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...
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ELEVEN - rotary cutter tool machines
FOUR - CO2 lasers
THREE- make that FOUR now - fiber lasers
ONE - vinyl cutter
CASmate, Corel, Gravostyle
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.
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
Go into the world and do well. But more importantly, go into the world and do good.
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?
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ELEVEN - rotary cutter tool machines
FOUR - CO2 lasers
THREE- make that FOUR now - fiber lasers
ONE - vinyl cutter
CASmate, Corel, Gravostyle
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.
Last edited by Keith Outten; 12-14-2015 at 3:33 AM.
Beranek's Law:
It has been remarked that if one selects his own components, builds his own enclosure, and is convinced he has made a wise choice of design, then his own loudspeaker sounds better to him than does anyone else's loudspeaker. In this case, the frequency response of the loudspeaker seems to play only a minor part in forming a person's opinion.
L.L. Beranek, Acoustics (McGraw-Hill, New York, 1954), p.208.
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.