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Pat Barry
12-12-2015, 10:09 AM
How much can I trust Paypal? They are asking me to link a bank account. In the past I think I linked a credit card but now they want the bank signin information. They will never divulge it (as far as they can guarantee). Do you folks link your banking information to Paypal. Am I worried without cause?

Mike Henderson
12-12-2015, 10:11 AM
I have mine linked - been like that for a number of years. No problems so far.

Mike

Gerry Grzadzinski
12-12-2015, 10:20 AM
PayPal is really no different than a bank.

I have an online business, and with the linked bank account, it's easy to transfer money between my PayPal and bank accounts.

George Bokros
12-12-2015, 10:21 AM
I use a separate account for linking to PayPal and keep a minimum balance in that account and add when needed. I have had it that way for several years and have had no issues. I WOULD not link to my main account just as they recommend for debit cards.

scott spencer
12-12-2015, 11:05 AM
Never had a problem with PayPal.

Frederick Skelly
12-12-2015, 11:12 AM
I use a separate account for linking to PayPal and keep a minimum balance in that account and add when needed. I have had it that way for several years and have had no issues. I WOULD not link to my main account just as they recommend for debit cards.

I agree. If PP has a bad day and the bad guys get your info, you've limited the damage they can do. Bad guys (literally) get paid to find ways into even well-secured systems. I never assume it can't happen to me - past performance is not a guarantee of future security.

Myk Rian
12-12-2015, 11:17 AM
I have my account linked to my CC, but not my bank account.
No freakin' way will I do that, just for the simple reason of they don't need it.
I have never had a problem with Paypal. We use it for everything we can. It makes things so simple.

David L Morse
12-12-2015, 12:31 PM
... they want the bank signin information...

If someone is asking for signin information it's a scam. It's likely a phishing email. PayPal will only ask for the information that is printed on your check - the same info that anyone you send a check to can see. Never ever give your online signin information for any account to anyone.

Jim Koepke
12-12-2015, 2:28 PM
My experience with Paypal on this is about a decade old.

They asked for my banking information. After they had it they made two deposits of a few cents each. Then I verified the amounts and that indicated to them that I had legitimate access to the account.

It makes it easy to transfer money from Paypal to my banking.

In the last decade my credit cards have expired and changed numbers a few times. The bank routing hasn't changed.

jtk

Pat Barry
12-12-2015, 2:39 PM
If someone is asking for signin information it's a scam. It's likely a phishing email. PayPal will only ask for the information that is printed on your check - the same info that anyone you send a check to can see. Never ever give your online signin information for any account to anyone.
This was no phishing email. This request comes directly from my Paypal account while I'm signed into Paypal and viewing my account status. I already have the CC linked and now they want the bank account. Funny - not just the account but also my online sign in. That's what I don't like.

First they give me this on the PayPal home page
327029

Then I get directed here to confirm my bank info
327030

Bruce Page
12-12-2015, 2:48 PM
I have mine linked - been like that for a number of years. No problems so far.

Mike


Ditto for me too. No problems.

Jim Koepke
12-12-2015, 2:52 PM
This was no phishing email. This request comes directly from my Paypal account while I'm signed into Paypal and viewing my account status. I already have the CC linked and now they want the bank account. Funny - not just the account but also my online sign in. That's what I don't like.

First they give me this on the PayPal home page
327029

Then I get directed here to confirm my bank info
327030

Do notice under the big blue button to "Confirm Instantly" there is a selection to confirm with random account deposits.

jtk

Pat Barry
12-12-2015, 2:54 PM
Ditto for me too. No problems.
Yes - I have my bank linked also and have used that to have Paypal deposit money back into my checking account, its just now they want more. They want my login info. I feel that's too much information

Jim Koepke
12-12-2015, 2:55 PM
Another thing to consider is with my banking linked I can send money to others without any fees.

