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Author Topic: Banking, Paypal etc.  (Read 1178 times)

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Offline Artemesia's Garden

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Banking, Paypal etc.
« on: July 19, 2021, 01:07:46 PM »
Hi all,

I have recently been reviewing the financial services that I use, mainly because we are moving house (woohoo!) and I needed to update my addresses.

I got a bit of a shock with Barclaycard because they said thay can't change my address unless they have a mobile number for me already or I use the app. Two years ago I had deleted my 'phone number with them to avoid thier over zealous anti-fraud measures - I was trying to organise a wedding and I kept getting pinged all the time, like whenever I paid for something over £100. I don't wish to go into a branch with so much COVID around, I don't wish to maintain yet another service via an app, I don't even have a smartphone (by choice) lol. So I got huffy and deleted my account. I had Barclaycard Platinum for around 20 years with few problems until recently but this is how it ends :blink:

So why do I need a credit card at all? Well, payment protection used to be really good with Barclaycard, and now I dojn't have that 'extra peace of mind'. Also I guess it also helped to groom my credit rating a little. So what can I use instead to get payment protection? 

I have had Paypal for years, mainly to transfer money to people or buy ponies. There are some protections with Paypal I thought, so maybe I could use it more and tick that box? So I started looking into Paypal and recently there have been a lot of complaints about it, e.g. taking money from the wrong account, lack of customer service etc. So my question is, if you would like to share, do you have a credit card and if so why do you use it? Also, do you have Paypal, is it still the main way that people transfer money to other people or buy stuff in the pony community and if so, have you had any problems with it?

I feel like my world is just contracting as I get naffed off with 'technology' and opt out. Facebook, Google, my credit card... what will be next?


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Offline LadyAmalthea

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Re: Banking, Paypal etc.
« Reply #1 on: July 19, 2021, 01:56:20 PM »
Love the picture...haha, I live near an Amish community and every time I drive through it I get envious; other than the religion part, I wish I could live that way! I don't think they are too welcoming of outsiders, though.

I have 3 credit cards and only use them occasionally, and just pay the bill off as soon as it comes. I probably don't need 3 of them; I had only had the 2, but when I changed banks a few years back they offered me one through them and it made sense to get that one because I could make an easy funds transfer from my checking account to pay it. I'd cancel one or both of the others, but it dings your credit rating to close accounts, so I just keep them 'alive' by making a purchase with them every once in a while and paying it off right away. I also figure if I ever had a real emergency, the combined credit limits on the 3 cards would get me out of most any bind I found myself in if I were in dire straits, and I'd figure out how to pay it off later!

I do have PayPal, but I only use it for Ebay and Amazon...I guess I'd use it for online purchases if I ever made one outside of those 2 places, but I don't know how that works.

Could you just add a phone number to your account long enough to change your address, and then go back in and delete it? I've done stuff like that just to subvert around the technology to get what I want out if it without subjecting myself to their spam...I've even gone to the length of making a 'spam' email address that I give out if I don't want their crap going to my real inbox. It's the worst when places try to force you to use their app...I don't want your dumb app taking up space on my device!

Offline Pokeyonekenobie

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Re: Banking, Paypal etc.
« Reply #2 on: July 19, 2021, 03:17:38 PM »
I don't have an actual credit card.  My debit card has a Visa logo so I can use it as a credit card but I don't ever "charge" anything.  It comes right out of my account.  I've been able to get my finances to a point that I do not need a credit card.  If I can't pay for it with my debit/cash, I don't need it.  I have a PayPal account that I have used when someone wanted to purchase something from me, but that is it.  I don't buy things with it so I can't help you there.

And a credit rating (at least in the States) is simply a number that tells banks you know how to make debt.  Think about it: If you have no bills because you live within your means, you have a zero credit score which to banks says you are a bad credit risk and can't be trusted to pay your loan.  If you have lots of bills that make you live paycheck to paycheck you have a high credit score (assuming you still manage to pay them all on time) and that makes you a good person to lend more money to... :huh:  Oh, and cancelling a credit card or paying off a loan lowers your credit score.

