Is that an issue if you don't plan to "store" money in PayPal but only use it for payments?

PhantomHour a day ago | parent | next [-]

You'd be surprised. A lot of sellers don't "cash out" from paypal all that often, letting tens of thousands pile up. (And inevitably, some of them get hit with arbitrary account closures and have that money seized)

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layer8 a day ago | parent | prev | next [-]

In that case it isn’t, but this thread is specifically about holding money in PayPal: https://news.ycombinator.com/item?id=45250598

My point is that one doesn’t get all the protections normally taken for granted for EU bank accounts.

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croes a day ago | parent | prev [-]

The question is if a EU bank has to provide deposit insurance but PayPal does not how can PayPal be a bank.

	▲	shim__ 4 hours ago \| parent \| next [-]
		PayPal might be a bank but maybe PayPal accounts aren't bank accounts
	▲	layer8 21 hours ago \| parent \| prev [-]
		I haven’t researched the details, but it doesn’t work that way, because they aren’t providing regular bank accounts.