money stored in paypal

angchris

as a seller on ebay i use paypal as do most people selling on ebay, i have just looked at my paypal account and it has been a few quid under the £50 you need to withdraw it for free for months... now this is really starting to bug me as why should i have to pay 25p just to withdraw my own money!!:mad: :mad: after thinking about it of course paypal/ebay want you to leave it in their "care" as i`m sure there is millions tied up somewhere and they are obviousely making a nice tidy profit off of us in interest:mad: :mad: am gonna have to find something to sell pronto just so i have the satisfaction of not paying 25p and getting the interest on my money in my bank account!!
ok rant over just had to moan

Tirian

Yeah, I've had the same situation in the past. But to be honest, 25p is really a pittance - and unless you're selling something very soon, it's probably better to pay the 25p and get the money safe in your bank, than leave it in Paypal where any scamster can get their hands on it with a false chargeback.

angelcake

how are they charging interest?? I think they only charge fees and thats it?

I have £5000 in mine!!!....... yeh just kidding!! I have about £60

aeuerby

I think angelcake, what the OP means is the money is sitting in Paypal's bank account earning interest rather than in the OP's bank account. Paypal afaik don't charge interest.

I too think it's wrong for paypal to charge to withdraw under £50 - especially when it is free for any amount to US bank accounts.:mad:

Hintza

I suspect it will be to cover charges levied by our antiquated banking system that still takes days to process electronic payments as if they were still cheques 30 years ago. I my view it is the banks that are taking the mick.