PayPal issues- need some serious advice

pawel1979

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Wyniki tłumaczeniaTłumaczenieI need advice. About a month ago, PayPal significantly restricted my ability to use my balance after I bought something from an online store, explaining that an automatic security gateway for payments had worked and that it was supposedly a system error. After a few phone calls and explanations, everything was solved / fixed, but many people advise me to run away from PayPal. They recommend Transferwise, or Wise. Does anyone use Wise and can tell me if Wise is really as great as people who are dissatisfied with PayPal have described it to me?

Secondly, I have a lot of cash saved on PayPal, and I would like to transfer them to another platform relatively quickly. I have received these payments on PP over the course of a few years, mostly in the form of friends/family, so I do not have any tangible income, that this is money earned somewhere, etc. Do platforms like Wise not ask in the case of such transfers (especially when they concern larger amounts) where and how we came into possession of such money?

The point is to not turn out that something outside Paypal will be even more difficult than PayPal itself. Ultimately, I will want to transfer this money to my bank account, but this will probably involve paying some bigger tax, so first I wanted to investigate other alternative possibilities to PayPal.

Oh BTW, I am based in Poland, EU so this may vary from US law a bit. However, it seems like every online cash platform is about the same regarding its policies and money transfers.

Thx a lot,
Paul

Zanderman

Your post is a little confusing - and your opening words Wyniki tłumaczeniaTłumaczenie, which are Polish for 'translation results' might suggest why!  

It is not clear from your initial paragraph what your problem actually was. 

Your second para about having a lot of money in PayPal suggests you should get a bank account!  Keeping a large balance in PayPal is not a good idea!

Your final para saying you're in the EU and that US laws may differ suggests you think this forum is a US site. It isn't. It's a UK site.  But wherever you are it is your local laws, and taxes, that will apply.