What is reasonable amount to leave in Paypal account?

kalsha

Just wondered how much money people left in their paypal account?
When a sale is made and payment received, do you transfer the amount to your bank account straight away?
Or do you wait till there is reasonable amount before you ask for a transfer?
Is there any harm in leaving any amount in the paypal ac?

soolin

I leave nothing in my PayPal, much as I defend them - I don't trust them.

I usually clear the account as soon as I have wrapped and dispatched the items, sometimes if I have a good balance I may even clear it twice a day rather than leave it in there.

kalsha

soolin, there must be a bank account that is linked to paypal, so if there is a problem or chargeback or whatever, can't they just take it off your bank account?

marie-20

Ahhh you see I'm lazy and just leave our business money in Paypal - I generally withdraw it every 2 -3 weeks when we get to around £5 to £6K but then I do buy a few bits and pieces for the business from suppliers that take Paypal payments and I pay our fees daily as I hate to see a £600 bill waiting to be paid.

That said eBay is the smaller selling venue for us and whilst it is handy for quick easy cash flow I don't have to have it.

heman2012

Always leave a small amount in paypal, do not clear it completely.

Paypal can limit your account at any time for any reason, if this happens they keep all funds in your account for 180 days.

Why leave 5-6k in there and risk losing it for 6 months!

techspec

marie-20 wrote: »

Ahhh you see I'm lazy and just leave our business money in Paypal - I generally withdraw it every 2 -3 weeks when we get to around £5 to £6K but then I do buy a few bits and pieces for the business from suppliers that take Paypal payments and I pay our fees daily as I hate to see a £600 bill waiting to be paid.

That said eBay is the smaller selling venue for us and whilst it is handy for quick easy cash flow I don't have to have it.

Paypal recently closed someones account for leaving money in. They now cannot touch it for 6 months.

Paypal consider leaving more than £1000 left in as a bit strange. They used to email you telling you your money was not safe and should be removed. This was done at the £1000 mark. They do not do this now.

I would say leaving anything over £100 in is madness. Like Soolin, i remove any money at the earliest convenience.

bxboards

heman2012 wrote: »

Paypal can limit your account at any time for any reason, if this happens they keep all funds in your account for 180 days.

Which is a very good reason NOT to leave any money in there!

soolin

kalsha wrote: »

soolin, there must be a bank account that is linked to paypal, so if there is a problem or chargeback or whatever, can't they just take it off your bank account?

It is difficult, if not impossible for PayPal to take money from a connected bank account.

However none of that matters really as if I can't defend a chargeback for whatever reason I would need to add funds to my PayPal account to cover the debt anyway.

eaglesrjh

I generally leave a couple of hundred in to cover for purchases as i'm buying from ebay constantly.

or do you guys fund every purchase from a bank account??

soolin

eaglesrjh wrote: »

I generally leave a couple of hundred in to cover for purchases as i'm buying from ebay constantly.

or do you guys fund every purchase from a bank account??

I prefer to stay in control, so yes if I wanted to buy something I would actually fund it via a credit card or possibly my bank account.

baffcat

I clear mine most nights, though if I'm going to be spending through paypal, I leave the amount I intend spending in there. Really I should still take it all out to buy using my paypal-linked credit card, for the protection and Tesco points.

A club I'm involved with leaves its money in there for months. £18k was in there until last weekend. :eek: Stupid and ludicrous really.