Tuesday, February 23, 2010

How secure Paypal is ?

“Paypal” an extremely common name among regular internet users and one of the pre-requisites to sell and purchase items on the websites like ebay. We all trust on this amazing service which gives us comfort to send and receive money on a global level.

But for every comfort one has to pay the price. Paypal is associated to numerous scams and frauds. There are a number of examples we could come across when we just type “paypal frauds” in the google search field. The result would list millions of scams paypal has conducted. For eg, paypal bans your account without any reason, cut unnecessary charges, and make huge delays while withdrawing the payment.

A recent example is, the personal payments to and from Indian would be suspended for at least a few months. The decision came under light without any prior notice. But, it is a fact that all the transaction of late January and February 2010 has been suspended in personal accounts and withdrawals has been cancelled, whether it is personal, premiere or business. Merchants won’t be able to withdraw their funds from paypal for an unknown time span. So where should these guys go ? Is there place in the world where they get justice?

Millions of dollars are struck which belongs to Indians. The money of their hard work they can’t use. There might be some emergency, may be social or medical. They are just helpless at the moment. Paypal would have told them at least a week ago before suspension of accounts and cancellation of withdrawals. This behavior is thoroughly unprofessional and dark in terms of honesty to the customers from the world’s no.1 online money transaction company known as “Paypal”.

Any other country could be their next target. Here the question arises : –