PayPal- How much of a Pal is it?
By L. Jenkinson
@MarymargII (12422)
Toronto, Ontario
February 17, 2016 12:24pm CST
Actually I love the convenience of PayPal and the anonymity and security of it. What better way to conduct business that is often unsure and risky by reducing that risk with something certain and impersonal. This way our private lives and info are kept from greedy and criminal eyes.
But I'm wondering how everyone here handles the payments that go into it. I personally, do not often take any monies out from any writing project right away and kind of save it for awhile in the PayPal account. However, they don't give any interest so I'm wondering why I do this. Just the other day they took their inevitable fee out and I was kind of surprised as I haven't noticed that much before. But of course they have to or they couldn't remain in business.
My problem is that I like that some money is in there and I can't immediately get at it so it acts a little like a savings account with no interest. Tsk, tsk. I guess it would be wiser to take it out and open a savings account and get what little interest we get these days. It just feels safe in there as I can't get at it. What say you? Do you keep some money in your PayPal or immediately take it out?
13 people like this
15 responses
@JohnRoberts (109857)
• Los Angeles, California
17 Feb 16
I have never had PayPal deduct a fee. I just checked after reading this and no fee deductions. I also let funds sit there. There's no interest to be had in a bank account and these funds can be tapped for online purchases.
3 people like this
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
True- at least no interest to speak of- btw this could have been the first time I paid a fee so that's probably why I noticed.
@MarymargII (12422)
• Toronto, Ontario
19 Feb 16
Well @JohnRoberts - I felt like that too until a few days ago when they took a fee- I would have to calculate but I think it was about 5%- It must be when it gets to a certain amount. I need to take the time and read their policies.
@cherriefic (10400)
• Philippines
17 Feb 16
I usually just keep it there until it reaches the amount when I dont have to pay the fee for withdrawal. But I mostly usebit for online purchases as well.
3 people like this
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
What is the amount that you need not to pay a fee? I should go re-read all their rules.
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
I haven't either but it is growing now finally and I like to keep it like a little stash plus it would come in handy for online purchases too!
1 person likes this
@divalounger (5849)
• United States
18 Feb 16
Interesting! I have a love/hate relationship with the site. I love the convenience but hate the fees. Yet, I continue on with my account there--and in answer to your question, I tend to leave it there and withdraw it once a month or so.
2 people like this
@MarymargII (12422)
• Toronto, Ontario
19 Feb 16
Do you know how the fees at PayPal work? @divalounger
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
@sishy7 I think a lot of people do this- a good idea!
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
@Type04 It would be nice if we could earn some interest on it ?
2 people like this
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
TRue, you have to have money in there for the fee or we'll be owing them!
@MarymargII (12422)
• Toronto, Ontario
6 Jul 16
Yes I get what you're saying. i do keep some there in the account-just in case. 
1 person likes this
@SIMPLYD (90722)
• Philippines
20 Feb 16
@MarymargII Well at least you have a ready money always . 
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
19 Feb 16
That's interesting as it allows you to save it all. I have it hooked up to a checking account so that's why i'm reluctant to move it- It is too easy just to use it.
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
20 Feb 16
@SIMPLYD I know and it stays there longer- because I have to transfer it to use it-------LOL!
1 person likes this
@BelleStarr (61047)
• United States
19 Feb 16
I used to move it immediately but these days with smaller payments I usually wait until I have $50 or so.
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
20 Feb 16
I know and for some reason I feel that I should leave some in there. Too bad they don't give a little interest- it could be a good stash--LOL!
1 person likes this
@Marilynda1225 (79885)
• United States
20 Feb 16
I always have money in my Paypal account. I use it as a slush fund and can dip into it for shopping online, Ebay, Etsy etc.
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
27 Feb 16
I like the sounds of that @Marilyn Slush fund. I will continue to keep some there for the slush-
and take off the extra for me---ha!
and take off the extra for me---ha!
@MarshaMusselman (38663)
• Midland, Michigan
16 Mar 16
I don't get paid that much at present, but I do keep it int there most of the time. Partly because I owe on their credit card and if needed I can use my funds in there for a payment. Or, if I accidentally agree to pay for some help on some game or another it will use my funds instead of taking money from my bank account.
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
17 Mar 16
Yes, good idea. I have decided to keep some in there too. what I'd really have liked was to able to make it a Savings Account as it's not as easy to get to LOL! But maybe I'll try to save and then take it out for another Savings Account. But, in any case I will keep some in there for anything online anyway!
1 person likes this
@DeborahDiane (40060)
• Laguna Woods, California
20 Feb 16
Yes, I keep money in my PayPal account until it accumulates to enough to do something with it. Then, I transfer it to my checking account where I can use it to buy something or do something fun. I don't know why I do that, either, since I actually have a savings account. LOL 
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
20 Feb 16
I'm thinking I just like to see it pile up from the various little jobs. teehee! Now that is fun!
@Shiva49 (26212)
• Singapore
26 Feb 16
@MarymargII I am not sure about this now, but I have given my bank particulars. I think you have to check whether further instructions are required. Sorry about this confusion - siva
@MarymargII (12422)
• Toronto, Ontario
26 Feb 16
I didn't know you could leave instructions there- good idea!
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
16 Mar 16
Yes I'm getting fees from a little income I'm getting for writing something- do you know how the fee thing works on PayPal- I wanted to phone them.
1 person likes this
@AkoPinay (11544)
• Philippines
16 Mar 16
@MarymargII I guess it's different in every country. Yes, maybe it's better to phone them.
1 person likes this
@MarymargII (12422)
• Toronto, Ontario
18 Feb 16
It's true it's great for online purchases- I do like that I can save a little stash there- :)
2 people like this
