Paypal B.S.

Beachbum

I paid a seller last week on 2/11/04 using an e-check because he doesn't accept credit cards and my Paypal balance was too low.

I checked my account today on the ATM and saw that the funds were withdrawn on 2/13/04 from my linked checking as an "authorized transfer".

That was FOUR days ago.....checked Paypal and activity says funds used are "uncleared"....Hmmmmm

In the real world, that is called "kiting" and we would all go to jail. Commercial banks are exonerated from prosecution for using our money in what is called the "float".

I didn't realize Paypal was playing these games as well. I call it B.S.

KallMaloneSay

Paypal can do whatever it wants with your money and both Topps and Upper Deck are allowed to charge 2% credit card processing fee while if we do it is illegal. Crime pays at the corporate level.

BigKidAtHeart

paypal is also not a bank
and your funds with them are not
FDIC insured.

Beachbum

If Paypal is not a commercial bank, how do they get away with delaying transfer of funds?

Parenthetically, they officially cleared funds TODAY...5 days after they received it from my Bank !