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    <p>and that's why crypto will prevail </p>
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    <p>We all must reject cbdc's when the time comes. Decentralized Finance is the future.</p>
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  <div class="cs-widget-edit-comment" id="cs-widget-edit-comment-2565474">
    <p>I have no more a PayPal account. I had a 1300 euro incoming transfer from one sealed ipad and suddenly Pay Pal decide to ban me. And I had to wait for my money according to the rules 2 monts. WHY??? Warum? Perche? Por que? After a 5 years
      active use? Because Im a foreigner in Germany but I have lived in Germany for 6 years and have all these legal things like a address tax and social security numbers. And Im using one and only German bank account. I have tried to speak with
      customer services but for 3 days of trying have no chance at all. Then I canceled the payment and the buyer got his money back and send them directly in my bank account. I don't know the buyer and He could have left me only with a couple of
      cold water. So much risk! Yeah thank you for that Pay Pal! And also I made a lot of donations for sick chldren and other good causes. But no more! No chance ! No Pay Pal for me anymore!</p>
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  <div class="cs-widget-edit-comment" id="cs-widget-edit-comment-2565286">
    <p>I am philliph a trusted pickup vendor for ;</p><br>
    <p>🤝Zelle</p>
    <p>🤝Cashap</p>
    <p>🤝Venmo</p>
    <p>🤝E-transfer</p>
    <p>🤝Western Union</p>
    <p>🤝Apple pay</p>
    <p>🤝Google pay</p>
    <p>🤝Bank to bank transfer</p>
    <p>🤝PayPal friends and family</p>
    <p> Asap payment once screenshot is confirmed</p>
    <p>Am legit bro we good for making money together brother 🤝🤝🤝🤝</p>
    <p>Give me a try bro and see the way I make asap payment once screenshot is confirmed</p>
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    <p>Am Joseph, international businessman. Am interested in making money. Email me at schalejr@yahoo.com, call or text me at 16203499044.</p>
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    <p>I don't have my money sitting in PayPal. That would be ludicrous because it wouldn't be working for me. I transfer it out into one of my other accounts or into my PayPal Savings account which is covered by a bank. </p>
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    <p>First Paypal allows for direct deposit only way is to be connected to a bank it is covered plus PayPal themselves covers you if there hacked and your money is stolen with Venmo being Owned by PayPal it's the same for them but it doesn't matter
      there connected to a bank which allows the FDIC to cover it the people who said this needs to fully research before stating anything about it it's simple there trying to scare people I have had money in Paypal since I started using Paypal I
      only keep the money there cause they assured me it's as safe there as it is a actual bank </p>
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    <p>I have a PayPal account because 20 years ago or so, you were required to have one if you bought or sold on eBay. Now, you need one for Swappa. </p>
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    <p>53000</p>
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  <div class="cs-widget-edit-comment" id="cs-widget-edit-comment-2565078">
    <p>I use PayPal now and then to make an online payment but what happens is it automatically draws from my checking account with a real bank. Doesn't cost anything. I also receive money through PayPal when selling on Ebay, though most phone sale
      now go through Swappa. But I have never let any money sit in PayPal any longer than necessary and transfer all proceeds ASAP. </p>
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U.S. FINANCIAL AGENCY SAYS IF YOU HAVE MONEY IN PAYPAL OR VENMO, GET IT OUT NOW

Apps
Published: Jun 04, 2023, 1:06 AM
Alan Friedman
15
A few weeks ago the U.S. banking system saw three banks, Silicon Valley Bank,
Signature Bank, and First Republic Bank, all fail after runs on these financial
institutions from customers with uninsured deposits who pulled their money out
as quickly as possible. And late last week a report issued by the Consumer
Financial Protection Bureau (CFPB) warned those with cash stored in nonbank
payment apps such as Venmo or PayPal to pull that money out because it might not
be safe in the event of a crisis.



You might retort that the Federal Deposit Insurance Corporation (FDIC) insures
bank accounts up to $250,000 and you'd be 100% correct. But the money you have
in Venmo or PayPal is typically not in a bank account and is most likely not
covered by FDIC insurance in the case that something bad takes place. For
example, if there is a run on Venmo and Paypal and your money cannot be
obtained, most likely you'll be out of luck.


SOME CONSUMERS ARE NOT AWARE THAT THE FUNDS THEY HAVE IN THEIR PAYMENT APP
ACCOUNT ARE NOT INSURED




The CFPB does say that there are some options offered by Venmo and PayPal that
will result in your funds being insured. For example, if you open a PayPal
Savings account through the company's banking partner Synchrony Bank, funds in
that account would be covered by the FDIC. With Venmo, you might qualify for
FDIC insurance if you deposit money to your account via direct deposit, use the
"cash a check" feature, or use your Venmo account to buy or receive some
cryptocurrency assets.



