Quote:
Originally Posted by BearMountainBooks
Be aware that unless you carry a credit card on your paypal account, it has no protection. Paypal told me on the phone during several calls that they rely on the credit card insurance for protection of accounts. This includes if you have your paypal linked to your bank account (which I will no longer do since paypal does not insure against theft/misuse/fraud). Things may have changed since my numerous calls to them about 3 years ago. They advised me to up my security by purchasing one of those key lob thingies that has to be on hand to make a transaction.
So far as I know, they do not offer fraud protection of any kind and rely on the credit card on file to provide it should someone begin using your paypal account and drain it. Again, this may have changed, but it would behoove you to check with your bank if it is linked and with your credit card and with paypal to understand any protection that may or may not be offered.
|
In the EU, PayPal operate as a bank and provide the level of protection for your money which is mandated by EU law, which is quite a large amount. You're not liable for fraudulent activity on your bank account under EU law.