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OPENING A PAYPAL ACCOUNT, GIVES LIFE LONG ACCESS TO YOUR MONEY TO SCAMMERS!
Once PayPal have your bank account details, at any stage they can take your money, and you may have to argue for weeks, if not months to get your money back, if you get it back.
They can also freeze your funds, again it will be on you to fight to get your own money back.
PayPal have deals going with Australian Banks, so even if you dont have an account with PayPal, they can get unrestricted access to your money, begging the question "HOW?"
Lets say you receive an email saying you have just made a huge purchase through PayPal, so you call your bank, in a recent case this was the Commonwealth Bank in SA.
You phone the Bank and tell them what is going on, at this stage you are not missing money, because it may take days for the scammers withdrawal to show up, but guess what, your bank will not protect your money if PayPal have requested it, even if you ask them to protect you, even if you have no contract of any kind with PayPal.
Your Bank will let them take it, with no limit to how much they can take, then you have to prove it is your money, this can take up to 45 day or more.
The banks will then offer you an overdraft, for which you may have to pay huge interest, but what else can you do?
Go straight to PayPal now and close your account by removing all your bank details, you cant apply dodgy bank details to protect yourself, as they have access to all Australian Bank details.
Do some research and protect your self NOW.
This article will be updated and others are on this site, if your bank wont protect you, best you do all you can to protect yourself.
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