Do you store money in paypal account?

If you got over thousand $$$$ in your paypal account, is there any risk?

how is it?

thanks for sharing...

 

I'll get back to you when I have enough money to answer that question

 

Best bet to transfer the funds to your bank account. The only risk you have is from users doing charge backs on your funds.

 

well there is risk , dont keep all your money in one basket . you can send me some if you like

 

If you're unverified, there's more of a risk. I've had XXXX in my PP for a month before and nothing bad happened. This depends on how smart you are with transactions and phishing emails!

 

If they freeze your account, for whatever lame reason, it can be a nightmare to resolve. I learned this the hard way and now keep all my funds in a bank account.

Trust me, you don't want to take that risk if you have an on-line business.

 

I have used paypal for years and never had any problems with them freezing my account. I have heard all the horror stories, so once I reach a certain amount I transfer $ to my bank account. Better to be safe than sorry.

 

There is always a risk. I usually recommend that even the bank account you have attached to Paypal only be used for Paypal. If anything were to happen with your account, Paypal could withdraw money from your account as well.

Even though it is your account, it is Paypal's business. It is Paypal's money before it is yours.

 

In general there is not any problem with Paypal, but its always better to transfer the fund.

 

thanks for sharing your experience...I asked this question because of many bad stories against paypal. And be honest, I never read their TOS completely..

 

I have never had any problems with paypal.
But I am wondering on what amount you choose to transfer to your own bank? How much money do you pile up before doing a transfer? $100? $500? or more?

 

I have a little over a grand with them right now.

 

I've had XXXX in my account, but usually I'll spend it as soon as I get it..lol

 

I think you should cash out.. Never know when Paypal starts banning without reason.

 

Is no reason to keep them there if you will not spend them on the web again is it ?

 

this is from paypal

 

I had an account froze once, I never received a phone that I bought on eBay.
The Guy sent the money back to me, but didn’t send it as a refund.
Few weeks later he calmed the payment back saying he never received an item for me.
He did win the case but have $$$ that was froze.

Keep in what you need to use and bank the rest.

Thanks Brian

 

PayPal cannot withdraw money from your bank account. If they do, for whatever reason, then you just call your bank and tell them to refund the money because you didn't authorize the transaction.

If you have a dispute with PayPal, and they want to freeze funds in your account, they only thing they can do is freeze the funds once they come into your account. So if you have already transferred all the money successfully into your bank account, then they can only freeze funds for said amount once they are back into your paypal. In other words, they won't be able to withdraw your money from you, but they can freeze that amount when you accept new money... so you basically won't get away from it unless you plan to abandon the PayPal account.

An unauthorized withdrawal of money from a bank account is a crime. You can sue for that.

 

If you have no case in your paypal and you are verified also.. you have given your documents to paypal then I guess you have no risk.

But it is always recommended to hold funds in your hand. I don't mean in your home locker but in your reliable bank.

I should say....withdraw your funds asap. good luck.

 

I've held XXXX cash in there before, no problem at all. I actually earn interest on it too