Aarrgghh !!! Paypal account $3000 in debt ???

[garystu1965]

Tried to sell an item on eBay and it wouldn't accept my paypal option asking me to upgrade my account. So I went into eBay and saw a raft of large transactions to an unknown payee which has left me -$3000 on my account

I've filled in a fraud form and am extremely worried about this.

I think my paypal is linked to mmy bank account so does that mean paypal can suddenly debit this amount from my account ?

I'm going to ring my bank up tomorrow to remove any link I have with paypal so they can't take any money out. The transactions were in early to middle May so paypal will have tried to deduct money from my bank by now I would assume.

Anyone else had any trouble with paypal ?

 

[ADY1983]

No, I hope you get this sorted soon though, I thought PayPal was safe can't trust anything anymore...

 

[grober]

Leaving the country!

BBC's working lunch had an item today to say PAYPAL is transferring its centre of operations to LUXEMBURG. Reason given is that VAT is less there, however it means it will no longer regulated by the FSA!!

 

[masqueraid]

[FONT=verdana,helvetica,sans-serif]We would like to announce important developments affecting all PayPal accounts in the European Union (the "EU").[/FONT]

[FONT=verdana,helvetica,sans-serif]No action is required on your part, and you will be able to continue using PayPal with no changes.[/FONT]

[FONT=verdana,helvetica,sans-serif]Currently, PayPal (Europe) Ltd. is the service provider for PayPal in the EU. PayPal (Europe) Ltd. is a UK company regulated and authorised by the Financial Services Authority (FSA) in the UK as an electronic money institution. This authorisation enables PayPal to provide its service throughout the EU.[/FONT]

[FONT=verdana,helvetica,sans-serif]From 2 July 2007, a new PayPal company, PayPal (Europe) S.à r.l. & Cie, S.C.A. (PayPal Luxembourg), will become the service provider for PayPal in the EU. This is a Luxembourg entity regulated as a bank by the Commission de Surveillance du Secteur Financier (CSSF), the Luxembourg equivalent of the FSA. PayPal Luxembourg will provide the PayPal service throughout the EU.[/FONT]

[FONT=verdana,helvetica,sans-serif]Your customer relationship with PayPal[/FONT]
[FONT=verdana,helvetica,sans-serif]On 2 July 2007, your customer relationship will be automatically transferred from PayPal (Europe) Ltd. to PayPal Luxembourg. This includes your customer relationship as governed by the terms of the PayPal User Agreement and, for applicable UK merchants, the PayPal Website Payments Pro Agreement (collectively, the "Agreements").[/FONT]

[FONT=verdana,helvetica,sans-serif]To summarise, from 2 July 2007, PayPal (Europe) Ltd. will assign to PayPal Luxembourg all its right, title, interest and benefit in and to the Agreements.[/FONT]

[FONT=verdana,helvetica,sans-serif]New User Agreement and Privacy Policy[/FONT]
[FONT=verdana,helvetica,sans-serif]As of 2 July 2007, PayPal Luxembourg will have a revised User Agreement and Privacy Policy.[/FONT]

[FONT=verdana,helvetica,sans-serif]The revised User Agreement will help users more easily understand PayPal's terms and conditions and will incorporate many of the policies currently accessed by hyperlinks.[/FONT]

[FONT=verdana,helvetica,sans-serif]Under the Privacy Policy, PayPal Luxembourg will be the data controller of your personal information as of 2 July 2007 and will provide more details about the third parties to whom PayPal Luxembourg will disclose your personal and account information.[/FONT]

[FONT=verdana,helvetica,sans-serif]For more information about the transition to PayPal (Europe) S.à r.l. & Cie, S.C.A., click here.[/FONT]

[FONT=verdana,helvetica,sans-serif]If you do not wish to continue your relationship with PayPal, you may close your account at any time by logging in to your account, clicking Profile, and following the instructions from the "Close Account" link. You should make sure you first withdraw the outstanding PayPal balance to your bank account.[/FONT]

[FONT=verdana,helvetica,sans-serif]Sincerely,[/FONT]

[FONT=verdana,helvetica,sans-serif]PayPal (Europe) Ltd.[/FONT]

 

[shadowninja]

Every time I consider signing up to ebay, I hear another horror story. (Was about to do it today.)

