Money in PayPal

I don't know who has told you if you have alot of money in PP that you may run into trouble. I personally find that crazy as I have at least $1-$200 in it at all times. I've never had problems. I pay for almost all my online shopping through pp. PP is a safe place to store your money.

 

You should not have any troubles with keeping money in paypal. They are a reputable company and have been around for a long time. I don't keep much money in my account because I have a paypal debit card. I use it for little expenses here and there and save the money in my regular account. It works out well!

 

I once had $2,000 in Paypal because I was saving money to rent an apartment. I didn't have any problems with it.
The only time that I have ever had problems with Paypal is when I have to give a refund for an eBay item that is lost/damaged and my Paypal account goes into a negative balance.
But that's my fault and I usually rectify it within a day or so.

 

I'm not too sure but I think they do get a bit suspicious once someone's account drastically increases in funds in a short period of time but it's probably a very large amount before they do start to ring their alarms. Also, I once read somewhere that it's much better to leave some amount of money in your account since draining it to zero each time might also prove to be suspicious though like I said I'm not too sure about these.

 

It can be risky only if you intend to use paypal for shady activities like scamming people for example, receiving lots of funds from questionable sources, etc. Otherwise if you receive your money from reputable companies and your account is verified, your money will be safe in your paypal account. I never have any cash in my paypal account though. Anytime I receive some cash, I withdraw it immediately to my bank account.

 

I have never had any issues with Paypal. I've been using it for years, and it's always been reliable. I don't know where you heard that it wasn't a reputable company, but I can't think of any reason you would get into trouble for normal use, even if that normal use was the moving of a decent sized amount of money. Like Denis said, if you're getting paid from reputable companies, there shouldn't be a problem. I don't leave a lot of money in mine anyway, just because I can usually use the money, so I withdraw it pretty quickly. Back when, I used to have more in there, and never had issues.

 

Unless you are doing anything wrong, then you should have no worries with paypal. Only issues is when you get alot on money and they ask for proof why you earned so much. Show them receipts and sales you've preformed and then they'll leave.

 

I usually keep my balance less than $100-$200 but that's just due to it being more convenient to have it in my bank. I know for Australia if your balance exceeds $1000 you have to provide documents to verify your identity further, that's the reason why some people don't want too much money in their account. Can't speak for other countries/regions.

 

So far I have not had any problems but I have never had more than 30-40 dollars in it. I would not keep more than a few hundred in any online wallet though. Primary reason being I need the money to use. LOL.

 

I have never had any trouble with Paypal. I've had amounts up to $2500 in my account and had no difficulties sending it to my family or withdrawing it to my bank account. But these days, I have become much more careful with money and wouldn't keep more than $500 at a time in any account. As soon as I get paid via Paypal from the various companies that I work for, I usually immediately withdraw my funds into my bank account.

 

I hope not, I just got started with paypal again. I want to start taking advantage of some of their online shopping discounts. I heard they had some trouble several years ago, but surely they have sorted that out, or no one would use them.

 

I've never heard any issues of a legal sense with keeping a lot of money in PayPal. I do believe at one time, long ago, people were getting hacked, but that seems to have cleared up really well. The only reason as to why I would think it's silly to have a lot of money in PayPal is because you don't get any interest on it. The higher amounts in my account, the very rare times that they are, is just to quickly make a transaction and then it's back down.

 

I can't comment about how it is with huge amounts of money, but the other users seem to have a good experience overall even with thousands. The most I have ever had in my paypal account is $50, not because I'm wary of them or anything like that, I just spend it very soon after I deposit money into the account.

 

I have never heard of a minimum or maximum amount in Paypal. Why would it matter? If you are trying to keep the money from creditors, it is probably safer there than in a bank, where they could get a court order and take it. The only reason I might move money around at low amounts would be from money-making sites online that I felt might not be around long term. But Paypal is totally secure and trustworthy.

 

I don't think it has anything to do with how much money you have in your account. It's more likely that some people have gotten their accounts locked in general, regardless of how much money they had, and you often hear about the more extreme examples of people having a lot stored up, but losing access. This is usually because they're caught doing something fraudulent. And when it's not, it's easy to get your account unlocked. Often times, you just have to prove your identity with some ID, address proof, etc, so it's not a big deal....just inconvenient.