Because of this oddity, the year before I planned to get a new car, I got a Best Buy credit card, purchased a camera that I had the money for on it and made the payments in order to boost my credit score so I could get a decent loan for the car.  Then I cancelled the credit card.

So I've gotten to a point that I don't use/need a credit card.  Even when I go on vacation and they want a credit card for accidentals, they take my debit card because of the Visa logo on it.

Offline Taffeta

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Re: Banking, Paypal etc.
« Reply #3 on: July 19, 2021, 05:30:30 PM »
I've never had a credit card. Maybe one day, but organisation is not my strongest suit and I don't want to spend money that isn't mine to spend if I'm not good at being organised.

I use paypal still. I don't trust anything 100%. But fingers crossed, it still seems to function right now.

I prefer not to give stores my card details online if there is another way to avoid it.

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Offline toyjunky

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Re: Banking, Paypal etc.
« Reply #4 on: July 19, 2021, 08:04:11 PM »
Credit Card - I have ONE credit card, same company for about 20 years. I use it all the time because I typically don't carry more than about $20 in cash in my purse, and usually do not carry my checkbook. I pay the bill off every month. I use it everywhere online bills, store purchases, online gaming, etc. My only comment is that you should ALWAYS look at your bill each month to check the charges. I have had my credit card number used fraudulently twice in that time (both times were after it had been "carbon copied" where the stores used to rub it in a machine and take a carbon copy of it if for some reason their machines didn't work - old method of accounting w/ credit cards). Which then you just call the company, speak to a representative in their fraud department and it all gets fixed fairly easily if found right away.

Paypal - I don't have my own, I use my husbands. Mainly it is for Ebay or occasionally Etsy or some other online store. I know Ebay changed their system though awhile back with how they pay funds as a seller (not via Paypal anymore, through their own system). The caution here would be the same as the credit card, check your account for charges that are not yours. I would also limit the amount of money that potentially is sitting there available. (stuff happens, things get hacked or fraud).

Checks - Old school I know, but I do still write checks out for certain bills and mail them. I do not use them much anymore for regular shopping purposes like I used to.

Debit Card - I do not have one, but same as I mentioned above if you do, just check your statements for fraud activity (again, stuff happens). My husband has had this occur a few times over the years.

Offline Bekuno

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Re: Banking, Paypal etc.
« Reply #5 on: July 19, 2021, 10:35:52 PM »
Gonna just mildly throw my two cents in here. I'm 24 and don't have a credit card, I think they're so dumb and have yet to have a use for one, but I know I will eventually.

I personally would not get a credit card with Paypal. I know you're in the UK and you have a different bank situation there (I personally have an account with a local, mostly trusted, credit union and thankfully never had fraud issues). Though Paypal is still one of the most popular ways to shop online and they are good about chargebacks and fraud I'm always very cautious.

I'm an artist who takes paypal payments through invoices in order to keep myself and customers safe. The one thing artists teach each other right away is to make sure you mark all your invoices as delivered (you have to do this even if its digital goods) and to never use your paypal as a bank account. If Paypal suddenly feels your doing something suspicious, they will lock your funds completely. I transfer all money into my bank from paypal ASAP just in case it happens. All it takes is an inappropriate comment on a transaction. I feel like as long as you use invoices and make sure everything is marked as goods and services (unless you're genuinely not paying for an item) you'll be okay 90% of the time. At one point I guess I had transferred so much money around that paypal locked me out until I gave them my photo ID and SS# which freaked me out but now everything works fine. But if I were to have my account closed by Paypal, I would never be able to make another again. That kind of thing scares me. I hear Square is better for many but Paypal still dominates.
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Offline Pokeyonekenobie

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Re: Banking, Paypal etc.
« Reply #6 on: July 20, 2021, 12:33:14 AM »
I'm actually listening to Dave Ramsey's Total Money Makeover right now.  He explains a lot about loans and debt in a way that makes sense.

