PP Notice of Not Enough Balance Left?????

[fredgold52]

I just got a notice from PP that I do not have enough balance left in my account to buy an item I wanted. I called PP Customer Service and was told there was a maximum I could buy with only a credit card attached to my PP account. And that I needed to give them my bank account to go further. That's simply PP's policy.

My card is good for $25,000. Since I joined PP in 2007 (2 years ago or so) I have spent $6.00 shy of $10,000 which is the limit for a credit card. I can't believe that PP is willing to let me stop doing business with them, given my buying history and my credit rating!

The problem is simply that I won't give them access to my bank account. A lack of confidence in PP is at the root of that.

I'll still use Ebay, but not for selling. And I will not be using PayPal any longer.  There are just too many ways to complete desired transactions without PP to shed any tears over this.

[profdata]

You have reeached your lifetime spending limit until you become verified.

The same infor that is on your check is the same info Paypal wants.

My checking account has been with Paypal from the beginning...I have had no problems.

[fredgold52]

I am pleased to hear you have had a good experience. 

My thinking is that if I was a hacker and wanted to make a ton of money very fast, I'd hack paypal.  If a hacker were to get my credit card, I would be contacted about strange or unusual purchases and we could stop it.  If the hacker had access to my bank account, I'd be **bleep**ed.

We all make our own decisions, and deal with the consequences.  I hate to give up the convenience of PP, but if they can't do business with me with my credit card, then I guess we can't do business.  Seems to me it's their (PP's) loss.

[sandypurins]

Some people open a new, low balance bank account for PayPal and internet use... you might consider doing this so that you can continue to use PayPal to send payments.

Sandy

[fredgold52]

Now we're in an area of principle.  While a low amount bank account for PP sounds like a good idea,   I have made purchases of $800 to $1,000 a few times on Ebay.  My idea of a low amount checking account wouldn't begin to cover that sort of purchase.

Not being willing to do business with someone with a credit rating over 700 and a $24,000 credit card and an excellent purchasing history just seems like a really dumb business decision.  Amazon is willing to work with me like that for the rest of my life.  And PayPal?  Well not so much I guess.

[papi]

I think paypal is preventing fraud and money laundering that's why they need to have your account verified to lift your spending limit.. Because anyone can just buy fraudulent credit card numbers and start laundering on the net. I'm sure paypal isn't that stupid to not have security installed in their system. Maybe this is also the reason they use ACH transfers when it comes to bank transactions so that you can still act on it when their is unauthorized charges.

[papi]

" you can still act on it when their are unauthorized charges."  sorry wrong grammar.

[profdata]

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@fredgold52 wrote:

Now we're in an area of principle.  While a low amount bank account for PP sounds like a good idea,   I have made purchases of $800 to $1,000 a few times on Ebay.  My idea of a low amount checking account wouldn't begin to cover that sort of purchase.

Not being willing to do business with someone with a credit rating over 700 and a $24,000 credit card and an excellent purchasing history just seems like a really dumb business decision.  Amazon is willing to work with me like that for the rest of my life.  And PayPal?  Well not so much I guess.

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You don't have to use the bank account for the purchases.  You don't even have to have a penny in it.

You can still use your credit cards. 

The bank account will become the default mode of payment, and you will have to choose "other funding options"  and choose the cc from then on.

You are afraid of someone hacking Paypal (its never been done) and using your checking account.  You do know that each check you write, you are giving strangers the same account info.

[fredgold52]

Here's the latest.  I offered to buy an item and the seller accepted my offer.  PayPalwouldn't let me do it.  I offered to buy it with a money order.  In my ignorance, I thought I could charge the money order.  I then found out that money orders and cashiers checks can't be bought with a credit card.  I don't have the cash and I don't have a debit card which are the only two ways either of these methods of payment can be paid for.

The bottom line is that I am unable to live up to my obligation to purchase the item.  The seller sent me an email filled with really tough language and threats.  I responded with my sincere apology.  That's really all I can do. 

I don't know what will happennext.  Probably nothing, but it's impossible for me to feel good about any of this.