Newest Review: ... or receive a large sum of money then its no good. I really trusted them and have never had any trusting issues so I would recommend them ... more
Member Name: jmaria01
Advantages: Safe payments, free, easy enough to set-up
Disadvantages: Annoying when they lock you out of your own account!
I have had an account with PayPal for a number of years but have only really used it recently to start paying for things on eBay and accepting survey payments from the sites I'm on. I can actually tell you, first hand, that their security is 100% effective - it nearly cost me my own account!
There are 3 types of accounts. I myself have only ever used the free one, for obvious reasons, but there are two other accounts you can use that you possibly have to pay for. If you're selling then you'd probably need one of the other accounts, but it is best to have a look at them all before you decide.
I first joined up when I was a bit younger, just buying the odd thing off eBay and having to pay via PayPal, not really by choice but it was a new thing to sign up for and sign up to anything! I really don't remember how that initial process went, and they've changed everything since then anyway, so I'll skip forward 4 or 5 years to my experience a few months ago.
I decided to start up my original PayPal because I joined a couple survey sites and they paid out via that. The minimum payments were going to take a while from these first survey sites, and I knew I'd be going to eBay soon enough, but I had plenty of time to sort things out.
Or so I thought.
In September I was informed that my account was locked because 'someone' (I later found out 'I') had tried to access it with all the wrong details. Odd, because I didn't get told about this via email or anything else. So I investigated, and it turned out it was actually me who'd locked myself out - the card I had registered to the account was so old, so out of date and so totally expired, that I hadn't a clue what the numbers were in order to verify it was me logging in! My account was useless! After a LOT of digging at my mum's house, I managed to find my 6 year old bank card - probably one of the first bank cards I ever had, and I still had it! THIS was the account registered with eBay, and was the only way I could get in - they offered no alternative whatsoever, not even the option to email them or ring them up to verify myself, I had to find this card that anyone else would have thrown away years ago!
So, very very luckily, I found my old card. After that it was easy enough; fill in my details, make sure everything matched, change my account numbers!! The verification process took longer than expected - it's meant to take 2 to 3 days, but as I sorted my account on a Friday and Halifax don't like to do anything with banks on weekends, or Bank Holidays, it actually took 7 days - but pretty soon I had all limitations lifted and I could PayPal again.
Since then I've had no problems; payments have been verified via email, appeared in my PayPal within 24 hours, if not 2, and withdrawing money into my bank account couldn't be easier. I also like the £6 minimum withdrawal; it means I know I have to do a lot of work to gain the money into my account! It also seems fairer than some letting you withdraw a minimum of £1, and allows you to collect money in your PayPal for things like eBay etc, or just collect it for a big payout - it doesn't go anywhere.
I've been using it regularly for my survey sites for a couple months now, and the set-up was the only problem I had. Of course, I only have some experience with the one that allows you to pay for goods and withdraw any money deposited; there are other accounts you can get via PayPal, some with charges, and some with more benefits than this simple one. I'm happy with my account, albeit if I ever lose my card again or close that bank account and forget the numbers I don't think I'd be very happy - you're warned!!
Summary: Great and safe way to manage your online money