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First submission: body bagged! Fake Coin!

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Wrong. Dude, I may be a newbie on this board, but I'm not a newbie to the Card Industry. What I said above is true... period. wink.gif

 

I'm not questioning that debit cards have an associated protection (eventually). You are, however in a position when using them to have your checking account ripped off. You didn't address my other points about having one's checking account emptied, either. I am pointing out that there's no point in providing someone with access to your private supply of cash when a regular issue credit card provides you with a safer alternative. I'm not the only person who doesn't like debit cards with visa/mastercard logos

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...having one's checking account emptied...

 

I guess since I never have much money in my checking account, 893scratchchin-thumb.gif, I guess I don't think about it that way.

 

Anyhow, I think I should clarify something..

 

I do not go around willy-nilly giving my debit card number to everyone joker on the 'net. I was talking about funding PayPal transactions.

 

Let's say I buy someting on Ebay that is $200 and my PayPal account is zero...

The default choice on PayPal is to do a direct withdrawl from your bank account for the $200 (this is called an ACH transaction in the business.) What I prefer to do is to use my debit card to fund the transaction. It does not cost me anything, and the money comes from the same account. At the end of the day, there's no real difference as far as my wallet is concerned. PayPal doesn't like it becasue doing the ACH is cheaper for them than the credit card trasnaction, but screw'em.

 

Meanwhile, if I later find the above mentioned $200 item was a rip-off, I will get a refund quicker from my bank/debit card provider, than I would have through PayPal. Getting an ACH reversed at the bank is a big pain in the arse.

 

So my point was if the choice for a PayPal transaction is to remove the money from your bank account (the default choice) OR use a debit card that draws from the same money, use the debit card.

 

cheers

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Never having been in a situation where I needed a refund for something I got with PayPal, I find myself wondering:

 

Would the debit issuer even consider a problem with your paypal purchase to be covered under their agreement? As far as the bank's concerned, your transaction to move money from your account to paypal went off without a hitch. You then did a second transaction between paypal and the seller which had a problem. If I was the bank, I'd say the problem was between you and paypal. I wonder if that's how it would work in real life?

 

From the link I posted above, there's reports of PayPal debiting people's accounts more than once (in one case 20 times) for one amount. That is another way you could find yourself with an emptied checking account (or just without access to some of your money.) That's not funny when you start bouncing checks or miss a credit card payment for insufficient funds. You can rack up some serious bank fees and/or damage your credit by doing that. Much, much better to purchase things online using a credit card and pay it off every month.

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Never having been in a situation where I needed a refund for something I got with PayPal, I find myself wondering:

 

Would the debit issuer even consider a problem with your paypal purchase to be covered under their agreement? As far as the bank's concerned, your transaction to move money from your account to paypal went off without a hitch. You then did a second transaction between paypal and the seller which had a problem. If I was the bank, I'd say the problem was between you and paypal. I wonder if that's how it would work in real life?

 

Aye, that's the rub: Your bank will consider it a purchase from PayPal... really. You see, banks don't view PayPal as just another merchant. They view PayPal as an outfit that acts like a bank, even though they have no bank charter. This is why some banks are trying to circle the wagons and create competition for PayPal. Take a look at WorldPay.com. It's run by RBS and is gaining a lot of ground in Europe.

 

From the link I posted above, there's reports of PayPal debiting people's accounts more than once (in one case 20 times) for one amount. That is another way you could find yourself with an emptied checking account (or just without access to some of your money.) That's not funny when you start bouncing checks or miss a credit card payment for insufficient funds. You can rack up some serious bank fees and/or damage your credit by doing that. Much, much better to purchase things online using a credit card and pay it off every month.

 

Believe me I hear ya. I've been to PayPalSucks.com a number of times myself and don't plan on accepting payment through them much in the future. However, I believe the horror stories of debiting your account 20 times came before Ebay took over. Ebay was catching hell because people associated PayPal with Ebay and back then PayPal had no published phone numbers and Ebay did. So Ebay called PayPal and said "I'm gonna make you an offer you can't refuse" and bought them.

 

 

893blahblah.gif893blahblah.gif Anyhow, I think it's clear that neither one of us is a fan of PayPal. I was trying to give examples of how people could try to not let themselves screwed. Frankly, I'm tired of arguing. flowerred.gif

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Oh, WW, I wasn't considering that an argument. I felt like we were just discussing our different views in an amiable way. I hope you didn't get the impression there was any animosity coming from my end. flowerred.gif

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