Safety Of Bank Accounts And Paypal?

[MRaina]

On the Paypal site, you can register an account with a Thai bank account.

However, all that is needed is to enter the name, and 10-digit bank account number, and the Paypal account is linked to the bank account. No other verification is necessary.

How can this be safe? People exchange bank account numbers all the time here for transactions and transfers. How can it be safe to share this, when it only takes one step to link it to a Paypal account or similar online account? Is it safe to do this?

[stingray]

On the Paypal site, you can register an account with a Thai bank account.

However, all that is needed is to enter the name, and 10-digit bank account number, and the Paypal account is linked to the bank account. No other verification is necessary.

How can this be safe? People exchange bank account numbers all the time here for transactions and transfers. How can it be safe to share this, when it only takes one step to link it to a Paypal account or similar online account? Is it safe to do this?

Use paypal for years in combination with my US bank account. Never had any problem. But you will get frequently emails from some scammers who say that they are paypal, but they aren't and they ask you for update your informations. So beware of this.

[sinbin]

On the Paypal site, you can register an account with a Thai bank account.

However, all that is needed is to enter the name, and 10-digit bank account number, and the Paypal account is linked to the bank account. No other verification is necessary.

How can this be safe? People exchange bank account numbers all the time here for transactions and transfers. How can it be safe to share this, when it only takes one step to link it to a Paypal account or similar online account? Is it safe to do this?

Use paypal for years in combination with my US bank account. Never had any problem. But you will get frequently emails from some scammers who say that they are paypal, but they aren't and they ask you for update your informations. So beware of this.

I've used 'Paypal' for years and cannot fault them, or their methods. I'd recommend them.

[bkkjames]

On the Paypal site, you can register an account with a Thai bank account.

However, all that is needed is to enter the name, and 10-digit bank account number, and the Paypal account is linked to the bank account. No other verification is necessary.

How can this be safe? People exchange bank account numbers all the time here for transactions and transfers. How can it be safe to share this, when it only takes one step to link it to a Paypal account or similar online account? Is it safe to do this?

I think you will find that your account / credit card is submitted once to PayPal at time of registration. From there on out only your PayPal ID number is used to make transactions. You do not have to keep entering account / card numbers for subsequent transactions.

I may not be 100% correct but I believe its along those lines.

[britmaveric]

Normally have a bank account just for use with paypal. No association with my main account. I transfer dosh in as needed.

[webfact]

Since years I've never faced any problems with Paypal

[MRaina]

Right, so, what's to prevent others from using someone's BANK ACCOUNT for use with Paypal? Paypal should have a verification step, as it does with credit and debit cards. Why would they link the account right away without any verification?

P.S. - 'I've done something for years without any apparent ill effect' is not a valid answer. This is the anecdotal fallacy. It is more effective to answer in absolutes than relatives, both for the individual askers, and the good of the whole. That way people base their decisions on principles, rather than what others do, which may or may not be valid logic and healthy for the individual or whole. Just FYI for forum people.

[davejonesbkk]

I think what you are talking about is just setting up a very limited account which doesnt allow you to do much at all, if you want to start receiving payments and withdrawing them to a bank account you need to pay a small charge of about $2 usd using your debit or credit card and then on the next bank statement there is a code next to the $2 withdrawal which you need to input on the site to activate your account fully.

Paypal is VERY safe. Be careful, if you input your password wrong more than 3 times you will be locked out and if they suspect anything suspicious they will freeze your account.

[MRaina]

So Paypal is safe, and they will not withdraw from a bank account without authorization?

Though they connected to my bank account without the need for authorization. Have not withdrawn from it yet, but want to guarantee that it is a secure connection.