Pay Pals Request for On-Line Banking Password

[Damma]

In order to sell with Ebay, Pay Pal asked me for my on-line banking password.  I had a choice of either giving them my password, or waiting for the 3 days for verification by small deposits.  I have not found any other posts where people say Pay Pal asked them for this password, and when asking PayPal, they just say the usual "...in order to protect you we may ask certain information......" but never actually tell people WHAT they ask them.  I find it hard to believe that no one else out there is disturbed by this latest request.  AND NO, I was not being hacked, spoofed or phished.  It WAS PayPal.  Any ideas about why there's no information about this disturbing practice? even from PayPal itself?

[snowshoe]

You have the choice as to what to do.  Not sure what the issue is?  You can do an instant verification or wait a few days.

[Damma]

Yes, I think I said that they offer you a choice.  But my question remains...I still am asking if anyone else is bothered by this practice of asking someone for their on-line banking password.  I can see it doesn't bother you, and that's fine,  but I would like to know if anyone else finds it invasive.

[BonGems]

I agree with you.  I added a new bank account recently.  PayPal asked for my online banking user name and password to "instantly" verify the account, or, alternatively, waiting for the two small deposits to show up.  I waited for the deposits.

At first, I thought asking for this info was some mistake or a scam, but, I too checked it out and it really is PayPal.  I am really disturbed at the idea of giving this kind of bank information to anyone.  The information says it is not kept or stored.  But who believes that?  Wouldn't it be just great to find one day that your accounts have been cleaned out "by accident", because of some glitch in PayPal's programming?  That's pretty scary.

[Damma]

Yes, scary indeed.  I asked Paypal about this and they never actually say the words in writing"we will ask you for your on-line banking password", they just say that they will ask you for information to verify your identity...blah, blah, blah, for your safety...blah, blah, blah.  Good for you for waiting for the 2 deposits.  I did the same.  They have no reason to ask for that number, in fact, I just notified Wells Fargo and asked them to look into it.  Pay Pal and Ebay both maintain that "due to new Government Regulations, you may be asked for certain information...." in other words, big brother wants your bank account.  It's like the people who say "I don't care what the Government asks of me, records me doing, etc....I have nothing to hide"....those thoughts will be the undoing of what we know as America Today.  It's all starting to unravel.  And the scary part is, the majority of todays young people are conditioned to just "bend over and take it".