Paypal?
Out of context: Reply #13
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- ornj0
Be careful with paypal. Paypal is not a bank. Your money does not have the same insurance protection as it would in a real bank. you're money is at their will. Also with any automated system there are problems. Paypal withdrew $700 from my bank acount every couple of days finally overdrafting my checking account by $1400. When I called them to figure out what they were doing and why they told me there was nothing they could do as my money was in the system and they couldn't free it up for 5-7 business days, which translated into 2 weeks. Since my account was overdrawn I went to my bank to tell them what was happening and they ended up putting a hold on my account so Paypal could not withdraw any more money. From there they had me sign a form granting them permission to persue Paypal and the bank deposited money in my account to hold me for a while. Citizen's Bank had the money back in my account within 2 business days.
Moral of the story. Make sure paypal doesn't withdraw from your account directly and do not keep much of a balance in your paypal account.