Whats better to use as a payment method bank account or a credit card or both?
Paypal- Bank Account or Credit Card
- Thread starter slantman
- Start date
A Credit card. It offers protection from paypal. 
Id agree with that...
Agreed. CC is the safer way, imho.
Is there a way to use plastic without passing PP fees to the seller? I always use a credit card unless I'm paying someone who I know.
To a bank account...CC can be cloned, PP can frozen your account by mistake.At your bank you can talk to your personal brooker.
In the event of a problem, Credit card. You have more regulatory protection (not just from Paypal) when using a credit card. With a checking account you are covered by Regulation E. Reg E gives your financial institution up to 45 days to complete their "investigation" of your claim.
Of course... if there is no problem it really doesn't matter.
Of course... if there is no problem it really doesn't matter.
A few years ago my wife and I discussed this since she's fairly up there with her bank (as an employee I mean) and knows the ins and outs.
She said never NEVER give your account info to anyone (PP included). Not that they would do anything wrong, but those sites have Security that is never considered bullet proof, nor will it ever be (and that's no offence to any company).
Same goes for a CC with a high limit.
We got a separate CC with a low limit ($500 I think) to use for PP and other on-line purchases. If it's more than that, we'll deal with the purchase some other way.
She said never NEVER give your account info to anyone (PP included). Not that they would do anything wrong, but those sites have Security that is never considered bullet proof, nor will it ever be (and that's no offence to any company).
Same goes for a CC with a high limit.
We got a separate CC with a low limit ($500 I think) to use for PP and other on-line purchases. If it's more than that, we'll deal with the purchase some other way.
That's something I've been wanting to do. I also want to get a dedicated checking account for use w/ PP only.
That's what I have, a slush fund checking account with a token balance. I just move money in & out w/on-line banking.
I believe vendors prefer that their clients have a bank account behind their paypal transactions. Something like 3% juice to the CC from a vendor to receive CC payments otherwise.
Especially for international transactions...
Especially for international transactions...
I kind of feel bad about my 2% cash back card.
Seriously though, no matter how much you like your bank, you only get the protection in the fine print, with a credit card, you get protection based on federal law. Especially with e-bay I want a way beyond just paypal to dispute a charge.
Credit Card. Never a bank account.
Some sellers want only bank account backed PP, and if they do I buy elsewhere.
Credit Cards afford you a level of legal protection against fraud. If your bank account is tapped out by Pay Pal, there is a slim chance you could get your money back, but in the meantime (while pay pal diddles around for a month or two) you're out the use of your funds.
Do a search on this forum for pay pal problems and see how many are bank account related versus credit card related.
Some sellers want only bank account backed PP, and if they do I buy elsewhere.
Credit Cards afford you a level of legal protection against fraud. If your bank account is tapped out by Pay Pal, there is a slim chance you could get your money back, but in the meantime (while pay pal diddles around for a month or two) you're out the use of your funds.
Do a search on this forum for pay pal problems and see how many are bank account related versus credit card related.
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- Thread starter
- #15
OK I made up my mind will use a credit card instead of a checking/Debit card. Too many problems with a checking account particularly if your balance is on the low end. Could be dicey. With a credit card the transaction is approved or declined.
I want to thank everybody who gave their opinions
I want to thank everybody who gave their opinions
Credit card. You get points that way.
Ben
Ben
Both. I use the credit card to pay and the bank account to withdraw money from PayPal.
Which is better?
That's kind of a trick question - they both have their advantages and disadvantages. It's a matter of using both according to your needs.
If at all possible, I avoid PayPal for large purchases; the user fee can be exorbitant. Why not use both - at your discretion, and to your personal advantage?
That's kind of a trick question - they both have their advantages and disadvantages. It's a matter of using both according to your needs.
If at all possible, I avoid PayPal for large purchases; the user fee can be exorbitant. Why not use both - at your discretion, and to your personal advantage?
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