posted on September 27, 2000 05:01:16 PM
Perhaps we should more carefully anlayze the user agreement to see why they so badly want this bank account information. PayPal is essentially a merchant processor not a consumer, not a credit card issuer, and not a merchant so why do they truly need this information?
And again there are already laws regarding theft and fraud. As an experienced banker I feel that their correspondence is geared toward people who are unfamiliar with these laws and regulations which unfortuantely is probably most people, it's kind of like scaring it out of them - why not be forthcoming and disclose that you are already protected by federal law!!!! I just cannot see a legitimate reason to provide this.
By the way I used to include PayPal logos in everything and had over 50 referrals after the policy change with only 3 paid. I checked send me any changes, e-mails etc. but never received that phantom e-mail.
