This week has not been the best in the history of Paypal. They have been experiencing technical issues all week, and I keep wondering if this means that they have been hacked. Paypal is probably the leading payment instrument online, and millions of people around the world use them. They process billions of dollars of transactions every year, and for your convenience, you only need a user name and password to log in.
Yes, it great to be able to sign up for Paypal, and buy stuff from thousands of websites such as Ebay. You can link your bank account and credit card, and if you work online, it is also the best way to receive payments. The balance on your Paypal account can be used to pay for purchases, and normally the Payal service is very quick and covenient. This week something went wrong and Paypal has not explained what happened. Perhaps if they were to do that, they would make their millions of users feel like valued customers instead. After all, we all pay them commission to use their services.
If you are a Paypal account holder, it could be a good idea to change your password every so often. Make sure that you do not use your Paypal password on any other websites and certainly do not link it you your email. Hacking email accounts can give hackers all sorts of information.
Also, it could be a good idea to keep a separate email account for Paypal. That is what I do, and it allows me to monitor activity. Sometimes, you do get emails that look like them have come from Paypal, but in fact, they are from hackers. If you suspect any kind of that activity, you should report them to Paypal straight away. They normally respond quickly and at least you will know what is going.
There are rumors that Paypal are planning to turn themselves into a major global bank, and financial player. That could very well be true and they are already offering a Paypal debit card that you can use in many countries around the world. Any payments are debited from your Paypal balance. So far, the system is working well. However, it makes me wonder what other products they are planning on launching.
As always, keep on eye on currency exchange rates and make sure that you do get the best deal. The commission can be high as well, so you need to watch that and monitor the exhange rates at the same time.
After all, there are other payment systems out there, and it could be woth checking out companies like Skrill. Remenber that many currency transfer companies can help you with prepaid debit cards. It could be worth contacting your local currency transfer or expat foreign exchange service as well. I swear by my prepaid debit cards when I travel, and I do not go anywhere without them.
Of course, you should keep on an eye on your money with all banks and online services. Make sure that you save money and geta 5 star service with your bank or FX provider. Don't be afraid to say no, it is your money at the end of the day.