Sep 14

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Is PayPal safe?

Powered by Guardian.co.ukThis article titled “Is PayPal safe?” was written by Tony Levene, for guardian.co.uk on Friday 14th September 2012 10.11 UTC

Providing you ignore those “phishing” emails which pretend to come from PayPal (they try to get your personal banking details), the firm has a good security record.

The difficulty is where something goes wrong, possibly with the goods you buy. PayPal is not a credit card so you have no protection under the Consumer Credit Act.

It is not regulated, so you can’t complain to the Financial Ombudsman Service. And its 45-day complaint period – after which it generally refuses to deal with consumers – has no basis in law other than PayPal’s own terms and conditions. This can be very short – especially if dealing with an overseas seller.

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