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PayPal and their Send Money fees

I've always wanted to see banks forced to tie their CC interest rates to the rates they pay you in interest on your savings accounts.

When you were getting 7 or 8% interest on your account, 19% on your card purchases (if you carry a balance) was bad, now that they are giving you 2% (if you live right), it's highway robbery.

Business accounts, where a lot of money is going through it, you get nothing and then they charge you 6 bucks to tell you that you have 6 bucks less.

No wonder all the banks up here are in the Billion Dollar Profits Club. Capitalist swine :)
 
Paypal money market fund, all you need to do is enroll and have a ballance in your account. You can spend your money like you normally would and remove it all as needed. I don't use it because I don't keep a ballance.

0.10% * 7-Day SEC Yield as of 3/23/2011
 
The mega banks get loans from the fed for nothing and then invest in no risk US gov bonds. We have to settle for crumbs unless you roll the dice and play commodities or stock markets. As allways takes money to make money.
 
I must be a ludite then because I send checks to pay the monthly bills and go to the store with cash in my pocket. Only time I use digital transfers is for direct deposit of a paycheck and for online purchases.
 
Things may work without cheques, but we certainly need to have hard cash available.

What percentage of your assets do you have in physical legal tender (e.g. currency, gold, stamps)? For most people that is less than 1%. So I do not believe that argument really matters. If anything there is a lot less risk involved with digital transactions. Also: the more transactions are done cash and not registered the worse for the functioning of a country: unfair trade practices and a lack of tax revenues.
 
I must be a ludite then because I send checks to pay the monthly bills and go to the store with cash in my pocket. Only time I use digital transfers is for direct deposit of a paycheck and for online purchases.

Not at all: the North American mindset is still very much one of cash and checks. Not one of debit cards and direct transfers. So you fit in with 99% of North Americans there. As a European living in the US I just find these differences very interesting. My wife also uses lots of checks and credit cards: here on Long Island, NY cash is used in approximately 20% of transactions out of personal observation. I guess there are regional differences in this regard.

I miss Norway where you can pay taxis with credit cards, send in your IRS forms through a mobile phone text message and where vendors are integrated in the banking system so paying bills takes seconds (and not minutes wasted in writing checks, putting them in the mailbox, putting on a stamp) in real time.
 
What percentage of your assets do you have in physical legal tender (e.g. currency, gold, stamps)? For most people that is less than 1%. So I do not believe that argument really matters. If anything there is a lot less risk involved with digital transactions. Also: the more transactions are done cash and not registered the worse for the functioning of a country: unfair trade practices and a lack of tax revenues.

I agree that digital transactions offer "less risk" in the general sense of those words.

The thing about cash is that it is available to everybody. Credit cards and digital currency is a pretty high bar to set for many Canadians. Without cash they would be completely unable to do common transactions like buy food. We already have a problem with petty theft, and poverty related crimes here.
 
I agree that digital transactions offer "less risk" in the general sense of those words.

The thing about cash is that it is available to everybody. Credit cards and digital currency is a pretty high bar to set for many Canadians. Without cash they would be completely unable to do common transactions like buy food. We already have a problem with petty theft, and poverty related crimes here.

That is why debit cards are the way to go and you have to make sure that by law any legal resident who shows up at any consumer bank is allowed to open at least a current account with debit card.

Mind you: in the US the poor get really nailed hard through cash checking and other short term credit services. They lose thousands a year on this. That should be outlawed. Also: it appears many people in the US have extremely poor money handling and budgeting skills.
 
Years ago, to avoid the $10 charge, I had to give my bank account number to PayPal. I refused.

At that time, there were some scams that could drain your bank account.

So I just did not use PayPal - only once for the unexpected $10 charge by my credit card company.

Too many other ways to do business today.

But stay tuned - lot more nonsense to come - we are changing our accounts now - life is too short to fight them - they want our business they earn it, by giving us the best deal for us, not them ! !

Posted following before saw this long thread -

But some of my credit cards charge me $10 to just use PayPal for each transaction, so I do not use PayPal.

Anyone else get charged like this ?

Also, some know of the many other "issues" with using PayPal.

Frank
 
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