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QueenJess wrote: »

I obviously less trusting as I remove the money immediately! I transfer it into my own separate account for earnings so I can see what I spend it on (makes me feel psychologically better!)

I'm off to look into a new account now! I can't leave it in my usual accounts as it's too easy to spend!x

Aesop wrote: »

. now to get ebay on board with using circle

That will never happen, isn't one owned by the other? (PayPal and eBay)

If it goes by withdrawing too often then I'm probably in danger because I withdraw tiny amounts sometimes, better in my account than theirs I always think

Aesop wrote: »

Yes eBay and PayPal split company a few years ago. Probably why we get charged for postsge fees on eBay.

The way I see it PayPal is a conduit. It does own my money and should not encourage me to keep it in their account to spend online.

Well it's basically like a credit card. These days you can even get Paypal financing! Geek moment.. but it isn't a bank and payments from customers in individual statutory company account are treated akin to a credit card rather than a bank account (i.e. it isn't your cash until you receive it and is shown as a creditor).

This is how I consider it - they want to make cash from you by number of transactions and hopefully by you taking up its new financing deals just like a credit card. Unless you spend lots and lots of money with them they probably don't care much about you. As with a credit card where I pay it off every month even though I am sure they want to suck you in (and I am sure I am the only person who rings up and asks them to reduce my credit when they try to increase it), I also take my funds out of Paypal instantly to ensure it isn't lost somewhere.

I still don't understand how they comply with the money laundering rules as you can apply for an account so quickly. Maybe they make certain checks on you... I have never looked into it, but I know one of my friends had his account limited as they wanted to see identification info. Why they hadn't done that before I have no idea.

That's why competition can be helpful as that will be the only incentive to increase any customer service that they have and keep fees from becoming too silly. I am sure you can get funds back from them since it isn't actually theirs and they should be holding that cash in a separate account as it is client money (I presume similar to legal funds etc), but I am also sure they could make it very difficult for you.

Sorry for the ramble... just interested my inner geek! Let us know how you get on Aesop.

Aesop wrote: »

PayPal have limited my account so I can't withdraw anything from it.

Thats ridiculous!! Its just going to make people withdraw more frequently as the last thing you want is to have loads saved in there and not being able to access it. :eek:

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