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+--- Thread: Stay Away From Paypal (/showthread.php?tid=16222)
Stay Away From Paypal - stainboy - 02-02-2007
Though I agree that having a paypal account isn\'t as hack-dangerous as many would think, it is to be remembered that paypal is not a bank. It is not FDIC insured. All cash held by them is done so by faith only. If they ever accidentally lose your funds, there is no insurance that you would get a dime back. The only thing you could ultimately do is take them to court, which more often than not - would amount more in court costs more than your potential recovered claims. Even if it was a massive amount, all the good nature or self-righteousness in the world could not get money out of a company that filed bankruptcy.
Keep this in mind, young ones.
You should never have more than $10 sitting around in that account of yours.
Stay Away From Paypal - princeofdarknessMikeW - 02-02-2007
Very Good Point, I DONT leave money in my Pay Pal either inless I have stuff on watch on ebay and know I\'m going to buy within a days time...
IF you think MO is better your DEAD WRONG! ITS WORSE! A MO is CASH...Even if you try to cancel or stop payment on it, if its been cashed, its too late and they will check before they refund you. Exsample, two years ago my GF sent a MO to a person for a Christmas ornaments, it was alot of money $300 odd dollars, they cashed it, and we couldn\'t get a refund or the money back. To add they cancelled the ebay account, and there was no record of a forward address. The Phone number was DC...So there you go.
Anyone wanting Money Order, I tend to check out to the fullest, because if they cash it, and take off theres nothing you can do. You file a report with Post Office the police but I know law being an x State Trooper and for less than $5000 no ones going tospend the time and money esp the STATE to find this person, theres bigger fish to fry on the home front. Even if they do there no going to expidite them for that...
So your Up the Creek...
Mike