I've had only two problems in more than 23 years of using PayPal. My accounts were frozen, and I couldn't pay a bill. This was an error on PayPal's end, and they fixed it quickly. And somebody made a couple of large purchases and paid for them out of my PP account, using my bank account as a payment method (not taking money out that was already there, since I don't keep a balance in it). Fortunately, both my bank and PayPal found and fixed the issue immediately.
I do immediately transfer funds out of PayPal to my bank account. I've known people who have had their PayPal accounts hacked and have lost the cash funds that were in there. I know somebody who's in the midst of a dispute with PayPal; they confiscated around $2,000 of payments made to her, and which she had kept in her PP account, because they suspected her of fraudulent sales or something--when, in fact, she's a responsible, ethical seller. She's been fighting them for months.
I think it's wise to transfer money out of PP as soon as it hits your account!
I like Zelle, though, too. Not Venmo, though. But those really are for personal or bank-to-bank transfers of money, not for business.
I learn something new every day, but not everyday!
I've learned to never trust spell-check or my phone's auto-fill feature.
Edited 2 time(s). Last edit at 05/15/2023 09:50PM by BirdyC.