any details? I just got an email today. I've been a user since 2000... anyone else joining the suit?

 

help, please (I've been out of the news loop for a while now.)

I got one as well and read through it. I don't feel the need to get involved so I deleted it.

Is it legit? Are they asking for personal info???

I use Paypal a lot and find it strange I didn't receive the email. I'm with SS on this and very wary of a scam.

 

And Good to here from ya PA!

Just used it yesterday, totaling about a dozen times this month and I haven't heard about this either..

Got it today, it's legit.

I got it too. I'll have to ask my dad since legally it's his account. I only use it for collegerpi.com anyway.

Edited July 29, 200421 yr by danman31

What's paypal?

An internet based website that you can sign up with and use your credit card and/or bank account to transfer funds to anyone in the world who uses their site as well.

 

It is very popular with those who buy and sell on eBay.

 

 

EBay owns it.

An internet based website that you can sign up with and use your credit card and/or bank account to transfer funds to anyone in the world who uses their site as well.

 

It is very popular with those who buy and sell on eBay.

 

 

EBay owns it.

Thanks

I've long been a member, but never got anything.

Just got a e-mail today, but I didn't read it right away, way too many, you know, words.

 

Maybe I'll read it later.

Got it today, it's legit.

I got it as well, don't know if I am going to participate or not though because the class action website was down this monring. I'll probably try once or twice more just to see.

Someone post a synopsis, please.

This is the real deal

 

http://www.msnbc.msn.com/id/5550334/

well I didn't have those issues and I've been on paypal since 99 or so. Guess I can't be a part of it.

 

I've never had a problem with my PayPal account.

I've been using it forever and never had an issue. Must be the bigger fish.

I've been using it forever and never had an issue. Must be the bigger fish.

Ditto and that is what I am guessing.

I've been using it forever and never had an issue. Must be the bigger fish.

Back in 1999 when Paypal was still new, the crooks were working the system faster than Paypal could plug the holes. Some people felt their Paypal money had the same protections as a bank account (FDIC) or a credit card. PayPal felt otherwise. Basically PayPal operated almost like a "gift certificate". You have some money here that we are holding, but we are NOT a bank, we are NOT a credit card.

 

During that time, some people had their accounts frozen, with hundreds or in some cases, thousands of dollars on "deposit". PayPal was trying to determine if those monies were the results of fraud, or legitimate transactions. Those people are the ones receiving some compensation for not having access to their money.

Back in 1999 when Paypal was still new, the crooks were working the system faster than Paypal could plug the holes. Some people felt their Paypal money had the same protections as a bank account (FDIC) or a credit card. PayPal felt otherwise. Basically PayPal operated almost like a "gift certificate". You have some money here that we are holding, but we are NOT a bank, we are NOT a credit card.

 

During that time, some people had their accounts frozen, with hundreds or in some cases, thousands of dollars on "deposit". PayPal was trying to determine if those monies were the results of fraud, or legitimate transactions. Those people are the ones receiving some compensation for not having access to their money.

I sold a car on there 11 days after opening my PayPal account and I didn't have an issue getting the $ transfered to my bank account.... Granted it was a one time thing - most of the time I'm buying anyway.. but when I've sold it's been for less than $100 most of the time. Guess I just got lucky.

I sold a car on there 11 days after opening my PayPal account and I didn't have an issue getting the $ transfered to my bank account.... Granted it was a one time thing  - most of the time I'm buying anyway.. but when I've sold it's been for less than $100 most of the time. Guess I just got lucky.

It didn't happen very often, and IIRC it was the high volume accounts that had the problems. If you all of a sudden had a couple hundred people, all paying you the exact same amount, it threw up red flags. Some pyramid schemes, fake raffles, etc. used Paypal because of the lax banking laws.