Re: PayPal a Good Deal for pay-pal ?


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Posted by Paul (in NY) on Sunday, March 23, 2003 at 11:06PM :

In Reply to: Re: PayPal a Good Deal for pay-pal ? posted by Rick E. on Sunday, March 23, 2003 at 10:29PM :

Yes, this is true, even the routing number is on the check, BUT you dont give them permission to use/invade your account or make automatic corrections they feel are in error.

On Friday,I talked with the local Bank VP.
Simply put, without going into all we discussed, he said any time you give your bank account number/routing and permission to
correct errors, you have a potiential BIG problem. He further told me that all these companies have fine print that allows them to invade your account to make corrections to errors they feel were made. Once you agree, and the correction for errors is part of the agreement, your at their mercy if a mistake is made. His opinion was never give anyone permission to have/use your bank account or Credit Cards for automatic payments or error correction.

There was a lot of talk about this on the Machine tool Forum a while back. If only 1%
was true, it would be a nightmare I dont want.

Strange, American Express and my Master Card do not want my bank account number to do business with them. They never asked and I never gave it.

Just my .02 cents.

Paul



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