Paypal not paying interest

[Kajunrook]

How can Paypal get away with not paying interest on money they are holding for 180days. Just curious. I bet it is in tens of million dollars.

[JamesNorth101]

Its in their terms and conditions just like everything they get away with

[nickopedia]

Simple, one big reason is because they don't have to. They are not a traditional bank, and they are not required to as per their User Agreement.

[yankee]

Same way as all other credit card processors. By-the-way, paypal is the most LENIENT.

[ebaystealth1974]

OFF TOPIC:

The IRS owed me some money, once, and also paid me interest on it. I thought that was weird!

[phaz0rz]

When they were first starting out, they paid interest on balances held in Paypal (on regular accounts, not sure about limited accounts). At some point over a decade ago they decided to stop doing that, and instead use it as an extra cash stream for themselves.

Learned this from yankee. Surprised to see him not mention it.

[yankee]

Paypal Money Market.....I used to leave huge balances in paypal back then. Huge interest rates. Then they did not have card limits or sending limits so I just used paypal as my bank for business and daily purchases.

That was a while ago....The good old days Now I dont leave many dollars :(

[Verificationguy]

paying interest is not a law lol its a term or agreement