Author Topic: Paypal advice (Read 4002 times)

vonkara · « **on:** December 07, 2007, 15:08 »

I need your advice about if I must open a new bank account to use for receive my microstock incomes from Paypal. This is for more security. This new bank account would protect my others bank account to be hacked via internet. Then I will just have to put this money in my real one quickly.

What do you guys think. Do I make this for nothing?

hatman12 · « **Reply #1 on:** December 07, 2007, 15:24 »

Very sensible strategy Vonkara.

alpy7 · « **Reply #2 on:** December 07, 2007, 15:43 »

I have always used a seperat checking account that I also check frequently online. I also use the debit card thruogh PayPal.

jsnover · « **Reply #3 on:** December 07, 2007, 16:51 »

I think it might be overkill to open a separate bank account. I've been using PayPal to receive payments for 3 years and have yet to have a problem.

I think making sure you use a different password from the one you use for your microstock accounts and perhaps changing it fairly often makes a lot of sense. Some people use that automatic password changing device (it costs $5 I think) for extra peace of mind.

https://www.paypal.com/us/cgi-bin/webscr?cmd=xpt/cps/securitycenter/general/PPSecurityKey-outside

vonkara · « **Reply #4 on:** December 07, 2007, 17:45 »

Thanks you for the advice. I wanted to know if some people was using the both options and now I know it. What I'm afraid of it's to having to send a stupid email to the Paypal customer service for big dollars. And receive after weeks a reply like Istock do when you are contacting them.

I think I opt-in for a second account, but not sure yet...going to ask them first what they do if there's a problem...

RacePhoto · « **Reply #5 on:** December 08, 2007, 00:41 »

If you have banks near you that offer free bank accounts, get one. I have four checking accounts now. One for business, one for eBay, one for photography, one personal. All free and two get interest.

You can do online transfers so it's no big deal if you prefer to transfer funds into a savings account or different checking account.

I've never had a problem with Paypal, getting payments or making them. You don't have to empty your account because most of the fraud is because people have their email accounts cracked or reply to phishing messages and then the crooks have their passwords. I don't like having fees nibble away at my payments, but I get paid by publications out of the US and they just send me a notice that they made a deposit via PayPal. The money is in the account, before the email notification. Sweet.

If the stock sites had a big security problem, we wouldn't just hear one case in three or four months, we'd have people screaming week after week.

Usually you'll have a bank account tied to a PayPal account, but you do not want to have a debit card listed as the credit card. Have a true charge card, so you are protected. If someone steals the debit card numbers, they can empty your account and you have less protection than a credit card.

If you make a purchase with your PayPal account and don't have enough funds, it can be automatically removed via credit card. Same goes for PayPal fees, that are taken right from your account, so you don't have to manage those or worry about that, but you need to keep a balance for any monthly fees.

yingyang0 · « **Reply #6 on:** December 08, 2007, 01:47 »

I think you should go to the tattoo parlor and have them tattoo a random sequence of letters and digits on your arm (or butt), then use that as your password.

To be serious, why do you think you need another bank account or that it would make you more secure? Adding more complexity (a new account) tends to detract from security rather than adding to it. If you're paranoid enough to be willing to go through the trouble of having multiple bank accounts then you should consider just having them send payments via check. That way your bank account and paypal isn't linked and you are much more secure. However, the butt tattoo would make you more like 007.

Clivia · « **Reply #7 on:** December 08, 2007, 02:40 »

I had a problem with Paypal a few months ago. $600 was taken out of my account without my authorisation.
I notified Paypal at once, and they were super efficient. My account was frozen until I changed my password, and Paypal refunded all the money back to me within 3 days.
They really are geared up to deal with problems quickly.

vonkara · « **Reply #8 on:** December 08, 2007, 09:20 »

Quote from: Clivia on December 08, 2007, 02:40

I had a problem with Paypal a few months ago. $600 was taken out of my account without my authorisation.
I notified Paypal at once, and they were super efficient. My account was frozen until I changed my password, and Paypal refunded all the money back to me within 3 days.
They really are geared up to deal with problems quickly.

That's great to hear about

maunger · « **Reply #9 on:** December 08, 2007, 10:01 »

i have read lots about people having their main banking account wiped out because it was linked to paypal... so i have opened my own personal savings account at ingdirect.com (you can get a new account bonus there of $25 (with $250 min deposit and i'll get a referral of $10) if you want to open an account there send me an email at [email protected])... besides the extra security i think it gains me, they are paying "Current Annual Percentage Yield: 4.20%" on the accounts there (which is darn good!).

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Author Topic: Paypal advice (Read 4002 times)

vonkara

hatman12

alpy7

jsnover

vonkara

RacePhoto

yingyang0

Clivia

vonkara

maunger

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