Paypal

gamecock43 · #1 (**permalink**) 04-11-2008, 02:40 PM

Hi everyone,
I am looking for some objective opinions regarding paypal's financial state. Has anyone read anything regarding how the company is doing? Over on ebay its a bunch of half crazed angry people that will use any event as a sign of impending doom for paypal and it becomes a mob mentality where it is hard to seperate fact from fiction.
I would think paypal is pretty safe because its a middleman for online shopping, which I hear will only increase as gas prices increase, but I do have alot of money tied up in the paypal money market and want to keep tabs in case they are financially having trouble. Thanks in advance!

disneysteve · #2 (**permalink**) 04-11-2008, 03:52 PM

Keep in mind that Paypal doesn't actually run the MMF. The fund is managed by Barclay's Global Fund Advisors. Even if Paypal were to close up (which I don't see happening), I think your (and my) money would be safe where it is.

gamecock43 · #3 (**permalink**) 04-11-2008, 06:05 PM

oh i feel better knowing that other money -concious people are invested there. Someone heard they invested in mortgages and that started a whole string of rumors.

Seeker · #4 (**permalink**) 04-11-2008, 06:24 PM

PayPal Money Market Account Review: Is It Safe? » My Money Blog

PayPal Is Not "Safe and Secure"

There's a lot of conflictig advice on the Internet about this company. Whether or not they are "safe" remains to be determined.

I had an account with PayPal.... but not anymore. I got my money back after reporting the situation to the BBB. Ultimately, I will not write about my specifics and what happened.... but I will not use this company nor others like it.

CreditExpert · #5 (**permalink**) 04-15-2008, 12:34 AM

one tip i would give about paypal - connect it to your CREDIT CARD, and not to your bank debit card.

Credit card is safer... if any fraud happens,then you can claim the fraud money back legally. But you can't with a debit card.

Tim_1983 · #6 (**permalink**) 04-18-2008, 08:30 AM

I think they are 'safe' in the sense that they are not going to go out of business any time soon. I would not want to have large amounts of cash in a paypal account however, perhaps they are not so safe in that respect.

replimaster · #7 (**permalink**) 04-20-2008, 06:25 AM

I'm with Seeker...I had a very bad experience with Paypal. They took over $3000 out of my account. Would never use them again.

Dave