Dont be fooled by paypals claims of security. Like I was. They are lies and it is a frivolus attempt to get you to place your money in thier hands.
They use these security claim to have full authorization to lock or limit your account.
They have a user agreement that basically gives them the right to do whatever they want with YOUR MONEY.
They recently froze the funds of my buyers group. We had over $23,0000 dollars in that account. They made every excuse to keep that money locked up even after we called and faxed them all the info they were trying to get. They then tried to ask for information that was not pertinent to our case.
All the phonecalls led nowhere and all the emails were responded after 5 days with yet another runaround.
I was one of the lucky few. I sent a reversal notice for all the members of the buyers group. BY LAW they had to agree. Not to mention paypal spies were watching a conversation I was having on Link hidden: Login to view forums site. with a attourney that was showing me how to file a lawsuit locally and I was about to file against paypal when they returned the funds.
1 attempt to get me to believe that the lawyer was a fraud failed. I defended the lawyer and the person that tried to stop me deleted thier post. Right after that our money was retuned to the buyers.
DONT BE FOOLED! I was not the only victim. So far paypal has victimized over 10,000 people. Dont be next on thier list. Paypal is not a financial institution, they hide behind thier useragreement.And are not FDIC insured.
If you use them for small value I would say they are ok, But if you have alot of money in your paypal account expect future problems. Or if you become a high volume seller.
Switch to Link hidden: Login to view
Most ebay users know that paypal sucks at resolving issues. That is why most of them use credit cards to make ebay purchases. You wont loose much by switching to bidpay. But you will gain security of having your money dumped into your own account and protected by FEDERAL BANKING LAWS.