PSA: Time to update those PayPal passwords

[Shoreline Music]

Paypal is the single most secure payment method we use. I have personally audited hundreds of thousands of orders, and never once encountered a fraudulent Paypal transaction. Compare that to the 2500 or so fraudulent credit card transactions I've run across.

Plus, unlike credit card companies, Paypal actually protects sellers from fraud, too. It's not a bad arrangement.

But this past week, Shoreline Music been hit with a rash of fraudulent orders....using PayPal. I've never seen this before, and I recommend that you secure your account with a password update.

John

[Arthur Blake]

Thanks, John.

Interesting because I got an email that my PayPal account has been "limited because of significant changes in your account activity," and I need to click on a link to rectify the situation. Interesting because I don't have a PayPal account.

[sled]

I heard PayPal only guarantees transactions done through Ebay? Is that correct?

[Shoreline Music]

Originally Posted by sled

I heard PayPal only guarantees transactions done through Ebay? Is that correct?

They guarantee nearly all of our transactions, so I'm guessing it's probably commercial enterprises or known and trusted entities and marketplaces.

[Herb Hunter]

Thanks for the warning.

[Ted @ LA Guitar Sales]

Originally Posted by sled

I heard PayPal only guarantees transactions done through Ebay? Is that correct?

This was a rumor while eBay owned Paypal, which they no longer do. In fact, on eBay your only protection has always been Paypal, as eBay has no power to issue refunds.

As to the OP, lots of scams going around, and not just with Paypal. Has to do with the global economy. I've been processing online orders for over 20-years, but in the last year I've seen more fraud attempts than in all the years combined. We run a pretty tight ship so no fraudulent orders have gone through, but it does mean our clients might have to pay a little more attention when entering their info. So far we've received no complaints about the additional security.

[Jeremy]

In addition to updating your passwords, you should use two factor authentication as well: https://www.paypal.com/webapps/mpp/s...ty-protections

[BrunoBlack]

Thanks everyone -- good information.

[mdunn]

Thanks for the update.

In the last month I have been selling a lot of Yamaha FZ 750 motorcycle parts in an effort to get the supply out of here before we move.

It is all E-Bay sales.

In the past with PayPal I usually had access to my money within a day or so. Now it is taking 10 days to two weeks. I have a 100% rating on E-Bay.

Slowing down payment also gives Pay Pal access to the money they make with the float! Hummmmmmmm.