this post was submitted on 15 Sep 2023
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The reason why I will do not do SEPA and instead give them my PayPal instead.
That way I get a full on notification in case someone withdraws anything from my account.
I hate PayPal. when my paycheck arrived late from company mishandling things, PayPal decides to throw a bunch of payment requests at my bank and cause 2 overdraft fees a day. I racked up $35 fees in 4 days, totaling 280 dollars. PayPal just told me that is how their system works and to ask my bank for them to forgive the fees. I was forgiven one fee. I hate banks and paypal.
I had that happen to me, $0.02 overdraft + $30 overdraft fee... like WTF. Since then I've found a bank where I can block the overdraft "feature", it's the only account I ever give for payments, and only if there is no alternative.
My problem is I removed overdraft protection, and this causes PayPal to literally panic and shoot my bank with multiple requests. I still get hit with the $35 overdraft fee, and PayPal gets rejected. I rejected the overdraft cash the bank can use to pay the overdraft charges and will still apply the dam fee. I hate banks so much.
SEPA is just a method, no one can just take money without permission. If anything, you gave PayPal permission so it can draw from your account, unless you transfer money to sit in your Paypal account.
Then I'll say it this way:
Paypal > Bank transfer via SEPA/flavor of the day for bank account transfer