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Paypal Warning

February 11th, 2014 at 05:22 am

MyMoneyBlog had a Paypal warning today. Yikes!

[url]http://www.mymoneyblog.com/preapproved-payments-paypal....

"Long story short, it was my Skype account that was hacked. I didn’t even know this, but PayPal has a program of “preapproved” payments where a merchant can repeatedly charge your account without the need to type in your PayPal password. This is meant for monthly subscriptions and the sort. Although I have bought credit from Skype before, I don’t ever recall signing up for any of these subscription-style plans at any merchant. My suspicion is that it was buried somewhere into a default checkbox that I didn’t undo, or worse it was just hidden in the terms and conditions fine print. (I am usually really careful about this sort of thing, so I am quite mad at myself!)

Lesson #1: If you use PayPal at all, check your preapproved merchant list immediately. To find this list, log into your account and then go to My Account > Profile > My preapproved payments. My recommendation is to make every single one inactive immediately."

2 Responses to “Paypal Warning”

  1. creditcardfree Says:

    I JUST read that and quickly went in and inactivated four preapproved merchants. I didn't have Skype, but ProFlowers, Angie's List and two ebay payments. Thanks for posting!

  2. starfishy Says:

    thanks for this! i checked and don't have any preapproved merchants even though i do have an autopay to skype monthly thru paypal (2.99/month for all voicecalls). weird!

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