They can "freeze" the account becasue well they feel like it.. read the Terms of this account - paypal has absurd rights to do what ever it is they want with the money once on deposit.
I can not find a way to change in the "profile" if there is a way Chinaboy it is
thetrump
Senior Member - 1K
posted: Jul. 13, 2005 @ 1:44p
WhiteGuy said: They can "freeze" the account becasue well they feel like it.. read the Terms of this account - paypal has absurd rights to do what ever it is they want with the money once on deposit. While this used to be more of a risk, recently I have not heard any reports of accounts being frozen. With talk of Google starting their own payment service I think PayPal will be on their best behavior.
EvuLFleA
Ancient Member
posted: Jul. 13, 2005 @ 1:56p
thetrump said: WhiteGuy said: They can "freeze" the account becasue well they feel like it.. read the Terms of this account - paypal has absurd rights to do what ever it is they want with the money once on deposit. While this used to be more of a risk, recently I have not heard any reports of accounts being frozen. With talk of Google starting their own payment service I think PayPal will be on their best behavior.
You haven't heard because you spend time in this forum where people actually have a brain. Nobody is dumb enough here to keep their money w/PayPal.
A friend who works for D3LL had his account frozen with almost $10k sitting in there. He kept that account with money in it so that his wife wouldn't know about it. I think it took almost 2 months to get his money back. He had to prove it wasn't being used for illegal activities and all sorts of other crap.
I sold a diamond ring on eBay - lady told paypal she never got it - account frozen with $250 in it - paypal said "Buyer protection, it does not matter what you do she is protected"
Note that PayPal does not promise a return, but instead posts it's current rate ... I was starting to think that the rate had stayed the same or maybe even gone down a little since they usually post it soon after the first of the month, this month they took a bit longer ... certainly there appears to be no reason they should have, the rate went up .22% in one month, that's pretty good!
LordBricks
New Member
posted: Jul. 13, 2005 @ 6:53p
WhiteGuy said: I sold a diamond ring on eBay - lady told paypal she never got it - account frozen with $250 in it - paypal said "Buyer protection, it does not matter what you do she is protected"
this was 2 months ago
I had the same issue when i sold a PDA, buyer said they never received it even though i proved delivery with a tracking number and i was out $400.
As for the money market, i have kept money in there for some time now and no freezing has occured.
didYOUsearch
Cranky Member
posted: Jul. 13, 2005 @ 10:33p
guoyingzi said: You get 3.22% or -100%.thats the correct answer. No one who follows this forum is stupid enough to keep any balance in PP account. They are not a bank and do not abide by any banking regulations.
I dont care if they were paying 10% I would not put any money there.
mindlessrobot
New Member
posted: Jul. 13, 2005 @ 10:38p
I keep about $300 in there, basically budget my eBay dvd/cd purchases that way.
I make about $250 in interest and Cash Back per month with my Paypal balance.
Am I scared that they might limit/close my account? No!
They tried to **** with myself and a few other business associates a few years back. I can't really say much about it, but I can tell you that they payed dearly and I am assured of no future problems out of them.
LordBricks said: WhiteGuy said: I sold a diamond ring on eBay - lady told paypal she never got it - account frozen with $250 in it - paypal said "Buyer protection, it does not matter what you do she is protected"
this was 2 months ago
I had the same issue when i sold a PDA, buyer said they never received it even though i proved delivery with a tracking number and i was out $400.
As for the money market, i have kept money in there for some time now and no freezing has occured.
why don't you immediatley transfer the money to your bank after receiving it? Leave the balance in paypal zero, and if the buyer claims wrongly that they didn't receive the item, paypal can't freeze your acct since there is nothing there...
didYOUsearch
Cranky Member
posted: Oct. 6, 2005 @ 2:57p
DPG said: I make about $250 in interest and Cash Back per month with my Paypal balance.
Am I scared that they might limit/close my account? No!
They tried to **** with myself and a few other business associates a few years back. you could have made more interest at real banks that DONT f^^^ with your money.
Has anyone moved a large amount of money (~30K+) thro them?
Presidential ==>(pull) PayPal (push) ==> HSBC
Cheap
Senior Member
posted: Jan. 11, 2006 @ 3:03p
Just to be clear:Unlike checking accounts, money market funds are neither insured nor guaranteed by the FDIC or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 USD per share, it is possible to lose money by investing in the Fund. Distributed by Funds Distributor, Inc. To learn more about the Fund and its expenses, read the prospectus carefully. linky with disclaimer and rate info from paypoo itself
mothra0
Happy Member
posted: Jan. 12, 2006 @ 1:02a
ramganesh said: Has anyone moved a large amount of money (~30K+) thro them?
Presidential ==>(pull) PayPal (push) ==> HSBC
Yup, I recently transferred $29k into Paypal from Washington Mutual. I noticed to it took one day longer than a small transfer. No problems here. Just remember not to do any eBay transactions with an account with that much money in it.
AugustFour
Senior Member - 1K
posted: Jan. 18, 2006 @ 2:56p
PayPal MM now 4.3%.
AugustFour
Senior Member - 1K
posted: Feb. 1, 2006 @ 3:09p
eBay's PayPal to Collect Fees on Fund Deposits From Reuters
February 1, 2006
eBay Inc., the online auction house, will start collecting a fee to manage money deposited in its PayPal Money Market Fund, the San Jose-based company said.
PayPal, an electronic payment service with some 87 million customers in more than 40 countries, sweeps funds that customers keep in their accounts into the money market fund.
The company pays a seven-day average yield of 4.38% on money in those accounts. That is the highest rate of any money market fund in the United States, said Peter Crane, managing editor of IMoneyNet's Money Fund Report.
sorry to bring this up again,but i just signed up for the money market thing and transferred three hundred bucks into it.i dont sell anything on eBay and figured the five percent was pretty good.anyone else have a better idea with such a small balance? i figure paypal is safe since i dont sell anything.comments?
lakino
Thrifty Member
posted: Aug. 6, 2006 @ 3:59p
bbyf16 said: sorry to bring this up again,but i just signed up for the money market thing and transferred three hundred bucks into it.i dont sell anything on eBay and figured the five percent was pretty good.anyone else have a better idea with such a small balance? i figure paypal is safe since i dont sell anything.comments?
HSBC direct. 5.05% APR
Just like INGDirect
SlimJr
Senior Member
posted: Aug. 6, 2006 @ 4:03p
bbyf16 said: sorry to bring this up again,but i just signed up for the money market thing and transferred three hundred bucks into it.i dont sell anything on eBay and figured the five percent was pretty good.anyone else have a better idea with such a small balance? i figure paypal is safe since i dont sell anything.comments?
PayPal is about the worst place you can keep your money. I can see using them for online purchases but if you aren't getting that benefit what is the point of using it? You do not get all of the protections of a federally regulated bank. You say they are giving you 5%? You can get 5.15% at Emigrant Direct with no minimums and 1 day transfers.
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