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Old 05-03-2018
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Default Paypal not paying interest

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.
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Old 05-03-2018
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Default Re: Paypal not paying interest

Its in their terms and conditions just like everything they get away with
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Old 05-03-2018
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Default Re: Paypal not paying interest

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.
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Old 05-03-2018
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Default Re: Paypal not paying interest

Same way as all other credit card processors. By-the-way, paypal is the most LENIENT.
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Old 05-03-2018
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Default Re: Paypal not paying interest

OFF TOPIC:

The IRS owed me some money, once, and also paid me interest on it. I thought that was weird!
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Old 05-03-2018
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Default Re: Paypal not paying interest

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.
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Old 05-03-2018
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Default Re: Paypal not paying interest

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 :(
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Old 05-03-2018
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Default Re: Paypal not paying interest

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