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Zwiefel
05-30-2013, 04:00 PM
Does PayPal charge any kind of fees for having a balance? I have a significant balance and would hate to see it reduced b/c of my ignorance.

Burl Source
05-30-2013, 04:25 PM
Nope.
They will pay interest on your balance like a bank account.

bprescot
05-30-2013, 04:26 PM
Actually I believe they're obligated to pay interest...

Zwiefel
05-30-2013, 04:36 PM
there isn't a more desirable answer to that question. Thanks gentlemen!

Dave Martell
05-30-2013, 05:04 PM
0.0000000001% interest probably :D

Lucretia
05-30-2013, 05:14 PM
Better than my bank account is doing.

Dream Burls
05-30-2013, 05:19 PM
Personally, I don't see the point of having a big Paypal account. I'd rather have it a bank where I could go to and take it out rather than having to transfer it first, which could take a couple of days. I know what I need in Paypal to cover my expenses and I try to keep it at that amount. JMHO

Zwiefel
05-30-2013, 05:33 PM
Personally, I don't see the point of having a big Paypal account. I'd rather have it a bank where I could go to and take it out rather than having to transfer it first, which could take a couple of days. I know what I need in Paypal to cover my expenses and I try to keep it at that amount. JMHO

me too...this isn't mine though...and I don't want to incur any extra fees with multiple transfers. just wanted to make sure it wouldn't cost anything to sit there.

Lucretia
05-30-2013, 05:42 PM
If you're worried about it I'd be happy to send you my PayPal information and you can just transfer it into my account. :D

Zwiefel
05-30-2013, 05:43 PM
If you're worried about it I'd be happy to send you my PayPal information and you can just transfer it into my account. :D

hahahahahahahahahahaha....no.

chefwatson
06-03-2013, 10:24 AM
You don't have to transfer it anywhere. You can get a debit card from them and use it just like a bank account. No fees and they give you cash back on your debit card purchases like a Discover card.

jayhay
06-03-2013, 10:47 AM
But they do have withdrawal limits every month, unless you fork over your social security number. I think it's a $500 pr/mo withdrawal limit with no SS#. Something to consider.

Patatas Bravas
06-03-2013, 10:52 AM
Just how anyone manages to have a positive PP balance on KKF is beyond me.

chefwatson
06-03-2013, 11:45 AM
But they do have withdrawal limits every month, unless you fork over your social security number. I think it's a $500 pr/mo withdrawal limit with no SS#. Something to consider.

According to my account I have a daily spending limit of $3000 and a daily ATM withdrawl of $400. Nothing about monthly limits and I have never given them my SS#. Could be that I have a business account though. Not sure on that one.

jayhay
06-04-2013, 01:30 PM
According to my account I have a daily spending limit of $3000 and a daily ATM withdrawl of $400. Nothing about monthly limits and I have never given them my SS#. Could be that I have a business account though. Not sure on that one.

Interesting. I don't have a biz acct, just personal. A year ago I went to war with paypal. They wanted my SS# for me to continue using my personal acct. At that point I was never selling or withdrawing any money, just using it for web payments. One day I logged on and my account was suspended unless I provided my SS#. I said, F THAT and threw a small man fit. Wrote some nasty emails, with lots of f-bombs. They never got back to me, but a month later my account was un-suspended. I hate paypal lol.

Burl Source
06-04-2013, 01:56 PM
Paypal is like a bank account so they now verify your identity.
In the beginning you could have an anonymous account, but it seems those days are gone.

I use Paypal for all of my business transactions.
Makes it a lot easier to keep track of everything.
and...yes you get cash back for using your paypal debit card.

This was posted to my account today.
Cash Back Bonus From PayPal Inc Debit Card $14.94 USD

The BoardSMITH
06-04-2013, 02:29 PM
I use PayPal for my business merchant account. Their per-transaction fee is very fair with no extra charges added each month. In fact, I dumped my other merchant account that I was using for taking cards at shows and over the phone because they were charging about $45 to $60 each month for their extras. I have a $3000 per day transaction limit, $400 per day cash withdrawal and unlimited transfers to my checking account. They charge nothing for keeping a balance and don't pay interest. Just like any other bank today, they do require the same information as your local bank as a protection against money laundering. Go to a local bank and apply for a checking account, the bank will require a lot of information now that wasn't required in the past. No amount of f-bombs or nasty emails will change the federal regulations. Now I have a PayPal here card reader and I will use it with my iPad at shows instead.

Disputes with customers are another point. I have had two this year go my way because PayPal went to bat for me against two bogus disputes.

In April I received over $90 back from PayPal for using my debit card. Yesterday I received $74 back.

Zwiefel
06-04-2013, 03:12 PM
wow...PayPal has really grown up since I discontinued using it about 10-12 years ago.

Great responses...thanks everyone!