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  #1  
Old 04-11-2008
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Default Online Bank Verficiation, Something New?

Just opened a new pp account & during process, as we all know, we are asked for bank verification. Have never seen this one before from pp...gave me 2 options for bank verification: 1 - verify within minutes right now online...all I had to do was give me my username & password for online bank access (NOT) or 2 - verify the old-fashioned way of waiting 3 business days for 2 small deposits.

Anyone else experience this new way of verifying? Hope I did the right thing here...did not choose option a. but going the ole' fashion route of the 2 small deposits.
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Old 04-11-2008
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it happened to me months ago with WuMu bank, you only need to log in to your bank to be verified. i think that they have some sort of partnership between them.
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Old 04-11-2008
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So, should I have let PP verify bank info. online? Safe or not?
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Errmm! short but succinct answer to the question.. "should i give paypal my online bank user name and password... "Not a F*uckin Chance"
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Old 04-11-2008
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Didn't think so...glad I chose option b - 2 small deposits and I will wait the 3 days for verification. There is no way I want pp to have my username & password for bank. NOT!!
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Surely giving your bank account online access to anyone (even paypal ) is asking for trouble ?

I'm sure its against most, if not all, banks policies for you to give out this information, I reckon paypal could find themselves in big trouble if it got out that they were asking for these kinds of details

As an addition to the above, I'd say that your bank would remove any kind of fraud cover you "may" or "may not" have with them if they found out you'd given out your login details to anyone for your online banking
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Old 04-12-2008
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Wow, as said above, I can't believe paypal are asking for this. Even with a bank agreement, it's pushing it a little.

All they need to do is login to your paypal account, take a look at your name and you're meat.

I'l certainly stick with the old fashioned method.
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Old 04-12-2008
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what a joke, how can paypal really ask for this. anyone who does that is out of there mind.
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Old 04-12-2008
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Next thing they will ask is the keys to your house to withdraw money and a f*ck with your wife to check your balance.

:D
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Old 04-12-2008
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All of you guys are wrong.


When you are at auctiva and they ask you to log in into eBay to generate a token, that does not mean you are giving them your user name and password.


Same with payPal allowing you to verify bank account online. I've done it before using WaMu, and no problems. It's easy and fast, they are not reading your information such as SS or name and address, just verifying that you are the owner of that account.


It's as simple as that. Either you have online access to your bank and can verify it, or you do not have online access to your bank and want them to deposit some cash to verify it.
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[QUOTE=extension;35482]All of you guys are wrong.


When you are at auctiva and they ask you to log in into eBay to generate a token, that does not mean you are giving them your user name and password.


Same with payPal allowing you to verify bank account online. I've done it before using WaMu, and no problems. It's easy and fast, they are not reading your information such as SS or name and address, just verifying that you are the owner of that account.


An opinion, is neither "right nor wrong" by the nature of it being an "opinion", if your happy having your "Username and Password" to your bank account floating round cyberspace, that in my "opinion" is nothing short of absurd, and even more absurd, trusting Paypal with that information!
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Old 04-12-2008
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Quote:
Originally Posted by scouse12345 View Post
if your happy having your "Username and Password" to your bank account floating round cyberspace, that in my "opinion" is nothing short of absurd, and even more absurd, trusting Paypal with that information!


You are not just opinionating, you are pushing your agenda that is based on false opinion, and you are using opinion freedom, falsly at that, to push your agenda and opinion even further.


Just like someone said previously, it is just talk that paypal can see your user name and other information when online verification is used.

In fact, hard data shows that there is no difference between using online verification and the other kind. Information like name and ss are not being shared.
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1: (Pushing my agenda) and what agenda would that be?> please explain..
2: (SS number being available) and were did i suggest that?> again please explain
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Old 04-12-2008
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Default Online Bank Verification

I've been getting the same options when setting up new accounts as well, I choose to do it the old fashion way as well. I don't feel I should enter my online username and password if I can avoid it.
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Old 04-13-2008
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I've done it before; Paypal verified my banking without an issue. Apparently they don't 'store' this information, but who knows. But it worked for me.
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Quote:
Originally Posted by aspkin View Post
but who knows.
Exactly. I don't trust paypal with my money, so I'm not going to trust them with my banking details.
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