Is Paypal a Bank?

Discussion in 'PayPal' started by olddocks, Jan 8, 2008.

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  1. #1
    Is paypal a bank? what makes PP different from REAL banks?

    Just curious!
     
    olddocks, Jan 8, 2008 IP
  2. getjimmy

    getjimmy Prominent Member

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    #2
    Online bank i will say,its different from real bank as u can accept payments on ur websites using paypal.
     
    getjimmy, Jan 8, 2008 IP
  3. Markas

    Markas Well-Known Member

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    #3
    it's an online bank :) sometimes it's even better then real banks
     
    Markas, Jan 8, 2008 IP
  4. Zerosleep

    Zerosleep Established User

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    #4
    Paypal is Online Payment Processor, yea you can call it as Online Bank though
     
    Zerosleep, Jan 8, 2008 IP
  5. olddocks

    olddocks Notable Member

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    #5
    if it is some kind of bank, then dont they need banking license to perform financial transactions?
     
    olddocks, Jan 8, 2008 IP
  6. palka62

    palka62 Peon

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    #6

    you can define paypal as non banking financial company provide payment processing
     
    palka62, Jan 8, 2008 IP
  7. Gallito

    Gallito Peon

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    #7
    They aren't a bank but they do use some big financial firm to reinvest any money stored in people accounts. (usually at ~%4.5 interest).
     
    Gallito, Jan 8, 2008 IP
  8. Pervert-For-Life

    Pervert-For-Life Banned

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    #8
    paypal is not a bank... its a online payment processing... paypal checks are send by other banks.. so if they are bank then the check should be issued directly by paypal.. but paypal cant do that as its not bank..
     
    Pervert-For-Life, Jan 8, 2008 IP
  9. Jarodboy

    Jarodboy Prominent Member

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    #9
    Not really a bank yet...But they're getting closer to that every day. :)

    Can't wait to be able to have a Paypal Visa card like US can have now. :)
     
    Jarodboy, Jan 8, 2008 IP
  10. James Peter

    James Peter Peon

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    #10
    Well its something like online bank!. However you can draw money to your bank from Paypal :)
     
    James Peter, Jan 8, 2008 IP
  11. buileminh

    buileminh Peon

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    #11
    You can call PP an Online Bank but no interest :-p
     
    buileminh, Jan 8, 2008 IP
  12. pikemanqn

    pikemanqn Guest

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    #12
    PayPal is the Bank, both online and offline bank. But they designed for most online banking.
     
    pikemanqn, Jan 8, 2008 IP
  13. sansibar

    sansibar Guest

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    #13
    Actually, both is true. Paypal has been existing for some years as online payment processor, but turned into a fully registered bank last year, at least in the European Union (from Wikipedia):

     
    sansibar, Jan 8, 2008 IP
  14. Pervert-For-Life

    Pervert-For-Life Banned

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    #14
    paypal is not a good bank then since it cause alot of trouble to its customers which dont happen at other banks... lolol.... also bank pay interest.. and paypal dont... i am sure paypal use the money that is inside all the accounts to earn more money.... who knows this can be true since paypal did do dirty work behind... by the way my bank is SBI and they reply my emails and so does SBI card.... but paypal completely ignore all emails that have critical questions or proof... so its not a good bank if it is a bank... and i will not recommand anyone to use that bank... as you cant have peace of mind at paypal... so its a bnak that will keep you in panic all the time... lololol.... and you have to ready for suprise lololollo
     
    Pervert-For-Life, Jan 8, 2008 IP