Paypal security hole-BEWARE

[MoonlightMedia]

PayPal is a piece of sh*t

Lost a valuable domain to a theif cause of their weak terms

[Seraphim]

Originally Posted by MoonlightMedia

PayPal is a piece of sh*t

Lost a valuable domain to a theif cause of their weak terms

Been screwed over with them many many times, so here is what I did. I setup a verified business account, it has one funding source ONLY, and that funding source allows deposits only, and no withdraws [manually blocked]. Each time I sell a domain, I instantly deposit the money received straight into my bank account, always leaving my PayPal balance at 0. So far in 3 years I have never lost a single chargeback dispute with that account, yet with my personal account I would lose nearly every single dispute because PayPal could easily tap into my funding sources. So my conclusion throughout all of this is that if PayPal looks for money to grab, they will always go after the easiest source, so if you lock them out of being able to take it from you completely, they will have no other choice but to chase the fraudulent buyer, and likely eat a loss. The downside of my business account is that I have a $500 withdrawal limit per month, but that is extremely easy to bypass by sending money to a second personal account without limits [having both is permitted].

Assuming my setup and perfect chargeback denial record isn't some glitch / blackhole, give it a try.

[MoonlightMedia]

Thank you for the information. I'll make note of that. I actually got the money to my bank account. Thereafter, Paypal proceeded to take the money directly out my account using my credit card. Name is not valuable enough for a legal fight, but close. From paypal to taxes, a lot of sh!tty loopholes when it comes to intangible assets.

[Seraphim]

Originally Posted by MoonlightMedia

Thank you for the information. I'll make note of that. I actually got the money to my bank account. Thereafter, Paypal proceeded to take the money directly out my account using my credit card. Name is not valuable enough for a legal fight, but close. From paypal to taxes, a lot of sh!tty loopholes when it comes to intangible assets.

PayPal reminds me from time to time that if I link a credit card and SSN with that business account, they will drop my $500 withdrawal limit. However now knowing why they really want that information, not a chance I'm coughing it up. I'm done eating their liabilities.

[fab]

Sad story. What's the end?

[aZooZa]

Originally Posted by Seraphim

Been screwed over with them many many times, so here is what I did. I setup a verified business account, it has one funding source ONLY, and that funding source allows deposits only, and no withdraws [manually blocked]. Each time I sell a domain, I instantly deposit the money received straight into my bank account, always leaving my PayPal balance at 0. So far in 3 years I have never lost a single chargeback dispute with that account, yet with my personal account I would lose nearly every single dispute because PayPal could easily tap into my funding sources. So my conclusion throughout all of this is that if PayPal looks for money to grab, they will always go after the easiest source, so if you lock them out of being able to take it from you completely, they will have no other choice but to chase the fraudulent buyer, and likely eat a loss. The downside of my business account is that I have a $500 withdrawal limit per month, but that is extremely easy to bypass by sending money to a second personal account without limits [having both is permitted].

Assuming my setup and perfect chargeback denial record isn't some glitch / blackhole, give it a try.

Interesting. I'd like to know how that works in the UK. AFAIK you have to have a direct debit set up with every bank account added so they can debit you as well as credit you. Anyone else from the UK on this?

[DNGeeks]

Fantastic banking help

Paypal is NOT a bank. They are not regulated and are answerable to no one but themselves.

[GAMEMAN]

Oh My God .

Limit your Use whit Paypal .

PayPal is a good and simple street for the Thief .

We don't have Paypal protection for Digital Product .

I lose More Money whit this SH.. Paypal .

[VirtualT]

Originally Posted by GAMEMAN

Oh My God .

Limit your Use whit Paypal .

PayPal is a good and simple street for the Thief .

We don't have Paypal protection for Digital Product .

I lose More Money whit this SH.. Paypal .

simple, use paypal with people you trust only

[myst woman]

yeah, evidently that's not hostgator.

On an account set not to renew, the customer support responded to my repeated emails to cancel (because I couldn't get in to confirm it was set to cancel, because the password wouldn't work.)

They changed the option to renew purely on their own and now i am being told i can't get a refund because i have to fill out a cancellation form 24 hours prior.

Wouldn't that have been a good time to get into the billing system and find out if this were true? Funny how none of the customer service responses to over a dozen emails ever mentioned anything about a cancellation form.

