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I want to use Paypal with a credit card only. I do not want Paypal linked to my bank account. I have had 2 instances where my Paypal account has been hacked. I was able to work with Paypal to get the charges reversed, but not until after the bank had charged me overdraft penalties.
Why do they need my checking account info? Credit card info should be sufficient.
I have some recourse with my VISA card, but with my checking account a thief can rob me blind!
The ONLY way to deal with online payments, if you must divulge a checking account number, is to set up another checking account JUST FOR online payments. Keep just enough in there to cover whatever you are doing. Use the "transfer funds" option from your online banking institution to transfer whatever you need into your regular checking (or vice versa), savings, etc. and keep the online payment service out of the loop. Then if it gets hacked you are only out a small amount that you use to keep the account open.
I couldn't agree more. I have now resorted to using credit cards and wire transfers to complete purchases that I would otherwise do through PayPal. PayPal's policy makes absolutely no sense. If I have actually demonstrated my reliability by spending $10,000 through PayPal over 5 years, billing through a credit card, why would they feel the need to cut me off when I hit the $10K mark? in fact, I would have
hit the $10K mark years ago were I not purposely avoiding PayPal payments!
It should be quite the opposite. Anyway, I’ll simply avoid Paypal transactions,
work around them or avoid entirely any merchant who doesn’t give me an
alternative. Unfortunately, PayPal's inane policy of cutting off someone AFTER
they have demonstrated their spending reliability to the tune of $10,000, gives me
no choice but to avoid PayPal to the extent I can and reserve my use of it to those increasingly rare situations when it is the lesser of evils.