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With Paypal's history, I normally keep clearing them to my bank as they keep reaching a certain limit of say $1000. I mean I know it is stupid and misses the en
by tuhin 16y ago
With Paypal's history, I normally keep clearing them to my bank as they keep reaching a certain limit of say $1000. I mean I know it is stupid and misses the entire point of Paypal, but I would rather do this than my account being frozen.
- mixmastamyk 16y ago1000? How 'bout a hundred?
- tuhin 16y agoSorry if that sounds being paranoid. I normally use Paypal to handle client payments for mu UI design stuff and hence they are not normally in the range of $100 (thankfullly). :)
- mixmastamyk 16y agoI meant that I would not trust paypal with amounts over 100, and would transfer amounts over that quickly.
- floatingatoll 16y agoAfter you clear to the linked bank account, you need to be sure to move the money into a second account, as they are permitted by the terms of service to attempt to withdraw from your linked bank account any and all money they deem necessary up to the total amount received for all transactions for a good deal of time. I strongly advise you link a non-primary account for this reason.
- tuhin 16y agoOh! I did know that but never looked at it from that angle. Thanks for the reminder.
- slater 16y agoWouldn't they just attempt to withdraw it from a now empty bank account, leaving you with overdraft fees? EG let's say you have $100 in your paypal account, which you send to bank account A. From there, you send it to bank account B, leaving bank account A empty. Paypal decides to withdraw $100 from bank account A, leaving you with -$100 on A, and $100 on B?
- michaelcampbell 16y agoI /think/ this may depend on the mechanism used to move the money. Do ACH transfers incur NSF/Overdraft fees, or do they simply get rejected?
- gclaramunt 16y agoIs it's a big US Bank, assume you'll always get hit by some fee...
- nkassis 16y agoYes, it's similar to a check at least that what I understood from my bank when it happened in the past.
- tuhin 16y agoCould someone with a deeper knowledge on this comment on if this is possible or the clauses around it?
- JoshTriplett 16y agoBanks don't do negative balances. Some banks will automatically turn overdrafts into loans or withdraw them from another account, to prevent you from having a withdrawal or debit denied, but you can generally disable that "feature". In the absence of that, an attempt to withdraw more than an account contains will result in a denial of the withdrawal and possibly a fee (either to the withdrawer or the withdrawee or both, depending on the circumstances and what the bank thinks it can get away with). In any case, moving the money to an account PayPal doesn't have access to puts you in the much better position of PayPal having to ask you for money, rather than you having to ask PayPal to give your money back. At that point, at most they can lock your PayPal account (which still screws you out of any more donations made before you can say "stop sending money to this PayPal account, you're donating to PayPal").