On Wed, 20 Aug 2008, John Oliver wrote:
On Tue, Aug 19, 2008 at 05:06:00PM -0400, R P Herrold wrote:
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.
But now you're going to a bunch of trouble to try to minimize your
losses when you *know* you're gonna get the shaft at some point.
No imputation as to expecting to 'get the shaft', nor indeed
expecting losses, should be infered from my remarks, as I do
not concur in the distrust expressed in this thread by some of
Pay Pal. I have had a long and pleasant relationship (on
both a personal account and a business one). It is my belief
from reading the disclosures etc, that they indeed have as the
entity services are being provided through, a captive national
bank, and so fall under scrutiny from the Federal Reserve
Board bank auditors as to their pusiness practices.
Rather what I propose as risk management is no different than
buying fire insurance -- I certainly have never planned to
have a household fire but my family have had two in my memory.
Each insured, as it was the prudent thing to be doing.
Really, if you have so little faith in PayPal that you want
to do that... why bother with them in the first place?
That seems to be bootstrapping into a belief that I distrust
or dislike them and their services, which is not the case.
... previously addressed above, and in my prior post as to
Benefit/Cost analysis.
-- Russ herrold
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