I don't know that a PayPal account can be opened with the intent to use only
a bank account. When wishing to pay with a registered bank account via
PayPal, they put a hold on the user's credit card account for the amount
total to secure the bank withdrawal. That seems almost like double-jeopardy
to me because they in effect put a hold on two separate accounts for the
amount of money to be transmitted to the payee.
PayPal works well for merchants who sell perhaps one or only a few items.
They can set up an automated billing account so that when a prospective
customer clicks on the merchant's link to PayPal, all of the data about the
item to be purchased is pre-loaded into the PayPal website. The registered
PayPal customer merely clicks on the quantity of items they wish to
purchase, everything is totalled, and the transaction data and customer's
address is registered automatically.
Bill
----- Original Message -----
From: Jay Daniels <[EMAIL PROTECTED]>
> Joe, just wondering if you use paypal or have ever used the bank account
features which withdraw or deposit to your account?
>
> One concern is if they can withdraw from your account without
authorization. The help page states:
> "Will PayPal have access to withdraw funds from my Bank Account without my
permission? No. We will only withdraw or add funds with your expressed
permission."
[snip]
> I have been searching for a reliable secure way to pay on-line without
using a credit card and was wondering about PayPay. Their site doesn't seem
to have much information and seems to be geared toward getting you to sign
up ASAP!
>
> However, from a retailers point of view this does look like a good
alternative to a merchants account.
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