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How much $ would you leave in your paypal account?

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Originally posted by: RossMAN
First of all I would recommend reading Paypalsucks.com

Please remember that Paypal is NOT a bank and it is NOT FDIC insured. So if they were to go out of business, you would probably lose everything.

Personally I keep $50 or less in my Paypal account. When I was more active selling on eBay, I would have $5,000 - $10,000 in my account.

I asked my credit union to open a new checking account which I use solely for Paypal transactions. The credit union had no problems doing this and it only took 30 seconds over the phone.
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For PayPal to go out of business it would require eBay to go out of business. Moreover, PayPal does place your money in an FDIC-insured bank -

Text
 
paypal let's people with bank account with no CC use it like CC. You pay them for the convenient and their not their to take your money for nothing thought. w/out them you have to run to the bank to deposit a small check/mo every few days 🙁
so, their fee is a little high but no one works for a small meal
 
i had almost 500$ in my account last week after selling three video cards, i took all the money out as soon as possible after hearing stories about fraud and chargebacks.
 
I clear my paypal whenever it is over $50 although I like to keep it at zero so I will clear it out ASAP. Money in the bank is better. 😀
 
Originally posted by: cw42
i had almost 500$ in my account last week after selling three video cards, i took all the money out as soon as possible after hearing stories about fraud and chargebacks.
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What good does it do since paypal is god and can at anytime debit your cc or your checking account if they feel you are a crook.
ASAP? lol, you don't like paypal hanging onto your money, don't ya? 😀
btw, if you have a few grand, withdraw most of it to paypal so that they will act as a bank and your bank will act as your broker 🙂
 
Originally posted by: RobCur
Originally posted by: cw42
i had almost 500$ in my account last week after selling three video cards, i took all the money out as soon as possible after hearing stories about fraud and chargebacks.
Click to expand...

What good does it do since paypal is god and can at anytime debit your cc or your checking account if they feel you are a crook.
ASAP? lol, you don't like paypal hanging onto your money, don't ya? 😀
btw, if you have a few grand, withdraw most of it to paypal so that they will act as a bank and your bank will act as your broker 🙂
Click to expand...

WTF?

You are the new Ducknuts.
 
Nothing now, or ever again. After I got scammed with a chargeback for $1k I'll never use pos paypal again.
 
Originally posted by: Spudd
$0.00
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smart move, but did you know that they can debit your account without your permission if money is owed to them? unless your account is empty and you have set not to overdraft money, you're so OOL 🙂
 
Theoretically I would leave unlimited. They are owned by Ebay and not gonna do anything stupid with it. Realistically though, I don't buy/sell enough goods to have more than a few hundred in there.

-Phil
 
I traditionally don't leave any in there, but I have a PayPal debit card now, so I might start using it to get half of my paypal fees back ...
 
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