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Thread: Initial withdrawal of 1.95$ when you create an account?

  1. #1
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    Default Initial withdrawal of 1.95$ when you create an account?

    I think this is a legal scam guys! ALWAYS withdraw this money! PayPal is just using this as a tactic because they are aware that some people wont bother with withdrawing their funds and it will lead to them taking the money. If a million or two people do this ebay can get to nearly 4 million dollars just by this.

    If they really used this as "verification" why would they let you continue using your account even if you didnt write the code for the return of that money ? Lame tactics...

  2. #2
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    Quote Originally Posted by DomDom View Post
    I think this is a legal scam guys! ALWAYS withdraw this money! PayPal is just using this as a tactic because they are aware that some people wont bother with withdrawing their funds and it will lead to them taking the money. If a million or two people do this ebay can get to nearly 4 million dollars just by this.

    If they really used this as "verification" why would they let you continue using your account even if you didnt write the code for the return of that money ? Lame tactics...
    I never had this?

    When I created an account I had 0.01 deposited into my bank which provided me with a verification code.

    Can you explain what you mean a little more?

  3. #3
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    Quote Originally Posted by rossonomous View Post
    I never had this?

    When I created an account I had 0.01 deposited into my bank which provided me with a verification code.

    Can you explain what you mean a little more?
    This is what really happens. It also happened with my account. $0.01 and they deduct it from the next payment.
    Maybe $1.95 is what they charge in other countries. I have heard of fees that I didn't even knew they charged because someone was using Paypal in Bulgaria or some other eastern European country.
    They charge that much because they have a harder task in countering a lot of scams that originate in those areas and also because the banks charge more for processing.

  4. #4
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    Quote Originally Posted by Delusional View Post
    This is what really happens. It also happened with my account. $0.01 and they deduct it from the next payment.
    Maybe $1.95 is what they charge in other countries. I have heard of fees that I didn't even knew they charged because someone was using Paypal in Bulgaria or some other eastern European country.
    They charge that much because they have a harder task in countering a lot of scams that originate in those areas and also because the banks charge more for processing.
    I believe another partial reason is because it gets them profit. In my country (EU) it deducts 1.95 from your account and you have to write in the verification code to get it back!

  5. #5
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    Quote Originally Posted by DomDom View Post
    I believe another partial reason is because it gets them profit. In my country (EU) it deducts 1.95 from your account and you have to write in the verification code to get it back!
    That's called verification. Yes it may not be the easiest thing for you to do, but it helps for them to verify your address.

  6. #6

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    Im in the US and had 0.01 added to my account for verification. I'm not sure how it works in other countries. I would suggest you going through a merchant account instead of using paypal if you legitimately think they are scamming you. At least through a merchant company you have more protection.

  7. #7
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    Quote Originally Posted by rossonomous View Post
    That's called verification. Yes it may not be the easiest thing for you to do, but it helps for them to verify your address.
    Yeah but why 1.95 when it can be 0.01? And you dont need to verify the account by writing in the code!

  8. #8
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    I remember that Paypal deposited money into my account. Then again, I opened up my account in 2004 though so maybe now they have changed things. That sounds like a huge scam.

  9. #9
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    Quote Originally Posted by DomDom View Post
    I think this is a legal scam guys! ALWAYS withdraw this money! PayPal is just using this as a tactic because they are aware that some people wont bother with withdrawing their funds and it will lead to them taking the money. If a million or two people do this ebay can get to nearly 4 million dollars just by this.

    If they really used this as "verification" why would they let you continue using your account even if you didnt write the code for the return of that money ? Lame tactics...
    I haven't been with PayPal for many years now, but the process used to verify your bank account information is something used by many alternatives to PayPal.

    The amount usually withdrawn for verification is a small amount. The amount is also random. I've seen this before where X payment middleman has withdrawn a small amount from your bank account. You must then verify that given amount as only the account holder would be able to see that minute transaction. I don't know why anything over a single dollar would be used. It is usually just pennies.

  10. #10
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    Yeah this seems pretty fishy. I'm sure they have themselves covered in their Terms of Service and Privacy Policy somewhere. They always do and always will. Professional scammer is professional lol.

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