But I guess since that thoughtful Hostgator employee decided to change the option from cancel to renew (not letting me in but making these changes at midnight on a saturday/sunday protecting Hostgator's option to just charge my card) i won't get the chance to operate my account with respect to my own needs.

How could the customer service change the not renew to renew and just charge the card like that? How can they initiate charges on the account instead of just giving me my password? I'll be funding hostgator on a continuing basis until such time as they feel "ready" to stop charging my card. And if I do fill out the cancellation form, hey they'll just make sure I can't get in the system 29 days from now!!!!

wheeeeeeeeee!

A direct email request to get the billing password to make sure the account will cancel is met with...the hosting company initiating a change to renew and recharging the account. how subtle, yes you can cancel but only if you can get in our system!!!!!! and if you try to check and make sure heh heh heh we'll charge ya anyway!!!

these hosting companies are getting too toxic to deal with.

I am on the point of closing my Paypal account over this. Too many tricky billing problems with companies who paper their websites with 'we are all about customer service".

[mulligan]

Fairly simple approach (When I got stung by GoSmelly a few years ago I learned this)

Log in to PP >> Profile >> Pre-approved Payments (Under 'Financial Information') >> Cancel everything that you don't want to be a recurring charge. (GoSmelly are infamous for getting you to 'allow' them to charge a maximum of $500 to your PP account each month, you need to manually cancel it in your PP account, as per above .. Oh yeah, It's all in the small print .. probably!)

Needless to say, apart from that and their upsell checkout / interface / customer nonservice I no longer have a non business relationship with GoSmelly

*Apologies for going off topic there*

[domainplus]

I lost over 900 last month on fake softwares..And they said they have no protection program in place for deals outside ebay.

Rubbish CS showing me user agreement...

[tristanperry]

Sorry to hear this; PayPal really can be awful.

Originally Posted by mulligan

Fairly simple approach (When I got stung by GoSmelly a few years ago I learned this)

Log in to PP >> Profile >> Pre-approved Payments (Under 'Financial Information') >> Cancel everything that you don't want to be a recurring charge. (GoSmelly are infamous for getting you to 'allow' them to charge a maximum of $500 to your PP account each month, you need to manually cancel it in your PP account, as per above .. Oh yeah, It's all in the small print .. probably!)

Ah yes, I hate this about GoDaddy.

Whenever I buy something through them (which is rare nowadays, thankfully) I always come back later to find I've got a recurring payment agreement with them.

Gee, thanks, GoDaddy. There's no real reason for this.

The other day I noticed a $12 automated charge come out of my PayPal account (either $12 or closer to $20, can't fully remember). The transaction itself barely listed any details (just the e-mail address who it came from.. GoDaddy - but not what I was being billed for or anything helpful)

After contacting GoDaddy they apparently charged me this $xx fee for renewing an old .us domain I had in an old GoDaddy account which I had forgotten about. (My own fault for forgetting I guess)

They were able to do this with an old recurring payment from well over a year ago in an old PayPal account I had.

I guess I should have been more aware, although I never realised (at the time) that when I initially regged this name, a recurring payment had been set-up, which then was re-billing me an OTT renewal fee.

It's annoying that there are so many... less-than-kosher company practices out there. I still can't understand why GoDaddy automatically set-up a recurring payment whenever you buy through them - this can allow them to take $500/month ($6k/year!!) automatically from you, even if you only ever register one domain through them for $5/year. Nor can I understand why PayPal allow it, but there we go - it'll only drive customers away.

[Scorpiono]

I had this recurring problem with them, emailed GoDaddy and they refunded.

Note: Be nice when you write to them!

[trader]

Originally Posted by tristanperry

I still can't understand why GoDaddy automatically set-up a recurring payment whenever you buy through them

It is obvious why they do it! Been there and done that with Godaddy hosting or other non-domain name services where it's real involved and tricky to figure out how to cancel the recurring payments. The GD computer appears to scout all the payment methods ever used - both credit/debit cards and paypal until it finally finds one which still works, and bills it. To stop that I tried deleting all the cards and methods but would not allow me to delete the final one saying I had to keep one valid payment method on file at all times.

[domainaccess]

there're many services & providers that "autorenew" via paypal, & the do-not-autorenew or cancel-upon-expiry option is sometimes just quite difficult to find..