Keeping Money In Bank Vs Keeping Money In PayPal: What Would You Prefer?
- Thread starter Passiveearner
- Start date
Yes, I remember a colleague in an African country whose account was frozen and since that mishap she must rely to cryptocurrencies earnings instead of dollars. I can't imagine the losses when keeping money in a processor instead of banks, especially in the case of a considerable amount.
Yes I have heard about this form another India person before. When I saw it back then I was Abit surprised about this. Why is it like for Indians though? Is it some sort of policy?
It was a government policy of asking paypal to directly transfer the balance of account holders to their bank account so that taxes would be paid correctly. Yet it was poorly implemented and a lot of frauds faking bank account ownership got government jobs.
It's really concerning that Paypal accounts can be frozen without any prior notice. This can create significant inconvenience and potential financial losses for people, especially if they have a considerable amount of money stored in their account.
So Indian Paypal works exactly as Mercosur Paypal. 24 hours is the same timing we wait to automatically receive our Paypal payments to our favorite bank account (being the delays only exceptions). Maybe India and Mercosur countries share the same financial policies concerning processors like Paypal.
PayPal has a very good reputation and would be safe to keep money there for as long as. But you would have no interest.
