Paypal is the biggest online payment system recognized worldwide, with over 277 million users, including 22 million merchants. On the other hand, the most prominent online epidemic is that people are victims of scams, frauds, and hackings online; some of them are hoaxes, and some are real. With the dilemma of getting scammed in mind, many people wonder if they can trust PayPal with their money.
Well, there is no doubt that PayPal itself is one of the most secure online platforms that you can trust with your money. However, there are so many outside scams that PayPal cannot handle if you don’t know how to keep yourself safe, and I’m here to help you with that.
PayPal Tips you must follow
PayPal’s security is useless until you know how to stay safe from your end. Here are the things you should know and follow to stay safe while using PayPal:
1. Don’t link your Debit card or Bank account to your PayPal account
Although PayPal wants you to link your bank account to your PayPal account and you have fewer charges that way as well, but it’s not safe to do so. If something goes wrong and your PayPal account gets compromised, the fraudsters will pull all your money out from your bank account.
However, if you want to link your bank account with the PayPal account, the bank has to be from the US, according to federal law, you have 2 Days to refute the fraudulent charges.
2. You can link your credit card to your PayPal account
When you shouldn’t link your Bank account or debit card to your PayPal account because you have less security with that! Now for the same reason, you can link your credit card with PayPal account because there is security with doing so.
If you get compromised somehow, the fraudsters may suck off your money from the account, but you have a chance to claim a refute up to 60 days from your credit card provider company.
3. That email may not be from PayPal!
If you get an email from the official PayPal website, it still may not be an email from the PayPal service! There are ways of work the fraudsters and the scammers use, such as phishing email, email spoofing, and so on. They use these ways to make real-like emails and send them to the targeted person. If you are a target, they may send you an email using the official email address of PayPal, including some links on the email body.
Remember this, PayPal will never include clickable links on the email body, and you should never click on them if you can see a link. If you get an email, you can manually log in to your PayPal account, and look at the dashboard if there is something you should look at.
4. Keep your device’s security up-to-date
If your PayPal account gets compromised, it’s not PayPal’s fault; you have to make sure that you are safe from your end as well. To start securing yourself, you must secure the device you use to log in to your PayPal account in the first place. Make sure you have installed all the latest security patches that your device’s manufacturer provides as a security update.
These security patches contain the antivirus programs to the latest spyware and malware that may harm your device’s security system. If your device gets hacked, the hackers get their hands on your login credentials as well.
5. Never use a public PC to Log in to your PayPal account
One thing you never should do is log in to any of the important sites, including PayPal, using a public PC. Public wifi zones and PCs are the easiest to crack in and hack personal data of the people who are using it. Anybody who was in that PC can install spyware or keylogger on that PC, which makes you vulnerable.
That spyware will collect the login credentials you put in, and send them to the backdoor the fraudsters put in that PC. This is how they will easily get access to your PayPal account.
6. Use a trusted internet connection to log in to the PayPal account
When you are using a PC in your home, you still have to take precautions to protect yourself from the fraudsters. If you use an internet connection that you don’t know much about, you are in danger even if you are using your own device.
It’s even worse if you are using a wifi connection because Wifi connections are easier to crack in. What you should do is, Use a trusted internet service provider, use a wired ethernet connection on your PC to access the internet.
7. Get yourself verified and use only Verified merchants
Anybody can create a PayPal account using an email address, but only when you provide enough additional information about yourself, you get verified. Making transactions with verified merchants doesn’t mean that you cannot be a fraudster, but it adds legitimacy and protection as PayPal has their info.
Getting yourself verified is easy enough; you have to link your bank account to the PayPal account. You can have an additional Bank account with less money in it for PayPal.
8. Keep an eye on your PayPal balance
Whenever you are checking your PayPal Balance, keep a record on that, make sure you are paying attention up to the cents. Fraudsters usually start with cents, then a whole dollar to Five dollars, and once they understand that you are not noticing the changes, they give it a big shot. If you keep track of the balance, you will be able to report it to the PayPal customer service for a fraud report.
Using PayPal is be a great experience if you know all the possible security vulnerabilities and if you can take prior actions to prevent any kind of breaches. You should get to know the security precautions according to your account type.
If you are a merchant, Use PayPal’s 3D Security Protocol, which is compliant with the SCA even though you have to provide security code to the bank. Use PayPal security keys for extra security and keep your shipments secure.