In certain countries they fall under quasi-bank regulations eg. “PayPal Australia Pty Ltd (PayPal) is a limited Authorised Deposit-Taking Institution (ADI) with authority to provide purchased payment facilities (PPFs).”
That gives some measure of protection on how they handle your funds, but holy shit I would not keep any money in a PayPal account for any longer than absolutely necessary. I use it as a convenient intermediary between my actual card and sellers, no more than that.
PayPal is not customer friendly, they also straight up steal funds by locking your account
Yeah, it’s wild how close PayPal came to killing Minecraft early on by locking all of Notch’s money as soon as MC started to take off.
PayPal is not a bank. Your funds are NOT FDIC insured, no matter what their docs say.
In certain countries they fall under quasi-bank regulations eg. “PayPal Australia Pty Ltd (PayPal) is a limited Authorised Deposit-Taking Institution (ADI) with authority to provide purchased payment facilities (PPFs).”
That gives some measure of protection on how they handle your funds, but holy shit I would not keep any money in a PayPal account for any longer than absolutely necessary. I use it as a convenient intermediary between my actual card and sellers, no more than that.
PayPal is a class corpo parasite. They tax us
What to expect from the Musky one and the Vampire?
Yep, happened to me. They’re evil. They own Venmo too btw.
So glad that eBay (as greedy as they are) started handling transactions instead of everyone using PayPal.