YES

yes, they can and will. combine that with them being under the control of the crooks from flea-bay now and i'd say anyone with a paypal account linked to a bank account they keep more than $5 in is crazy.

Why would a $999-gazillion corporation do that to you?


miizzles said:

<< How can they do that without your authorization???
What about charging your credit card ... will they go there?? And if they did couldn't you just dispute it with your credit card company (or bank) as an unauthorized charge??
? >>


They have the guts to run a bank without a license; they'd do anything they want even without your authorization.

Of course you can dispute it if they suck $$$ out of your cc; it's when they suck from a bank account that it becomes a problem.

Alcibiades said:

<< Can BBallFan2003 or mikeb48 respond to this slander ? >>

I didn't hear anything, did you? It would be libel, not slander, if it were anything at all.

Most of the time Paypal will just give you a negative paypal balance. Any money in will then be taken to fill the negative balance. You also would not be able to send money without filling the negative balance first.

you DID AUTHORIZE THEM to take all your money when you signed up for Paypal...if you signed up very early before Paypal revised their user agreements, you have accepted the new terms by your continued use of their service

Well you don't have to cancel the account, just keep $100 or whatever the minumum requirement is and take off stuff like overdraft protection etc.

On a different note, don't forget that Paypal can put you on collections if they are unable to STEAL your money...

Alcibiades said:

<< Checking accounts can still go negative, even w/o overdraft protection. Banks do this as a courtesy for their customers. >>

Well banks SAY its a "courtesy" to their customers, but what it really means is that its a great opportunity to earn FEES.

EricGo said:

<< I have a checking and savings account at my local credit union. It is used to hold my allowance, and the occasional eBay purchase. The savings account can _only_ be accessed by me, so I transfer money from the savings to the checking account as needed. Since it is the same bank, electronic transfers occur immediately.

If I sell on Ebay, I empty the checking account first. >>

Ah young jedi, the flaw in that logic shall be your downfall, yess..mmmmm


You may move all funds out of your checking and into the savings account (that PAPAL doesnt have access to) but what do you think happens when paypal overdraws your checking accoount?? Thats right, your credit union will use your SAVINGS ACCOUNT funds to make up the difference! Its called right of setoff.

You need to keep your deposit account at a separate instituion (like ING Direct's no minimum savings account) to keep it safe from paypals evil hands....

'clarifying" something with a 20 year old teller means nothing, the CU will take whatever action they are entitled to take. You need to read your deposit agreement with the credit union and see what it specifies.