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PayPal shuts down Hackers For Charity

51 pointsby fossguyalmost 16 years ago

7 comments

HeyLaughingBoyalmost 16 years ago
Going against the tide here...<p>Although this is about PayPal, any bank would probably respond the same way. Try depositing a check made out to your business into a personal account. Most banks will simply refuse to do so. You can go into the bank and show tons of documentation that you own the business AND if it's an emergency AND you get the bank manager involved they may bend the rules, but usually it simply won't happen. Trying to resolve that over the phone? Forget it.<p>What this guy is doing (HFC) is a great cause, but the entrepreneurs out there should read this as a cautionary tale. It's because of stuff like this that we need to get our business finances set up properly from the beginning. A few minutes spent filing paperwork a year ago would have prevented all his problems.<p><i>Banks (yeah, I know PP isn't a bank) don't screw around!</i>
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bclalmost 16 years ago
That's a pretty sad story. I thought everyone knew not to keep money in their PayPal account? As soon as I get a payment I transfer it out to my bank.
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TrevorJalmost 16 years ago
It really seems as if PP has taken a turn for the worse lately. My only experience with them was a few years ago when I had a problem with someone accessing my account fraudulently. They where easy to get ahold of and proactive. A shame that doesn't seem to be the case any longer.
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elialmost 16 years ago
So if he's not a 501(c)3, how exactly was he going to account for all this money with the IRS?
theklubalmost 16 years ago
I think its time for a good alternative. I mean I know there are some out there but what else has market?
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yanalmost 16 years ago
For those who are unfamiliar with Johnny, check out recordings of his talks. "Low-tech hacking" (or similar title) was a beautiful talk, entertainingly delivered. He's working on different purposes now, but he contributed a lot to the security industry and an all-around great guy.
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dmmalmost 16 years ago
Don't trust anybody with your money that you can't physically shake your fist at. It keeps them honest.