Does nearly every one have PayPal

**MadKad** · 01-03-2007, 12:08 AM

Does nearly every one have PayPal on the internet that can have it? do you have it?

I wounder if they are the biggest bank going in the world

**Whatcha** · 01-03-2007, 11:22 AM

i have it, and technicall they are not a bank !

Hence all the furry over the way they treat sellers and ppl. Basically they not classed as a bank so they do not have to abide by the code of conduct and laws hence, what money is yours is in fact theirs untill they say you can have it. Minus a fee

**MadKad** · 01-03-2007, 11:26 AM

but if there not a bank and they hold cash for people and make a big intrest of if then what are they

**Whatcha** · 01-03-2007, 11:34 AM

i forget the term but basically a middle man, cash transit.

Like did you know when you pay with a credit card via paypal. Your credit card processes it as a cash advance,ie like taking the money out of hole in the wall, and charge you a fee/high intrest depending on card.

They are literally a go between merchant that gives a different angle on matters rather than a normal merchant account. And cause of the popularity of ebay paypal is very very big, though not making as much money as it should be

**MadKad** · 01-03-2007, 12:46 PM

so they dont actuly hold cash like a bank?

**thekl0wn** · 01-03-2007, 1:36 PM

One of my buddies that's a marketing major was tryin' to explain it to me the other day.... I don't think they actually "hold" the money. I think your bank, credit card, etc still has the money, but when the transfer is initialized, the bank, cc, etc, places a hold on the money, then when the seller claims it, it is transferred. Kinda makes sense, even though in many cases it's only a matter of seconds.