Funds you have stored on your payment apps like Venmo or PayPal are most likely
not insured


In its report, the CFPB wrote, "We find that stored funds can be at risk of loss
in the event of financial distress or failure of the entity operating the
nonbank payment platform, and often are not placed in an account at a bank or
credit union and lack individual deposit insurance coverage. Consumers may not
fully appreciate when, or under what conditions, they would be protected by
deposit insurance."



Some payment apps make money by investing the funds you leave in those apps.
Since they are not paying you any interest on this money, interest earned on the
bonds and other debt they invest in goes right to their bottom line. Payment
apps that do this have no incentive to get you to transfer your funds to your
linked bank or credit union leaving you holding all of the risk while they reap
all of the reward.



If you're not sure if you have coverage, your best bet is to pull the funds out
and deposit them in an insured account until you can speak with someone at your
payment app to verify whether your account is insured.


FUNDS STORED IN A PAYMENT APP ARE AT HIGHER RISK THAN FUNDS DEPOSITED WITH AN
INSURED BANK




While there is no option for holding an insured balance in Google Pay, in Apple
Pay funds are eligible for pass-through insurance if the customer registers the
Apple Cash account with Green Dot Bank. Note that the CFPB says that funds kept
in a payment app are at a higher risk for loss than if the funds were kept in an
insured bank account or credit union.


As the agency says, "Funds stored in a payment app may be at significantly
higher risk of loss for a consumer than if it is deposited in an insured bank or
credit union account. For instance, nonbank payment apps that invest customer
funds in securities or other non-deposit products expose the company to the risk
of insolvency if the investments' value declines. The companies are also exposed
to risk if customers demand their funds all at once."



The CFPB is merely trying to alert you, not scare you. "Consumers should be
aware of these risks if they choose to leave a balance on these nonbank payment
apps. To minimize these risks, consumers may choose to transfer their nonbank
payment app balances back to their federally insured deposit accounts, where
they have a direct relationship with an FDIC-insured bank or NCUA-insured credit
union," it says in its report. You might want to take the agency's advice as
soon as you can.


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gagiagia • 15h ago



and that's why crypto will prevail


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CEDEOTB • 15h ago



We all must reject cbdc's when the time comes. Decentralized Finance is the
future.


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Irene3128 • 6d ago


This comment was moderated for breaking our Community Guidelines.


propov • 1w agoedited



I have no more a PayPal account. I had a 1300 euro incoming transfer from one
sealed ipad and suddenly Pay Pal decide to ban me. And I had to wait for my
money according to the rules 2 monts. WHY??? Warum? Perche? Por que? After a 5
years active use? Because Im a foreigner in Germany but I have lived in Germany
for 6 years and have all these legal things like a address tax and social
security numbers. And Im using one and only German bank account. I have tried to
speak with customer services but for 3 days of trying have no chance at all.
Then I canceled the payment and the buyer got his money back and send them
directly in my bank account. I don't know the buyer and He could have left me
only with a couple of cold water. So much risk! Yeah thank you for that Pay Pal!
And also I made a lot of donations for sick chldren and other good causes. But
no more! No chance ! No Pay Pal for me anymore!


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Sangphilliph • 1w ago



I am philliph a trusted pickup vendor for ;


🤝Zelle

🤝Cashap

🤝Venmo

🤝E-transfer

🤝Western Union

🤝Apple pay

🤝Google pay

🤝Bank to bank transfer

🤝PayPal friends and family

Asap payment once screenshot is confirmed

Am legit bro we good for making money together brother 🤝🤝🤝🤝

Give me a try bro and see the way I make asap payment once screenshot is
confirmed


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schalejr • 2d ago


↵Sangphilliph

Am Joseph, international businessman. Am interested in making money. Email me at
schalejr@yahoo.com, call or text me at 16203499044.


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Bruce_Wayne • 1w ago



I don't have my money sitting in PayPal. That would be ludicrous because it
wouldn't be working for me. I transfer it out into one of my other accounts or
into my PayPal Savings account which is covered by a bank.


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Blackdragon01 • 1w ago



First Paypal allows for direct deposit only way is to be connected to a bank it
is covered plus PayPal themselves covers you if there hacked and your money is
stolen with Venmo being Owned by PayPal it's the same for them but it doesn't
matter there connected to a bank which allows the FDIC to cover it the people
who said this needs to fully research before stating anything about it it's
simple there trying to scare people I have had money in Paypal since I started
using Paypal I only keep the money there cause they assured me it's as safe
there as it is a actual bank


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Crispin_Gatieza • 1w ago



I have a PayPal account because 20 years ago or so, you were required to have
one if you bought or sold on eBay. Now, you need one for Swappa.


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Ezugwu • 1w ago



53000


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StanleyKubrick • 1w ago



I use PayPal now and then to make an online payment but what happens is it
automatically draws from my checking account with a real bank. Doesn't cost
anything. I also receive money through PayPal when selling on Ebay, though most
phone sale now go through Swappa. But I have never let any money sit in PayPal
any longer than necessary and transfer all proceeds ASAP.


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