If a credit card is used, either the sender or the receiver (maybe both in some cases) will be charged a percentage fee.

jtk

Pat Barry
12-12-2015, 2:56 PM
Do notice under the big blue button to "Confirm Instantly" there is a selection to confirm with random account deposits.

jtk
I think you are on to something Jim. I did that before and that allowed Paypal to deposit into my account. BUT, I don't think I went back into PayPal to confirm that with them

Jim Koepke
12-12-2015, 2:58 PM
I think you are on to something Jim. I did that before and that allowed Paypal to deposit into my account. BUT, I don't think I went back into PayPal to confirm that with them

Yes, you do need to confirm. If you don't, they may have reason to think you are not who you say you are.

jtk

Pat Barry
12-12-2015, 3:03 PM
Yes, you do need to confirm. If you don't, they may have reason to think you are not who you say you are.

jtk
Thanks Jim, I just did the confirm and its all good to go without my login information :)

Gerry Grzadzinski
12-12-2015, 3:27 PM
Yes - I have my bank linked also and have used that to have Paypal deposit money back into my checking account, its just now they want more. They want my login info. I feel that's too much information

That's only for the instant confirmation.
If you do the normal confirmation, they don't need your login info.

Kev Williams
12-12-2015, 4:12 PM
I've been using Paypal since 1999. Was nice when it was free. I don't remember the exact procedure back then, but I believe part of the verification was they USPS mailed verifications right to my house.

Anyway, in nearly 17 years, the ONLY glitch ever was about 3 years in, around the dot-com BS, they suspected a hack of a biz associate's account, so his and everyone he ever dealt with's accounts were frozen for a few days while they investigated. It was inconvenient, but I'd rather they hold my money than having someone steal it.

I do worry a bit every time they change owners, but no surprises...

George Bokros
12-12-2015, 7:18 PM
Funny - not just the account but also my online sign in. That's what I don't like.

First they give me this on the PayPal home page
327029

Then I get directed here to confirm my bank info
327030

I was never asked for my bank account sign in and would never give them that.

Kent Adams
12-12-2015, 8:28 PM
I've worked in banking for 25 years. I wouldn't trust anyone with my login to my bank account. I confirmed by sending in a picture of my driver's license.

Yonak Hawkins
12-12-2015, 11:10 PM
... not just the account but also my online sign in. That's what I don't like.


I would not consider doing this.

Mike Henderson
12-12-2015, 11:46 PM
Yes - I have my bank linked also and have used that to have Paypal deposit money back into my checking account, its just now they want more. They want my login info. I feel that's too much information

That is just used to confirm you. If you're really concerned about it, after they confirm you, change your password. You should do that every now and again anyway. They do not need your password to do transactions with your account - based on your request to transfer money to or from your account.

Mike

Curt Harms
12-13-2015, 10:28 AM
I use a separate account for linking to PayPal and keep a minimum balance in that account and add when needed. I have had it that way for several years and have had no issues. I WOULD not link to my main account just as they recommend for debit cards.


Separate account is the best way to go IMO. Just make sure the second account is not transaction limited. For instance, a savings account may be limited to a few transactions per month.

Kev Williams
12-13-2015, 5:39 PM
Paypal (nor any other biz on the up n up) has ever asked for login info. What they should be asking for is routing numbers, yes?

David L Morse
12-13-2015, 6:34 PM
Pat, sorry for implying that you might have been duped by a phishing email. I have since gone to Paypal and clicked through the "Add Bank Account" link and, sure enough, they wanted my login. Unbelievable. No, I will not give anyone that information no matter how much they promise to forget it.

I talked to my daughter today. She works for Paypal (the credit part not the banking part). She was as shocked as I at what they were asking for.

As far as providing them with checking account information I see no problem.

Pat Barry
12-13-2015, 8:26 PM
So, yes, they need the bank routing numbers. They don't need the bank login info They offer that as a way to get instant results. I didn't use that way. The other way is that you need to wait a few days for them to make a couple small withdrawals from your account (less than a dollar total) and then redeposit. They ask you to verify the amounts. I failed to see the fine print on that method until Jim K helped me out. Now its all good.