Let's talk paypal.

Daniel Macina

Daniel Macina

Well-Known Member
What are y'alls thoughts on paypal? I know that's pretty much how everyone sends and receives payment nowadays but I don't love the idea of connecting my bank account to PayPal. But it looks like that's the only way to send and receive payment if I'm not mistaken. I know I'm in a have to do it sooner or later but it makes me nervous In today's dangerous cyber world.
 
You can use Paypal with just a credit card, you don't have to use your bank account. There used to be a limit on how much you could send with a credit card, before having to switch to using a bank account, but that got lifted a few years ago. I use Paypal regularly and have never linked it to a bank account.
 
Merle said:
You can use Paypal with just a credit card, you don't have to use your bank account. There used to be a limit on how much you could send with a credit card, before having to switch to using a bank account, but that got lifted a few years ago. I use Paypal regularly and have never linked it to a bank account.
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I just have a debit card (don't do credit cards.) would it work the same way.
 
Another thought. You can always open another checking account and use a debit card for that account with PayPal so it's not tied to your main account
 
OK another stupid question. I have looked but I am having trouble finding the kind of information I'm looking for on their website. Could I just send money to my PayPal account without it been linked to my PayPal account. So say I wanted to send $200 to my PayPal account could I do it that way to say pay for some handle material Without it being permanently linked to either of my card or my banking account?
 
Obviously I would only have the 200 to spend with PayPal until I moved more over but……

Don't know if this is making sense or not
 
How can I add cash to my PayPal account?
Log into your PayPal account, select Add Money** and click PayPal CASH® Add money at a Store which redirects to https://www.paypal.com/us/webapps/mpp/ppcash. Print or get the barcode on your smartphone and bring it to the register (along with your cash). A $3.95 service fee applies.

I wouldn't worry about having a debit card linked to PayPal from a separate checking account. Makes life a whole lot easier. :)
 
Daniel, I always have reservations with linking my accounts to anything so here is what I did with PayPal. I opened another checking account with my local bank, no minimum balance or anything like that. I use this account for knife stuff only. I linked it to PayPal and do all my online shopping and customers pay my PayPal which go to it with hope that it minimizes my risk of being hacked and if they take all the money from that account it doesn't hurt my primary account my "real job" money is in.
Just a thought.
 
Justin Presson said:
Daniel, I always have reservations with linking my accounts to anything so here is what I did with PayPal. I opened another checking account with my local bank, no minimum balance or anything like that. I use this account for knife stuff only. I linked it to PayPal and do all my online shopping and customers pay my PayPal which go to it with hope that it minimizes my risk of being hacked and if they take all the money from that account it doesn't hurt my primary account my "real job" money is in.
Just a thought.
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Have been thinking about it all day and I think that is what I'm going to do as well. I'm like you I don't like anything attached to my bank account.
 
Get a credit card just for use with your knife making. You can always set the credit limit.
I was advised not to use s debit card by a banker friend. I was told the don’t have the same protection as a credit card. That was a few years back and things may have changed.
 
opaul said:
Get a credit card just for use with your knife making. You can always set the credit limit.
I was advised not to use s debit card by a banker friend. I was told the don’t have the same protection as a credit card. That was a few years back and things may have changed.
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Most places you can actually run a debit card as a credit card and it will give you the same protections as a credit card. I follow the Dave Ramsey plan so I don't do credit cards at all. If absolute necessity of rose I suppose I would do it.
 
10+ years with paypal sending and receiving, never had a problem with it. Like other's suggested, a separate checking acct.
 
I've never had problems sending money paypal, but I don't use it to receive...yet. I probably will in a couple years.
It's linked to a credit card, I also was told not to use a debit card by several financial people because it's not protected the same way a credit card is. my credit card was hit twice this year, once at a gas station skimmer. both times the credit card company contacted me to ask about those purchases...which they denied both times. when I asked them how they figure out there fraudulent they told me it's all in some sort of computerized algorithim. .....OK, as long as it didn't cost me.
with all the thieving going on in this world there's no way I'm carrying a card in my pocked associated with my bank account.
 
luciusx5 said:
Another thought. You can always open another checking account and use a debit card for that account with PayPal so it's not tied to your main account
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This is exactly what we did. My leather work business and now my forging business is done primarily online. The vast majority of payments come through paypal. We opened a separate checking account with our bank and tied it to the paypal account. Now the one plus to paypal, that we have found, is that you can get a debit card issued on your paypal account. You can go and buy anything, just like any other debit card directly from the paypal balance. it has become one of the primary ways that we spend money. We never let our balance get high on paypal before transferring to the checking. Then we can transfer it to a protected account with our bank.
 
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