Interesting article about "What Paypal Does With Your Money"...

Comments

• BECOKA Posts: 16,961 ✭✭✭

  February 26, 2008 3:36AM

  Interesting. I wonder what the transaction amount is that will be held?
  
  Also they talk about an optional Pay-pal fund that you can earn interest on. This seems silly as it is setup by default and most people don't realize that there is risk keeping their money in Pay-pal this way. If that fund loses money so does the money in peoples account.

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• rgCoinGuy Posts: 7,478 ✭

  February 26, 2008 3:38AM

  
  
  << <i> Hopefully this is not old news.
  
  >>
  
  
  
  
  

  Quid pro quo. Yes or no?

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• Longacre Posts: 16,717 ✭✭✭

  February 26, 2008 3:43AM

  
  
  << <i>
  
  << <i> Hopefully this is not old news.
  
  >>
  
  
  
  
  >>
  
  
  
  
  Is it? I don't read Paypal and Ebay threads here, generally.

  Always took candy from strangers
  Didn't wanna get me no trade
  Never want to be like papa
  Working for the boss every night and day
  --"Happy", by the Rolling Stones (1972)

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• rgCoinGuy Posts: 7,478 ✭

  February 26, 2008 3:45AM

  That's why I was laughing, I remember your last ebay post, and your rules against opening ebay posts. FYI, this is another of the changes that ebayers aren't liking, even though it for the most part only will affect new sellers.

  Quid pro quo. Yes or no?

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• Deadhorse Posts: 3,720 ✭

  February 26, 2008 4:07AM

  You gotta love these two quotes from the article;
  
  "However, company executives and industry analysts say the money PayPal makes off such payments has a negligible impact on its bottom line."
  
  "Money's definitely being made on the float, but is that the purpose at the end of the day?" said Quarles, who covers eBay. "Our sense is it's not necessarily material in its contribution."
  
  Good Lord!!
  
  Just how stupid do they think the public is??
  
  Since it's NOT the money, then they should certainly return any interest made on the funds being held.
  
  I'm not holding my breath on that ever happening.
  
  As far as it only being a small percentage of purchases that are considered risky, what is it now, 5%?
  
  I'm betting that number rises to 20% in no time at all.

  "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
  John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff

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• AbesNeighbor Posts: 705

  February 26, 2008 4:27AM

  I can tell you that I used to be upset with the high PayPal fees until I paid $944 for a coin I was never mailed. PayPal stepped up and reimbursed me for the $944. Now I don't know whether PayPal paid, E-bay paid or the seller paid... But, I was glad to have my money back.

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• ricko Posts: 98,724 ✭✭✭✭✭

  February 26, 2008 5:19AM

  " PayPal stepped up and reimbursed me for the $944."
  Nice to know the system worked... Cheers, RickO

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• roadrunner Posts: 28,313 ✭✭✭✭✭

  February 26, 2008 9:55AM

  I had read something a while back that indicated that ebay had a signficant portion of paypal funds in SIV's and other so called "safe" sub-prime derivatives. While it's true they earn a larger interest than say a money market, they have been proven to be less than AAA rated securities.
  
  roadrunner

  Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold

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