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If you have to use PayPal: regularly transfer any money to an actual bank with actual responsibilities, not some fake holding bank registered in Ireland or what
by revelation 14y ago
If you have to use PayPal: regularly transfer any money to an actual bank with actual responsibilities, not some fake holding bank registered in Ireland or whatever PayPal is using today to evade tax and consumer laws.
You are not getting interest by letting that money sit with PayPal.
- nonamegiven 14y agoYou're also not getting principal by letting that money sit with PayPal.
- Centigonal 14y agoI think you flipped principal and interest there.
- preinheimer 14y agoPayPal allows itself to pull money out of a bank account associated with the account as required.
- mylittlepony 14y agoI'm not sure I got you. Are you saying Paypal can withdraw money from your bank account?
- ComputerGuru 14y agoYes. The real solution is to have two separate, linked bank accounts, only link one of them to PayPal. Set PayPal to sweep into bank account A daily, and then have your bank set up an automatic sweep from account A to B either daily or as it reaches a threshold. However, even if you don't do this, PayPal transactions are via ACH (actually, this isn't a PayPal-only thing - technically anyone with your ACH account info (the stuff at the bottom of your checks!!) can push/pull money into/from your account, it's the nature of the beast) and that has many failsafes and undos available, though it is a real PITA.