TopperFraggle said:
Why is paypal dangerous? I mean, I guess any form of payment where you submit personal info is more dangerous than sending hard currency, but is it any worse than swiping your debit card at the gas station where any Joe Schmo can pick up your discarded atm reciept? Paypal seems to be very safe as this sort of thing goes.
Paypal can be risky for the seller if the buyer has a problem and then doesn't pay their credit card company for the paypal purchase. This is called "disputing the charge." If that happens then the credit card company usually does a "chargeback" on the sale and Paypal will then usually hold the seller's funds to pay for it. Depending on the situation it can get very messy.
As far as being a buyer goes, you are best off to NOT give paypal your checking account info (they want this for you to become a "verified member"). If they can get to your checking account and a sale goes bad they'll take the money right out of there. Note that there is a difference between being a verified paypal
user and having a verified paypal
address. I think it's a good idea to set up the verified address since some sellers insist on it (see the paypal site for details) but you do
not need to become a verified
member.
Like anything else, when it works it works well. When it all goes to pot then it's awful. As an eBay buyer I usually like using the paypal system. As an eBay seller, I'll only use it for lower priced items. On bigger items I'll only take a money order or sometimes a check (with a long waiting period). There are lots of horror stories on paypal, do a google search and you'll see them. So far I've had pretty good luck with it but I'm careful about using paypal. The "supposedly kind of safe" description from one of the earlier posts actually describes it pretty well!
Stan