My son in law has read many reports of PayPal emptying bank accounts and it has made him nervous, so I searched the forum and found
Bank account tied to PayPal? Beware.
As a result I suggested that he remove his CC details from his PayPal account, and transfer the bulk of his bank account to his credit card account. Interest rates are pathetically low, so he will only lose peanuts, but if I am correct, he will save almost all of his money should PayPal decide as they have done to hundreds of merchants, to take from his bank account every cent they can.
It should also protect him from hackers who get into his PayPal account.
He could achieve the same result by opening another bank account, but the red tape with his bank is a real pain.
If anyone can see a flaw in my idea, please post a correction.
Walter
Bank account tied to PayPal? Beware.
As a result I suggested that he remove his CC details from his PayPal account, and transfer the bulk of his bank account to his credit card account. Interest rates are pathetically low, so he will only lose peanuts, but if I am correct, he will save almost all of his money should PayPal decide as they have done to hundreds of merchants, to take from his bank account every cent they can.
It should also protect him from hackers who get into his PayPal account.
He could achieve the same result by opening another bank account, but the red tape with his bank is a real pain.
If anyone can see a flaw in my idea, please post a correction.
Walter
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.