Since Paypal pays no interest, a better strategy would be to transfer the money to a high interest rate savings or money market account. This way, you can still watch your money grow, earn some interest along the way, and get FDIC protection for your funds.
Just a thought...
That depends on the bank. If Chase doesn't like your politics, they have been known to close accounts.@panama18 wrote:
I know the bank won't grab my money. Well, I don't think they will, anyway.
That depends on the bank. If Chase doesn't like your politics, they have been known to close accounts.
For Paypal, they closed the account of Andrew Torba (one of three founders of the social media site "Gab" ) ; on the other side of the political spectrum, they closed the France-Palestine Solidarity Association. There are many others as well, such as Laura Loomer.
Chase recently shut down Joe Biggs' account, an account he had for 20 years. Also Enrique Tarrio and Martina Markota had their accounts shut down without explanation.
Whether or not you agree with someone's politics should not be a reason to mess with their finances. If a business was upfront and said, "We don't want accounts from [x] [y] and [z]," I can see that is their business. But to close accounts to which payments are tied that can't be changed is just wrong.
In the case of France-Palestine Solidarity Assn, the Jerusalem Post reported on it (mainstream, and FPSA is not a conservative organization.) Paypal is not a bank. They deplatformed Andrew Torba and his social media site "Gab" because there are some people on there that are hateful (but Tw and FB also have some hateful people and there's no repercussion there.)
As far as Chase goes, they don't give a reason for shutting down these accounts. The timing is suspicious, at best. Zero Hedge isn't exactly a spin site; it's mostly an economics site that gets 100,000,000 page views every month. In Markota's case, she has her Kickstarter tied to payments received though Chase and cannot change it, so "refunding" the money isn't being made whole.
I think POTUS has more important things on his plate.
Heed your own words, Matt: "A person's politics should not affect their ability to tell truth from crap."
TA: Wrong "their"; it's late
I hate Paypal, for a lot of reasons (those are just the latest). Currently it's a necessary evil. I will take shops at a lower rate when they have direct deposit.
My objections to Google stem from their invasions of privacy. That's widespread and well-known and there are probably literally a million articles about it.