 

[grober]

Zut alors!

Thanks for that info I forgot to mention they were becoming a bank. Here is the info page on the new regulatory body the CSSF http://www.cssf.lu/index.php?&L=1
If you thought the FSA was undecipherable wait till you get a load of these guys! Hows your French? Maybe our "man in Luxemburg" can shed some light on them.

 

[Parrotman]

If you go into Paypal you can remove your bank details.

For some reason or another Paypal prefers to use one's bank account in preference to a credit card. If I'm buying on ebay I always use my credit card option to make payments as this offers far more protection. When selling, I either leave the money in Paypal ( to offset any future purchases ) or then xfer it to my bank account.

Are you sure you have'nt replied inadvertently to a scam email requesting confirmation of your details?

 

[BTB 500]

Yup, work colleague had his eBay account hacked. As a fellow IT guy he couldn't believe this had happened, and gave them a really hard time. However in the end it turned out his wife had responded to a scam email.

I have a separate credit card with a low limit (£500) that I use for online stuff. Easy to set up, and gives me a little extra peace of mind.

 

[garystu1965]

If you go into Paypal you can remove your bank details.

For some reason or another Paypal prefers to use one's bank account in preference to a credit card. If I'm buying on ebay I always use my credit card option to make payments as this offers far more protection. When selling, I either leave the money in Paypal ( to offset any future purchases ) or then xfer it to my bank account.

Are you sure you have'nt replied inadvertently to a scam email requesting confirmation of your details?

I defo haven't responded to a spoof email. I always forward to spoof@paypal.
I'm going to remove my bank details. Cheers.

 

[garystu1965]

Can't get through to paypal. No response to emails. The account is "limited" which means I can't delete the account or delete any links to my banck account. There is now another account in my paypal that I know nothing about !!! I rang my bank and they said they cannot remove any link between my account and paypal. However they said as long as I've emailed paypal to say not to take any money out of account I'll be ok. Any future transactions by paypal out of my bank will be disputed by the bank. The agent told me this paypal nonsense is fairly common.

 

[BlackC55]

They normally take ages on the phone. When they answer they are generally very good.

 

[Spinal]

Thats very worrying - whats more worrying is the combination of paypal moving (hence no FSA), the fact that its VERY common; and eBay's monopolistic move to ban google-checkout (formerly gBuy).

Personally, I'm going to stop accepting paypal on eBay - its become an expensive hassle, and its become more and more targetted by scammers!

Michele

 

[tikw2124]

Had similar problem awhile ago. received email from Paypal as receipt for payment made to an Ebay member. On checking, I had some how purchaesd a mobile phone for £430 (which i hadn't). I immediately contacted Paypal and was advised to change my password asap. They then sent me a form for a fraudulent payment investigatio which i duly completed and sent back. About 10 days later they refunded the payment. It transpired that some one had hijacked my Ebay account, bought a phone and paid for it with my Paypal account, how I don't know as i deffinately do not reply to spam/spoof emails. I even contacted the seller of the phone who was unhappy as he had already posted the phone to an address in the USA and now lost his money. However, i still use Ebay & payPal and have not had any recurrence of problem.

