I understand your concern, but I think you're mistaken about the way it functions. Paypal isn't a bank; it's more like a clearinghouse. In almost a decade I've never had a single thing happen with my money beyond the occasional dispute, one of which paypal reimbursed me for half of and the other they actually won for me on my behalf.
I empty my paypal account on a frequent basis. Most people do. Occasionally I'll leave a small balance in there to cover my ebay fees (billed through paypal) or to buy a few things here and there. It's not like a bank - you don't accrue interest. They're not reinvesting your money while you hold a balance in there. They don't cover transactions - if you do not have a balance then the seller has to wait for the buyer's money to clear from the associated account. If you withdraw into your bank, likewise it takes 48 hours or so.
I'm not saying there aren't problems surrounding its relationship with ebay, but I don't think your concerns are relevant.
If you're worried about it, open a new bank account just for Paypal and keep the balance near zero.
Lowers your risk.
This IS ABSOLUTELY KEY. And once the money goes in, take it out.
On a sidenote, up here in Canaduh the government has just gained access to ALL e-bay accounts of anyone who's a powerseller....it's e-bay audit time and Heads are Gonna ROLL. They've been trying for a while and E-bays finally given in... And Paypal's their perfect record keeper. No well concealed ca$h please.
If you're worried about it, open a new bank account just for Paypal and keep the balance near zero.
Lowers your risk.
This IS ABSOLUTELY KEY. And once the money goes in, take it out.
On a sidenote, up here in Canaduh the government has just gained access to ALL e-bay accounts of anyone who's a powerseller....it's e-bay audit time and Heads are Gonna ROLL. They've been trying for a while and E-bays finally given in... And Paypal's their perfect record keeper. No well concealed ca$h please.
This is the real......you better be claiming and paying taxes on your Ebay/Paypal income....if you think you hate them now, just wait a year or two if you're the guy thinking you're flying under the radar.
Comments
This isn't hard to understand......or avoid.
Get a Paypal debit card set up and withdraw your cash once a week.
Keep less than $100 in your account at all times...it's not hard.
And then when Paypal hits the skids and steals all of it's users money(which is inevitable.....or not) you'll be out less than $100 at best.
I empty my paypal account on a frequent basis. Most people do. Occasionally I'll leave a small balance in there to cover my ebay fees (billed through paypal) or to buy a few things here and there. It's not like a bank - you don't accrue interest. They're not reinvesting your money while you hold a balance in there. They don't cover transactions - if you do not have a balance then the seller has to wait for the buyer's money to clear from the associated account. If you withdraw into your bank, likewise it takes 48 hours or so.
I'm not saying there aren't problems surrounding its relationship with ebay, but I don't think your concerns are relevant.
This IS ABSOLUTELY KEY. And once the money goes in, take it out.
On a sidenote, up here in Canaduh the government has just gained access to ALL e-bay accounts of anyone who's a powerseller....it's e-bay audit time and Heads are Gonna ROLL. They've been trying for a while and E-bays finally given in... And Paypal's their perfect record keeper. No well concealed ca$h please.
This is the real......you better be claiming and paying taxes on your Ebay/Paypal income....if you think you hate them now, just wait a year or two if you're the guy thinking you're flying under the radar.
Trust me - I've already had it happen once.