Thoughts on PayPal?

Speeduser7533

Do any of my security-minded friends here use PayPal, or anyone distrust it for any reason?

Hb1hf

Speeduser7533 it's definitely waaay worse privacy-wise than just using your bank:
https://snoo.habedieeh.re/r/privacy/search?q=Paypal&restrict_sr=on

The company also has a firm stance on using it's power to impose a political agenda, which might be reason alone to not use it.

Finally, in some countries, banks allow you to generate temporary credit card numbers for online transactions, so the security gain by using PayPal is minimum. If that's not your case, there might be a security benefit from using PP as a middle man and avoiding giving your actual card number, expiration date and security code to every small online retailers with questionable cybersecurity capabilities.

But there might be alternatives. Privacy dot com in the US, for example.

Aeon

I use it for online purchases as its easy and fast.

I dont have any money in my PayPal account, when I pay for something PayPal gets the money from my bank account by SEPA direct debit. No fussing around with Credit Cards.

I live in Europe and PayPal has a European banking license, so they are regulated like any other bank here. But like any Bank and Credit Card its KYC and not private.

I would not use it if i lived in the USA as PayPal now has a opt-out thing where they share customer buying behavior with third parties. They dont do that with European PayPal accounts (yet).

finitefutility

Aeon I dont have any money in my PayPal account, when I pay for something PayPal gets the money from my bank account by SEPA direct debit

If your PayPal account is hacked, they could empty your associated bank account via direct debit. Your bank wouldn't care if it happened and PayPal is difficult to engage sensibly with.

I paid into a PayPal pool for a work gift, without an account. It was blocked. I could not supply documentation they asked for because I did not have an account. Customer service reps were too stupid to help me. After 18 months, they returned the money to me. Insane!

[deleted]

Paypal... Ha ha ha
Their ability to freeze a well run, non problematic account is legendary. Their ability to keep you at a distance with a bot acting like a fire wall is not my thoughts but personal experience.

Scott

I have a PayPal account, but I use it as little as possible. I have made a transfer from the bank to my PayPal account.

PayPal is a cancer, but unfortunately a monopolist that is hard to avoid.

lost_cause

Starting next year, PayPal will share your data and it will begin collecting it next month.

If you do decide to go with PayPal you will have to manually opt-out in your account if you don't want this "feature".

Aeon

finitefutility If your PayPal account is hacked, they could empty your associated bank account via direct debit. Your bank wouldn't care if it happened and PayPal is difficult to engage sensibly with.

I would have that money back in minutes, its matter of 3 clicks to dispute fraudulent/false direct debit charge in my banks online banking portal. At the same time disputing, would also remove Paypal the permission to charge my bank account by direct debit.

Hb1hf

Aeon yeah... If you MUST use PayPal, you must NOT direct link your bank account!

finitefutility

Aeon I'm glad you are confident in your bank, I hope you'd be right. Seems an awful risk to me!

Aeon

finitefutility

Not really a risk as I already have experience with it. happened twice in the last 10 years, money was back after a minute or so. I just have to regularly check my bank statement as the time window to despute a faulty direct debit transfer is 14 days.