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Thread: different funding source

  1. #21

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    I was always wondering about that. I use my credit cards and never really thought about the fact they could use my bank account instead of the card. Interesting information and I will definitely have to keep an eye on this now!

  2. #22
    Join Date
    Jan 2014
    Posts
    309

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    How awful. You guys should coordinate with your local banks and explain to them what paypal is doing or if they take the side of paypal, you should sue all of them and maybe get some money from suing them. Hire a really good lawyer preferably a relative if you have one and draft the best complaint against these awful companies who steal from their customers.

  3. #23
    Join Date
    Feb 2014
    Posts
    163

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    Quote Originally Posted by old paypal employee View Post
    paypal will not really inform the customers that the system will use a different funding source like their bank account. most of the customers would like to use their credit card instead. banks will now charge overdraft charges and paypal is taking a credit for that from banks..money strategy..they're working not for the interest of people, but for themselves.
    I'm not happy about this, not one bit, however it's the same with all the banks, they don't care about your money they just want it to lease out and make more from the interest and so on, they are a glorified bank with less rules because they aren't classically regarded as a bank.

  4. #24
    Join Date
    Jan 2014
    Posts
    347

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    I don't know if any of you made a Paypal payment recently but they do state where they are getting the money from.
    You can even change it when doing a payment. I did it yesterday.

  5. #25

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    Paypal has always been working for the interest of themselves, this isn't really new. I've always wondered where the money comes from, and thanks for sharing this. I really need to stop using Paypal for transactions.

  6. #26

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    Isn't that fraud if they do not tell you that? That is so messed up that they would do that. I am going to unlink my bank account right now.

  7. #27
    Join Date
    Feb 2014
    Posts
    163

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    Quote Originally Posted by old paypal employee View Post
    paypal will not really inform the customers that the system will use a different funding source like their bank account. most of the customers would like to use their credit card instead. banks will now charge overdraft charges and paypal is taking a credit for that from banks..money strategy..they're working not for the interest of people, but for themselves.
    Yup you got it in one, then again it's a good thing they don't advertise that they are there to help people.......oh wait nevermind they do, to be honest with you the worst thing to happen to mankind is the creation of Paypal, it is irritating as hell but we all have to put up with them.

  8. #28
    Join Date
    Jan 2014
    Location
    Winchester, CA
    Posts
    233

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    I always have an option of what source I would like to use for back up funding, so I'm not sure what you are talking about. Every time I check out, it gives me the option to change the back up funding. For monthly debits I can control that directly from the Paypal website.

  9. #29

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    This makes sense. Avoiding the interchange fee of processing card transactions is a big motivator for businesses. This is why a lot of small companies require a minimum purchase. PayPal must want to see how many transactions they can avoid without getting caught.

  10. #30

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    Quote Originally Posted by NeroFerk View Post
    Isn't that fraud if they do not tell you that? That is so messed up that they would do that. I am going to unlink my bank account right now.
    Was wondering the same thing.

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