them
• Malaysia
21 Nov 08
Did the company explain why such thing happened?
@robinemz (211)
• Philippines
21 Nov 08
nope. the guy just mentioned that the payment has been canceled and refunded
• Canada
19 Nov 08
Yes Paypal is very safe to use. Ebay and other online stores recommend it above any other paying method.
• New Zealand
19 Nov 08
Paypal protects your financial infomation with industry leading security. When you use paypal, your financial information is not shared with the maerchant. Once you payment is complete, you will be emailed a receipt for the transaction. It used many means in order to insure the higest safty standards of security for online transactions. While no syatem is foolproof, it remailns one of the best. IT OFFERS A GURANTEE AGAINT IDENTITY THEFT AND FRUAD. The simple way that it does this is by notifying the owner of the account of any transactions out of the accont by email. This then allows the owner to file a fruad complaint if there should be any reason to do so. Whenever there may a claim in this area, the paypal customer service has many people rready to help settle the issue.
• India
19 Nov 08
I have transfered and withdrawl money from Paypal and its assure Web security standard, I think is very Safe
• Nepal
19 Nov 08
Yes it is 99% safe but i can't guarentee remaining 1%. i have not heard anyone having bad experience with it.