Paypal

Alpha Knife Supply said:
The theft occurred years ago.

We always kept less than $1,000 in the account.

We received an e-mail from PayPal saying a purchase was made using our account. We e-mailed PayPal and said we had not used the account. PayPal did not reply. Over the next few days multiple purchases were made. We e-mailed PayPal several times requesting our account be frozen. We never received a reply. We also tried calling PayPal several times and was not able to get results. After about a week after the account was empty we received an e-mail from PayPal saying they regretted our problem but there was nothing they could do.

After our account was hacked we spoke to an attorney who told us PayPal was not regulated the same as financial institutions like banks. He explained we signed away our rights when signed up for the service.

This was an expensive lesson but I'm glad we learned it early. We've since had our business credit card hacked multiple times. Every time the account was shut down within minutes after finding the problem and we've never lost a penny.

Chuck
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Did you change your password after the first purchase was made?
 
u812 said:
Did you change your password after the first purchase was made?
Click to expand...
After receiving the e-mail we tried to log into our account but the password had been changed by the hacker.

For some reason the hacker did not change our e-mail address.
 
He didn't change the address because it would have had to have been verified. The goal is to be in and out quickly, with the least amount of work. Did you happen to log a dispute via online customer service? It is VERY important to do that as soon as possible to establish a time line. You said you called several times but I don't think that is trackable.
 
Rick Marchand said:
Did you happen to log a dispute via online customer service?
Click to expand...
No, we did not log a dispute with customer service.

Over several days we:
1) Wrote multiple e-mails
2) Call multiple times

We requested our account be frozen until the situation could be investigated. There was no response until a few days after our account was empty. The most frustrating part was the hacker took a few days to deplete the account. We received e-mails of purchases and were powerless to do anything.

I did not at the time, and do not feel now, that logging an on-line dispute is the way to stop a hacked account. A hacked account is different than not receiving a purchase or being overcharged.

PayPal should work the same as a federally regulated financial institution. You should be able to make one call and have immediate response within a few minutes. If PayPal were regulated the same as banks we would probably use their service again. Until then, we will not take the risk.
 
I was hacked years ago, it sucked because it was linked to my debt card and bank account (someone buying porn in England). Got the money refunded but I learned my lesson. Got the key fob and have never had an issue since. I like PP for the convenience, plus it's my rat hole money that the wifey never sees. Out of sight out of mind!
 
I called when my debit card info was stolen,got someone on the line very quickly.They told me to change my password and transferred me to the debit card dept. , they picked right up,cancelled my debit card and issued a new one in just minutes. Maybe the customers service has gotten better recently.
 
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