Do you really feel comfortable giving your bank information to Paypal?
By miamilady
@miamilady (4910)
United States
August 16, 2007 8:04am CST
I'm a little hesitant. I want my myLot payout and I'm ready to sign up for paypal. I've been putting it off because I am hesistant to give out my bank info...Did you have a similar concern?
Has anyone had any problems with paypal, that I should know about?
14 people like this
50 responses
@lilaclady (28207)
• Australia
16 Aug 07
I don't think you have to worry as it is the same information you give to people that you sell to if you are a seller on Ebay it is not the actual number that can get into your account. There are millions of people on Paypal I am pretty sure they can be trusted...
@miamilady (4910)
• United States
16 Aug 07
Thanks for your response. I'm going to try to sign up today. I've just always been leary of purchasing stuff online and giving my info out. I've been told it's safe and I know lots of people do it.
I've only done it a few times and recently I had a problem with it.
4 people like this
@miamilady (4910)
• United States
16 Aug 07
No, it wasn't Paypal. It was an online bookstore.
2 people like this
@kevsgirlalways (5883)
• Malaysia
16 Aug 07
nope, i don't feel comfortable at all actually hehe. don't really like to give out my credit card information, not only to paypal but to other sites as well. but i guess you have to have some kind of trust if you want something. so far i've never encountered any problems. i think it's pretty safe, so you probably want to give it a try. good luck! ;)
4 people like this
@Savvynlady (3684)
• United States
16 Aug 07
I've been using Paypal for like three years now and I've had no problems with them in the time I've been with them. I did have some concerns with those claiming to BE paypal, but once I figured out the difference between them, I had none after that. Peace.
4 people like this
@gardengrrl (1445)
• United States
16 Aug 07
To verify your account, ie, where you live, your identity, etc. They try really hard not to provide services to spammer and scammers, so this is a way they use to avoid that.
Unverified accounts have limits to how much money can be paid or withdrawn. Some merchants won't do business with an unverified Paypal account, also.
2 people like this
@lilaclady (28207)
• Australia
16 Aug 07
Paypal is just like another bank in itself really, its like a middle bank between two parties...you will be ok...
3 people like this
@deebomb (15304)
• United States
16 Aug 07
I have seperate savings account set up just for paypal and on line activities. If you are concerened about the saftey of your main account you might want to do that. Banks do charge for small accounts and you must maintain a minum balance but at my credit union I don't have to have a large balance nor am I charged if the balance fall below a minum.. I started with a very small balance.
3 people like this
@cutepenguin (6431)
• Canada
16 Aug 07
I haven't had any problems either. You don't have to give them your bank info right away if you're not comfortable - it's just if you want to be able to deposit your money, I think you need a bank account then.
We've had a paypal account linked to our checking account for years, and haven't had any problems.
3 people like this
@spiritwolf52 (2300)
•
16 Aug 07
I gave them my banking information a long time ago. They are the only payment processors that I trust. I have never had a problem with them. They have always been very helpful when dealing with customer service.
@cjthedog64 (1552)
• United States
16 Aug 07
I don't have any problems now, because the account I used to set up my paypal account is now closed. I just have to make sure that I have enough in paypal for any fees and stuff. I also have their debit card so that I can use that money in real stores, not just online.
I think that as long as you use common sense in your purchasing, and don't try using any of the email stuff that you'll end up getting, you should be fine. Paypal is a reputable company and you shouldn't have any problems.
3 people like this
@craftcatcher (3699)
• United States
16 Aug 07
I was extremely hesitant at first but I had no choice because I was selling on eBay at the time. I've had an account now for 7 yrs and haven't yet had a problem with it. I do worry about hackers and such but I don't usually keep much money if any in the account so they wouldn't get much if something were to happen. I'd say it's as safe as any other way. You're more likely to have your credit card stolen than get your PP account hacked.
3 people like this
@youless (112570)
• Guangzhou, China
16 Aug 07
I think Paypal is a trustworthy website. So I don't hesitate to give it my bank information. Nowadays it's impossible not to give out your bank information. Many aspects need it. I often check my bank account information via the net. I like to buy things online, too. So if I don't trust it, it's better not to use internet at all.
3 people like this
@primeinfotech (185)
• India
16 Aug 07
well I would say Paypal is secure payment gateway site. I am registered member of paypal, i have verified my a/c. so dont worry its secure. I feel say paypal has much security features to keep your information private & secure. Many sites accepting Paypal as payment gateway for payment processing, even we can tranfer or pay money in foreign currency throught paypal.
@DavidReedy (2378)
• United States
16 Aug 07
Paypal seems to be pretty legit. and is seemingly-well trusted.
@lecanis (16647)
• Murfreesboro, Tennessee
16 Aug 07
I signed up with paypal years ago, and I've only had a dispute once because of a payment through paypal. They dealt with the situation beautifully and even covered a fee the whole situation caused on my bank account. So I trust paypal because I've seen that they will go the extra mile to protect your money.
I think when I first signed up I was a little nervous about it, but like I said I've been using paypal for years now. If there's anyone I trust online, it's paypal.
3 people like this
@pismeof (855)
• United States
16 Aug 07
Miami,You really should trust PayPal they are an encrypted site just like any commercial bank that you would deal with on line.If PayPal didn't exist than neither would E-Bay with hundreds of thousands of dollars flowing through the system each day.E-Bay uses the credibility of the merchant accounts through PayPal.
Can you imagine if people weren't satisfied with the service provided by E-Bay? E-Bay would seek to exist!
@anetteh (3590)
• Sweden
16 Aug 07
Hi again,
I have not put any accounts to my paypal. The monney I earn and get to my paypal accont shall I use for internetshopping. Therefore I never have to use my real account. I have not have any trouble to use paypal, however I have not used it very long.