John Oliver asked:
It's just far too common for PayPal to freeze funds or seize funds from linked accounts if there's an issue.
Basic risk control can be applied here. A WAMU account may be opened online in about ten minutes, and funded with $5. Use it to back the PayPal account. EFT funds into it as needed.
Works just like a lobster trap or a roach model, except PayPal is on the inside ;)
later, MattJ concluded [I think I have the quoting right]:
I just do not see any real benefit to PayPal that outweighs the very real risks that have been demonstrated again and again.
$5 of risk in exchage for the ability to do online transactions seems like a fair bargain (and a real benefit) to me, in a Benefit/Costs analysis.
... but later ...
... While the advantage of PayPal over a credit card is in dispute, I think the advantage of being able to buy things online vs not being able to buy things on line is pretty high.
I am confused -- are you for, or against having a sensibly protected PayPal account?
There is also a privacy factor we haven't touched on (for cash cards in general.) There exists real-world cash cards of a temporary nature that need no ID to obtain. With all the talk on this list about privacy this and encrypt that and the government (US) snooping in credit card records without a warrent, transactions flowing directly through FBI computers, etc., I'd think this kind of payment scheme would be more popular.
umm -- your CongressCritters have been at work; recent new reporting requirements were added (albeit in arrears of the current tax year) to require Pay Pal AND credit card companies to report transactions to the all seeing I(RS). I would expect truly anonymous plastic to disappear soon.
-- Russ herrold -- [email protected] http://www.kernel-panic.org/cgi-bin/mailman/listinfo/kplug-list
