Is Paypal trustable anymore?

I dont have an answer but a confusion and fear of using paypal anymore. Its been bad with your friend. Do we have any other option to paypal which has been universally accepted? Isnt paypal taking necessary steps to tackle the problem? Where lies the porblem, is the paypal itself doing this? Does anyone has answers to my questions. if yes, please let me know what to do and how to tackle the problem of exchanging funds. Thanks a lot coolcat for making us aware of the problem.

Your friend know to use paypal? I dont believe so

I dont know since now my getting my money from mylot i have registered with paypal.But when i had difficulty in adding my card i mailed to the admin and got reply from them.still i have not withdrawn my earnings from paypal. I dont understand how these hackers getting information about the users login id and password and enter the accounts.But some friends of mine using paypal have told me its a secure site.But its sad to note that your friends earnings..quite a huge sum id held up in account.There are helplines in paypal id which your friend can use to make a call regarding this issue.

This sounds bad. If we dont trust paypal how else can we recieve funds. Most paying sites use paypal and without them the whole field would be crippled. Hope nothing of this sort happens again.

After your this discussion, I went to check my Paypal account. Fortunately my money is still there:) I hope Paypal will be trustworthy and I won't lose money from my account, because I don't want my work will be in vain.

I've had a paypal account for two years now, and my account has never been hacked. If you ask me, I'd say Paypal is as secure as any other online pay processor, because like all other processors, Paypal has the standard security measures implemented to keep out unauthorized accesses. What makes an online pay processor insecure is the people who use the service. Often when an account is hacked, it is because the layer of security implemented had been breached. This happens because people either casually give out their IDs/passwords to others, leave them around where others can easily access or let their sensitive login particulars be stolen by online scammers. Many people are very careless or naive when it comes to the last reason. They get spyware sitting in their PCs, and unknown to them, these spy programs steal their IDs/passwords through phishing, and they are not even aware of it. Next thing they realise is that their account has been hacked, and their money transferred elsewhere. It is difficult for Paypal or any other pay processor to take liability for such thefts, because if the login IDs and passwords are correctly supplied when accessing the account, there is no reason for Paypal to suspect that a scammer is doing the logging in and not the legitimate user. So even if one discovers and reports that his money had been stolen from inside his account, there is nothing much Paypal can do after the fact, and certainly Paypal will not want to reimburse the victim, because they are not responsible for the theft. Banks have the same problem, especially with internet banking being more popular these days. In the past year, banks have taken steps to strengthen security because of this high risk of phishing of account IDs/passwords among ignorant customers. What they do now is to introduce a 2-factor authentication for logins, where a second password is required to login successfully. This 2nd password is either SMSed to a person's handphone after the first login, or he has to get the password from a security device the bank had sent him. In this way, even if the first level password is breached, the scammer will not have the 2nd level password, and therefore cannot get into the account. Perhaps over time, pay processors can find ways to strengthen the security layers for login, to defeat the scammers.

so far, i never have any problem with paypal yet... i think it is very secure... but i always very cautious with my money and my PIN number... i always make sure that nobody get holds of my PIN... i think your friend might have accidentally reveal his PIN to somebody and if that is the case, then it is his fault and i don't think he can get his money back... sorry to hear this...

I have never had any issues with Paypal.

With out more information I am not sure what to tell you. I have never had a problem with PayPal and they handle all the scam emails I get easily and efficiently. I would send that money to my back account or hurry and buy things so that there is no money left to steal. I don't keep alot of money in my paypal account and so there would be precious little they could steal. Good luck with this. Follow the proper channels and see if can work out eventually.

I never leave money lying in my paypal account. Paypal is a payments processor not a deposit bank. When money comes into my account, I move it out again right away to my regular bank account.

Well to be honest a few of my friends faced similar problems and PayPal did not help them out. I was looking at some info on PayPal and came across this webiste: http://www.paypalsucks.com/ which I believe will tell you the real truth of Pay Pal.

Dear coolcat123 Well paypal can be trusted for sure .. may be your friend filled his id and password in some phishing email -- some hackers used to send many users phishing mail regarding paypal .. and it looks exactly that it is from paypal. So in that case his id has been hacked by the hacker. We should need to be very careful about these type of emails .. Even I have seen many bank frauds happening in this way. So better beware .. In your friends case .. I don't think there is any way by which he can get his money.

i donot thick the paypal having any question,have been using it for five years,nothing is wrong,i have about 921$iin it and trust it very much.

oh that sucks hopefully everything works out for him..when one of my friends placed an oreder for an ipod he paid through paypal and the seller sent a gucci bag instead..so my friend tries paypal for sometime and they finally do something about it ..He got his $195 and got to keep the bag...I think that was awesome...

It is very difficult to believe it.But in on line transaction we cannot neglet the security threat.

I had a problem once and it was solved. A long time ago someone tried to collect my money from paypal and I am glad that paypal contacted me and I told them No I never asked to withdraw my money to this certain person and I don't know or heard of him as he was from another country so I changed my password right away and since then I have never had any more problems.

If that happened to me, I would get in touch with the police and let them deal with it. If money has disappeared from a bank, it is fraud and needs thorough investigation. It is not something I would just accept - Paypal is a bank and is subject to banking laws if it is dealing with people's money; they are accountable. If money is taken from a high street bank here in the UK they are obliged to investigate it thoroughly and if the customer is not at fault, they are obliged to return it.

you know, i dont think your friend will ever get a hold on his money..as it says paypal is not liable for such case..so they aren't entitled to any fault..there are lots of scams regarding paypal now so everyone must take extra care on their accounts..changing password every now and then is a must..

Hacked? Gosh, this is a serious case! I think once the funds are transferred out, it is quite difficult to take it back, unless they decides to trace it. Regards, Adrienne http://www.e-marketinghub.com http://www.e-marketing-systems.com

Yes I don't think so if paypal account can trusted nowadays infact some other coutries are not locally supported on their network and I guess its not safe.