TLDR: Paypal bullied me out of my life savings, and they won't hesitate to do the same to those who can't defend themselves.I know that this is a savvy community and that most people here already have access to cryptocurrency if they want it and have no need for paypal's watered down offerings. That said, we are the ones our communities will come to for advice on these matters and I think that despite all the fanfare surrounding Paypal, and despite all the market gains we are seeing due to their move, its extremely important that we remember how incredibly shitty of a company Paypal is.I stopped using them around 2012. Around 2010 is when they first bankrupted me. I was still a student, and didn't have much in the way of cash reserves, but what I did have I kept in a traditional checking account. I tied this account to Paypal so that I could sell some things on eBay. Later that year, I went to make a purchase on my debit card and was declined. When I looked at my balance, I saw that PayPal had made a penny perfect withdrawal 100% draining my bank account. They insisted that they would reverse the transaction, but never did. After weeks on the telephone, they mentioned that someone had all my personal information and was using that to continuously access my account. Whether it was an employee or hacker, I still don't know. I closed the account, and my bank account and moved on when it was clear they had no intention of helping me.In 2012, I figured they must have worked out their issues, and I again tied my new bank account to paypal so that I could use eBay. Same exact thing happens. About a year after using the service and forgetting about it, a paypal charge comes in clearing my bank account and causing overage fees. I got the same exact run around from customer service there. Nobody would give me any information whatsoever, despite weeks of calling on the phone. Eventually, they told me I was too high of a burden to be their customer and terminated my account, including access to any logs I had not exported. When I told them I needed this information to file my police report, they told me the information would be available only if I judge told them to hand it over - or in other words: "have fun taking this multibillion dollar company with a dedicated legal department to court, asshole."Never again, and DEFINITELY NOT WITH CRYPTO. They had the chance to help me, and wouldn't simply because doing so would confirm that they lost control of my banking information. With crpyto, I am sure they would just save time by sending a form letter explaining the immutability of the blockchain.If you have a paypal horror story of your own, feel free to share it here or at https://ift.tt/1qGQYou where a great diversity of paypal screwups are on display.Please please please, do not let your less knowledgeable friends use this terrible company. Not your keys, not your crypto!/rant
Submitted October 22, 2020 at 01:47AM
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