posted on November 13, 2000 04:31:29 PM
Found this on Ebay. Seems a paypal user tried to pay for an auction by transferring funds from their bank to their paypal account. Their bank denied the request, citing that they no longer process x.com or paypal transactions due to the high fraud level activity.
Gives you pause, huh?
Don't know how to do a link here, but here is the info you need to read it.
posted on November 13, 2000 04:45:04 PM
Fraudulent activity... I wonder if that means people fraudulently withdrawing funds from others' bank accounts??
posted on November 13, 2000 05:30:11 PM
This doesnt suprise me in the least.
Were talking about a company here who's Idea of protecting creditcard users from fraud is by trying to make them believe they must verify there bank account with them.
when the fact is creditcard users were alway protected from fraud with charge back rights to begin with.
were talking about a company that say they must live up to california laws and as such dont charge credit card users a fee to user there credit card.
If you read there TOU you find they actually charge international users 2.9% + .30 to pay us with there credit cards on top of the 1.9% +.25 they charge the seller.
were talking about a company here that say it offer all sellers who verify there checking accounts up to $5000 protection a year from credit card fraud and charge backs.
When in reality if a buyer starts a charge back or they supect the buyer used a stolen card on a transaction they made to your account they simply freeeze 100% of the fund in your account before they even begin to investigate the matter or inform you why .
paypal x.com the company that shuts down deposits to x.com checking acounts with just about two and a half weeks notice.
the same company that decides suddenly with less then an hour notice they no longer will allow Over draft protection on checking accounts.
oh also this is a company that shuts off all banking services of FDIC insured Checking accounts with less then a 60 or 90 day notice to depositers.
these are the company bank(s) will no longer want to accept tranfering money too and they claim the FBI is investigateing do to many complaints of fraud naaaa cant be.
