PayPal problematic?
“If you use PayPal to shop online, then there’s a good chance that at some point you’re going incur some sort of monthly fee that is automatically charged to your PayPal account. This is usually the case when you sign up for some sort of online membership or subscription,” says Steve Wang, a certified financial planner who runs a career blog.
Businesses use this payment system to take advantage of customers who forget to cancel or simply never knew they were signing up for a recurring charge, he says. These fees run for an indefinite amount of time until you take the initiative to cancel them and can slowly eat away at your finances.
As for strategy, he says, “Always check your PayPal payment history. Chances are, if there’s something being charged on a weekly or monthly basis that you don’t immediately recognize, it’s a recurring payment. If you wish to cancel a recurring payment, there’s a user page within your PayPal account settings where you can manage all the recurring payments currently active on that account.”