Offline lovesbabysquirmy

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Re: Banking, Paypal etc.
« Reply #7 on: July 20, 2021, 12:44:10 AM »
you have to LEVERAGE your debt ... it can work for you but don't tip the scales too far or it will work against you.

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Re: Banking, Paypal etc.
« Reply #8 on: July 20, 2021, 10:14:53 AM »
I don't have a credit card due to low income/on benefits, but I have started selling again via Etsy as they pay straight into my bank account. I haven't had any transactions recently, and PAYPAL (wrongly) suspended me years ago so I can never use them again (not that I would anyway because of what they did.) I have the option to use Buy Me A Coffee, Ko-Fi, and a phone app that takes card payments via Stripe so I can accept both debit and credit cards.
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Offline Artemesia's Garden

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Re: Banking, Paypal etc.
« Reply #9 on: July 20, 2021, 06:41:35 PM »
@Lady Amalthea: I tried that one  ;) they weren't having it!

@Pokeyonekenobie  loved reading your real explanation of the credit score. It's the same here too. We got our mortgage recently with a trusted building society but otherwise debt free and prefer to live within our means.

@Taffeta being organised is an effort for me, although i can do it I prefer as uncomplicated a life as possible

@Toyjunkie you're right I really should check my accounts more carefully

@Bekuno no plans to use PayPal for credit just to make teansactions rather than paying directly from my current account. Good to know that PayPal is still ok for many people's needs and really good to know those cautions thank you

@lovesbabysquirmy that's a great way to put it. I think we've done alright getting the mortgage but I think thats the only thing we would ever borrow money for. Can you expand a bit more maybe?

@BabyGirlBex I'm sorry PayPal were unfair to you, I guess this is what Bekuno is warning about. Good to know that it hasn't stopped you and that there are other options. My friend just set up an Etsy shop I'm glad to hear it works well for sellers.
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Re: Banking, Paypal etc.
« Reply #10 on: July 20, 2021, 07:55:37 PM »
So i'll go ahead and weigh in here. i've had quite a journey with credit cards. sorry in advance for the long post

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« Last Edit: September 06, 2021, 11:04:19 PM by Beth3346 »
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Offline Artemesia's Garden

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Re: Banking, Paypal etc.
« Reply #11 on: July 21, 2021, 09:44:30 AM »
:carefully puts post-it back over webcam:

Thank you for the open discussion, that's really interesting to hear. It sounds as though we're at a similar stage with the home buying. I'm surprised that in the USA you can be credit checked for work and that you may have to pay for on-the-job-training.

I hear you on the class divide with debt. I did use debt to manage my finances when I was a student but it was stressful wondering whether I would be able to get out of it once my college days were over.

I closed the Barclaycard and just decided to take the ding on my credit score. We won't be re-mortgaging for a year or two so I feel like I can do without it. Maybe it's husband's turn to get a credit card and administer it on his shiny smartphone... As long as I can still read My Little Pony Arena on my HTC Desire HD (circa 2005) I see no reason to get an upgrade  :lol:

Post Merge: July 21, 2021, 09:47:29 AM

Love the picture...haha, I live near an Amish community and every time I drive through it I get envious; other than the religion part, I wish I could live that way! I don't think they are too welcoming of outsiders, though.



It's a shame they don't do 'Amish Experience' holidays for urban burn-outs, I would love to hand in my keys and go off grid for a few weeks... but wait! https://www.discoverlancaster.com/directory/beacon-hollow-farm-amish-guest-house/
« Last Edit: July 21, 2021, 09:52:09 AM by Artemesia's Garden »
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Re: Banking, Paypal etc.
« Reply #12 on: July 21, 2021, 01:40:30 PM »
:carefully puts post-it back over webcam:

Thank you for the open discussion, that's really interesting to hear. It sounds as though we're at a similar stage with the home buying. I'm surprised that in the USA you can be credit checked for work and that you may have to pay for on-the-job-training.

