PayPal is vulnerable...

[Richard Crowe]

Out Wells Fargo representative warned us not to use our major bank account for American Maltese Rescue to receive donations via Paypal.  She stated that PayPal acounts can be hacked and if the PayPal is deposited into the account wherein you keep your major deposits, the account could be vulnerable to hacking.

 

We are going to establish a separate account into which we will deposit our PayPal donations.  Then we will transfer the money from that account into the main American Maltese Rescue bank account.

 

We are going to aditionally establish a separate checking accound to which we will link our PayPal payments. This will provide additional security.

[Maryann,Roo and Tigger]

Thanks for the update on paypal

[Colleen, Jake & Baxter]

I appreciate you letting us know about this.  I don't use it much but thought it was pretty safe. 

[Kimberly Risley]

To me most electric banking systems can be hack not just paypal. We never use PayPal as our main account anyways. All our Paypal accounts we have set up are linked to a main checking account anyways. We use Paypal in a few businesses. It's an easy way to get money in. From what I understand to VERIFY the account you have to have it link to a bank account anyways.

From my experience PayPal is very good about stopping fraud. A few times they put our account on "hold" for stuff we bought. LOL It was for buying gas out of our "area". If they notice any out of the normal on your account I'm sure they would put the account on hold. But everyone should be checking their accounts on a routine basis anyways..

[Lynn D.]

What I do is have a secondary banking account that I transfer money into when I am going to make a purchase with PayPayl. My main account isn't known by Paypal at all. I usually keep no more than $10 balance in the paypal linked account.

[Jane, Rooney & Stuart]

My Paypal account was hacked years ago - didn't loose anything but we closed it and now I NEVER use Paypal.

[Lynda Kamrath]

PayPal is good for some things, but you always have to be careful.  With all the shopping on line these days, it does make some things easier, such as when my Chilean friend who is living in Switzerland wanted some things sent to her from the US because she was shopping on line.  They were sent to me and I sent to her in Switzerland and she paid me from her Chilean account (via Pay Pal of course).  Too much for me to figure out.  Keeping it all straight is a difficult task to be sure.

[Joan C Hatfield]

I agree with this completely - I had my pay pal account hacked just recently which was attached to my checking account.  Luckily I caught it before too many charges were imposed