Yep, yep, yep! I do keep a seperate account for paypal..then, I transfer
from that account into another account at a different institution. Works
great...and when accepting payments, be sure to transfer out the payment
as soon as it is posted. It should always go without saying to keep your
paypal balance at zero. Then, they cannot (easily) get their grubby hands
on your money.

Also, a much more secure way of sending payments via Paypal is to fund it
via a credit card. Paypal does not like you to do this, and always
defaults to your checking account. But, select the fundung options link,
and change it to your credit card. Then, you have all of the chargeback
protection of a card. Paypal hates that, but it is your only real
protection. Do it, and do it always.

Now that eBay owns Paypal, there are additional issues on their
oppressively conservative policy....but I will spare the political debate.

Jon

On Thu, 8 Apr 2004, John Rodgers wrote:

> I have heard before, these tales of woe, regarding PayPal.... and also
> Ebay. Questioned my banker about checking account security and how to
> keep from getting ripped off. His advice.......set up a separate
> checking account, keep only enough money in it at any given time to
> cover the current purchase, PERIOD. Then there is no was way double
> dipping can occur. You have your hand on the money, and YOU can dictate
> policy when you are in control.
>
> Sounded reasonable to me.
>
> Regards,
>
> John Rodgers
> 88 GL Driver
>