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Old 04-17-2018
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Default PayPal to offer bank accounts

https://www.engadget.com/2018/04/10/paypal-traditional-banking-services/

Maybe this is why all the changes lately
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Old 04-17-2018
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Default Re: PayPal to offer bank accounts

Couldn't help but laugh at that.
Sure. Ill trust paypal with my paycheck. LOL!!!
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Old 04-17-2018
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Default Re: PayPal to offer bank accounts

Quote:
Originally Posted by slokor View Post
Couldn't help but laugh at that.
Sure. Ill trust paypal with my paycheck. LOL!!!
But I love paypal.

Agreed though.


A giant AS IF.


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Old 04-17-2018
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Default Re: PayPal to offer bank accounts

An interesting read. Seems like everyone is being dished out licenses to make their own bank. Amazon is doing something similar, and now PayPal is following in their footsteps.

I just feel like its a catastrophe waiting to happen, and the number of users on this forum is about to surge, with threads like "My salary has been frozen, and PayPal won't release it for 180 days! Help!!!! my mortgage is due!!!!"
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Default Re: PayPal to offer bank accounts

I'd trust a homeless person to hold my cash over paypal
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Old 04-17-2018
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Default Re: PayPal to offer bank accounts

It seems as if they are using other banks to handle different aspects for them. As for freezing the accounts they canít. Banks have standard rules. Canít wait to see them get slammed with fines if they try any funny business.
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Old 04-18-2018
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Default Re: PayPal to offer bank accounts

I suspected they would move more into traditional banking when the TOS update was announced last month.

BUT, after looking over the article I'm not really seeing anything new. Paypal has always partnered with banks to offer financial products. The bank in Utah the article mentions is the same bank who's always done their working capital loans. What's new here? I was expecting to see something about Paypal becoming an FDIC insured bank.
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Default Re: PayPal to offer bank accounts

Nothing seems to be New

They already offering these services

Working capital

Access cards etc
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Old 04-18-2018
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Default Re: PayPal to offer bank accounts

well, thing is most people who do not know better see paypal as a very safe place to do a financial transaction.

But yea, there'll be a surge of people coming to the forum because of this.
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Old 04-18-2018
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Default Re: PayPal to offer bank accounts

Quote:
Originally Posted by SaiJin View Post
But yea, there'll be a surge of people coming to the forum because of this.
Why do you think that?
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