posted on November 21, 2000 09:55:02 AM
I just tried to add Compubank account on my Paypal account. My X.com account is closed now. It let me add my Compubank account but it *did* throw up a red message that said more or less that my Compubank account was okay for when I wanted to withdraw funds from Paypal, but it wouldn't work if I wanted to add funds to my Paypal account from my Compubank account...and that if I wanted to be able to add funds to my Paypal account from my bank account, then I'd need to put in a different bank account.
Well, I don't WANT to add funds from my Compubank account to my Paypal account, so I don't need to add another account, right? AND SINCE COMPUBANK ACCOUNTS WORKS JUST FINE FOR TAKING $ FROM PAYPAL, THEN THERE IS NO REASON WHY IT SHOULDN'T WORK FOR VERIFICATION PURPOSES - RIGHT?! The message plainly said that it was okay for putting $ INTO COMPUBANK account- just not for taking OUT of COMPUBANK account. Since Paypal puts $ *IN* your bank account for verification procedure, it ought to work just fine for verification.
Is there any reason it wouldn't? I can see none....But if Paypal can't take Compubank account for verification purposes, then it looks like the ONLY reason is that they can't take money OUT of the Compubank account - that doesn't have SQUAT to do with being able to verify with 2 small deposits, does it? If this is the case, then it looks like they are determined (?) to have a way to take money out of your account - (even though they say they won't, they insist on a bank account that will let them, and balk at one that won't?)
If Compubank is good enough for everyone else (Billpoint,etc.) but not Paypal, well... I need to either quit using Paypal altogether or I need to get a free checking account at another bank...and make sure I never have but a few dollars in it..and use THAT for Paypal's verification...and later on having THAT bank block access to it by Paypal.
It really looks bad - it looks like Paypal is insisting on being able to withdraw from bank account, calling it "verification" ...but really has nothing to do with proving you are legitimate seller, with a real bank, etc. Compubank is a real bank...they just won't let Paypal pull $ from the accounts..?
posted on November 21, 2000 02:34:48 PM
No,I haven't talked to Compubank about it whatsoever. I am going on what Paypal's message said - you know, the message that popped up when I added my compubank account to my paypal account? Paypal popped up a message which said more or less that the new bank account I put in was okay if I wanted to get money OUT of paypal and into bank account, but it wouldn't work for taking money OUT of compubank and putting it into paypal account... i.e. Paypal can't draw $ out of it...
Wonder why?
The point still is....they can easily "verify" I am who I am by doing the two small deposits thing with my Compubank account..but they insist on a bank account that lets them draw OUT as well (even though they say they won't do that without your permission...)..otherwise you're not "verified"....?
posted on November 21, 2000 04:20:16 PM
Reason you cant fund your paypal with compubank and others jumping on this band wagon is that bank are banning paypal withdrawals due to to many fraud complaints.
compu bank is one of many this is why paypal now recomends brick and mortor banks for verification but I am hear of some of these now blocking paypal too.
I started noticeing this happening after the notice from xcom that they would be closeing accounts as of December 1 http://www.Dman-N-Company.com
posted on November 27, 2000 11:46:30 AM new
Same thing happened to me over a month ago when I switched to Compubank. I still use them and will continue to use Paypal as long as they do not do anything about insisting on "verification". You are right, they could verify with the deposits, but they want to be able to charge back in order to verify.
I like Compubank and feel they are very secure. I just add a note to my emails telling buyers they can use Paypal if they wish, but I am "unverified" because Paypal does not recognize my online bank account.
Since I have nearly 1000 positive feedbacks, I haven't had a customer question it yet.
posted on November 27, 2000 12:53:49 PM new
dman3 you are wrong. It's not that compubank is banning PayPal, it's the other way around. PayPal is saying that a compubank account isn't sufficient evidence to prove your identity. PayPal wants you to use another bank. compubank cannot control what banks PayPal accepts for verification obviously, so this is just a decision on PayPal's part.
posted on November 27, 2000 02:28:33 PM new
If the purpose of verification is to "prove your identity," why is everyone who verified an X.com account being UNVERIFIED?
Their "identities" haven't changed just because X.com is closing.
posted on November 28, 2000 11:30:15 AM new
because once a bank account is closed, that account can no longer be used to prove your identity, if that should become necessary.
