Subject: PayPal held funds Author: slsproducts : member since November, 2006 : 568 posts Posted on: 2008-02-27 11:08:43

What PayPal does with held funds

Any funds PayPal holds for dispersal are automatically deposited in a corporate bank account, which earns interest, according to Paypal representative Amanda Pires. The money is kept there until it's ready for distribution. PayPal, which processes payments for eBay auctions as well as e-commerce transactions from elsewhere on the Internet, counts interest payments on those funds as one of its revenue streams...

PayPal's Pires said account holders should be aware that they have the power to collect interest for their own use on delayed funds. It's as simple as enrolling in the company's PayPal Money Market Fund, Pires said.

For enrolled account holders, any funds earmarked for a hold are diverted into the Money Market Fund rather than PayPal's corporate bank account, Pires said. The dividends earned are credited to user accounts on a monthly basis.

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• Any update on the HID group buy?? - slsproducts 2008-02-26 15:15:41 (1127 views)
  • PayPal held funds (url) - slsproducts 2008-02-27 11:08:43 (1143 views)
    • Oh this make a little more sense. - Magnum 2008-02-28 17:14:57 (1176 views)
    • I read the story, but do you know - Magnum 2008-02-28 17:10:21 (1119 views)