 

[PaulE230]

Ebay is my full time job

I have used paypal and ebay for 4 years (10 transactions a day on average)

I have never had a problem

Paypal and ebay are very safe UNLESS you follow a link via a email claiming to be from ebay or paypal


NEVER EVER follow a link in an email ALWAYS type out www.paypal.co.uk manualy and then add it to your favorites

There are thousands of fake emails claiming to be from paypal and ebay you just have to ignore them and do not click on a link in the emails and then you will have no problems at all

 

[Sp!ke]

Paypal and ebay are very safe UNLESS you follow a link via a email claiming to be from ebay or paypal


NEVER EVER follow a link in an email ALWAYS type out www.paypal.co.uk manualy and then add it to your favorites

Not necessarilly true, there are other variables here. Spyware that changes your Hosts file could still redirect you to a spoofed page even if you manually entered the URL, as could a few other tricks embedded into malware.

How safe is your WIFI? I bet it isnt 100%. Consider moving away from WIFI for any online banking or anything else sensitive like logging into paypal.

Make sure all your passwords are different - is your Paypal password the same as your Ebay password for instance... make sure its not!

Be careful out there folks.

 

[big x]

BBC's working lunch had an item today to say PAYPAL is transferring its centre of operations to LUXEMBURG. Reason given is that VAT is less there, however it means it will no longer regulated by the FSA!!

Paypal cannot access funds in a UK bank accounts without authorization.
I don't see what difference it makes which EU country it's based in.
Given successful transactions in the millions daily Paypal is a remarkably secure system.The problems are usually on the credit card side.

adam

 

[PaulE230]

Not necessarilly true, there are other variables here. Spyware that changes your Hosts file could still redirect you to a spoofed page. As could a few other tricks and hacks.

How safe is your WIFI? I bet it isnt 100%, consider moving away from WIFI fo0r any online banking or anything else sensitive like ogging into paypal.

Make sure all your passwords are different - is your Paypal password the same as your Ebay password for instance... make sure its not!

Be careful out there folks.

we dont use wifi for buisness
obviously we dont use the same passwords
Ive never ever heard of spyware hacking into a ebay account or a paypal account a nasty virus might but again if you update your computer often and dont download rubbish off then internet and run antivirus scans often then these wont get on your computer in the first place

according to paypals security department (off the record) nearly every single fraud is the result of someone following a link from an email

 

[Sp!ke]

we dont use wifi for buisness

Many People do.

obviously we dont use the same passwords

Many do

Ive never ever heard of spyware hacking into a ebay account or a paypal account a nasty virus might but again if you update your computer often and dont download rubbish off then internet and run antivirus scans often then these wont get on your computer in the first place

No, the spyware hacks certain elements of your PC (often) a trojan which can do many things including spoofing URL's.

according to paypals security department (off the record) nearly every single fraud is the result of someone following a link from an email

Well they would say that wouldnt they

 

[PaulE230]

this was off the record from an ex collegue who worked there

yeah those trojans are nasty things thats why we try and be very very careful at all times and so far it seems to have worked we also only link our paypal accounts to a bank account that is seperate from our other accounts so we only keep a bit of money in it when paypal drop money into it then that money is transfered out of it on the same day

 

[BonzoDog]

Thanks for that info I forgot to mention they were becoming a bank. Here is the info page on the new regulatory body the CSSF http://www.cssf.lu/index.php?&L=1
If you thought the FSA was undecipherable wait till you get a load of these guys! Hows your French? Maybe our "man in Luxemburg" can shed some light on them.

Is our man in Luxembourg a bit like our man in Havana? I know the CSSF fairly well. They are the Financial Regulatory Authority. However the terms of my employment forbid me from making any comment on anything with which I am professionally associated.
For translation I would suggest babelfish at Alta Vista.

However we use PayPal quite a bit at home and having already been ripped off on Visa, this is not encouraging news.

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Note all you VAT payers, it is only 15% here in Lux which is why internet companies relocate here. Company tax is also lower plus there are other tax advantages which is why a lot of other companies have their tiny HQ here. Our Finance Minister smiles a lot and is quite approachable, although he is very busy. The PM lives around the corner from us and we often see Mrs J. walking the dog (that's not rude is it?). Nice food, beer is good and the Blues and Jazz Festival is on soon.