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PayPal introduces new fee for dormant accounts
11–20 of 136 posts
Re: PayPal introduces new fee for dormant accounts
#12Earlier quoted context omitted.
same here. Lost 2fa due to water damage on phone. and all the data was irrecoverable. Now even if i give every data their customer service don't care. From that day i haven't used any 2fa and just use password manager with additional backup.
password managers let you store the one time password key. this removes the "two factor" nature of two factor, but retains the one time password nature of one time password. I honestly can't relate to people losing their access because something happened to their phone. The QR code is just a string of letters and numbers and you can save the QR code and the string of letters and numbers. I've been doing this for like…
Do they have the that though? When I turned the 2FA on it was only SMS option, so if your phone number is lost you are out of luck.
Re: PayPal introduces new fee for dormant accounts
#13Making sure that discussion will not heat without checking the content: > PayPal is to introduce a £9 “inactivity” fee for anyone whose account has been dormant for at least a year, but still has some money left in it. So it applies to money that's left on account. Once the balance is 0, there is not extra cost. It's not that I'm happy in particular, as I have account there also, and I had to transfer remaining money…
Nice, a bailin. But sure, most banks have fees like that, and typically don't for a few years just to attract the broke people that were looking for an account with no fees. Then they turn them on.
In Britain (and the article is in a British paper), most banks don't charge fees for normal, consumer bank accounts.
They make the money in other ways, which is a different discussion, but it does mean people aren't used to paying for a bank account.
Re: PayPal introduces new fee for dormant accounts
#14Well, I'm glad I don't have money left there, because I had two factor authentication turned on, and for some unforseen circumstances, I lost my phone number. PayPal customer service is actually quite hard to contact, because every possibility they give you requires you to log in. I found an email address somewhere, but when I wrote them telling them about my situation, I got an email that if I log in I can check the…
I have the same exact problem! I wanted to delete my account, just in case, but I cannot login. I haven't used Paypal in over 10 years. Their "service" is really not needed anymore.
If you sell on eBay, Paypal is heavily integrated, to the point I'm not sure you can complete a transaction without it.
Re: PayPal introduces new fee for dormant accounts
#15Seems more like they're trying to get abandoned accounts down to $0 in their wallets so they can cancel all the abandoned accounts wasting space on their server than actually trying to charge people a fee for something.
Re: PayPal introduces new fee for dormant accounts
#16Earlier quoted context omitted.
password managers let you store the one time password key. this removes the "two factor" nature of two factor, but retains the one time password nature of one time password. I honestly can't relate to people losing their access because something happened to their phone. The QR code is just a string of letters and numbers and you can save the QR code and the string of letters and numbers. I've been doing this for like…
Do they have the that though? When I turned the 2FA on it was only SMS option, so if your phone number is lost you are out of luck.
I don't know about paypal.
Re: PayPal introduces new fee for dormant accounts
#17Fairly unethical, though their rationale is probably something like 'hey everyone else is doing it!'
My state has a law where it account goes dormant for a long time, the balance is turned over to the state. The state sees this as revenue, but an individual can submit a claim online and recieve it for no fee, up to 10 years I think.
Re: PayPal introduces new fee for dormant accounts
#18Seems more like they're trying to get abandoned accounts down to $0 in their wallets so they can cancel all the abandoned accounts wasting space on their server than actually trying to charge people a fee for something.
This isn't about "wasting space on their server", it's about confiscating money left in those accounts. It's illegal for them to just take it, because it's not theirs.
Re: PayPal introduces new fee for dormant accounts
#19Earlier quoted context omitted.
same here. Lost 2fa due to water damage on phone. and all the data was irrecoverable. Now even if i give every data their customer service don't care. From that day i haven't used any 2fa and just use password manager with additional backup.
password managers let you store the one time password key. this removes the "two factor" nature of two factor, but retains the one time password nature of one time password. I honestly can't relate to people losing their access because something happened to their phone. The QR code is just a string of letters and numbers and you can save the QR code and the string of letters and numbers. I've been doing this for like…
Storing the second factor in the same password manager as the password is a lot like having a post-it with the password on your desk: it's practical, but defeats the purpose.
But to add to this, I wouldn't ever set up a 2FA on a service that doesn't allow multiple second factors, and mostly static backup codes. Having only one (ie. device) is a much higher risk, of being locked out, than having the password stolen.
Re: PayPal introduces new fee for dormant accounts
#20Well, I'm glad I don't have money left there, because I had two factor authentication turned on, and for some unforseen circumstances, I lost my phone number. PayPal customer service is actually quite hard to contact, because every possibility they give you requires you to log in. I found an email address somewhere, but when I wrote them telling them about my situation, I got an email that if I log in I can check the…
Similar here. I've been using PayPal to receive our Patreon balance each month and pay various project (sqlitebrowser.org) related experiences. Just over a week ago, when I tried logging in to PayPal (2FA is not enabled) a new screen appeared saying they'd sent an SMS with code to my phone number, and I need to type it in. Problem being, the phone number they displayed is not mine. I've never given them my mobile num…
>PayPal is the main reason I'm not positive on Elon Musk's history... they've been "known bad" for many years, including when he was there. He started his fortune from building a company that knowingly scams people. :(
There's plenty of possible things to criticize him for, but this seems like a weird one. PayPal was started by Confinity. He founded X.com in 99ish and they merged like a year after, but then he got the boot as CEO in a matter of, months? Weeks? Don't remember why, but while he still owned a ton of stock he was out in management. Then Ebay bought it all in like 2002. 20 years after his departure, itself before he had any real chance to make a mark, and 18 years after being bought, seems like a bit of a stretch to hold that of all things against him?
Edit: also man what a crazy time, I mean it was obviously crazy even at the moment but still thinking back on the timelines it's still wild.