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Does PP keep all the funds in limited accounts?
 

Was wondering whether Paypal just gets to keep all my $ thousands from my limited Paypal accounts?

All that money sitting in limited accounts. Paypal keeps it all?

Re: Does PP keep all the funds in limited accounts?
 

Do they keep all your money from your limited accounts?

It depends.

Typically, they will allow you to withdrawal after 180 days.

"Typically" means most of the time. The other situations would be if PayPal thinks there is fraud involved, you didn't add a bank account, or they can't confirm your info. This is why it's always keep a bank account + working phone # on the account BEFORE it becomes limited.

Re: Does PP keep all the funds in limited accounts?
 

If you don't get the money out, where is that money going to go?

Re: Does PP keep all the funds in limited accounts?
 

It's a stealth PP, so I can't confirm my info.
When you say "typically," you don't mean for stealth accounts, right?
Every limit I've experienced is PP asking to confirm info (photo ID, etc.).

Where did you hear about a 180 days?

Re: Does PP keep all the funds in limited accounts?
 

I know banks would turn over unclaimed cash to whatever state it's in where it can be claimed from the state. The local news here used to run an "unclaimed cash" segment where they told about people who had unclaimed money with the state.

I've heard people here say Paypal does the same thing but I don't know if it's true since they don't follow the same rules as banks. It probably is true since they are registered money transmitters in most states. If that's the case, the money will eventually end up with some state's Treasury under a stealth name where you would be just as unable to claim it.

Re: Does PP keep all the funds in limited accounts?
 

When you never collect it after the 180 day hold I think PayPal continues to hold it for like 5 years (I had one account I hadn't logged in for ages and a note said that the money like $30 was transferred to the state.) So to answer your question PayPal turns it over to the State and you have to submit a claim to the state for it. Most states have a website now where you can search if you have any unclaimed money. I can see it on my state's website. On my state's website it is listed as "MISCELLANEOUS INTANGIBLE PROPERTY" reported by "PayPal". It was under a real account, not stealth so I guess I should collect it.

Re: Does PP keep all the funds in limited accounts?
 

"a note said??"

Re: Does PP keep all the funds in limited accounts?
 

when i logged in the recent activity showed a transfer and there was a comment or description about the transfer.

Re: Does PP keep all the funds in limited accounts?
 

What have you done about getting the funds released,

The Dear John letter from PayPal states they are holding your funds for 180 days, along with lots of other junk.

::sleepy: