PayPal Verification and Banks

Discussion in 'After Hours Lounge (Off Topic)' started by SethH, May 12, 2004.

  1. SethH

    SethH Cinematographer

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    Hi all,

    I have all my checking and savings accounts at NetBank (www.netbank.com). I am perfectly happy with them, but unfortunately PayPal refuses to verify me based on an account with NetBank. I have finally run up against my spending limit before becoming verified. I am thinking about opening an Orange account with ING. Does anyone know if PayPal will verify one of these accounts? Will PayPal verify ANY online accounts? Any info would be appreciated.
     
  2. nolesrule

    nolesrule Producer

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    Yeah, I've never been able to figure out the Netbank thing, but I think it is Netbank's fault and not Paypal's. I use a B&M bank with my Paypal account, so unfortunately, I can't answer your question about online banks.
     
  3. SethH

    SethH Cinematographer

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    Well . . . paypal claims it's NetBank's fault and NetBank naturally claims it's PayPal's fault. A Google search shows that apparently the reason behind it is that PayPal is trying to do bankwire transactions. Unfortunately, PayPal is NOT a bank. NetBank requires that withdrawal bankwires be explicitly approved by the customer. PayPal wants permission to withdraw from the account without the customer's explicit permission. Therefore NetBank refuses access. While I certainly would like to get verified, I think NetBank has a valid stance.

    Also, just FYI, you all might want to check out www.paypalsucks.com. According to this site when you agree to the terms with PayPal you forfeit all of your creditcard protection rights and if something happens and you lose your money you essentially have no course of action. PayPal actually lost a case in New York for sever hundred thousand dollars regarding issues with their terms. I'm not saying to ditch PayPal, but it's information that should probably be known before getting in too deep.

    Even so, if anyone has experience with an online bank (particularly ING) and PayPal, please let me know. Thanks!
     

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