[PLUG-TALK] Paypal verification process, is it safe?

Jeme A Brelin jeme at brelin.net
Tue Dec 16 09:14:36 UTC 2003


On Mon, 15 Dec 2003, Michael C. Robinson wrote:
> They require a check routing number and an account number.  Is this
> enough for them to do anything other than deposit money?

Not in the United States... not unless you give them more privilege.

> Why does paypal want people to verify?  Can they take any money without
> authorization?  If I'm robbed assuming they can do this, what do I need
> to know to get my money back?

All electronic transactions with banks are carefully tracked.  You could
only conceivably have a problem if they transfer money to an overseas
account with falsified authorization.

And unless you have hundreds of thousands of dollars, you're sure to be
OK.

> Is paypal under any banking laws whatsoever?

Paypal.com is a financial institution that is under the same federal
regulations as all others.

You will find details on this in their service agreement.  Did you bother
to read that?

> Is there a good alternative to paypal and money orders for online
> transactions, or is paypal the best choice?

I think paypal is the best choice because it's the most common one and
universality is the goal here.

I'm not aware of a non-profit or member-owned alternative.

J.
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