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PostPosted: Thu Jul 01, 2010 6:11 am 
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Legmaker72 wrote:
Otto,
PP can really draw monies out of your bank account without permission. ?
I find that unsettling if it is accurate.
Seems like they would need consent from the account holder to do something like that.


I don't think PayPal can take money out of your account without your permission.

I once placed a chargeback case with my credit card, then PayPal placed restriction on my account and asked me to deposit funds in the amount of chargeback until the case closes. All that time PayPal had access to my bank account and several credit cards and they never took any money from my accounts. Even more, I had incoming payments and cash balance in PayPal account (about $900) and they never touched that money either.

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Chronomat :: Evolution Red | Evolution Frecce Tricolori | Longitude
Navitimer :: Montbrillant Eclipse | Old II | Current
Professional :: B-1 | B-2 w UTC
Colt :: GMT


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PostPosted: Thu Jul 01, 2010 6:22 am 
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You need to be very careful these days.

I recently did some reading on possible frauds. It turns out that almost every method of payment could be prone to fraud: there are fake Postal money orders, fake bank checks, bank transfers that can be reversed. And I am not even talking about PayPal, where any payment can be canceled. You could be unpleasantly surprised several weeks down the road, when your watch is already gone and your bank inform you that the payment bounced.

I talked to my bank and they told me that the only 100% safe method for a seller is cashiers check, but then you buyer needs to have enough trust in you as a seller to send you one.

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Chronomat :: Evolution Red | Evolution Frecce Tricolori | Longitude
Navitimer :: Montbrillant Eclipse | Old II | Current
Professional :: B-1 | B-2 w UTC
Colt :: GMT


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