I don't like the idea of leaving an open DD for Paypal when my account is verified. Can you in the UK: 1) Cancel it after verification without infringing any conditions, and 2) set your account to use only your credit card after you have verified? Or does it default to your bank account and have to be reset for each transaction?
2006-09-17 23:52:46 · 8 answers · asked by Drew - Axeman 3 in Business & Finance ➔ Other - Business & Finance
I don't want to remove the bank account, just the direct debit mandate.
2006-09-17 23:59:51 · update #1
All banks who do direct debit offer the direct debit guarantee, so if you tell your bank that you wish to cancel any direct debits through paypal, they will do it and if there is any payments made, the bank will instantly refund you. If they ask you if paypal know, tell them you have already informed them and just want to be extra sure. Then paypal won't know and you should be able to keep your verified status. When they take money from the bank, it works just the same as using a switch card and is only when you make a purchase, so you know. The only thing apart from this that I would say is to make your password very very secure, I have a mix of names and dates all in upper and lower case, as people do hack into some paypal accounts and clear your bank out. My friend had it happen to him, but he caught it as soon as it started (he was also selling on ebay, but had his first name as his password, duhhh!!)
I used to own a shop on ebay and had paypal, the only direct debit thing was one that they put in to verify i was the owner of the bank account, I had to ring and tell them what the amount was. I've never had any direct debits go out from paypal other than that, so you probably don't need to worry!
Hope this helps!
2006-09-18 00:07:14 · answer #1 · answered by keiraebony 3 · 0⤊ 0⤋
Paypal rescinds the "verified" status if you remove the bank account, and your account status returns to unconfirmed. The Paypal account automatically defaults to the bank account after each transaction, unless there is no bank account listed. I do not know of any way to change this. Having a bank account listed with Paypal is required if merchants will only ship to confirmed addresses, which most don't. I have gotten numerous phishing e-mails (purportedly from Paypal) requesting me to "verify" my billing information, but as long as you don't input any info into them you will never have a problem. They are easy to spot. Paypal is safe - they do not release your bank or credit card account numbers to anyone.
2006-09-17 23:57:24 · answer #2 · answered by Jeannie 7 · 1⤊ 0⤋
don't do anything on direct debit! Gives the bank too much power! Once they've got yer cash, even if there's a mistake, it's time consuming and messy to get it back.
Same goes for gas and electric bills, they're a nightmare under the dd system!
2006-09-18 00:01:20 · answer #3 · answered by Michael E 4 · 0⤊ 0⤋
I seem to remember that you can choose the credit card as your default payment method, in therory they will not know that your DD has been cancelled if you do it through your bank
2006-09-18 00:02:16 · answer #4 · answered by Anonymous · 0⤊ 0⤋
yes by following the right channel
2006-09-20 20:15:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
yes inform the right people
2006-09-17 23:56:16 · answer #6 · answered by P M 1 · 0⤊ 0⤋
I dont think you can cancel your DD.
2006-09-18 00:01:08 · answer #7 · answered by dm_overton 3 · 0⤊ 0⤋
it doesnt take cash fro your account! so dont worry bout it!x
2006-09-18 00:00:31 · answer #8 · answered by Julie Mo Bear 2 · 0⤊ 0⤋