Paypal allows anyone to sign up with your bank account number (which happens to be on the bottom of every check you send out to people). THey are almost impossible to get on the phone and then when the fraud complaint is made they take 4-5 days to shutdown the account, hence more transactions go on while they check with their departments. It then is said to take 10 days to get your money back (don't know we have rec'd ours yet...it is day 5). By the way, this business is based in India.

paypal owes me a refund and i just cant get my money back it seems. first it was suppose to be credited to my account within 30 days. now that the 30 days has passed they emailed to to give me a trace number to give to my bank. speaking to my bank I am told this trace number is worthless to them because its the number paypal should be using to track the money. its their tracking number not the banks. still no refund just alot of sorrys and b.s. seems like they have more excuses then actions. Ive already called them 10 times at least. by the time i get done i will have spent more money on phone calls, lost interest, and much aggravation. i cant beleive with all the complaints why paypal hasnt been shut down as of yet????????

Shut down your paypal account immediately! The compaany does not have adequate security to protect you from identity theft. All of your banking and credit card informatio will be compromized and you will be a target for identity theft!

I know there are many complaints on here about buyers getting ripped-off by PayPal. My complaint is as a seller. You have absolutely no rights as a seller and they are totally there for the buyer only. I have been an ebay seller for ten years and have used PayPal from day one. I have a 100-percent positive rating.
In a recent transaction, I sold a bicycle that went for $825. Had plenty of pictures, was in excellent condition, selling as is with plain language stating there were no refunds. The winning bidder starts asking questions after the sale--a bad sign in hindsight. I was delayed in getting the bicycle out so paid the shipping charges to make it up to the buyer. Shortly after it's arrival, the buyer starts emailing me saying it's not the color in the pictures (white), that it wasn't what he was looking for, etc., etc.
I tell him that there is no refund offered and before I know it, PayPal has a complaint from the buyer the I "misrepresented" the piece. They rule immediately that I owe him a refund. Since a couple of weeks have gone by, I have already withdrawn $700. They freeze and confiscate my remaining $125, and then tell me I have to put $825 into the account to have privileges returned. Still hasn't been resolved since PayPal doesn't even go by their own rules of procedure regarding appeals, evidence and the like.
I need to find another service, but seller beware...

I have new evidence proving paypal is attempting to extort money, presented by the bank in approximately September 2008. Paypal still however is coming after me for a fictitious debt. I say fictitious because it is a debt I do not owe, proven in court, and rejected by the card carrier of the customer they assisted in frauding me, YET Paypal is consumed with making me pay. I have no debt with them, literally, they self created this debt to extort money from me.

November 2008 received yet another letter from Paypal confirming their attempt to collect from me, October 2008 received a letter from a collection company on their behalf. This started about 11/19/06 when Paypal processed a chargeback to my merchant account. A customer paid our shop (sole propriety) in two installments, approximately 3 months before 11/19/06, so we had paid for product with the funds and paid bills. We did not have the money in any account. After approx 100 emails over months, and fighting with Paypal went nowhere, I sued the customer. Won, presented that to paypal who refused to go after the customer. While putting paypal on the backburner, I went after the bank involved, in or near September 2008 it was revealed that the bank actually denied the customer chargeback’s, totaling $6, 100, yet paypal lied to the bank and told them I didn't want my money. All the while, I have written communications to the contrary. In addition, paypal attempted to withdraw the money from my bank account and took any money I did have in my paypal account, while also eventually freezing my paypal account. Due to the new evidence of September 2008 I had to stop pursuing the bank. Now, on or about October 16, 2008 I received a collection letter from NCO Financial Systems, Inc. the 2ND COLLECTION COMPANY REPRESENTING PAYPAL to send me a letter demanding money, demanding I pay over $12, 000 dollars or there are going to sue me and get a judgment, however a couple weeks later received another letter stating they made an error and I ONLY owe $6000+. I DO NOT OWE THIS MONEY. THEY ARE ATTEMTPING TO EXTORT MONEY FROM ME BY SENDING ME TO COLLECTIONS FOR MONEY I HAVE PROVEN OVER AND OVER AGAIN I DO NOT OWE!! Paypal refused to cooperate with the bank, they refused to acknowledge the court judgments I have against the customer, and as a result of all this the customer filed bankruptcy to avoid having to pay a dime. IF I DONT STOP PAYPAL THEY WILL PUT A LIEN ON MY HOME!!! And who knows what else they will do. They have no right to do this. I need paypal stopped and a government agency to see what they are doing to me and others. This is fraud, extortion, and they cost me thousands of dollars in interrupted business, stress and now again, more collections. It is absurd! Is there anyone out there who used Paypal's merchant account for other than Ebay and online purposes to collect funds? Am I the only one? Why is this legal? Why is there no Attorney who sees anything wrong with this or that can connect it to any laws? EFTA? ANYTHING? I am blown away. Maybe the moderator of this site can forward info to me if there is anyone in the same situation or who wants to sue Paypal? THIS IS ABSURD. I have lost over $10, 000 in one month alone, not to mention the rest I have lost and endured.