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PayPal is Dangerous posted by bichen

links::informative | Wednesday, Jun 9th 2004, 04:37:41 PM


Do you use Paypal? If you don't know what PayPal is, basically it's an online money system where you can send money instantly to people with paypal accounts. It's a great concept because it makes paying for things online a cinch and pretty much instantaneous. A lot of things you can buy online through Pay Pal. So what's the issue? There seems to be A LOT of disgruntled people. A lot of them have their stories at NoPayPal.com (also paypalsucks.com which is the same site).

The major complaint is that PayPal can shut your account down and take the money out of it essentially at their own whim. While I never had this happen to me, it sounds like alot of people have experienced this and lost money (some even as high as $5,000). The people there have stories of being ripped off by another user and then having pay pal come in and seize their funds (even though they got ripped off) without warning.

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