- This post is NOT out of date if it's close to Feb 6, 2011 -
Hi Mom,
We were talking yesterday and I mentioned how I protect my credit card and bank accounts online with PayPal and you asked for more information. Here it goes - long description :)
To avoid online scams and piracy and to protect my purchasing information. This is what I do:
- I only buy with PayPal - www.paypal.com - If a site does not have PayPal I will usually not buy anything there because I can usually find the same product on www.Amazon.com or somewhere else that does accept PayPal. If I pay a dollar or more at these sites, that's fine. It's worth the peace of mind.
- I only put my credit card details into my PayPal account. PayPal asks for your bank account details, as well. DON'T DO IT. There's no reason. Your credit card details will work just fine and it provides another level of protection to you, i.e., Merchant -> PayPal -> Visa/Mastercard/Amex/Discover -> Bank -> You. The more layers the better.
- I never purchase anything with my credit card on a site I am not 100% familiar with, www.bestbuy.com, www.walmart.com etc. Even then I am nervous and much rather use PayPal. If you do, check the domain in the web browser address bar. If it says something funny like www.walmartshop.com DON'T BUY ANYTHING. Always err on the side of safety. It's much better to go to the store and pay $5.00 more than to get burned online and have to dispute a $1,000.00 purchase on your account and get a new credit card.
- I never purchase with my Bank Account details or check details. This is WAY, WAY, WAY too dangerous. 100 times as dangerous as buying with a credit card (debit card). 10,000 times more dangerous than purchasing with PayPal. When you purchase with your bank account you only have your bank as a refund recourse. We all know how GREAT service banks give. DON'T DO IT. It's not worth the risk or the hassle.
So why do I recommend PayPal?
PayPal let's me dispute or chargeback ANY purchase I make. So if I buy a lamp and it's not the what I thought it would be and the merchant does not return my emails/calls... CHARGEBACK. You will get all of your money back from the purchase.
Remember, the more layers the better. Safety First!
Aloha Mom, I love ya,
Paul