PayPal issues warnings

12

PayPal Load Money cardYou might be aware that PayPal MyCash cards can be found in many stores and can often be bought with a credit card.

Some people have been using these for manufacturing spend: they buy the cards, load the card value to their PayPal account, then withdraw the money to their bank account.

Not surprisingly, PayPal isn’t a fan of this behavior.  Last week, PayPal sent the following email to many of their customers who have been buying these cards and using them in ways not as intended. Below, names have been removed to protect the (not so) innocent and bolding has been added for emphasis:

Dear __________,

We like to keep things safe and secure, including your PayPal account. To do this, we regularly check the activity on our customers’ accounts.

We’re not sure you’re aware but it appears the MyCash has been used for deposits to your PayPal account, and then those deposits have been withdrawn.

The MyCash feature is for making deposits to your PayPal account for retail purchases.

If we continue to see this activity of using the MyCash with your PayPal account for cash withdrawals, we may have to limit or close your PayPal account.

If you think we’ve made an error, here’s how to contact us.

1.Log in to your PayPal account.
2.Click Contact Us at the bottom of the page.
3.Click Send us under Email Us.
4.Follow the instructions to complete the steps.
We value your business and appreciate your attention to this matter.

Thank you for being a valuable member of the PayPal community.

Sincerely,

PayPal Compliance Department

PayPal, an eBay Company

Now to find a safer way to unload those funds…

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