I hear you on the class divide with debt. I did use debt to manage my finances when I was a student but it was stressful wondering whether I would be able to get out of it once my college days were over.

It's a shame they don't do 'Amish Experience' holidays for urban burn-outs, I would love to hand in my keys and go off grid for a few weeks... but wait! https://www.discoverlancaster.com/directory/beacon-hollow-farm-amish-guest-house/

Sorry i need to clarify.

For jobs the credit check can be a part of the background check. from what i understand it's just to ensure that you haven't defaulted on any financial commitments.

Job training really depends on the company. I did pay for most of my training to become a web developer. this was post college and before having any job lined up. i did work as a freelancer while I trained. it was mostly online training subscriptions for $20-$30 per month. and hours and hours of learning. so mostly a time commitment.

now there are bootcamps and schools for web development. that would probably involve a loan for most people. i was lucky to not have loans after college. college costs in the US are much higher now than they were 20 years ago. i'm not sure what the approval process for loans is. it seems strange to give an 18 year old a loan for almost $40k (https://www.investopedia.com/student-loan-debt-2019-statistics-and-outlook-4772007)

some companies provide training budgets or have online training. it can vary depending on the field. most companies I've worked for don't really provide time during the work day for training though.

some companies also expect you to pay for any required travel and get reimbursed. company credit cards used to be a thing. i chose a field that didn't require travel :)

also i think i found my next vacation after covid is over :)
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Offline Artemesia's Garden

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Re: Banking, Paypal etc.
« Reply #13 on: July 22, 2021, 07:00:43 AM »
:carefully puts post-it back over webcam:

Thank you for the open discussion, that's really interesting to hear. It sounds as though we're at a similar stage with the home buying. I'm surprised that in the USA you can be credit checked for work and that you may have to pay for on-the-job-training.

I hear you on the class divide with debt. I did use debt to manage my finances when I was a student but it was stressful wondering whether I would be able to get out of it once my college days were over.

It's a shame they don't do 'Amish Experience' holidays for urban burn-outs, I would love to hand in my keys and go off grid for a few weeks... but wait! https://www.discoverlancaster.com/directory/beacon-hollow-farm-amish-guest-house/

Sorry i need to clarify.

For jobs the credit check can be a part of the background check. from what i understand it's just to ensure that you haven't defaulted on any financial commitments.

Job training really depends on the company. I did pay for most of my training to become a web developer. this was post college and before having any job lined up. i did work as a freelancer while I trained. it was mostly online training subscriptions for $20-$30 per month. and hours and hours of learning. so mostly a time commitment.

now there are bootcamps and schools for web development. that would probably involve a loan for most people. i was lucky to not have loans after college. college costs in the US are much higher now than they were 20 years ago. i'm not sure what the approval process for loans is. it seems strange to give an 18 year old a loan for almost $40k (https://www.investopedia.com/student-loan-debt-2019-statistics-and-outlook-4772007)

some companies provide training budgets or have online training. it can vary depending on the field. most companies I've worked for don't really provide time during the work day for training though.

some companies also expect you to pay for any required travel and get reimbursed. company credit cards used to be a thing. i chose a field that didn't require travel :)

also i think i found my next vacation after covid is over :)

It's the background check thing that I find amazing, really I don't think they have a right to know everything about me. They just need to know how to pay me lol. My current company have recentrly brought in special credit cards for expenses that they reimburse. I told them I wasn't willing to apply for credit to pay for routine work expenses and refused. I was using my own Barclaycard but thier system made it a lot more difficult to claim back if you use your own card. I was kind of pleased when COVID stopped travel because it was a PITA. Sure enough they haven't been administering the reimbursements properly and people have been left out of pocket. So I'm glad that I've just changed my job to a field where i don't have to travel.
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Offline Taffeta

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Re: Banking, Paypal etc.
« Reply #14 on: July 24, 2021, 12:44:50 AM »
I'm glad I'm not the only one who has a long history of post-itting the webcam. They're just right for the job. Although with so much sister skyping, this one has so far escaped...
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