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| jeter4982 |
 Posted: Tue Feb 08, 2005 12:42 pm Post subject: PayPal |
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Investing Sr. Associate
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I am not sure if this really belongs here, or somewhere else, but here it goes.
Does anyone else here keep a large amount of money in a PayPal account? I believe they do offer interest, but I simply do not trust them. I do have a PayPal account, as it is necessary, for my business, and also great for eBay, but I have just heard so many horror stories about PayPal, that I am reluctant to keep much money in my account? Anyone else here have any opinions about PayPal??? |
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| MrInvestor |
| Posted: Tue Feb 08, 2005 1:52 pm Post subject: |
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Investing Manager
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It is a little scary, but they are FDIC "Pass through" insured...I'm not sure what that means exactly.
They actually hold your money in different banks"
"As of March 12, 2002, your available balance funds are held at the following institutions: Wells Fargo Bank, N.A., Comerica Bank - California, USA, and Bank of America, N.A."
Do you know what interest rate you get? |
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| jeter4982 |
| Posted: Tue Feb 08, 2005 1:59 pm Post subject: |
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Investing Sr. Associate
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I was unable to find out the exact interest, but I did find that it was a money market fund, and it requires your social security number, a credit card, and I believe you have to add a bank account.
Tom |
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| t4nk |
| Posted: Tue Feb 08, 2005 3:41 pm Post subject: |
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Investing Associate
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| i don't trust paypal that much either thats why when i can i transfer my money to my bank account i feel much safer |
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| ricky13 |
| Posted: Wed Feb 09, 2005 12:48 am Post subject: |
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New Poster
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| I have never liked paypal, but unfortunately in some situations i must use it. I would not trust them with bank account/credit card details. |
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| authorsweb |
| Posted: Wed Feb 09, 2005 1:56 am Post subject: Paypal |
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New Poster
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| I have a love/hate relationship with paypal.. I have used them for almost four years, and during that time have had accounts closed for no reason.. problems obtaining a response from them, and so on.. however since Ebay acquired them, I can honestly say I haven't had a single problem with them at all. So, fingers crossed that it remains that way.. |
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| ammo |
| Posted: Wed Feb 09, 2005 7:17 am Post subject: |
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Investing Sr. Associate
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| I had a large amount of money in my paypal account at one time (sigh, wish it still was large) and i never had any problems, before i sold my site i had means of up to $2000 going into my account at one time and i never had a single problem |
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| dc1pop |
| Posted: Wed Feb 09, 2005 8:30 am Post subject: |
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Investing Associate
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I use paypal but i never keep money in my account as ive heard many things like people's accounts being frozen for no reason and no warning gien.
I feel safer just to pay people using it and when i recive money with it i just ship it out the paypal by with drawing it. |
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| betrdanevr |
| Posted: Wed Feb 09, 2005 6:24 pm Post subject: |
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New Poster
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I've had a paypal account for several years and am very happy with them.
However, if I were admin of a program and it smacked at all of a ponzi, I would never use paypal. And anybody who gets a lot of complaints is probably headed toward getting their paypal account closed.
If one's account is closed for no reason, I don't know what to say.
Anybody here received a payout from the class action suit yet??? |
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| ricky13 |
| Posted: Thu Feb 10, 2005 12:53 am Post subject: |
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New Poster
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| Yeh, i hate the fact how paypal can just close your account just like that, without warning. And theres nothing you can do about it. |
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| foxnstocks |
| Posted: Thu Feb 10, 2005 1:15 pm Post subject: |
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Investing Sr. Associate
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| One site that I've found for online banking is www.ingdirect.com. They're currently paying 2.35% on their Orange Savings Account with no minimum balance, no fees and no automatic deposits. PLUS, if you open an account you will get an automatic bonus of $25 IF you are referred by an existing customer (like me). Send me a Private Message if interested after you check out the site. You can then also refer family members and they'll each get $25 and you'll get $10 for each one that signs up. Sweet! |
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| rlnlandal |
| Posted: Thu Feb 10, 2005 3:37 pm Post subject: |
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Investing Associate
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| I never keep money in my paypal account. I also don't have any credit cards or bank accounts attached, I get money form selling on ebay and that's the money I use to buy things. (Can you tell I have very little trust in them?) |
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| Aladdin |
| Posted: Thu Feb 10, 2005 4:00 pm Post subject: |
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Investing Associate
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| I have used paypal for years but try not to keep a large amount of money there. |
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| jstep |
| Posted: Thu Feb 10, 2005 4:12 pm Post subject: |
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Investing Associate
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| jeter4982 wrote: | I was unable to find out the exact interest, but I did find that it was a money market fund, and it requires your social security number, a credit card, and I believe you have to add a bank account.
Tom |
I personally take all of my money out into my own private (just for paypal + online stuff) asap It only takes 2-3 days to add it back, and their are no fees
I did not have to enter a social security to do this. |
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| InvestingMac |
| Posted: Thu Feb 10, 2005 5:45 pm Post subject: |
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Investing Manager
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Whenever I have a large enough amount of money in my PayPal I transfer it to my bank account.
I've never been particularly impressed with PayPal, but as many of you have found, it's almost a must in some circumstances. |
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