posted on March 20, 2002 06:01:32 AM new
I've read so many posts about people with thousands of dollars in a Paypal acct getting thier accts frozen/restricted. My question is..why would anyone keep that kind of money in a virtual payment service? It's not even a bank for Pete's sake. Why dont people just transfer Paypal funds into a REAL bank? I never keep more then $50 in my Paypal acct.
MEOW
posted on March 20, 2002 06:09:12 AM new
folks may be going thru divorce,may be deadbeat dad when it comes to child support,could owe IRS tax dollars,could be fugitive,may want to use it to pay others.
read all the prior threads and get some idea -ease of use,money available immediately after payment received.
read prior post of a canadian whose account was locked up because he wants money to be transfered to his sister account in usa to save bank charges on foreign exchange.
foreigners may see paypal as a way to hoard us dollars without govt knowing about it.
to each his own,there is a lot of money changing hands in cyberspace
posted on March 20, 2002 06:19:17 AM new
I guess that is a good reason why some of the people do it..but most who keep that amount of funds are not deadbeat dads or fugitives. What I'm trying to say after all the freezing of accts you would think people would wise up. I used to keep several hundred dollars in Paypal myself but felt uneasy after hearing about lawsuits and such.
MEOW
posted on March 20, 2002 06:24:59 AM new
i used to keep between 3-4 thousand in theit was planning on using it towards an engagement ring because good place for my girlfriend not to see the spare $$$$ no statements nothing....well yip you guessed it someone hacked in and stole all the $$$...account frozen and 3 months of sweating it out until i eventually got it back....thats the only reason i started reading about all these posts by doing a search on google.com whilst waiting for my cash
posted on March 20, 2002 07:34:37 AM new
someone once said a secret is a secret if only one person knows of it.if there is more than one person who knows it,it is no longer a secret.
lock up your keyboard,pc,laptop ,scanner and camera and books you scribble passwords,url etc.
dont brag about your cybersales,dont tell anyone your travelling plan if you can help it.
posted on March 20, 2002 07:40:34 AM new
if you are doing a brisk sales in cyberspace,your vendors expect you to pay fast,and paypal is a good way to send payment.
many sellers use dropshippers,many electronic sellers do not have the goods on hand and once they get paid via paypal,they are expect to ship(cc payment should be within 2 days),so they could use paypal to send payment immediately and dropshipper will ship same or next day.
read a new post on a student who has his 7000 dollars account locked up,i bet he sells electronic goods which he does not have on hand.
big bucks change hands daily in cyberspace,a few thousand is nothing,try five figures in some transactions
posted on March 20, 2002 07:49:33 AM new
yip i learned me lesson dont trust online companies as much as i used to...before i would order from anywhere without caring after some bad experiences only trust amazon, ebay, half etc reputable sites that been around for long time.
posted on March 20, 2002 08:47:21 AM new
To add to stopwhining's post...If you are using the debit card to pay your vendors you obviously need a balance in order to receive the 1.5% cashback from PayPal.
posted on March 20, 2002 09:27:26 AM new
As a vender I do about a thousand dollars of business per day. That's why venders keep soo much money in Paypal. When you deal w tight margins you have to move that type of money daily to make one real paycheck.
