Thread: Paypal
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Old 01-04-2011, 01:29
HotBowMom HotBowMom is offline
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Join Date: Oct 2008
Posts: 248
Default Re: Paypal

Originally Posted by Blingmom View Post
I have to ask, why do people keep so much money in their paypal accounts? My brother is an artist and sells paintings and such, uses paypal to collect the monies, sometimes 3 and 4 thousand at a time and every single day he transfers his PP money to his bank account, I do this as well and have never been hacked.

If there's no money to spend there's nothing to steal.
Years ago it was highly recommended that you clean out your Paypal acct. every night but that was back in the day when Paypal would freeze your ENTIRE account when there was a dispute filed. Since they've lost their pants in lawsuits over this, they only take out the amount in question instead of taking the whole account so it's not 'necessary' to keep it empty anymore.

If I'm making a supplies purchase from a merchant who takes CC's, I like to use my PP funds through the debit card to get the 1.5% back. That means having several hundred dollars sitting there and sometimes it takes a while to build it up to where I can use it for a purchase.

But as pointed out above, even without having funds in the account, thieves can still use it and have the money removed from your other funding sources.
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